Consulting Overview

1. Consulting Overview Fuqua2Duke • More than 250,000 consultants in the U.S. • Healthy, vibrant industry • One of best paid professions • Ever-evolving with new economy • Consulting is the business of providing advice to organizations in trouble, on the move, or trying to do what they do better, faster, and more cost effectively • Primarily a client service business, but with internal or external “clients” • Fast-growing and changing industry • Complicated to define because the term consulting is broad and has different meanings to different people Functions • Strategy Formulation (markets, products, channels) • Systems Implementation (SAP, Siebel, Internet) • Change Management (organizational design, HR policy) • Operations (supply chain, warehousing, distribution) • Marketing (research, strategy) • Coaching (leadership, one-on-one) • Merger & Acquisition (valuation, negotiation) Questions? Contact Chris Vadnais at ctv@duke.edu or Rachel Luther at rgl@duke.edu Primary Differentiators • Lifestyle • Industry or function • Generalist or specialist • Service integration • Culture, people and business philosophy • Geographic Locations • Firm age and reputation • Secondary Differentiators • Staffing methods • Exposure to senior executives • Team orientation • Typical clients • Career path opportunities • Training/continuing Education • Engagement length Career Characteristics • High level of intellectual stimulation and challenge • Highly motivated people • Recession proof industry • Travel and long hours • Advisory capacity from an outside perspective • Very little implementation and responsibility for the results