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MQM 326

MQM 326. Chapters 1 & 2. Chapter 1; The Industry of Consulting. What is driving the consulting business? Technological Forces Economic Forces Social Forces Political Forces. Key Segments. Consulting Generalists Pursue no other businesses Consulting Divisions

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MQM 326

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  1. MQM 326 Chapters 1 & 2

  2. Chapter 1; The Industry of Consulting • What is driving the consulting business? • Technological Forces • Economic Forces • Social Forces • Political Forces

  3. Key Segments • Consulting Generalists • Pursue no other businesses • Consulting Divisions • Companies diversified into consulting i.e. accounting firms • Specialty Firms • Target a specific type of client

  4. Internal vs. External Consulting • In-house people • However, these folks may be encouraged to market their service both internally and externally • This allows them to behave more like internal profit centers

  5. Recent Developments • Growth through acquisition • IPO’s • Increasing accountability • Brain Drain to the E-sector (and back)

  6. Ch. 2; The Anatomy of a Consulting Firm • Leverage structure • Finders • Senior level • Bring in business • Scoping and designing project • Minders • Manage project and people teams • Grinders • Perform the analytical tasks

  7. Leverage Structure • Highly customized to the firm and the type of business that the firm has.

  8. The Client Marketplace • The Pharmacist • Standardized process • Not a lot of client counseling • Performed largely by grinders • The Nurse • Familiar or “mature” services • Lots of client counseling • Requires interpersonal and consultation skills

  9. The Client Marketplace • The Brain Surgeon • High levels of customization, creativity, and innovation • Not a lot of client consultation • The Psychotherapist • Again creative diagnosis and execution • This time constant client consultation

  10. Advice From The Book • Focus • For the client, know your problem and which it requires • For the consultant, do not be tempted into taking on a task for which you are not well suited.

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