What do consultants do?
Hi I just got an internship at McKinsey, and they kind of just pushed me through the interview process because my dad made a call to one of his buddies and they figured something out for me. I am not entirely sure what a consultant is, even though I go to Wharton. Can someone please explain?
I'm like ~50-70% sure this is a troll post because McKinsey has the least biased interview process and even a lenient one would involve two cases and partner chat, but I'll type out something.
Consultants, at a high level, perform an analysis of the status quo, an investigation of the target state, a gap analysis of what the firm would need to move from point A to B and then recommendations/crafting a road map of how to get it done. Consider the classic example of PepsiCo launching a new soda in Europe. The Status Quo would be their current product launch strategy, this would include where they plan to sell the soda (distribution channels), the price point in which they plan to sell it, the consumers they plan to sell to, how they plan to market the soda, their projected revenues and costs for the first quarters (or years) of sales, and so on. The Target State would be McKinsey analyzing macroeconomic data of the GDP growth, the soda industry growth rate, other competing sodas, and consumer spending factors to determine what a reasonable revenue targets would look like. They would perform an analysis of distribution channels that are currently utilized or under-utilized and determine an efficient utilization approach (i.e. if whole sales make up the majority soda sales, then cut back of merchandise shelf space). After identifying the target state for the product launch, they would prepare a comprehensive slide deck and Financial Model that captures their research, assumptions, and strategic roadmap comparing their recommendation to the status quo. As a BA, you would help in some shape or form; maybe take an inventory of the current distribution channels, synthesize meeting minutes from employee interviews, prepare portions of the slide deck as the work is completed, or perform secondary research into macro trends that are fed into the Financial Model.
Consultants generally tend to consult with employees about different issues. Hope this helped!
Ut voluptate commodi ut nobis. Consequatur veritatis asperiores dolorem nihil nam sapiente. Sunt et facilis repellendus exercitationem consequatur a. Similique et qui accusantium et non commodi qui quaerat. Molestias fuga in ut voluptatem quas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...