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Consultant is a professional who provides expert advice services in the areas of expertise, such as accounting, environment, biology, law, and others. The difference between an expert consultant with 'normal' is the consultant is not an employee in the company's clients, but a person who runs his own business or work at a consulting firm, as well as dealing with different clients at one time.

Consultant, financial consultant in this case (financial consultants), is one profession that is booming in the era of a growing economy like today. Consulting profession is quite popular among MBA and graduate (fresh graduated) because one or some thing. For example: salary and remuneration package is good, the opportunity to travel around the world, and pride / prestige of the profession itself. So do not be surprised if the labels are also often misused or used to trap a graduate / MBA seeking a job.

One of the distinctive character of this profession is the competitiveness that is so tight and intense. If you get an MBA from Stanford or Harvard, have decades of experience working with networks and relationships that are so vast, yet of course you can so consultants. Position for this position is also very limited in number.

However, when you've got the job, you will have a very broad opportunity to mingle with the top managers of companies mulitnasional. You'll get a chance to travel from one end of the world to the other end of the world. Even more fun again, you will "work" with current business issues such as high-level strategy, integration, alliances, and so on.

Meaning of Consultants Consulting services, in business terms, is giving advice to clients in exchange for a certain fee. Their clients are companies that need advice and skill possessed by consultants for problems they are facing. The client company usually requires expertise and outsider perspective that is owned by the consultant.

Some consulting firms have particular specialties. Some are concentrating on the field of marketing or information technology. Some are focusing only on the banking and financial services industries. Some consultants targeting at the helm of government alone. Some consultants have only two staff only. But some others may have hundreds of employees spread across the globe.

However, one thing is certain, the consultant is a problem-solver. The only product to offer is the ability to the make problems go away.

History and Development Consulting Services According to the literature, is the first consultant Arthur D. Little who founded his business in 1886 in Cambridge, Massachusetts. He provides technical assistance (engineering) to his client. The company is now bankrupt. Booz Allen Hamilton and then founded the company with a similar structure in the early 20th century.

Then in 1926, a professor from the University of Chicago, James McKinsey, founded the company "accounting and engineering advisors" who introduces a different approach and framework. He did not recruit traditional engineers, but a seasoned executive who in-training with a set of analysis and contemporary knowledge of the period, including strategies, policies, goals, organization, procedures, facilities, and personnel.

History records a pretty spectacular innovation conducted by Boston Consulting Group (BCG). Using a different approach, BCG developed the concept of shared growth matrix as a means to assess the attractiveness of a firm in an industry. Framework was later widely adopted by other consultants in understanding business issues and opportunities that can be utilized.

Since then, the consulting firm progress and grow by leaps and bounds. Some merger and consolidation. Some others do the rebranding and changing the organizational structure. Similarly, approaches, methodologies, and frameworks used and developed also increasingly complex and comprehensive.

Misconceptions About Income Consultants. In a sense, the salary of a consultant is very large, especially in developed countries to carry the flag leading consulting firm. However, the salary of that size is not easy money. We are required to workaholic. In some cases, we must work to 20 hours per day and are forced to travel as well as children separated from his wife.

Glamorous. Despite its prestige and the prestige that is high enough, the consultant is not always exciting and high profile. We're not always going to meet and discuss with the CEO of a company. We also do not always live in big cities of the world and stay at four-star hotel. There are times when we have to jump in the interior of Borneo since the company has a palm oil processing plant there. There are times when we have to hang out for hours in a factory full of smoke and dirty. Sometimes we even just interact with lower level employees, not by the director / manager of the peak.

Implementation. Consultants may be described as an analyst who gives advice and then paid. Done. Unfortunately, in many cases, trouble shoot client is a fraction of the work to be completed. It is not just about knowing what's wrong. It's about figuring out how to make it right. Consultants must ensure that a given feasible solution to implement. And really, this is not a trivial job.

Prestige. It is undeniable that the consulting profession is the desire, particularly among the MBA. Unfortunately, the consultants worked mostly behind the scenes. The name of a consultant are very rarely published in newspapers or leading business magazine. When the company successfully implemented, the consultant also will not be mentioned. Ordinary people in general will also never "hear" your company name.

A: You work where? B: McKinsey. A: A kind of fast-food restaurant kah? B: No, it was McDonald's. This is McKinsey. A: Companies apa tuh?

What does the Consultant? Each consultant has a philosophy and framework are different from each other. Whether it's an individual consultant or consultants who are members of the consulting services company. However, in general, the consultants do work such as pitching, research, analysis, and report writing. The cycle runs continuously and repeatedly.

Pitching

The point is to sell and offer services. These activities can include preparing documents and researching prospective clients, write proposals, or make a presentation (sales pitch) to prospective clients. More details about pitching.

Research

Running secondary research to clients and industry associated with using internal resources and external sources. Doing interviews about the clients' needs and gain an understanding of business processes. Facilitate group discussion about issues facing the company's business clients.

Analysis

Making use of modeling in Excel or other financial modeling. Perform analysis of the data have been obtained and the model that had been developed. Help prepare the necessary recommendations.

Reporting

Preparing the final presentation (called "decks") in a PowerPoint slide. Helping clients and demonstrate the findings and recommendations have been made.


Implementation

Serving as project manager that ensures proper course of implementation in each phase. Executed in system integration and system testing are recommended (for IT consulting firm). Perform documentation and finalization of the project completed.

Administration

Working in the company's internal research team when not being involved in the project. Fill out the form for time tracking and expense reports. Writing a publication or results in a book / journal.

Among these phases, the phase of analysis is the most interesting and least time consuming. Early stages usually require consultants to meet clients or attend meetings intensively. Along with the increasingly tight competition, consultants are also increasingly spend their time and resources to conduct marketing activities.

It's not easy to sell your expensive services to companies WHO do not think they need your help. To the make matter worse, your pay and job security Will depend on your ability to Make Those sales.

The core characters Consultant Work well in teams. It is common knowledge that the consultant work is not alone. Brainstorming process also clearly involves our peer. We even have to work together with the internal staff of client companies. Clearly, the profession is not intended for those who like to work alone in a closed environment.

Multi-tasking. Proverbial operating system (Windows, Mac, Linux, UNIX, BSD), consultants are required to complete a variety of assignments simultaneously. Therefore necessary organizational skills and good sense in setting priorities. On the one hand we are preoccupied with solid activity, but on the other hand we are also required to keep the balance with our personal lives.

Comfortable with Quant / math. Consultants should be able to think creatively "outside the box" on the one hand, but also must speak by the data on the other side. Therefore, knowledge of mathematics and quantitative calculations are absolutely necessary. Consultants should also be familiar with software applications such as spreadsheets or statistics.

Love school. Consultants, generally, have good grades in school. Consultants should also have a love of knowledge and recent research. A consultant should be willing to diligently read books, journals, attending seminars / workshops, and follow the latest developments. This will complement the consultant ammunition in dealing with clients who increasingly complex and evolving.

Friendship. You do not have 100% extrovert. However, the ability to get along, either with fellow peers and with clients, is mandatory. Communication, presentation skills, the ability of expression, and influence others is a skill set that is absolutely necessary.

Workaholic. Consultants generally work up to 80 hours per week when faced with a project. Consulting services is a tough job that requires brains and stamina. Clearly needed commitment, sincerity, and courage to say no to laziness.

Willing to travel. Consultants usually travel often out of town or abroad. Therefore, the ability and knowledge of the language / culture / geography of the local area multak required. Consultants are required to clearly versed in the affairs of packing, not in flight phobia / long trips, and "courage" to far from the kids / wife / family.

Who User Services Consultant? In the era of business competition is very tight, companies are required to remain competitive. Therefore, ordinary hire consultants to provide a second opinion and outsider perspective. The company is also aware that they are not perfect in everything. When they realize that they are weak in sales, then they also decided to use the services of marketing consultants.

In some cases, consultants can be hired for (sorry) for political reasons. For example the government wants to build a nuclear plant in an area. To gain support, approval of disbursements, and muffled cries of NGOs, consultants can be recruited and utilized his services. Not infrequently, without the involvement of consultants, the letter will not be signed and funds can not be cashed. So kentalnya political affairs, in America there is a very famous byword, "no one ever got fired for hiring McKinsey".

Not only the government, the company also used to exploit this political interests. For example the company wants to do layoffs, they then ask for a referral consultant. When done layoffs, they are "on behalf of" the recommendations of the consultant as a scapegoat.

However, it should be noted that not always a given recommendation will actually fully implemented. In addition to elements of political, bureaucratic inertia also plays a major role in this regard.

Types of Consultant When you want to join a consulting firm or intend to use the services of a consultant, a little knowledge of the consultant concerned is necessary. Consultants are increasingly specialized in the field / specific issues.

Related to the methodology in completing the project, each consultant has a different approach. McKinsey and Booz Allen Hamilton, for example, associates and analysts collect their mob. In contrast, BCG tend to give up to 5 assignments for each staff. This will affect the work process and payroll / billing them.

Consulting services company can be divided into several categories below. A company / consultant may blend from one category to another category. In some cases, the client company could not hire a consultant for strategy formulation, and to hire other consultants for the implementation phase.

Strategy Consulting

The key word is to help senior executives to understand and face the strategic challenges of their company. Typically, these consultants work with senior management in formulating strategy and long-term plans. Some only provide recommendations and make presentations, however, others are also required to stick around during the implementation process.

Some of the major consultants that focus on this area include: Bain & Company, Boston Consulting Group (BCG) and McKinsey & Company.

Operations Consulting

If your company wants to determine how your restaurant to make savings of herbs and raw materials without changing the menu, or the company you want to update the process of purchasing and supply chain from the manufacturer, then you need surgery consultant. This consultant has a typical Generally assists in assuring the implementation of Their suggestions. Consultant focuses on the client's internal processes such as distribution, production, order fulfillment, or customer service.

Examples of this type of consulting include: Accenture, Cap Gemini Ernst & Young and Deloitte Consulting.

Human Resources (HR) Consulting

Is a consultant who focuses on efforts to maximize value by placing the company's HR the right people with the right skills in the right roles. This is realized considering the company is now investing heavily in human capital and expect a lot from these investments.

The involvement of these consultants can be started in the recruitment process, conduct training and development, counseling services memberkan, collating's benefits and compensation package sttructure, build a culture and communication within the company, and so on. Some examples of this field consultants like Hewitt Associates, Towers Perrin, Watson Wyatt Worldwide, and Mercer HR Consulting.


Information Technology (IT) Consulting

American Management Systems, Accenture, Cambridge Technology Partners, Computer Sciences Corporation and Electronic Data Systems (EDS) is an example of leading IT consulting firms. They deal with business issues with a strong technical issues of systems / information technology. They are responsible for starting the process of analysis, design, until impelementasi system, to ensure these solutions align with their business processes.

Examples of project task is handled by IT consulting firms such as testing the vulnerability of a bank's internet banking system, installation and troubleshooting of ERP modules, handle customer database conversion to Oracle-based servers, and so on.

E-Consulting

A consultant who is concerned with issues related to e-business and e-commerce on a broad scale. E-business is usually to refer to the activities of businesses that run online, while e-commerce generally is an activity that involves the transfer of monetary units through electronic media / internet.

Some consultants this field include Digitas, Razorfish and Sapient. They have specialties ranging from front-end design (programming, graphic design) to valuation, branding, marketing, B2B services, and so on.

Boutique Consulting Firms

Generally focus on their subject is dealt with, although not always small in size or number of employees. These consultants usually only focus on certain industries, certain business functions, or use a particular methodology. Jobs are handled is very specific, eg assisting the Ministry of SOEs to develop the structure of privatization and open tendering, to turnaround a telecommunications company experiencing financial difficulties and in danger of bankruptcy, or process reengineering in an automotive company in making the implementation of standards for its suppliers.

Some EXAMPLE consultants such as Charles River Associates (focus on economic and litigation services), LEK Consulting (handle business strategy, mergers and acquisitions), or Marakon Associates (focus on shareholder value methodology).

Internal Consulting Firms

Instead of paying consultants billing rate outsider with expensive, some companies choose to open an internal consulting unit. They are usually called "internal consulting" or, in some cases, "corporate strategy" or "strategic planning". For example a major oil and gas companies want to hire partner to handle distribution and marketing of downstream units in the long run, then internallah consultant who handles such issues.

In contrast to other consultants, internal consultants are paid based on salary (fixed) and generally do not require a trip out of town / overseas intense. Amex has a division that they call the American Express Strategic Planning Group. Johnson & Johnson had a division of Decision Sciences Group. JP Morgan Chase JP Morgan Chase called the Internal Consulting Services. Cargill called Cargill's Strategy and Business Development.

Thus the cover of this brief article. Hope can make for your benefit. Whether it's for job seekers interested in the field of consultancy, as a business entity users of financial consulting services, government, or ordinary people who happen to have a relationship with consulting services.

Do not be, for example, when you apply for a job, turned out to be fooled by fake consulting firm. Or, when the company you want to use the services of consultants, are stuck with such a high fee while the service offered is not commensurate.