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Capture Consulting Offers Aligning Your Fit for Consulting Session 2 | February 19, 2019

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Capture Consulting Offers Aligning Your Fit for Consulting Session 2 | February 19, 2019 Capture Consulting Offers Aligning Your Fit for Consulting Session 2 | February 19, 2019 1 Session Date Topic / Outline Kickoff | Building a Fit for Consulting • Consulting / Career Path • Entrance Criteria 1 Feb 5 • Your Fit Assessment / Spark / Career Goals • Gaps for Advanced Degree/Non-MBA Candidates • Building Business Acumen and Case Skils WE ARE HERE Aligning Fit to Consulting FIrms • Industry Overview • Consulting Firm Landscape - Firms, Specialties | Big vs. Boutique WE ARE HERE Feb 19 • Approach to Firm Research 2 • Assessing and Aligning Your FIT • Networking as Research • Case Interview Preview Get the Interview • Resume Deep Dive Summer program 3 Mar 5 • Cover Letter Deep Dirve • Networking and Importance/Integration application dates are posted! Applications <<1-1 Resume Reviews! Noon-5pm>> due March-April. Get the Offer: Part 1 • Case Interview Practice Methods 4 Mar 19 • Experience Interview - Overview • Building Your Story Matrix • Creating SOAR Outlines Get the Offer: Part 2 • Resume Walkthrough Case Workshop Apr 2 • Common Questions April 28 | 10am-6pm 5 • Challenging Questions $50 • Wrap-up/Next Steps 2 TO ACCESS SESSION MATERIALS AND RESOURCES GO TO www.archcareerpartners.com/uchicagogcc-2019 3 AGENDA CCO Session 2| Aligning Your Fit Context Fit Activities u Consulting industry u Approach to firm u Networking as overview research research u Consulting firm u Assessing/aligning u Case interview landscape your fit preview 4 Context 5 The rise of the “knowledge” profession James O. McKinsey Management Consulting 6 Establishing the modern role of consultants Marvin Bower Bower’s Core Principles 7 Consulting’s evolving role and impact 1920s-30s 1940s-50s 1960s Evolution • Involved in • Added government • Brought • Primary, original reorganizing many and nonprofit “American” role: Dissemination of the US industry clients management to of ideas, to drive titans GM, Swift, US • Expanded Europe organizational Steel, and Sears internationally • Focus on innovation • Spread the • Connected private, decentralizations • Demonstrated multidivisional public, and and long-range entrepreneurship corporate form nonprofit planning and growth McKenna, C. (2001). The World's Newest Profession: Management Consulting in the Twentieth Century. Enterprise & Society, 2(4), 673-679. 8 Consulting’s Family Tree: The “Founders” 1973 2013 1992 1963 2008 1947 1909 1917 1926 9 Consulting’s Family Tree: Accounting’s Evolution 10 Universe of Consulting Firms • Accenture • Clerestory • Infosys • PwC (includes • AlixPartners • The Chartis Group • KPMG Diamond/PRTM) • Altman Vilandrie • Civic Consulting • The Keystone Group • ReD Associates • Aon Hewitt Consulting Alliance • Kurt Salmon • Roland Berger • Arthur D. Little • Crowe Horwath • LEK Consulting • Samsung Global Strategy • AT Kearney • Deloitte • Marakon • Schlumberger Business • Bain & Company • Edelman Management • Mars & Co Consulting • Blue Ridge Partners Consulting • McKinsey & Co • Siemens Management • Booz Allen Hamilton • Ernst & Young • Mercer Consulting • Boston Consulting Group • Fidelity Business • Monitor Deloitte • Simon-Kucher and Partners • Blue Ridge Partners Consulting • Navigant • Slalom Consulting • Bridge Strategy • First Annapolis • Ocean Tomo LLC • Stax • Bridgespan Consulting • Oliver Wyman • Strategy& (now PwC) • BTS • Genpact • The Parthenon Group (now • Waterstone Management • CapGemini • Gillum Strategy Partners E&Y) Group • Campbell Alliance • IBM • Point B • West Monroe Partners • Capitol Consulting • IDEO • Prophet • Wipro • Clarion • IMS Consulting • Putnam Associates • ZS Associates • Claro Group 11 What is the meaning of the Universe 12 Universe of Consulting Firms: Breakdown Groups Firms Boutique: Large: • Arthur D. Little • Keystone • MonitorDeloitte “PURE” • AT Kearney • McKinsey • BTS • LEK Consulting • The Parthenon • Bain • PwC/Strategy& STRATEGIST • Bridge Strategy • Marakon Group (E&Y) • BCG • Roland Berger • Gillum • Mars & Co • Stax INTERNAL • Fidelity Business Consulting • Siemens Management Consulting CONSULTANTS • Samsung Global Strategy Technology-base: Business: • Accenture • IBM DIVERSIFIED • Deloitte • Oliver Wyman • CapGemini • Slalom Consulting • E&Y SERVICES • PWC • Genpact • West Monroe Partners • KPMG • Infosys • Wipro • Aon Hewitt Consulting (HR) • Mercer (HR) FUNCTIONAL • Blue Ridge Partners (Revenue) • Navigant (Expert services) • Cambridge Group (Growth) • Prophet (Marketing, Brand, Innovation) SPECIALISTS • Edelman (Brand, Org, Corp) • Simon-Kucher (Marketing, Sales) • IDEO (Innovation, Design) • ZS Associates (Marketing, Sales) • Altman & Villandrie (Tech) • Gothan Consulting Partners (Private Equity) INDUSTRY • Booz Allen Hamilton (Gov) • IMS Consulting (Life sciences) • Bridgespan (Nonprofits/Philanthropy) • Putnam Associates (Life sciences) SPECIALISTS • Civic Consulting Alliance (Gov) Slumberger Consulting (Energy) • Clarion | Chartis (Healthcare) • Waterstone Management Group (Tech) EXPERIENCE-BASED • AlixPartners • Point B 13 Aligning Your Fit 14 Approach to Firm Research Build Secure Achieve Knowledge Interview Offer 15 Research & Networking: Primary Research 1 2 3 4 Research “Primary Integrate research Networking: and Research” into networking, LEARNING vs. networking: use networking for SELLING Same goals research 16 Networking and Research Goals 1 2 3 4 LEARN SHARE CONNECT DEMONSTRATE Learn about the firm Share interest Connect you to consulting Demonstrate skills 17 Firm-level Knowledge Building Knowledge to Obtain Actions to Build Knowledge • Overview of Firm READING: • Philosophy | Mission | Approach • Firm website • Organizations of Firm • Vault | Wet Feet Guide ² Industries • Firm publications ² Service Offerings • Glassdoor.com ² Groups (Generalist, Industry, Function) • Internship profiles from second-year MBAs • Firm Terminology • LinkedIn • Candidate Profiles (most typical) • Resumes from prior first and second-year MBAs • Consulting Model • Publications – Consulting Magazine, Working Mother • Point of View | Recent Perspectives • Books (ex: The McKinsey Mind) • Projects – type, problems, scope of work • Culture | Consultant Experience RESOURCES: • Professional Development – Staffing, Performance ²Career Services – Consulting Roadmap Management, Transfers, International Assignments, etc. ²Second years who interned at firms • Exit Considerations ²First years from consulting firms • Interview styles | Case structure | Priorities ²Alumni ²Friends, family, others in your network 18 Firm Research & Networking: Synthesis BUILD A SYSTEM 19 Assessing / Aligning Your Fit Brand name Boutique Established Emerging International Locally-based Generalist Specialist Industry VS. Function Structure Ambiguity Long-term Short-term Diversity Strong culture Consult Manage/firm build 20 Activities 21 Interview Preparation 1 2 3 4 5 Network Research Build Job Search Prep Cases Prep Experience Build knowledge Know distinctions Tools Practice 50+ cases Interview and advocacy between firms (Quality > Quantity) Showcase your background Excel at this area • Primary research • Create target • Resume • Business issue • Why Consulting to learn about firms • Cover letter variety • Why [this firm] firms more • Answer “Why do • LinkedIn profile • Show structure • Resume questions deeply you want to and insights • Create work for our • Introduction • Behavioral and (Elevator Pitch) • Practice firm experience relationships that firm?” styles become questions advocates to • Firm specific support questions interview • Questions you will invitations ask • Closing the interview 22 Firm Research: Starting Point Firms provide a wealth of information valuable to the interview process CAREER SERVICES CASE STUDIES PUBLICATIONS INFORMATION 23 Firm Target List Group A Group B Investigate Non-Consulting 24 What does a case interview assess? PROBLEM SOLVING Communication REAL business problem Pragmatism Analytics NO RIGHT answer Problem Solving ATTENTION to structure Creativity Prioritization NOT about “cracking the case” 25 Video Demo Case Interview: Cruise Co https://youtu.be/qbP8QKlXjKg 26 Wrap-Up 27 • Do your homework • Firms have different cultures Summary • Your fit will be clear • The right firm fit creates the best career advancement • Do both - primary and secondary research CONSIDERATIONS for Next Session 1) Your preliminary view of fit 2) Beginning steps to convert your CV 3) What activities to engage in now to explore and prepare 28 Next Steps 1 READ 2 TALK TO STUDENTS/ALUMNI 3 BEGIN TO CONVERT YOUR CV 29 Capture Consulting Offers Presented by: Pam Schilling www.archcareerpartners.com 30.
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