Management Analysts and Consultants
Exploring this Job
The reference departments of most libraries include business areas that will have valuable research tools such as encyclopedias of business consultants and "who's who" of business consultants. These books should list management analysis and consulting firms across the country, describing their annual sales and area of specialization, like industrial, high tech, small business, and retail. After doing some research, you can contact these firms and ask for more information.
For more general business exploration, see if your school has a business or young leaders club. If there is nothing of the sort, you may want to explore Junior Achievement, a nationwide association that connects young business-minded students with professionals in the field for mentoring and career advice. Visit https://www.juniorachievement.org for more information. Also consider joining Business Professionals of America, a membership organization for middle school, high school, and college students who plan to or who are currently pursuing careers in business management, office administration, Information Technology, and other related fields. Visit https://bpa.org for more information.
A business teacher can arrange for you to have an information interview with a management consultant. During the interview, ask the consultant questions that will help you learn more about the profession, the responsibilities of the job, and the continuing education required for a long-term career.
Management analysts and consultants are called in to solve any of a multitude of organizational problems. This is a broad area of consulting, and there are many different types of management consultants. According to the Institute of Management Consultants USA, common management consulting specialties include administration, financial planning and control, human resources management and labor relations, incentive compensation, information technology, manufacturing, organizational planning and development, physical distribution, research and development, sales and marketing, strategic and business planning, and wage and salary administration.
External consultants are employed by consulting firms such as Bain & Company, Mercer, and A.T. Kearney. They work with clients on a project basis, and clients are billed by the hour for consultants’ services. Internal consultants work as salaried employees for companies and other organizations. They provide advice to only their employer regarding topics such as management, staffing, Information Technology, and marketing.
Management analysts and consultants may be called in when a major manufacturer must reorganize its corporate structure when acquiring a new division. For example, they assist when a company relocates to another state by coordinating the move, planning the new facility, and training new workers.
The work of management analysts and consultants is quite flexible—it varies from job to job. In general, management analysts and consultants collect, review, and analyze data, make recommendations, and assist in the implementation of their proposals. Some projects require several consultants to work together, each specializing in a different area. Other jobs require the analysts to work independently.
Public and private organizations use management analysts for a variety of reasons. Some organizations lack the resources necessary to handle a project. Other organizations, before they pursue a particular course of action, will consult an analyst to determine what resources will be required or what problems will be encountered. Some companies seek outside advice on how to resolve organizational problems that have already been identified or to avoid troublesome problems that could arise.
Firms providing consulting practitioners range in size from solo practitioners to large international companies employing hundreds of people. The services are generally provided on a contract basis. A company will choose a consulting firm that specializes in the area that needs assistance, and then the two firms negotiate the conditions of the contract. Contract variables include the proposed cost of the project, staffing requirements, and the deadline.
After getting a contract, the analyst's first job is to define the nature and extent of the project. They analyze statistics, such as annual revenues, employment, or expenditures. They may also interview employees and observe the operations of the organization on a day-to-day basis.
The next step for the analyst is to use their knowledge of management systems to develop solutions. While preparing recommendations, they must take into account the general nature of the business, the relationship of the firm to others in its industry, the firm's internal organization, and the information gained through data collection and analysis.
Once they have decided on a course of action, management analysts and consultants usually write reports of their findings and recommendations and present them to the client. They often make formal oral presentations about their findings as well. Some projects require only reports; others need assistance in implementing the suggestions.