Preview

In the current economic climate. What are the biggest challenges and biggest opportunities facing new managers entering Consultating Industry?

Satisfactory Essays
Open Document
Open Document
811 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
In the current economic climate. What are the biggest challenges and biggest opportunities facing new managers entering Consultating Industry?
Unit 4
Topic: In the current economic climate. What are the biggest challenges and biggest opportunities facing new managers entering Consultation Industry?

Name: WEIJUN, HUANG (Benjamin)
Student No: 4811084
Module: APS
Unit 4

1.0 INTRODUCTION

Nowadays, with the economic globalization, the competition has become more and more intense. How to achievement in the changing and superheating age, the firm must have the clearly understand of the market and the professional strategy plan to execute. Consultant Company as the professional adviser for company or individual for a fee (Szczerba 2014) has played an important role in company support. They establish trusting long-term relationship with the client, and provider the surrounding information, professional data analysis and high-level strategy advice. The reason why the consultant companies are so professional in giving advice for different companies is that: Firstly, they have many accounting data or they are a huge accounting firm directly. Secondly, they have many professional consulters to face different situation.
Personally, as a MBA student, I dreaming to join the world top 5 consultant companies: 1.McKinsey & Co. 2The Boston Consulting Group 3.Bain & Co.4Booz & Co. 5.Deloitte Consulting LLP (Stott 2012). However, in this economic climate, there is many new manager entering this industry, therefore, there are big challenges and opportunities for me.

2.0 New manager enter
For the consultant demand increase dramatically, the consultant delivery many advertisement in different professional channel, such as The Gateway newspaper (2014), to attract professional people, therefore, there are more and more new manager enter this industry. There are two mainly person join this industry:
2.1 The graduation from business school.
As we all know, more and more students and families realized that if you want to succeed in business, you should have enough economic

You May Also Find These Documents Helpful

  • Satisfactory Essays

    A consultant is some one who is there to offer advice to those in need of assistance. One benefit of Kate using a consultant to help with her business is that she is able to find out what steps are needed to be taken to help the business run smoothly. A consultant is able to help let Katie know what legal steps need to be taken and what is needed to be done to keep the business safe e.g. Having Insurance. According to the case study Kate was unaware that getting the business insured and following laws regarding hygiene, health and safety was necessary, this shows that without a consultant she would have been oblivious to important factors that may have affected the business in the long run. This shows that using a consultant is a benefit to Kate’s business especially as there are specific guidelines that need to be followed when dealing with food products and having which a consultant can inform Kate about due to experience and knowledge.…

    • 2196 Words
    • 9 Pages
    Satisfactory Essays
  • Satisfactory Essays

    With a well-established experience base, Analytical Consulting Group, LLC can apply our expertise at a competitive rate. Our experience will allow us to commit our resources, being your long-term provider of all your outsourcing, consulting, and training needs. We develop long term business relationships by offering high quality services, exceeding clients expectations and contributing to their long-term business and technology objectives.…

    • 82 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    The management made the decision because they want to solve some particular problem that they either don’t have the time or the expertise to solve. Therefore, consultants will be the best to solve the problem of training and also implement the solutions. Consultants may also help the management team to define the problem they encounter and assist them reach their own conclusion. The involvement of the outside consultants does not move Graeter’s from its roots as a family business. This is because the consultants will be brought in to solve some problem in the business. This will help in the cultivation…

    • 434 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    External resources such as vendor’s consultants provide knowledge and skill necessary for the change. The consultants can make site visits and demonstrate the products, provide their company’s research, and proof of organizational savings to the staff. Training workshops are also another important resource to ensure positive change.…

    • 1536 Words
    • 7 Pages
    Powerful Essays
  • Better Essays

    The global market continues to change the focus of the goals and objectives set within the structure of organizations. The structure of an organization must be built on awareness of the quality and performance of competing business in order for the company to have long term success (Birr, 2008). The rise of the business’ success is depends on the goals being pursued and implementation of methods developed to achieve those goals.…

    • 1195 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Their competitive advantage was derived from their successful field consultants who provided consulting and support to customers…

    • 990 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    An essential step in any business’ strategy formulation is to evaluate the competitive environment that shapes its operations. Every industry can be thought of like a giant chess board – on which companies are continuously battling one another, all wishing an all time victory. Anyone who has ever entertained a game of chess knows that the only way to win is to fully take advantage of the opportunities the game brings and of course be weary of the threats the adversary poses. This analogy is tailor made for life in the business world as only companies that have mastered this environment awareness become stories of success.…

    • 324 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    dcdcdc

    • 316 Words
    • 2 Pages

    Why consulting? And what business sector excites you? Financial services, oil and gas, technology, travel and leisure … but the truth is I do don’t know a lot of it has to due with timing and my management team in addition a lot of it has to do with randomness.…

    • 316 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Naivete or Boldness?

    • 1797 Words
    • 8 Pages

    Consultant: He offered an advice to CEO and if CEO agreed, he could not only earn reputation but also earn much more income from this deal.…

    • 1797 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Today McKinsey has over 7,500 consultants in 90 offices across 51 countries. They help solve strategic, organizational, operational and technological problems, for some of the world's largest organizations. Clients include three of the world's five largest companies, two-thirds of the Fortune 1000, governments and other non-profit institutions. McKinsey also performs pro bono engagements for a number of charitable organizations and government agencies worldwide. 'Forbes' estimated the firm's 2005 revenues at $3.8 billion in its list of largest private companies.…

    • 3251 Words
    • 14 Pages
    Powerful Essays
  • Better Essays

    The organization design in place at McKinsey was general in nature. The consultants were to be well trained, highly intelligent, disciplined analyst. Though the employees were good problem solvers, they often lacked knowledge concerning the industry, which was demanded by the clients. McKinsey operated under a One Firm policy. The policy requires all consultants to be recruited and advanced on a firm-wide basis, all clients be treated as McKinsey & Company responsibilities, and that profits be shared from a firm pool, not an office pool. The vision of the firm stated they wanted to be "one focused on issues of importance to top level management, adhering to the highest standards of integrity, professional ethics, and technical excellence, able to attract and develop young men of outstanding qualifications, and committed to continually raising its stature and influence. Above all, it was to be a firm dedicated to the mission of serving its clients superbly well" Currently, within the company there is more emphasis placed upon expanding geographically and new practice possibilities, and less emphasis on technical development and professional skills.…

    • 2230 Words
    • 7 Pages
    Better Essays
  • Good Essays

    A Case of Mbo

    • 1318 Words
    • 6 Pages

    Their vision was to become the most succesful and leading international business consultancy firm.Their mission was to provide diverse services and coordination to the clients to improve and enlarge their capabilities,to fulfill the demand of customer,contribution to the community.The objective of the business were to keep market growth,expansion and wealth maximisation,to keep quality of the service and obtain long term sustainability.Hence it was service-based organization ,the employee is the central point of its strategy.As a part of the internal management strategy,top management organize quarterly survey system in order to get all types information including employee attitude,customers attitude,account.They put a suggestion box in front of the reception to take the idea from their employees,clients,visitors etc.…

    • 1318 Words
    • 6 Pages
    Good Essays
  • Good Essays

    In an insurance industry, the insurance agent possesses multi-faceted roles to play as enlisted below:…

    • 1067 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Every year, thousands of Business Administration graduates prepare resumé and other requirements for employment negating the essence of their chosen degree. This bring about questions as to whether or not our educational system or curriculum is designed in such a way that it could motivate graduates to engage into businesses after graduation. According to Robert Kiyosaki, "Our current educational system focuses on preparing today's youth to get good jobs by developing scholastic skills rather than influencing them to become entrepreneurs and thus generate more jobs.…

    • 4955 Words
    • 20 Pages
    Powerful Essays
  • Better Essays

    It is needless to say that the International Business Environment (IBE) is the environment or broad conditions in which businesses are held across the world, by and large . Again, it is needless to say that the present world is given to growth and development, which flows from business enterprises of all sorts- agricultural, industrial, service, etc. For instance, India’s economic policy is focused on a 9-10 per cent rate of economic growth for a generation and more, following perhaps the example of China which is dominating the business world or world exports, for not only extinguishing the age-old mass poverty but also to take the country to the ranks of developed countries. The 9% rate of growth is the for-ever refrain of the UPA government, particularly its economist prime minister, Dr. Manmohan Singh, an economist of world-standing. The second UPA government- UPA-11 (2009-14) has got more strident about growth, as the be-all and end-all of the Indian economy and its business sector. It doesn’t seem to matter even if an economy is over-heated in the process of a high growth drive, and the environmental and human or real costs prove to be quite high, and almost prohibitive. There doesn’t seem to be high growth without certain or a fair amount of human suffering and environmental damages; a certain ‘trade-off’ between the three-some. The world, at large, is on a high growth…

    • 2243 Words
    • 9 Pages
    Better Essays