ARE 112 – Winter 2017 Consulting – Some On-The-Job Advice from Mckinsey February 22Nd

Total Page:16

File Type:pdf, Size:1020Kb

ARE 112 – Winter 2017 Consulting – Some On-The-Job Advice from Mckinsey February 22Nd ARE 112 – Winter 2017 Consulting – Some On-the-Job Advice from McKinsey February 22nd The McKinsey Way - Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business Ethan M. Rasiel - McGraw-Hill, 1999 A worldwide consulting company has honed its problem-solving techniques, from how to conduct interviews to how to be sure you are posing the right problem. Now you can apply these methods to your business. Ethan M. Raisel describes the problem-solving process used by McKinsey & Company, a well-known corporate consulting firm. The book offers easily digested tips. The insightful section on conducting interviews and the tips on building teamwork are particularly useful. However, because the author and other McKinsey consultants are prohibited by confidentiality agreements from discussing the specifics of their cases, the book lacks real-world examples of the firm’s problem-solving approaches. In this summary, you will learn What techniques McKinsey consultants use to solve problems Why McKinsey prefers to market, rather than sell, its service Why interviews are an essential source of information for problem solvers Take-Aways: The McKinsey & Co. consulting firm promotes clarity of thought and expression. Every document uses the MECE rule: mutually exclusive and collectively exhaustive. When tackling a problem, write an initial hypothesis. A wonderful business solution is useless if the company lacks the resources to follow the advice. Eighty percent of the people in a company account for twenty percent of its productivity. Be consistent and be a team player; hit singles, not home runs. Managers build team spirit by treating employees with respect, particularly by realizing that employees have lives outside the office. The first rule of success in a hierarchy is "make your boss look good." Consultants know that with research, they will find that plenty of background work has already been done for them. Consultants gather some of their most significant information through interviews. When conducting an interview, prepare questions in advance, listen more than you talk, and leave the toughest questions until last. Thinking Like a Consultant Companies worldwide hire McKinsey & Company, a well-known corporate consulting firm, for its problem-solving expertise. McKinsey experts credit the firm’s success to the use of its proven guidelines for problem solving. Those guidelines include techniques you can use, including standard ways to think about problems, gather information, and present findings to clients. The first rule of McKinsey’s approach is to embrace facts. Facts are the foundation of McKinsey’s advice, partly because the company’s consultants aren’t experts in any specific industrial field. Page 1 ARE 112 – Winter 2017 Consulting – Some On-the-Job Advice from McKinsey February 22nd Therefore, they don’t rely on intuition to guide their recommendations. Facts create credibility, a big issue to young consultants who are making presentations to skeptical executives. “You must not fear the facts. Hunt for them, use them, but don’t fear them.” McKinsey’s entry-level consultants typically finish near the top of their college classes, spend a couple years at a large company, and then earn an MBA from a top university. The entry-level consultants are in their twenties, so they’re vulnerable to being easily dismissed when they make presentations to top executives of huge companies. However, they find they can build effective cases when they have a strong command of the facts. McKinsey promotes clear expression by demanding that every piece of communication follows the MECE rule, short for mutually exclusive and collectively exhaustive: “The only way to figure out if the problem you have been given is the real problem is to dig deeper. Get facts. Ask questions. Poke around.” "Mutually exclusive" means that each component - or issue - which makes up a problem is considered distinctly and separately. "Collectively exhaustive" means that the list of items covered thoroughly addresses the problem. Every part of a problem fits within one, and only one, of those issues. Ignoring the MECE rule leads to confused thinking. “Most business problems resemble each other more than they differ. This means that with a small number of problem-solving techniques, you can answer a broad range of questions.” Problem Solving Techniques When McKinsey consultants tackle a new problem, they define an initial hypothesis. In other words, they come up with a solution before researching the problem. This may sound backward, but the initial hypothesis lays out a map for solving the problem. The initial hypothesis isn’t the final answer, merely an educated guess that will be proven true or false during the course of the research. Using this approach, it is critical that you don’t make the facts fit your predetermined conclusion. Be willing to accept that the initial hypothesis isn’t always accurate. McKinsey consultants demonstrate other lessons that are useful in solving business quandaries. Remember, just because a problem is presented to you as the core issue, don’t accept that it’s the real problem. McKinsey consultants once spent several weeks working on a manufacturing company’s proposed expansion before realizing that expansion wasn’t the right answer for the company. Instead, the division in question needed to be closed or sold. “Honesty includes recognizing when you haven’t got a clue. Admitting that is a lot less costly than bluffing.” Many business problems are similar enough that the same thought process can be applied to many different issues. However, that doesn’t mean that the same solution always works. For example, one McKinsey consultant says that in eighty percent of pricing problems, the solution is to raise prices. But in the other twenty percent of cases, the solution is to lower prices. Therefore, when you are solving problems, do your homework and analyze the facts before reaching a recommendation. McKinsey believes in the eighty/twenty rule, which says that eighty percent of the people in a company account for twenty percent of its productivity. For example, eighty percent of a company’s sales will come from twenty percent of its salesmen, while twenty percent of an employee’s job duties will occupy eighty percent of his time. Page 2 ARE 112 – Winter 2017 Consulting – Some On-the-Job Advice from McKinsey February 22nd “At McKinsey, we found that clients were often no better at diagnosing themselves than a doctor’s patients. Sometimes, problems would come to us in extremely vague formulations.” McKinsey has used the eighty/twenty rule to help firms boost sales. For instance, a brokerage firm found that eighty percent of its sales came from twenty percent of its brokers. The top-producing brokers handled the biggest accounts. By putting more brokers on the big accounts, McKinsey helped to boost total sales from the accounts. Keep in mind that solutions must be realistic. A wonderful solution is useless if a business lacks the resources to follow recommendations. Politics also can pose a roadblock to solutions. Addressing a business problem often means changing the status quo, and those changes usually involve internal politics. If a problem is too intractable to solve, try to redefine it so you can begin by addressing something more easily changed. “If all you have is a hammer, then every problem looks like a nail. Critics of McKinsey (and management consulting in general) say that the Firm bases its solutions on the most current management fad - the favorite tool in its intellectual toolbox.” McKinsey also avoids analyzing too much. Once its consultants collect enough information to support a hypothesis, they stop. This means that to work more efficiently, you should focus on the so-called "key drivers" - the most important factors that affect a business problem. Concentrating on the key drivers will help you to narrow in on the meat of the problem. Solutions must be boiled down to a thirty-second sound bite, a tactic known as the elevator test. If you can thoroughly explain a product or solution in a thirty-second elevator ride, then you understand it clearly enough to sell it to your audience. For instance, the publisher of Field & Stream magazine told his sales force that they must be able to explain the publication to potential advertisers in thirty seconds. Ad sales grew as a result. “Unfortunately, when academic ideals meet business realities, business realities usually win. Businesses are full of real people, with real strengths and weaknesses and limitations.” McKinsey also believes in seizing small victories. If, on the way to a larger solution, you find the chance to make a simple recommendation or small improvement, do it. Such easy targets help build morale and appease clients who might otherwise grow impatient. Keep track of the things you learn during the problem-solving process by making a chart every day. This helps clarify your thinking and record your progress. As a problem solver, try to "hit singles." In baseball terms, this means going for the consistent, effective solution, rather than trying to belt a home run. This approach instills teamwork, acknowledging that you can’t do everything yourself. One cautionary note: hitting a home run can be dangerous if it gives your boss unreachable expectations about your future performance. “When you look at the boxes on an organization chart, you are really looking at people. When you move those boxes around, you change someone’s life.” Another McKinsey rule is, look at the big picture. It’s difficult to keep your perspective when you’re bogged down in the details of a problem, but taking a break to re-evaluate can help you work more efficiently. Be willing to admit that you don’t know something. This honesty will do more for your credibility than bluffing.
Recommended publications
  • COMPANY PRESENTATION We Are One of the World's Leading Strategy Consultancies
    COMPANY PRESENTATION We are one of the world's leading strategy consultancies We.... Focus on CEO-relevant topics and multinational clients Believe in three fundamental values: entrepreneurship, partnership and excellence Recruit and support extraordinary talent and are proud of our exceptional people Roland Berger is the truly global company of European origin - we operate internationally > Our international offices are 35 offices in 24 countries our growth drivers, e.g. CEE + 52% USA + 49% Revenues of EUR 600 m China + 31% France + 30% 2,000 employees 76% of all projects with cross-border challenges Amsterdam I Bahrain I Barcelona I Beijing I Berlin I Brussels I Bucharest I Budapest I Chicago I Detroit I Düsseldorf I Frankfurt I Hamburg I Hong Kong I Kyiv I Lisbon I London I Madrid I Milan I Moscow I Munich I New York I Paris I Prague I Riga I Rome I São Paulo I Shanghai I Stuttgart I Tokyo I Vienna I Warsaw I Zagreb I Zurich As a top management consultancy Roland Berger is focused on creative strategies that work Creative strategies that work! Roland Berger – • Teams • Tailor-made • A superior clearly combining metho- understanding functional dological of the context • Systems positioned and approach for and the culture JECTS consultants as global top industrial efficient of European management expertise for strategies companies for • IT consulting innovative successful consulting firm solutions implemen- tation • Medium/small • Strategy consultancies boutiques MAJOR CLIENTS / LARGE PROJECTS LARGE / CLIENTS MAJOR REVENUES / CONSULTANT
    [Show full text]
  • A Revolution in Interaction.Pdf
    STRATEGY A revolution in interaction Pat Butler is a principal and Anupam Sahay is a consultant in McKinsey’s London oƒfice; Ted Hall is a director, Lenny Mendonca is a principal, and James Manyika isaconsultantintheSan Francisco oƒfice; Ali Hanna is a director in the Stamford oƒfice; and Byron Auguste is a consultant in the Los Angeles oƒfice. Copyright © 1997 McKinsey & Company. All rights reserved. 4 THE McKINSEY QUARTERLY 1997 NUMBER 1 A new study of interactions reveals how pervasive they are As they increase, answers to fundamental questions about integration, scale, and scope will change What will happen when workers can carry out their jobs in half the time? Patrick Butler Ted W. Hall Alistair M. Hanna Lenny Mendonca Byron Auguste James Manyika Anupam Sahay HE MODERN WORLD ECONOMY is in the early stages of a profound change in the shape of Tbusiness activity. Two centuries ago, dramatic shiƒts in the economics of transformation – of pro- duction and transportation – precipitated the Industrial Revolution. An upheaval of equal proportions is about to be triggered by unprecedented changes in the eco- nomics of interaction. Interactions – the searching, coordinating, and monitoring that people and firms do when they exchange goods, services, or ideas – pervade all econ- omies, particularly those of modern developed nations. They account for over a third of economic activity in the United States, for example. More than that, interactions exert a potent but little understood influence on how industries are structured, how firms are organized, and how customers behave. Any major change in their level or nature would trigger a new dynamic in economic activity.
    [Show full text]
  • Joining Forces for Digital Advantage Worldreginfo - 658D43b0-7237-40Ba-908D-B0e61efdcefe Tieto and EVRY 2019 Digital Advantage Governance Financials Sustainability
    Annual Report 2019 Joining forces for digital advantage WorldReginfo - 658d43b0-7237-40ba-908d-b0e61efdcefe Tieto and EVRY 2019 Digital advantage Governance Financials Sustainability Brighter With TietoEVRY’s expertise, new technologies and data, we empower the development of sustainable businesses and the society. future. TietoEVRY is a leading digital services communities of technology and business and software company. We create digital professionals in the Nordics, and we employ advantage for businesses and society, with approximately 24 000 experts globally. local presence and global capabilities. Our Together. Nordic values and heritage steer our success. We have a strong local presence with a leading market position in digital With deep insight comprising customers’ services in Sweden, Norway and Finland. culture, strategic and business drivers With annual revenue of approximately TietoEVRY provides fit-for-purpose EUR 3 billion, TietoEVRY serves solutions for customers to increase their customers in over 90 countries. business agility, growth and innovation. Formed from the merger of Tieto Read more on the and EVRY, we are one of the largest merger Annual report 2019 2 WorldReginfo - 658d43b0-7237-40ba-908d-b0e61efdcefe Tieto and EVRY 2019 Digital advantage Governance Financials Sustainability Facts & figures (End of December 2019) FULL NAME: TIETOEVRY CORPORATION NUMBER OF COMPANY FOUNDED IN 2019 OPERATING COUNTRIES HEADQUARTERS IN ESPOO, FINLAND LISTED ON NASDAQ OMX IN HELSINKI AND STOCKHOLM, OSLO BØRS TOTAL EQUITY: EUR 1 691.7 MILLION 90+ TOTAL LIABILITIES: EUR 2 167.5 MILLION REVENUE, MEUR FULL TIME EMPLOYEES 2 951 Based on stand-alone full-year financial information *Total23 number of employees 996* for TietoEVRY. for Tieto and EVRY in 2019 (55% from Tieto and 45% from EVRY).
    [Show full text]
  • Deep Thoughts
    Paul Gottsegen SPOTLIGHT Chief Marketing and Strategy Officer Mindtree's Digital Practice Forecast: Clear Vision in a Cloudy Market A new report, "Mindtree's Digital Practice Brings Clarity to a Cloudy Market," from Horses for Sources (HfS), a leading global services analyst firm, spotlights Mindtree's growing digital At Mindtree, we like to say we were "born digital" since practice. This Q&A with Mindtree's Digital Business leader, Radha digital transformation has been at the core of our business R., shares insights into how clients can harness a digital from Day 1. We know that digital is more than transformation for long-term competitive advantage. technologies and tools. Like the Internet of Things, it's a Read the report to learn why HfS Managing Director for Digital game changer that offers a world of new opportunities for Ned May says Mindtree's Digital vision is "one of the clearest in our customers. This month's Spotlight features an the market today-one that can serve to help frame the interview that takes a close look at our digital practice and conversation for any enterprise buyer." why Mindtree's unique, collaborative approach delivers real business results. Download the report >> CLIENT SPEAK MINDTREE MATTERS CIO Report: Leading Industrial Supplier Discovers flydubai Selects Mindtree as a Strategic Digital Success Technology Partner The move from paper catalog-based sales to a robust ecommerce Mindtree announced a strategic partnership with Dubai- system delivered $1 million in savings and $1 billion in annual based flydubai to shape the full digital experience of the revenue for MSC Industrial Supply Co.
    [Show full text]
  • What Will You Do As an IBM Entry Level Consultant?
    What will you do as an IBM Entry Level Consultant? As an Entry Level Consultant, you will have the opportunity to join Entry Level Consultants program - our world-class leadership and development program designed to provide the full-spectrum of structured training, development, and practical experience necessary to successfully launch and accelerate their career. You will contribute right away to top-tier clients in collaboration with smart people in a dynamic team environment. You will work on projects that help clients integrate strategy, process, technology and information to increase effectiveness, reduce costs and improve profit and shareholder value. You will have an opportunity to build a powerful portfolio of interesting and rewarding experiences. You can take advantage of opportunities to master new skills, work across different disciplines and move into new challenges…all at IBM, a company that is at the forefront of tackling the grand challenges that affect our society, such as climate change, energy production, traffic congestion and health care. The Entry Level Consultants program is a part of our Global Business Services (GBS) division in IBM Canada. Within GBS, we look to hire consultants into various practices based on their skill sets and education. Listed below are descriptions of our practices. Our Practices iX (Interactive Experience) Mobile - Our Canadian Digital Solution development team is a global leader in providing clients with Web, Mobile, Virtual Reality, or API development services based on emerging technologies. We design and develop custom solutions for a variety of device platforms including Responsive Web, iPhone, Android, Oculus Rift/Go, Apple TV, and Gear VR.
    [Show full text]
  • Kimberly Nguyen – Career Journey Podcast Audio Transcript
    KIMBERLY NGUYEN – CAREER JOURNEY PODCAST AUDIO TRANSCRIPT Kimberly Nguyen [00:00:00] And it was not why they think, well, this is so hard and it's so until I took AP statistics in senior year of high useless, why am I learning this? And it was not school that I realized how much I actually do until I took AP statistics in senior year of high enjoy math when you can apply math to real school that I realized how much I actually do life. enjoy math when you can apply math to real life statistics was the first time, I found math to Joyce Kline [00:00:15] Hello, everybody, I'm actually be useful. We were looking at a placebo Joyce Kline. I'm a managing director within project where half of the subjects got a new Accenture’s Applied Intelligence Practice, and medication, and the other half did not get the I'm going to be the host today for our AI medication. And I realized that you could use Leaders podcast. And I'm excited to have join math to come to definitive conclusions about with me today, Kimberly Nguyen. Kimberly is a whether or not the medicine worked. So, if it consultant within Accenture’s Applied worked on 50 percent of the people or 60 percent Intelligence Practice, and we're going to learn of the people, how can you say the medicine is today about Kimberly's exciting journey that working or not? Well, there's statistical theories brought her here to Accenture.
    [Show full text]
  • SAP Global SI Certifications August 2021
    SAP Global SI Certifications August 2021 PUBLIC Global Partner: Total certified consultants & certifications Total Certified & Current Partner Individuals Total Certifications Held IBM 9423 13677 Capgemini 8177 14505 Accenture 7574 11727 Wipro 4704 6264 Deloitte 4636 7228 DXC Technology 2887 4075 NTT 2828 4459 Infosys 2051 3247 Atos 1957 3388 Cognizant 1780 2729 TATA Group 1210 1879 Larsen & Toubro Group (LTI) 987 1962 T-Systems 861 1301 HCL 714 1293 Tech Mahindra 486 840 This table shows the total number of unique certified consultants per Global Partner and the number of certificates held by these individuals. If a consultant holds more than 1 certification, they will only be counted once in the ‘Certified Individuals’ columns. The data above currently only considers certifications issued since 1.1.2016 Note that some partners, including but not limited to PwC, have large numbers of Certified SAP consultants but have chosen not to have their certification data published on this list. © 2021 SAP SE or an SAP affiliate company. All rights reserved. ǀ PUBLIC 2 Global Partner: Total certifications by solution area Industry- Data Digital specific S/4HANA Unique Customer Manageme Supply Human Application Procureme Digital Core SAP Individuals Partner Analytics Experience nt Database Chain Resources s nt & ERP Platform SME Others IBM 269 376 84 2053 406 518 56 204 5344 1444 0 226 9423 Capgemini 215 388 47 1641 384 415 80 112 5256 1794 4 291 8177 Accenture 202 677 46 842 157 1291 76 268 3592 1006 2 284 7574 Wipro 24 206 8 1477 129 233 130 69
    [Show full text]
  • Health Care Management Class of 2017 Permanent Placement List Company Title Group Location Financial Services/Venture Capital/P.E
    HEALTH CARE MANAGEMENT CLASS OF 2017 PERMANENT PLACEMENT LIST COMPANY TITLE GROUP LOCATION FINANCIAL SERVICES/VENTURE CAPITAL/P.E. Allison E. Dender Tailwind Capital Vice President New York, NY Harris C. Drantch Coppermine Capital Vice President New York, NY Matt R. Filer Ventus Health Investors, LLC Managing Partner Philadelphia, PA Andrew S. Goberstein Thomas H. Lee Partners Vice President Consumer / Healthcare Boston, MA Jotham H. Klein SFW Capital Senior Associate Private Equity Rye, NY Michael P. Klein Goldman Sachs Associate West Region Advisory San Francisco, CA David E. Mishkin Oxeon Ventures Director Venture Capital New York Jon M. Reese General Atlantic Vice President Healthcare New York, NY B.A. Sillah, MD Militia Hill Ventures Associate Venture Capital Philadelphia, PA Michael L. Suiters Sandbox Industries Associate Venture Capital Chicago, IL HEALTH CARE MANAGEMENT CONSULTING Huda N. Almanaseer McKinsey & Company Associate Implementation Chicago, IL A. Toby AuWerter McKinsey & Company Associate Minneapolis, MN Rachel L. Belzer Deloitte Consulting Senior Consultant Deloitte Digital Seattle, WA Christine A. Casey McKinsey & Company Associate New York, NY Elizabeth L. Celata Boston Consulting Group Project Leader Philadelphia, PA Raul Estrada Echagaray Bain & Company Consultant Los Angeles, CA Gonzalo T. Ferrer Bain & Company Consultant Dallas, TX Prerak Garg McKinsey & Company Associate Operations Summit, NJ Julia S. Goldner Oliver Wyman Engagement Manager Health Services New York, NY Julie S. Goodman Deloitte Consulting LLP Senior Consultant Strategy & Operations Boston, MA Glen E. Graves McKinsey & Company Associate Denver, CO Nathalie J. Herman LEK Consulting Consultant New York, NY W. Tyler Jorgensen Boston Consulting Group Consultant Boston, MA Susan J. Kim Deloitte Consulting Daniel G.
    [Show full text]
  • Changes in the Selection Criteria of a Management Consultant in North-Eastern Hungary 2001-2016
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Tokár-Szadai, Ágnes Article Changes in the selection criteria of a management consultant in north-eastern hungary 2001-2016 Journal of Contemporary Economic and Business Issues Provided in Cooperation with: Ss. Cyril and Methodius University in Skopje, Faculty of Economics Suggested Citation: Tokár-Szadai, Ágnes (2018) : Changes in the selection criteria of a management consultant in north-eastern hungary 2001-2016, Journal of Contemporary Economic and Business Issues, ISSN 1857-9108, Ss. Cyril and Methodius University in Skopje, Faculty of Economics, Skopje, Vol. 5, Iss. 2, pp. 19-31 This Version is available at: http://hdl.handle.net/10419/193489 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence.
    [Show full text]
  • Customer Service Innovation-Top 4 Strategies to Win in This
    1. Enable seamless multi channel and front-end integration of systems and the ability to 3. Redefine evaluation criteria for 4. User Experience, key to digital The way ahead process, location and time. Leverage the customer customer experience identify the customer regardless of the channel. customer service engagement The service approach you outline today will decide how segmentation work done by your marketing department to your customers interact with your brand, a few months better direct your engagement and support efforts across The rules of engagement remain the same service―satisfy User Experience (UX) is defined as a customer’s perception Mindtree conducted a survey across 100 existing and If you expect customer services to drive loyalty and manage down the line. With brands becoming more competitive, the appropriate channels and target audience. In addition, and retain. But succeeding in an omni-channel of human-computer interaction through a specific channel prospective clients visiting our innovation hub, Digital Pumpkin, end-to-end customer experiences, then the way you need for customer service innovation is no longer a matter make the following changes in the way in which you handle world, also requires unified systems, data flows, analytics, or device. It includes the customer’s experience of using a Bangalore for well over an year. In the course of the survey, I measure and reward these activities must change. of choice. customer service in the digital age: cross-channel visibility, customer information and device based not only on its ‘look and feel’ but also on its realized that many organizations understand that the customer Performance measurement of customer service is generally Proactive assistance: Make your customer service knowledge management.
    [Show full text]
  • DEEP THOUGHTS Magnet 360 Wins Best Cross-Cloud Solution Social Media Analytics: Insights That Standard Kpis Award from Salesforce Fail to Generate
    Paul Gottsegen Chief Marketing and Strategy Officer SPOTLIGHT Mindtree positioned as a leader for digital services by Zinnov Leading advisory firm Zinnov has named Mindtree a leader in 'Zinnov Zones for Digital Services'. This comprehensive analysis It's a cruel world. Every business must be driving growth to measured companies on digital prowess including the breadth stay relevant and reinventing themselves along the way of service offerings, ecosystem leverage, talent, proprietary while at the same time continuously improving core assets, and new engagement models while also considering operations. I once read that 'It is not the strongest or the scale, clientele and product engineering capabilities. Mindtree most intelligent who will survive but those who can best has been recognized as a leader in Digital Consulting and manage change.' So what can you do to keep IT aligned to Transformation, Design & Experience, Digital Platform the business in a fast-changing landscape? Focus on agile Integration and Data Management & Analytics. development, actively deploy analytics, micro-personalize your marketing, and deliver digital transformation for clients. Download the report >> Read about it further in this month's newsletter. MINDTREE MATTERS DEEP THOUGHTS Magnet 360 wins Best Cross-Cloud Solution Social media analytics: Insights that standard KPIs award from Salesforce fail to generate Every year Salesforce recognizes five of its partners that It's quite evident from the statistics that social media has been have delivered digital marketing success to its one of the key differentiators in the growth story of e- customers. Magnet 360 helped Purina bring multi-channel commerce firms. Companies are investing in social media for marketing in-house to create a streamlined sales and promotions and for customer acquisition and customer marketing automation solution utilizing Marketing Cloud, service.
    [Show full text]
  • Office of Career Services Consulting: Management
    QUALIFICATIONS TO ENTER THE FIELD OFFICE OF CAREER SERVICES + Most consulting firms tend to hire people with advanced Career Opportunities in degrees, such as law, business, and other specialty areas or with CONSULTING: MANAGEMENT AND some specialized experience. STRATEGIC + Academic excellence, leadership and team skills developed from Description of the field extracurricular activities, and Management consultants are professionals who are trained to solve private sector experience problems, devise strategies, and improve the general health of their clients derived from internships are no matter what the industry. Management consultants help clients solve important in the consideration specific problems that are usually focused on the short-term, while process. strategy consultants research and develop strategies for attaining the long-term goals of the company. Companies hire consultants not only for + Besides outstanding academic their problem solving abilities, but also for their objectivity. records, firms want people who are problem solvers, creative Typically, consultants conduct research, analyze data, prepare reports, thinkers, good communicators, and present findings; less frequently a management consultant will and who have a keen become involved in the actual implementation of the plan. Profits are understanding of and interest in derived from fees to clients, which consequently break down into "billable business. hours." In general, the work environment is fast-paced, stimulating, and involves long hours. Workweeks of between fifty to seventy-five hours are + The following qualities are not unusual. essential for consultants: Management consultants tend to work in teams of three to four individuals o Excellent oral and written with one person assuming the leadership role. Travel is another important communication skills aspect of a management consultant's professional life, as spending time o Strong analytical abilities with clients on the premises is an essential part of the consultant's (including quantitative responsibilities.
    [Show full text]