5 TIPS

FOR
PERSONAL
 PIQues
tions
Telluss omet hingabouty ours el
f.
Des cr i
bey our selfinonewor d.
Telluss omet hingabouty our sel
ft hatisnotony our
resume.
Wha tar ey ourk eys treng thsandweak nesses?
Whydoy ouwantt og of orMBA?
WhyMBAa ery ourr especv eunderg radua onand
notmas t
er sinourownfiel d/j ob?
Whydi dyoul e y ourj ob?
Visionandmi ss i
onofy ourpr ev iousc ompany .
Wher edoy ous eey our selvesi nfiv ey ears?10y ears?20
year s?
Tellusabouty ourf ami lybac kg r
ound?
Tellusabouty ourna v epl ac e?Wha tisspec i
althere?
Names omef amousper sonsf rom y ourplac e.
Howdi dfami lybac kgr oundi nfluenc ey oureduc a on?
Wha tist hes ing l
emos tmemor abl
eori mpor t
antthi ng
thathappenedi ny ourl ifebef oreyoufini sheds chool?
Dur ing y our under g radua tes t
udies , descr
ibe one
event /
incident ,smal lorl arge, thatmak esy ouex t
remel y
proudofy our selfasaper son.
Men on any i nc i
dentwher ey ou wentoutoft he
wa y/ defieds etc onv en onst odos omething?Ex plain
yourr a onalebehi ndi t.
 PIQues
tions
Inyour measanunder gradua t
es tudent,s electoneac -
v
ity[ i
ns ideorout s i
dec ampus ]t hatyoudi dveryo en
becaus ey ouenj oyedi t[ maybeany t
hingf rom spor t
s,
theatre,ac ademi cs,any t
hing ]anddes cri
bei t
si mpac t
ony ourg rowt hasaper son.
Whi chwasy ourf a vorit
es ubjectinUGandwhy ?
Whi chs ubjec twast het oughes tandhow di dy oudeal
withi t?
Wha tar ey our eallypas si
ona teabout ?
Ha vey oumadeanyeffor ttopur suey ourpas si
on?I fso,
how?I fnot ,whynot ?
Given t he c hanc e,pr i
oriz ey ourpr ef
er enc e ofnew
II
M’ s?
Whys houl dwes electy ouov erot hers
?
Accor dingt oy ou,wha tar et hequal iesr equiredi na
candida t efordoi ngMBA?
Howdoy oudes cr i
bet hees senceofs uc ces s?Hows uc-
cessfuly ouha vebeens ofar?
Ifyous t arty ourc areerag ai
n,wha twoul dy oudodi ffer-
ently?
Desc ri
beani nc i
dentwher ey our esolv
eds omec onflict?
Wha tdi dy oul earnf rom it?
Wha t/ whom doy our espectthemos tiny ourl i
fe?
Wha twast hemos tdiffic ultdec i
s i
ony out ooki ny our
l
ifes of ar?
MoneyorF ame?Wha twoul dy ouc hoose?
WATT
opi
cs
 WATT
opi
cs

h p:
//mes
ofindi
a.i
ndi
a-
mes
.com/
bus
ines
s/i
ndi
a-bus
ines
s/I
n-
di
a-among
-top-
10-
count
ri
es-
wit
h-hi
ghe
s
t-per
cent
age-
of-
cos
-pr
ovi
ding
-pa
ter
nit
y
-adop on-
lea
ve-
abov
e-s
tat
utor
y-r
equi
r
ement
-Mer
cer
-repor
t/arc
les
how/
544
08693.
cms
 WATT
opi
cs

h p:
//www.
laz
y-bl
ogger
.com/
chal
leng-
es
-pr
obl
ems
-of
-a-
wor
king
-woman/
WATT
opi
cs
Somemor
eTopi
cs
Cur
rentCE
OandCF
OofT
atag
roupandT
CSandt
hec
ompanyonehadwor
ked
T
uss
lebet
weenRa
tanT
ataandCy
rusMi
str
y
Demone s
a onar
ights
teporwr
ongi
nshor
tter
m andal
soi
nthel
ongt
erm
I
mpac
tofMak
einI
ndi
a,S
tar
tupI
ndi
a,J
anDhanY
ojanaanddi
ffer
ents
chemes
ofg
over
nment
.
El
econofAmer
icanPr
esi
dentT
rumpt
othepowerandi
tsc
ons
equenc
esonpol
-
i
ci
esofdi
ffer
entc
ount
ri
esi
ncl
udi
ngI
ndi
a
Upc
omi
ngel
econi
ndi
ffer
ents
tat
esofI
ndi
a,Pol
icalt
uss
lei
nU arPr
ades
h
I
sleaderbor
norar
etheyar
emadei
nmanag
ements
chool
s
Et
hic
sinbus
ines
sar
ejus
tapas
singf
ashi
on
DemandsonNewManag
ersandhowHRc
anhel
p?
F
lex
i mi
ngorfix
edwor
k–whi
chi
sbe era
twor
k?
E-
lear
ning–as
ubst
utef
orc
las
sroom l
ear
ning
?
Car
eeradv
anc
ementoppor
tuniesf
orempl
oyees
?
Thes
tar
tupst
ryi
ngt
ofixt
hebi
aspr
obl
emsi
nhi
ri
ng
Ri
seofN.c
handr
asek
aranast
hec
hai
rmanofT
ataGr
oup
El
eva ngHumanCapi
talI
nves
tment
s
Wor
k-l
if
ebal
anc
e,Wor
k-l
if
eint
egr
a on
HRi
scr
icalt
oac
ompany’
ssuc
ces
s
Na onalAnt
hem i
nci
nemahal
ls
Y
out
h-c
onfidentorc
onf
used?
I
nter
viewi
ngi
snotone-
sided
Needf
ors
mar
tcies
E
QorI
Q
PIPr
ep-Mar
ket
ing
Whatisaproduc t
?
“
Producti
sany t
hingt
hatcanbeoffer
edt
oamar
ketf
ora en on,ac
qui
si
-
on,us
eorc onsump on”(Kot
ler
)

Whati sser
vice?
“Anyactorper f
ormanc
ethatonepar
tycanoffertoanotherthati
sessen-
all
yintangi
bleanddoesnotres
ulti
ntheownershi
pofany t
hing.I
tspro-
duconma yorma ynotbe edtoaphysi
calpr
oduct“(
Kotler
)

Whataret hediffer
encesbet
weenpr
oduc tands ervice?
Produc
t Servi
c e
I
tisTangible Iti
sI ntangible
Homog eneous Heter ogeneous
I
tcanbek eptins
toc
k Produconandc onsump on
happens i
mul taneously.Thus
,
i
tc an’tbek epti nstock
Tr
ansferofownershi
p Not ransferofowner ship
I
tisat hi
ng Iti
sanacv i
tyorpr ocess

WhatisMarket?
Marketi
sapl aceorcommonpl a orm wherebuyersands el
ler
sc ome
tog
etherforexchange ofgoods,serv
ices & i
nforma on.When t he
exc
hangeofgoodshappensi
nretur
nofmoneyt henitisc
all
edtransacon.

Whati sMarke ng?

Mar k
e ngistheprocesstoi
den fy
,an ci
pat
eands asf
yc us
tomerneeds
.
Itisaboutcommuni ca ngtheproduc
tands ervi
cet
ot hec us
tomerby
advers i
ngforthepurposeofpr
omo ngands el
li
ng
theproductandserv
ice.
PIPr
ep-Mar
ket
ing
Whati sthediffer encebet weenmar ke ngands al
es?
Thereisav erythinlineofdi ffer encebetweenmar ke ngands al
es.
Sal
ess t
artwhent hepr oduc tisa vai
labl
einthemar ketpl
ac eforconsump-
on.Salesisther etail
er’sfuncont ohaveconfidenceinpr oductforcul-
va ngc ust
omer ’sadv ocacyfort hemak erofproductorserv i
ce.
Marke ngc r
eatest hepr oces sforsalestohappen.I ti
sbr oaderins c
ope
andistheong oingpr ocessl ltheproductisi
nmar ket.I
tiden fiest hecus
-
tomer,theirneeds ,tomeett hedemand.

Whati st hediffer encebetweenac ust

omerandc onsumer?
• Cus tomer–Buy er
,butnotnecessar
il
yaus er
• Cons umer–Mi ghtbeaBuy er
,butnecessari
lyauser
.
Apr oducti sdesignedtogivemaximum sas f
acont othec onsumeranda
productisbr andedandadv ersedi namannert hati
tmakest hemaxi
mum
appealt ot hecustomer.
Exampl e:Af atherpurchas
esa5starforhi
sson,herefat
heristhecust
omer
ands onist hec onsumer.

Whatare4P’sofmar ke ng?
The4P’sofmarke ngare:
Product
:Theyaret heg oodandservi
cesf
orsal
e.Cust
omerc
ons
ider
s
desi
gn,qual
it
y,f
eaturesandfunconal
it
yoft
heproduc
t.
Plac
e:Thesear
et hemethodsofdi
str
ibu on,
channel
andl
ogi
scsinwhic
h
theproduc
treachesthecust
omer.I
tincl
udesloc
a onoft
hebus
ines
s.
Pr
ice:I
tistheamountthecus
tomerneedst
opa yt
opur c
has
et hepr
oduct.
Di
scount,paymentt
ermsandcredi
tperi
odisc
onsider
edintheproc
ess.
Promo on:Itistheac tofcr
ea nga war
enessofthepr
oducti
nthecon-
sumer.Itinvol
vespersuadi
ngc ons
umersintocust
omersbymethodsof
advers ements
,salespromo on,pers
onals
ell
ing
anddirectmarke ng.
PIPr
ep-Mar
ket
ing

Whatar
e4Csofmar
ke ng
?
PIPr
ep-Mar
ket
ing
WhatisSegmenta on,T
arge ngandPosioning(STP)?
I
tisnotpos s
ibl
ebyt hecompanyt oser
veallit
sc us
tomer
sinabroad
mark
et.Thecompanyneedstoiden f
ythekeymark etseg
mentss
othati
t
cans
erveit
sc us
tomermoreeffecv el
y.
Mark
ets
egment
a on:Themainconceptofseg
menta oni
stoiden f
yand
pr
ofil
edi
snctgroupofbuy
ersthatmayha v
ec ommonneeds
.
Markettar
ge ng
:Oncetheseg
menta oniscomplet
ed,themark
eterhas
t
odec i
dewhic
hs eg
menthe/
sheshal
ltar
gett
os el
lhi
s/herpr
oductors
er-
vi
ce.
Marketposioning:A erseg
menta onandtarge ng,mark
eterhast
o
est
abli
shandcommunicat
ethebenefit
sofoffer
ingtodevel
opanimagei
n
themindsofc
ustomer
.
PIPr
ep-Mar
ket
ing
Tel
lmesomethi
ngaboutPL
C(Produc
tli
fec
ycl
e)
Ther
ear
e4s t
agesofpr
oductl
if
ecycl
e:

1.Int roduc on:I tisthes tagewher et hepr oductislaunchedi nt

ot he
mark et.Cons umer stesttheproductint hisphase.
2.Gr owt h:Itist hestageinwhi chthemar kethasacceptedt heproduct
andt hes al
esha vebeg untor i
se.Consumer sbec omemor einteres
tedinit
.
3.Mat urit
y:Itisthes t
agewher ethes alesreachitspeak.Themar kethas
reacheds atura on.
4.Dec line:Iti
st hestagewher ethes al
esbeg into
decl
ine.E conomi candpr oduconc ondions
becomeunf avourable.
PIPr
ep-Mar
ket
ing
Whyi sonli
nemar ke ngsoi mpor tant?
Onli
nemar ke ngisi
mpor tantbec ause:
1.I
tallowssta scstobemeas uredmor eeas
il
y.
2.I
t’saneffecv e&i nexpensivetec hni
quecomparedtoothermedi ums.
3.I
tallowsinc
reasi
ngther eachoft heproduct
,ther
ebyprovi
dingflex i
bil
it
y
tocustomersoftheworldt oresearchandpurchasi
ngproduct
s .
4.Campaignscanbealteredtoappealt othet
arget
edcustomers eg
ment .

S
WOTAnal
ysi
s
PIPr
ep-Mar
ket
ing
S
OMEMOREF
ACTSABOUTMARKETI
NG:
Therear eseveraltypesofmar ke ng,s omeoft hem thatareimpor tantar e:
•Dr i
pMar ke ng:S endingv ari
ouspr omo onali temst oCli
ents.
•Vi r
alMar ke ng :Whenmar ke nghappensbywor doft hemout hi ti
sr eferred
asv i
ralmar ke ng .Thebes tex ampl ef ort hi
sisc r
ea nga' buz z
'inthei ndus tr
y.
•Guer ill
aMar ke ng :Itisanunc onv en onalmar ke ngintendedt og etma xi-
mum r esult
sfrom mi nimalr esourcesi .e.lowc ost.
•S ocial MediaMar ke ng:Mar k
e ngus ingonlinecommunies ,s
ocialnet wor ks,
blogmar ke nget c.iscall
edt hes oc i
almedi amar ke ng.
•I nt
er netMar ke ng : Mar ke ngofpr oductsors ervic
esov ertheI nter neti s
call
edI nter
netMar ke ng.I tisals ok nownasi -
mar ke ng,web- mar k
e ng,on-
li
ne-mar ke ng,Sear c
hEng ineMar k e ng( SEM)ande- Mar k
e ng .
•Di gi
t alMar ke ng :Themar ke ngwhi c
hus esdig i
taladvers i
ngisc al
leddi gital
mar ke ng .Televi
sion,Radio,Inter net,mobi l
eet c
.

S
OMEMOREIMPORT
ANTQUES
TIONS
:(ans
wer
svar
yfr
om per
son
t
oper
son)
:
1.Sel
lapent ome
2.Wha tmakesy ouas ucces s
fulmarke ngmanager?
3.Whichisyourf avor
itec ompany?
4.Whichyourr ecentfavoriteadyouha veseen?
5.Whydoy ouwantt owor kinmarke ngfield?
6.Compareyour sel
fwi t
hapr oductandcommuni ca
teyourUSP?
7.Tel
lsomethingabouty ourmar k
e ngex peri
ence(i
fyouhav
e)?

F
orcurrentt
rendsinmark
e ng,foll
owusonF
acebooka
t:
h ps
://
www. f
acebook.
com/MarClanI
IMU/
PIPr
ep-
Cons
ult
ing
CONS
ULTI
NGI
NTERVI
EW QUES
TIONS
:
Whydoy
ouwantt
opur
sueCons
ulng
?
Wha
tdoy
out
hinkmak
esag
oodmanag
ementc
ons
ult
ant
?
Wha
t’sy
ourg
rea
tes
tst
reng
thandbi
gges
tweak
nes
s?
How wouldyourprev
iousboss/
sibl
ing/f
ri
endsdes
cri
be y
ou?How
abouti
ftheywer
etodescr
ibey
oui nonly1word?
Pl
eas
edescr
ibeyourmos
timport
antl
eader
shi
pex
per
ienc
eandt
he
i
mpactt
hatyouhadasal
eader
.
Des
cri
beapr
obl
em t
hatyouwoul
dli
ket
otac
klea
t[t
hisfir
m],
whyand
howwoul
dyoupur
sueit
.
I
fIweretospeaktoyourc oll
eag
uesfrom y
ourmos trec
entwor
kexpe-
r
ience(ori
nterns
hip),wha twouldt
heys ayaboutyou?Whatarethe
s
trengt
hsandweak nessestheywoul
ds hare?
Descr
ibeas
itua onwhereyouf
ail
ed.Whatdi
dyoul
ear
nabouty
our
-
sel
fandhowdidy ouc
hangeasaresul
t?

GUES
STI
MATEQUES
TIONS
:
HowManyPeng
uinsCanL
ivei
nAnt
arcc
a?
Wha
tisMar
ketS
izeofAc
ouscGui
tari
nNewDel
hi?
HowManyPeopl
eAr
eint
heAi
rofU.
K.Ri
ghtNow?
Howmanyl
ight
bul
bsar
ether
einMumbai
?
PIPr
ep-
Cons
ult
ing
CAS
EQUES
TIONS
:
Cl
ientXi
sdec
idi
nghow bes
ttoent
eranew mar
ket
.Theyha
vea
c
hoi
ceofbuy
inganex
isngc
ompany
,ordev
elopi
ngt
he t
echnol
ogy
i
n-hous
e.How woul
dyout
hinkaboutadv
isi
ngt
hem t
omak
ethe
bes
tdec
isi
on?
Hows
houl
danuc
learpl
antdealwi
thwas
tepr
oduc
ts?
Anonl
inebr
oker
agei
sgr
owi
ngwel
lbutc
an'
tseem t
oreac
hthei
r
pr
ofit
abi
li
tyg
oal
s;wha
tcoul
dbeg
oingon?
Y
ou'
redi
scus
singac
ont
empl
ateddi
vest
urewi
tht
heCF
Oofal
arg
e
c
orpor
a on.
Wha
tar
esomeoft
hepoi
ntsy
ou'
dwantt
omak
einc
on-
s
ider
inghow ourfir
mcanpot
en al
lyas
sis
thi
m orher
?Wha
tkey
t
hemeswoul
dyouwantt
ohi
ton?
Y
ourc
li
enti
saF
ort
une50aer
ospac
eandDef
ens
eCompanyi
nter
est
-
edi
nent
eri
ngadj
acentmar
ket
sthr
oug
hor
gani
cori
nor
gani
cex
pan-
s
ion.Whi
chmar
ket
sshoul
dsheent
erandhow?
How woul
dyoug
oaboutadv
isi
ngahy
pot
he c
alc
li
entonc
ommer
-
c
ial
iz
ingat
elepor
ta ondev
icet
hatt
heyha
vei
nvent
ed?
S
houl
dIopenChi
ck-
Fil
-AonS
unda
y?
S
houl
dIputWi
-Fionmyai
rl
ine?
Ourc
li
enti
sthi
nki
ngofac
qui
ri
ngac
ompanyt
hatmak
esac
ert
ain
t
ypeofmedi
caldev
ice;wha
tdot
heyneedt
ocons
ideri
nmak
ing
t
hei
rdec
isi
on?
Ourc
li
entwant
stoent
ert
hewi
nemar
ket
;hows
houl
dtheyg
oabout
doi
ngs
o?
 Cons
ult
ingBasi
cs
Cons
ulngs
oundsl
ik
eadr
eam j
obt
oal
otofpeopl
e,andf
ormanyi
tis
.If
y
ou’
ret
hink
ingaboutl
ook
ingf
orj
obsori
nter
nshi
psi
ncons
ulng,t
houg
h,
ev
ery
onewi
llex
pec
tyout
oknow t
hebas
icsoft
hei
ndus
try
.Her
ear
esi
x
t
hing
sev
ery
onei
nter
est
edi
ncons
ulngneedst
ounder
stand.

Ther
ear
etwot
ypesofc
ons
ult
ant
s
I
fyout
ellanyadul
ttha
tyouc
oul
dbei
nter
est
edi
ncons
ulng,t
her
e’sone
c
ommentt
haty
ou’
llhearmor
ethananyot
her
:“I
tfeel
sli
keev
ery
one’
sa
c
ons
ult
antt
hes
eda
ys!
”Thi
sst
atementi
mpl
iest
hatpeopl
eing
ener
aldon’
t
under
standabas
icdi
snconi
ncons
ulng
.Thi
sist
hedi
ffer
enc
ebet
ween
i
ndus
tryc
ons
ult
ant
sandc
areerc
ons
ult
ant
s.I
ndus
tryc
ons
ult
ant
sty
pic
all
y
ha
ve10+y
ear
sofex
per
ienc
einag
iveni
ndus
try
,andhel
pcompani
esmak
e
dec
isi
onsbas
edont
hei
rex
per
ienc
einandk
nowl
edg
eoft
hei
ndus
try
.For
e
xampl
e,s
omeonewhohaswor
kedmanag
ingUPS
’ss
uppl
ychai
nmanag
e-
mentdi
vi
si
onf
ordec
adesma
ydec
idet
otr
ybei
nghi
sownbos
s,ands
tar
ta
c
ons
ulngpr
acc
ehel
pingot
herc
ompani
esi
mpr
ovet
hei
rsuppl
ychai
n
pr
acc
es.Car
eerc
ons
ult
ant
s,ont
heot
herhand,ar
ethos
ewhos
pendt
hei
r
c
areerdev
elopi
ngt
het
ypesofs
kil
lst
hatc
ons
ult
ant
sus
e,i
ncl
udi
ngr
esear
ch,
pr
esent
a on,andanal
ycal
ski
ll
s.Theyaddv
aluebas
edont
her
esear
ch/
an-
al
ycst
heyper
for
m,i
naddiont
othei
rabi
li
tyt
oaddi
nsi
ghtt
oaparc
ular
pr
obl
em.

Ther
ear
ethr
ee(
mai
n)t
ypesofc
ons
ulng
E
vena erdi
ffer
en a ngt
hec
areerc
ons
ult
antf
rom t
hei
ndus
tryc
ons
ult
ant
,
t
her
eisanot
herex
tremel
yimpor
tantdi
vi
si
onbet
weent
hreet
ypesofc
on-
s
ulng
:manag
ement
/st
rat
egyc
ons
ulng,ec
onomi
c
c
ons
ulng,andI
Tcons
ulng
.
 Cons
ult
ingBasi
cs
Ther
eisal
otofov
erl
apbet
weent
hes
egr
oups
,andmanyc
ons
ulngc
ompa-
ni
esha
vedi
ffer
entdepar
tment
sspec
ial
iz
ingi
neac
hoft
hes
e.Her
ear
ethe
mai
nar
easofdi
sncon,t
houg
h:
I
TCons
ulng E
conomi
cCons
ulng Ma
nag
eme
nt/
str
ate
gy

Whoi
syour CT
O,s
eni
orma
nag
eme
nt A or
ney
s CE
O,S
eni
orVi
cePr
esi
-
c
li
entc
ont
act
? de
nt,
orot
hers
eni
or
ma
nag
eme
nt

Wha
tsk
il
lsdo Bus
ine
sss
ens
e,ma
th, S
tasc
s,ma
th,
commu- Bus
ine
sss
ens
e,c
om-
y
oune
ed? c
ommuni
caon,
prob- ni
caon,
ana
lyc
al/
prob-muni
caon,
ana
ly-
l
em-
sol
vi
ng(
prog
rammi
ngl
em-
sol
vi
ng c
al/
probl
em-
sol
vi
ng,
t
ypi
cal
l
ynotr
equi
redf
or pr
ese
ntaon
e
ntr
y-l
eve
lpos
ions
)
Whe
redo T
echnol
ogyi
mpl
eme
nta
-St
asc
al,
econome
tri
c Re
sea
rch,
ana
lyc
s,
y
ours
olu ons on,
probl
em-
sol
vi
ngi
n- a
nal
ysi
s,pr
obl
em-
sol
vi
ng pr
obl
em-
sol
vi
ngi
n-
c
omef
rom? s
ight
s i
nsi
ght
s s
ight
s

Bi
gna
mes I
BM Gl
oba
lBus
ine
ssS
er- Ana
lys
isGr
oup,
Cor
ner
- Mc
Kins
ey,
Bai
n,Bos
ton
v
ice
s,Ac
cent
ure
,Ca
pge
m-s
toneRe
sea
rch,
NERA Cons
ulngGr
oup,
i
ni E
conomi
cCons
ulng L
.E.
K.,
Del
oieCons
ult
-
i
ng
S
ampl
eca
se Howc
ant
hes
ale
sfor
ceof
ac
ompa
nyc
rea
teac
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mag
es Whyi
spr
ofit
abi
l
ityf
al
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t
ral
i
zed,
cons
tant
ly di
dMFGl
oba
lca
usei
ts i
ngi
nthemi
cr
owa
ve
up-
to-
dat
ere
cor
dofa
ll i
nve
stor
sthr
oug
hit
sim- di
vi
si
onofGE
,andhow
c
ommuni
caonwi
thpo- pr
ope
rtr
adi
ngpr
acc
es?c
anwefixi
t?
t
ena
lcus
tome
rs?
 Cons
ult
ingBasi
cs
Tha
tsai
d,t
hedi
snconsdonotendt
her
e.Ther
ear
ehumanr
esour
cesc
on-
s
ult
ant
s,c
rea v
ityc
ons
ult
ant
s,c
hang
e manag
ementc
ons
ult
ant
s,s
uppl
y
c
hai
nmanag
ementc
ons
ult
ant
s,andl
egalc
ons
ult
ant
s,f
orex
ampl
e.Cons
ul-
t
ant
sma
yspec
ial
iz
einani
ndus
try(
e.g
.heal
thc
are)orac
apabi
li
ty(
e.g
.
g
rowt
hst
rat
egy
).Ther
eisal
mos
tnoendt
othev
ari
etyofwor
ktha
tcons
ul-
t
ant
sdo.

Cons
ulngi
sNOTfinanc
e
Peopl
ewhoar
eint
eres
tedi
nbus
ines
scomi
ngoutofc
oll
egei
nmanyc
ases
g
rav
ita
tet
owar
dfinanc
eandc
ons
ulng,
andasar
esul
tpeopl
etendt
ogr
oup
t
hem t
oget
her
.Theydoha
veal
oti
ncommon:bot
har
eindus
tri
eswher
e
s
mar
t,anal
ycalt
hink
ersdowel
l,bot
hofferana
venuei
ntomanyt
ypesof
bus
ines
srol
es(
inc
ludi
ngbus
ines
ssc
hool
),andbot
hha
vet
hepot
en al
tobe
l
ucr
ave.Butt
hisdoes
n’tmeant
hatt
hey’
ret
hes
ame.

Whyc
ompani
eshi
rec
ons
ult
ant
s?
Cons
ult
ant
sty
pic
all
ychar
geex
orbi
tantf
eest
odos
omer
esear
ch,mak
ea
pr
esent
a onandanac
company
ingr
epor
t,andt
henj
etoutoft
ownnev
ert
o
bes
eenag
ain(
un lt
henex
tpr
ojec
t).Y
eti
neac
heng
agementt
heyma
y
mak
esomet
hingt
othet
uneoft
ensorhundr
edsoft
hous
andsofdol
lar
s.
Wher
eist
hev
alueadded?I
fyou’
reabus
ines
sper
sonwhohi
resac
ons
ulng
t
eam,y
oupr
obabl
ydi
ditf
oroneormor
eoft
hes
ereas
ons
:
–Cons
ult
ant
saddex
per
ienc
efr
om t
hei
rwor
kwi
thot
herr
ela
ted
c
ompani
es
–Cons
ult
ant
saddmor
ebr
ainst
oapr
obl
em,i
ncr
eas
ingt
hec
hanc
esof
findi
ngas
olu on
 Cons
–Cons
ul
ult
t
ingBa
ant
sdot
si
c
her
s
esear
chandanal
ycalwor
ktha
tyoudon’
t
ha
ve meorr
esour
cesf
or
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ult
ant
srepr
esentanout
sidev
iewpoi
nt–s
omeonewhoc
an
l
ooka
tapr
obl
em wi
thoutaper
sonals
tak
eint
hec
ompany’
spol
ics
–Cons
ult
ant
sma
yha
veparc
ularex
pers
etha
tthec
li
entdoes
n’tha
ve

Whatc
ons
ult
ant
sdoal
lday
?
I
fyoudon’
tli
kewor
kingwi
thMi
cros
o Power
Poi
ntorEx
cel
,cons
ulngma
y
notbet
hefiel
dfory
ou.Es
pec
ial
lyi
nanent
ry-
lev
elc
ons
ulngpos
iony
ou
wi
ll
bet
ask
edwi
thmak
ingendl
essPower
Poi
nts
li
des
,conducngi
nter
views
,
doi
ngpr
imar
yands
econdar
ymar
ketr
esear
ch,andwor
kingwi
thy
ourt
eam
t
oa ac
kthepr
obl
em a
thand.I
tty
pic
all
yrang
esf
rom about30%-
90%g
roup
wor
kdependi
ngont
het
ypeofc
ons
ulng(
economi
ccons
ulngt
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obe
l
essg
roup-
ori
ent
ed)andt
ypeofpr
ojec
t(i
fther
ear
elot
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ts,
for
ex
ampl
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oumi
ghtbet
ask
edwi
thdoi
ngal
loft
heanal
ysi
sforonepar
ton
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ourownbef
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ult
sandc
omet
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con-
c
lus
ion)
.

Whyy
ouwantt
obeac
ons
ult
ant
?
Thi
siss
omet
hingy
ou’
llha
vet
oans
werf
ory
our
sel
f,butdot
aket
he met
o
t
hinkabouti
t.I
t’
snotafiel
dtha
t’sr
ightf
orev
ery
one,andt
her
ear
ejus
tas
manydr
awbac
kst
oent
eri
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hefiel
dast
her
ear
eadv
ant
ages
.Ify
ouwantt
o
l
ear
nmor
eaboutc
ons
ulngorot
herec
onomi
cst
opi
cs,
thoug
h,ag
oodpl
ace
t
ost
arti
sjoi
ningoure-
li
stt
ofindoutaboutev
ent
sandj
ob/
int
erns
hipop-
por
tunies
.
Cons
Cons
ulngs
ult
ingBa
oundsl
ik
si
c
eadr
s
eam j
obt
oal
otofpeopl
e,andf
ormanyi
tis
.If
y
ou’
ret
hink
ingaboutl
ook
ingf
orj
obsori
nter
nshi
psi
ncons
ulng,t
houg
h,
ev
ery
onewi
llex
pec
tyout
oknow t
hebas
icsoft
hei
ndus
try
.Her
ear
esi
x
t
hing
sev
ery
onei
nter
est
edi
ncons
ulngneedst
ounder
stand.

Ther
ear
etwot
ypesofc
ons
ult
ant
s
I
fyout
ellanyadul
ttha
tyouc
oul
dbei
nter
est
edi
ncons
ulng,t
her
e’sone
c
ommentt
haty
ou’
llhearmor
ethananyot
her
:“I
tfeel
sli
keev
ery
one’
sa
c
ons
ult
antt
hes
eda
ys!
”Thi
sst
atementi
mpl
iest
hatpeopl
eing
ener
aldon’
t
under
standabas
icdi
snconi
ncons
ulng
.Thi
sist
hedi
ffer
enc
ebet
ween
i
ndus
tryc
ons
ult
ant
sandc
areerc
ons
ult
ant
s.I
ndus
tryc
ons
ult
ant
sty
pic
all
y
ha
ve10+y
ear
sofex
per
ienc
einag
iveni
ndus
try
,andhel
pcompani
esmak
e
dec
isi
onsbas
edont
hei
rex
per
ienc
einandk
nowl
edg
eoft
hei
ndus
try
.For
e
xampl
e,s
omeonewhohaswor
kedmanag
ingUPS
’ss
uppl
ychai
nmanag
e-
mentdi
vi
si
onf
ordec
adesma
ydec
idet
otr
ybei
nghi
sownbos
s,ands
tar
ta
c
ons
ulngpr
acc
ehel
pingot
herc
ompani
esi
mpr
ovet
hei
rsuppl
ychai
n
pr
acc
es.Car
eerc
ons
ult
ant
s,ont
heot
herhand,ar
ethos
ewhos
pendt
hei
r
c
areerdev
elopi
ngt
het
ypesofs
kil
lst
hatc
ons
ult
ant
sus
e,i
ncl
udi
ngr
esear
ch,
pr
esent
a on,andanal
ycal
ski
ll
s.Theyaddv
aluebas
edont
her
esear
ch/
an-
al
ycst
heyper
for
m,i
naddiont
othei
rabi
li
tyt
oaddi
nsi
ghtt
oaparc
ular
pr
obl
em.

Ther
ear
ethr
ee(
mai
n)t
ypesofc
ons
ulng
E
vena erdi
ffer
en a ngt
hec
areerc
ons
ult
antf
rom t
hei
ndus
tryc
ons
ult
ant
,
t
her
eisanot
herex
tremel
yimpor
tantdi
vi
si
onbet
weent
hreet
ypesofc
on-
s
ulng
:manag
ement
/st
rat
egyc
ons
ulng,ec
onomi
c
c
ons
ulng,andI
Tcons
ulng
.
I
T/Anal
yti
csBackgr
ound