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Consulting is a term thats tossed around in boardrooms, business school campuses, and everyday conversation. In this article, we take a deep dive into the world of consulting, explain the core functions and methodologies used by consultants, and describe the day-to-day tasks that define the profession.
It was developed in the 1960s by Boston Consulting Group (BCG), one of the biggest consulting companies in the world at the time. Literature there was, including a 1964 Harvard Business Review article, “Profit from the Learning Curve,” by a professor of chemical engineering, Winfred Hirschmann.
Instead of answering standard multiple-choice questions or writing essays, you’re immersed in a series of interactive mini-games designed to evaluate your problem-solving skills, logical reasoning, and decision-making abilities. That’s a bit of the trend I described in the “ getting the so what ” article.
Bard can be used to quickly and efficiently gather information from a variety of sources, including news articles, research papers, and social media. Do you have a toolkit for businessproblemsolving? Generating ideas.
As the scale and ambition of these firms increased, they needed more people to do the work and needed to develop internal pipelines of future partners. In addition to client work, consultants are pressured to develop a “spike” or topic expertise where they can become a go-to person for many clients in the future.
And on two levels: Problem-solving process: how you solveproblems Meta-process: how you talk about how you do #1 The best consulting firms are obsessed with both of these things. In many companies, the time spent on developingproblem-solving skills and fundamentals is surprisingly small.
After having a couple more jobs which I continued to learn, develop confidence in my skills and gain more clarity over the type of work I wanted to do, I decided it was time to make the leap. During this transition, many people develop a completely different mindset and perspective on work, income, money and how they live life.
After spending over a decade in strategy consulting and advising hundreds of business leaders, I’ve noticed that traditional “intelligence” or subject matter expertise isn’t what sets great problem solvers apart. In other articles, I’ve covered problem-solving approaches and processes.
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