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Consultancy

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Consultancy

The Management Consultancies Association (MCA) defines management consultancy as: 'the creation of value for organisations, through the application of knowledge, techniques and assets, to improve performance. This is achieved through giving objective advice and/or the implementation of business solutions.'

Management consultants go into organisations to provide an objective analysis, wider expertise and independent specialist skills. They are primarily concerned with initiating and implementing organisational, behavioural and technological changes.

Management consultants' roles can be quite varied, from strategy consulting and human resources to operational, IT and financial consulting. Some management consultancy firms offer end-to-end solutions, while others provide specialist skills and industry knowledge.

Management consultancy work covers a broad range of industries and market sectors and the work of a consultant can be quite varied. New graduates are generally required to work closely with, and present to, managers within the organisation. A newly-hired graduate will begin in a supporting role, working as part of a team, assisting with research. Activities can involve: gathering and collating data; processing figures to be presented to the client by senior colleagues; identifying and investigating problems concerned with strategy, policy, markets, organisation and processes; formulating recommendations for action, taking into account broader managerial and business implications and ensuring the client receives the assistance needed to implement the recommendations.

The day-to-day role of a consultant is as varied as the different types of consultancy. The work may require technical expertise if the advice sought is product oriented or specialist knowledge to advice on and implement a system or strategic coaching on organisational management. Consulting is essentially entrepreneurial in nature and project-based.

Useful links:

Chartered Institute of Personnel and Development (CIPD)

Chartered Management Institute (CMI)

Institute of Management Consultancy (IMC)

Management Consultancies Association (MCA)