“In the knowledge society the most
probable assumption and certainly the assumption on which all organizations
have to conduct their affairs is that they need the knowledge worker far more
than the knowledge worker needs them.” - Peter F. Drucker
Students can choose lots of careers to
grow professionally. Unfortunately, they are not aware of some careers that are
highly lucrative with exciting opportunities. Most of them opt for conventional
careers to play safe and grow conventionally. However, there are a few students
who opt for unconventional careers and achieve amazing career success in their
lives. It all depends on the awareness of various careers and right guidance at
the right time. Most of them don’t receive right guidance from others. Here is
a career that offers you lots of exciting opportunities for your growth and
success - management consultancy. It gives you an immense job satisfaction
apart from giving you lots of money, status and an exciting life.
Management consultancy is a collection
of knowledge workers who offer advisory services to resolve organizational
challenges. They provide solutions to problems. The consultants who work in
such companies are the highest paid people in the world. They have to do
research about the companies to provide solutions to their clients. It is a
highly challenging job where lots of your energy, efforts and time is required.
Above all, it requires your passion to find solutions to problems. We all find
solutions to several problems in our lives. Similarly, we must find solutions
to the problems faced by companies. Most companies think conventionally and
don’t think unconventionally to find solutions to their problems. Hence, they
approach the management consultancy firms to resolve their problems. It is the management
consultants who think unconventionally with a focus and create solutions to
corporate problems to achieve organizational excellence and effectiveness.
Competencies
to Become a Consultant
Management consultancy is a
knowledge-intensive service business which looks for right talent to serve its
clients. Management consultancy companies search for candidates with several
qualities such as intellectual abilities, inter-personal interaction qualities,
personality, ambition and energy, education and experience. Consultants must be
analytical and original thinkers. They must be good at critical thinking and
problem solving skills. They must be ambitious, committed and dedicated to
their profession. They must be able to manage volatility, uncertainty,
complexity and ambiguity. They must have basic knowledge and skills with
respect to the main business disciplines such as accounting, HRM, organization,
IT, marketing, logistics, finance, and strategy. They must be ready to travel
globally. Companies prefer fresh candidates to mould them as per their
requirements.
Exciting
Career Opportunities
Management Consultancy offers a steep
learning curve which the Gen Y is currently craving for. It is like earning and
learning. You work with big clients and associate with them. It changes your
thinking and lifestyle. Your status will improve amazingly. It provides you a
solid platform to grow in all aspects. Above all, it offers you an exciting
culture of ‘work hard – play hard’ which no other career offers. It is
nicknamed as the ‘graduate graduate school of business’.
‘Up-or-out’
Policy – A Unique One
Most management consultancy companies
adopt ‘up-or-out’ policy. ‘Up’ refers to promotion of an individual to a higher
level in the consultancy firm’s hierarchy. An ‘out’ decision means that the
individual must leave the consultancy firm. The firm offers only two options.
Either you move up the firm’s hierarchy – within a predetermined period – or
you have to go. They believe in the policy of meritocracy rather the so-called
seniority. It is obvious that only the fittest will survive and the rest will
be out and it is good for firms and individuals. For firms, it is improving the
organizational bottom lines; and for employees, it is looking for other areas
where they are most suitable. Some firms provide outplacement for their
employees who are sent out to convert them as allies rather than as
adversaries. Hence, up-or-out system is
very good for both employers and employees.
Both ambition and fear will drive the employees to give their best to
their employers. The up-or-out system is a carrot-and-stick model. You either
get a carrot (promotion) or you get the stick (exit the firm). Therefore, this policy is good to weed out
the unsuitable employees and retain the committed and dedicated performers to
grow as partners at the senior level.
Become
a Consultant, not a Contractor
After working as a consultant in the
management consultancy company, your experience will help you become an
independent consultant with lots of freedom and money. If you are highly ambitious with a risk
appetite, you can also excel as an entrepreneur. Hence, become a consultant
rather than a contractor. To summarize, there are lots of opportunities in the
world which many people fail to identify and exploit. Have an open mind to look
for such opportunities and explore them. Pursue them with your passion to
fast-track your career to lead a luxurious life.
“My greatest strength as a consultant
is to be ignorant and ask a few questions.” - Peter Drucker
References
An Introduction to Management
Consultancy Marc G.
Baaij (SAGE Publications Ltd; 2013)
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