Join more than 19,000 consultants and stay up to date with our top resources for consultants. Join more than 150,000 business and human resource leaders and keep up to date with our top resources. Business knowledge is an understanding of how economic factors affect companies and the sectors they work with. Consultants need this skill to be able to create solutions that take into account economic problems.
Research the company, the sectors in which it specializes, its recent projects and its competitors.
Combine this with keeping up to date with what's happening in the broader economic and political world, as these events will affect consulting clients. You can make use of your business knowledge by participating in consulting firm case study interviews or by answering typical consulting interview questions, such as “What do you know about us?” and “What is the biggest challenge our company (or our customers) will face in the next three years?” Learn more about what business knowledge means in practice and how to acquire it.
Management consultantshelp organizations solve problems, create value, maximize growth and improve business performance.
They use their business skills to provide objective advice and experience, and help an organization develop any specialized skills it may lack. Consulting firms range from those that offer comprehensive solutions to smaller or more specialized firms that offer specialized experience and skills in certain areas of the industry. Employers often value experience and skills as much as qualifications, so it's helpful to gain relevant work experience before entering the profession. In addition to part-time or volunteer work, this could include extracurricular activities such as club membership, team sports, or social work involving team-building skills, business or financial knowledge, and organizational skills.
Professional qualifications can be carried out while working and the CMI offers the relevant awards. This includes the level 7 qualification in Professional Consulting, which is available in three levels: award, certificate and diploma. It is aimed at those who want to develop strategic skills within consulting. The MCA offers courses, workshops, and seminars for consultants at all levels, from writing a business proposal for junior consultants to high-level presentation skills for partners.
Learn more at MCA - Career Development. According to Socrates, wisdom was the admission that you are not wise. From the outside, you might think that the default position in consulting is for young consultants to pretend to know everything. The best way to improve your problem-solving skills as a consultant is to solve your client's problems through project work, reading and studying deeply to understand different situations, cause and effect, and gain new perspectives.
The skills you develop in consulting, such as strategy, research and communication, are transferable should you decide to change careers in the future. It's a sought-after career, and they have a lot of options, so they narrow their options by looking for students who already have the skills that successful consultants have. However, if you switch to a different position or industry, you may have to lead a team in which members have average ambitions and a lower skill set. That means that many of the people who apply for consulting positions along with you will also have these skills, so take the time to think of a good example to include in your application and discuss at the interview.
I teach a consulting skills course in which students have to synthesize information from a simulated company in the form of citations, interviews and survey data. Your analytical skills will most likely be assessed through a case study, an interview, or a situational judgment test, in which you will have to make decisions based on the information given to you, and the best way to approach these two hiring exercises is to practice them. Graduate recruiters are looking for some specific skills when hiring for management consultant positions. The best way to demonstrate your objectivity (26%) and your independence skills is to be a source of truth for your client.
In this post, you'll learn about the 6 essential consulting skills that will make you a better and more in-demand consultant. With a high level of skill and experience in your field, your ability to solve your clients' problems is a big part of the reason they hire you. As with many of the requirements for a consulting job, you've likely developed problem-solving skills throughout your studies and by participating in extracurricular activities. However, there are some skills that management consulting doesn't teach you, such as how to manage unmotivated people.