🎯 Key points for quick navigation: 00:00:18 *📚 Consulting Outline: The video will cover the general concept of consulting, differentiate management and strategy consulting, and discuss their specific focus areas.* 00:00:45 *💡 Consulting Basics: Consulting is described as problem-solving as a service for clients, encompassing various niches like health, finance, and social media.* 00:01:26 *🏢 Management Target: Management consulting targets all management levels-top (c-suite), middle, and lower management, solving diverse management-related problems.* 00:03:02 *🤝 Big Players: Typical management consulting firms include big names like KPMG, PwC, Ernst & Young, and Deloitte, focusing on management issues at various levels.* 00:03:31 *🎯 Strategy Focus: Strategy consulting is a subcategory of management consulting, primarily targeting the c-suite and addressing revenue, cost, and organizational change.* 00:05:11 *🌍 Top Firms: Leading strategy consulting firms include McKinsey, BCG, and Bain, known for their market dominance and emphasis on strategic projects.* 00:05:49 *🔄 Market Overlap: Although distinct, strategy and management consulting firms increasingly overlap, with strategy firms expanding into broader management consulting areas.* 00:06:32 *🏆 Strategy Prestige: Strategy consulting is viewed as more prestigious, with higher entry barriers, salaries, and workload compared to management consulting.* 00:07:56 *⚖️ Decision Point: Prospective consultants must decide between strategy and management consulting based on personal preference for prestige, salary, and work-life balance.*
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Finally I've got a structure of Strategy & Management Consulting by simple words! Thank you indeed!
Glad that this was helpful 🙌👍
🎯 Key points for quick navigation:
00:00:18 *📚 Consulting Outline: The video will cover the general concept of consulting, differentiate management and strategy consulting, and discuss their specific focus areas.*
00:00:45 *💡 Consulting Basics: Consulting is described as problem-solving as a service for clients, encompassing various niches like health, finance, and social media.*
00:01:26 *🏢 Management Target: Management consulting targets all management levels-top (c-suite), middle, and lower management, solving diverse management-related problems.*
00:03:02 *🤝 Big Players: Typical management consulting firms include big names like KPMG, PwC, Ernst & Young, and Deloitte, focusing on management issues at various levels.*
00:03:31 *🎯 Strategy Focus: Strategy consulting is a subcategory of management consulting, primarily targeting the c-suite and addressing revenue, cost, and organizational change.*
00:05:11 *🌍 Top Firms: Leading strategy consulting firms include McKinsey, BCG, and Bain, known for their market dominance and emphasis on strategic projects.*
00:05:49 *🔄 Market Overlap: Although distinct, strategy and management consulting firms increasingly overlap, with strategy firms expanding into broader management consulting areas.*
00:06:32 *🏆 Strategy Prestige: Strategy consulting is viewed as more prestigious, with higher entry barriers, salaries, and workload compared to management consulting.*
00:07:56 *⚖️ Decision Point: Prospective consultants must decide between strategy and management consulting based on personal preference for prestige, salary, and work-life balance.*
Excellent way of breaking things down in a way that everyone can understand
Any take on how to get into Consulting firm as a fresher
Thanks for the breakdown !
You are very welcome, glad you like it!
Thank you for guidance
Similarity: They both make me cry
😂😂😂