1. Management
Consulting
WHAT IS IT ABOUT?

2. Background
 During the Great Depression organisations looked for external help
 James O McKinsey in 1930s started applying accounting methods to
management
 Prior to that ‘Management engineering’ was a concept under
development by Arthur D Little who was a chemist
 Marvin Brower, an MD of McKinsey, who was an ex-professional lawyer
founded the modern management consulting culture
 In the recent history management consulting has grown into functional
and industrial specializations

3. Definitions
 Definition one (The Management Consultancies Association UK):
Management consulting is the practice of creating value for organisations, through
improved performance, achieved by providing objective advice and implementing
business solutions. In other words, management consultants help take organisations
further than they would go on their own.
 Definition two (Business Dictionary):
The work done by a consulting firm which focuses on advising companies on the best
ways to manage and operate their business. The firm will give advice on concepts like
their business strategy and operational techniques, and also skills like time management,
depending upon the needs of the company.

4. What does a Management
consultant do ?
 Interviewing clients
 Delivering presentations
 Conducting desk research
 Analysing data
 Building financial/other
models
 Understanding problems
 Devising appropriate solutions
 Supporting planning and
decision making
 Assisting in setting and
defining goals
 Increasing value of
organisations
 Promoting best practices
 Partnering to lead change
and development
 Increasing capabilities of
organisations

5. Essential Traits of a Management
Consultant
 Personal impact
 Entrepreneurial drive
 Problem-solving skills
 Achievement
 Leadership abilities
 Logical reasoning
 Decision making
 Communication
 Ingenuity
 Ability to work well with
others

6. What makes an Exceptional
Consultant?
 The ability to identify, organise and classify problems
 Leveraging trust through professional & personal confidence
 Understanding uncertainty and how it affects decisions
 Keeping up to date with current issues in organisations
 Deep understanding of creating and maintaining value
 Understanding trade offs in decision making and planning
 Developing and maintaining a network of professional relations
 Dedication to self improvement and knowledge development
 Adapting different methods to create new, well-suited solutions
 Forming well thought and well researched opinions on current issues

7. Review
 Management consulting is derived from multiple disciplines.
 Management consulting is about value, problem solving and advice.
 Management consultants do research & analysis for decision making to enhance
organisations.
 Management consultants are creative, articulate and impactful leaders of change
and development.
 To excel a management consultant needs to proactively develop skill sets while
forming opinions on important issues.
 Finally, the product of management consulting is an IDEA.

8. Thank you for listening
Any questions ?