Career as a Management Consultant


Summary

A Management Consultant is someone who proposes ways to improve an organization's efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. Management consultants help businesses improve their performance and grow by solving problems and finding new and better ways of doing things. It's not just in the private sector either – many firms work with public sector organizations to help develop their services and, where necessary, reduce costs and make savings.

Organizations hire management consultants to develop strategies for entering and/or remaining competitive in the marketplace. Although some management consultants work for the organization that they are analyzing, most work as consultants on a contractual basis.

Whether they are self-employed or part of a large consulting company, the work of a management consultant may vary from project to project. Some projects require a team of consultants, each specializing in one area. In other projects, consultants work independently with the client organization's managers.

Management Consultant gather and organize information about the problem to be solved or the procedure to be improved and analyze financial and other data, including revenue, expenditure, and employment reports, sometimes using sophisticated mathematical models. They recommend new systems, procedures, or organizational changes. They also interview personnel and conduct on-site observations to determine the methods, equipment, and personnel that will be needed.

Management Consultants often specialize in certain areas, such as inventory management or reorganizing corporate structures to eliminate duplicate and nonessential jobs. Some specialize in a specific industry, such as healthcare or telecommunications. In government, management analysts usually specialize by type of agency.

Work Environment

Management Consultants usually divide their time between their offices and the client's site. Because they must spend a significant amount of time with clients, they travel frequently. They may experience stress when trying to meet a client's demands, often on a tight schedule.

Self-employed consultants can decide how much, when, and where to work. However, they often are under more pressure than those who are wage and salary employees, because their livelihood depends on their ability to maintain and expand their client base.

Entry Level Education

Bachelor’s / Master’s Degree in Business related area.

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