Mgmt consulting and MBA
Someone in the businessweek bschool forums had asked why mgmt consultants prefer MBAs. What started off as a small reply went on and on and on... Thought at the end, it made interesting read... here it goes...
"Before I give you my take on the issue, I must say that a better answer would probably come from someone who works in the management consulting industry or at least is gunning for a career there. I have spoken to a few friends who work in the industry and this is my take on it.
While a GAP analysis is something that everyone must do for oneself, what I do know is that, in a management consulting role, one needs all round knowledge of how a company is run and how business works, everything from the basics of financial accounting and corporate finance to economics to organizational and behavioral dynamics of a company. If you are an accountant with a degree in economics, the way you will look at a problem will be different from an engineer with marketing experience. Education in a b-school shows you the various facets of running companies. It helps you take an all round view of the problem. If tomorrow, you visit a client as a management consultant, you are not going to tackle a problem that is as specific as what you get in IT consulting (I was one before I came to ISB). Many times, it will require some out of the box thinking just to know what the problem is. When the requirement of a management consulting job is said to be "problem solving or analytical skills", what is meant is, how are you able to take into account, everything from the financial status of the company, the organizational dynamics of the company, the employee sentiment, the cultural aspects of the country you are in, the marketing strategy that has been followed to date, the operational aspects, legal issues, the nature of the top management and their style of decision making and so on. Handling clients, solving problem agreed are too generic, something many of us IT consultants have done in the past, but the nature of problems you will face as a management consultant requires all round knowledge of ALL aspects of running business. You will find yourself under situations where, one day you work for a manufacturing firm having problems with productivity in their plants and another day, you will be in an insurance company helping them develop new products or target new market segments. Of course firms like McKinsey have internal knowledge bases that will help you but most of the time, you will be on your own, expected to represent your company is the most impeccable and impressive way possible, justifying your $400/hour billing.
Coming to where MBA has a part to play in all this, the very fact that many of us have had very specialized education like accounting, medicine, law, engineering and that background means that we look at problems in a very different way from each other. I have personally seen engineers smile at anything remotely quantitative and arts graduates revel in anything that is qualitative. We have been moulded to a large extent by the way we have been taught to look at issues.
Taking ISB as an example, you are put in a group with diverse students for 4 terms (6 months). For example, my group has an entrepreneur with a degree in hotel management, one from the merchant navy with interests in the stock markets, an industrial engineer with interests in finance, a young commerce graduate, an economics graduate running his family business and myself a computer science engineer. We have varied years of experience. We have very different backgrounds. Now, every time we have had a case discussion, (a case being a real life business problem), we have had amazingly different view points. We have fought pitched battles, at 1-2AM in the morning, disagreeing on every point possible. At the end of the day, every discussion has changed the way I look at problems.
The whole idea of diversity in b-schools is to break that pattern of problem solving that has been etched inside you by your education. No problem has a set piece solution. It is important, especially for a management consultant to look at every problem in its entirety before he attempts to draft a solution that will be unique and best. There has to be an engineer, an IT consultant, an accountant, a corporate finance expert, a marketing professional and a HR manager inside you. You will be expected to debate inside you the various aspects of every recommendation of yours.
As we at ISB have gone through these core terms, we have been exposed to one aspect after another, starting with marketing, then finance, then operations and then organizational and behavioral issues. As we have discussed case after case, we have seen the way we have looked at problems change. Now, if you give me a case, I will unconsciously look at every aspect of it before I recommend a solution.
A bschool is also a place for you to learn to work with diverse people. In a way, the smart ones learn handling people as well. If you thought you are good at handling people, probably you are, but I will still suggest trying your hand at a b-school with the diversity of students you will meet. Until now, like birds have flocked together for many who come in here. In a b-school, you learn to network, accept viewpoints, argue, negotiate and accept mistakes. It’s a humbling experience in a way. The network that you will create here will go a long way in helping you in your career. Not only that, the networking skills you will learn here will probably be most crucial as you move into a management consulting role. The courses you undergo and the textbook knowledge are no doubt important, but that’s only one aspect.
Management consulting firms prefer the top graduates from top business schools because, if you are among that crowd, not only have you mastered your courses at bschool, you have also managed to work your way with teams or different people, managed your clients at the internship (or ELP at ISB) and got the work you wanted, out of people you worked with. Not all students of a bschool manage that.
I do not know if there is any place else in the world that can give you a similar experience, but I am certain that a good MBA does shape a person's all round abilities. All the mgmt consulting firms seem to agree:)"
Saturday, October 11, 2003
Back online
Probably the longest break I have taken... Its been the busiest of days at ISB over the past 2-3 days. The one day when I actually slept one two hours to complete all my readings turned out to be a disaster... wanting to wake up at 8:30, I slept until 8:50 for a 9 am class and was woken up by Rahul, a classmate... Just managed to brush, refresh and reach the class in time... The whole day was a daze though I loved the Change Management class as I was among the few who had managed to read up all the stuff... Did some good class participation (CP) and enjoyed the class too.... There were some interesting parallels from Anil, the ex army "Major Saab" of our batch... it was an interesting class... thursday evening was very relaxed but it wa amazing 'coz i couldnt sleep... Just that friday was off meant the mind relaxes so much, you dont feel sleepy! did my cover letter and resume for the M$ and CTS projects, mailed them and slept as i tried to watch "Road Trip"... pretty tiring and was in no mood to blog... woke up real late, around noon on friday! decided that i am going to chill the rest of the day... the whole week's stress of keeping up with readings for 5 courses had sapped the energy out of me!
Not that I have to punish myself like this... I can well take just 3-4 courses and stay chill... but I have taken 5 courses because, one, some interesting courses, and two, want to keep myself relatively free in term 7, the placements time... Friday evening went in volleyball under lights and the night in a party...
Today was another one of those lousy lazy days... the friday night party started at 11 in the night after a conference call with my ELP clients, nSpace in the US... the call went well with some new insights into the company and the research we are doing for them... the party was a bash... great music and dance to boot... the whole village was rocking... it went on till 5 in the morning and by the time i slept, the sun was up and winking! so today again had to be off beat... worke up around noon, and realized I have a case discussion today... Reebok's strategy in India... Marketing research case... and a meeting at 7:30 pm over dinner to discuss and do a write up... fortunately I had read the case 2 days back out of curiosity and also, have been following Nike and Reebok just like that for the past 2-3 years... so it was an interesting discussion when it happened today... just finished the discussion and allocated some parts of the write ups... Still have to review other pending assignments! Have to buck up now and start reading for monday and tuesday... busy week ahead...
Probably the longest break I have taken... Its been the busiest of days at ISB over the past 2-3 days. The one day when I actually slept one two hours to complete all my readings turned out to be a disaster... wanting to wake up at 8:30, I slept until 8:50 for a 9 am class and was woken up by Rahul, a classmate... Just managed to brush, refresh and reach the class in time... The whole day was a daze though I loved the Change Management class as I was among the few who had managed to read up all the stuff... Did some good class participation (CP) and enjoyed the class too.... There were some interesting parallels from Anil, the ex army "Major Saab" of our batch... it was an interesting class... thursday evening was very relaxed but it wa amazing 'coz i couldnt sleep... Just that friday was off meant the mind relaxes so much, you dont feel sleepy! did my cover letter and resume for the M$ and CTS projects, mailed them and slept as i tried to watch "Road Trip"... pretty tiring and was in no mood to blog... woke up real late, around noon on friday! decided that i am going to chill the rest of the day... the whole week's stress of keeping up with readings for 5 courses had sapped the energy out of me!
Not that I have to punish myself like this... I can well take just 3-4 courses and stay chill... but I have taken 5 courses because, one, some interesting courses, and two, want to keep myself relatively free in term 7, the placements time... Friday evening went in volleyball under lights and the night in a party...
Today was another one of those lousy lazy days... the friday night party started at 11 in the night after a conference call with my ELP clients, nSpace in the US... the call went well with some new insights into the company and the research we are doing for them... the party was a bash... great music and dance to boot... the whole village was rocking... it went on till 5 in the morning and by the time i slept, the sun was up and winking! so today again had to be off beat... worke up around noon, and realized I have a case discussion today... Reebok's strategy in India... Marketing research case... and a meeting at 7:30 pm over dinner to discuss and do a write up... fortunately I had read the case 2 days back out of curiosity and also, have been following Nike and Reebok just like that for the past 2-3 years... so it was an interesting discussion when it happened today... just finished the discussion and allocated some parts of the write ups... Still have to review other pending assignments! Have to buck up now and start reading for monday and tuesday... busy week ahead...
Wednesday, October 08, 2003
Tuesday, October 07, 2003
Electives!
Yesterday and today were the first two days of electives. The first thing you notice about electives is the smaller class sizes. In the core courses, we were divided into 3 classes of 70 each. Now, profs offering electives have deliberately reduced their class sizes to 30-40 and that is pretty noticeable. One, I got a chance to speak a lot in class. The class seemed more focussed. There seemed to be richer discussion and everyone seems clued on. Dont know if I am mistakenly extrapolating what I have felt... The marketing services course is being offered by Nonny Singh and he has been keeping us very interested. The market research course, offered by Naresh Malhotra from Geogia Tech is the most popular course in terms of numbers, while operations strategy has also been commended (I did not choose this one). Marketing high tech products was interesting for a techie like me. So was Internet Business Models, by Krishnan Anand from Wharton. Now is the drop phase of the elective process. Meaning, we are all allowed to attend a lecture of a course before deciding if we want to attend it thru the term or drop it. Its been interesting to say the least... more as the days go by in this 6 week term...
Yesterday and today were the first two days of electives. The first thing you notice about electives is the smaller class sizes. In the core courses, we were divided into 3 classes of 70 each. Now, profs offering electives have deliberately reduced their class sizes to 30-40 and that is pretty noticeable. One, I got a chance to speak a lot in class. The class seemed more focussed. There seemed to be richer discussion and everyone seems clued on. Dont know if I am mistakenly extrapolating what I have felt... The marketing services course is being offered by Nonny Singh and he has been keeping us very interested. The market research course, offered by Naresh Malhotra from Geogia Tech is the most popular course in terms of numbers, while operations strategy has also been commended (I did not choose this one). Marketing high tech products was interesting for a techie like me. So was Internet Business Models, by Krishnan Anand from Wharton. Now is the drop phase of the elective process. Meaning, we are all allowed to attend a lecture of a course before deciding if we want to attend it thru the term or drop it. Its been interesting to say the least... more as the days go by in this 6 week term...
Monday, October 06, 2003
IIMs vs ISB
If the heading made you sit up, I am not surprised. I was just going thru the forums at coolavenues.com and was amazed at the carnage. There seem to be a big crowd from other bschools who are extremely sensitive to ISB and its hype, to some extent justifiably so. Some amazing messages, mudslinging that does no good to anyone...
IIMs are the premier bschools in India. No doubt. ISB is not yet there. ISB aims not only to be there but to be among the best in the world. But it needs to tread that path for sometime to come before it can reach the target. There has to be a difference between a bschool that has an established reputation for decades and one that is just 3 years old. I simply dont see why people want to compare apples and oranges.
ISB has big plans. It has great backing from industry and academia. Spirited sincere students who want to make it big in life. All the essentials for a new school wanting to make it big in the world. But when you start a school saying that, "we aim to be the best in the world in a few years", you are indeed creating hype. That hype has been interpreted by many as readymade international placements, a great course that is going to beat the blues out of IIMs in the rankings and fantabulous salaries. Lets get practical. Building an institution takes time. Rome was not built in a day. But to make it big, we need to dream big first. Then back is up with inspiration, perspiration and sincere honest effort.
IIMs are the place to be if you will not be satisfied by anything but that high flying IB job in the US. Contrast that with the opportunity to build an institution. Example: This year, ISB will host the first ISB leadership summit. From the first step of conceptualization to drawing up budgets to roping in sponsors, media partners, travel partners to even co ordination to website creation to logistics management to convincing some of the best minds in the world to take time off their schedules to come to ISB during those 3 days, everything has been done just by the students. Mind you, even the idea came from one of us. No extra money was awarded for this effort. We had to manage by pooling available money for the different clubs. We had to bridge the deficit with sponsorships. We had to negotiate the rates for everything from advertising to publishing to every little detail. All this has been managed by numerous teams of student volunteers who have been working for the past 3 months, day and night. In fact, it is only now that we are in some shape and we have tonnes of work ahead. All this in the middle of arguably one of the toughest schedules in a bschool. Now, being a student of ISB, i know I do not stand the same probability of getting an international placement as say an IIM grad, but is that first placement everything. What matters to me more is the experience I have got by participating in this massive effort to create something big from scratch. And we did not have a legacy to learn from.
Going to a bschool is a personal decision. One has to weigh everything from costs to what is important for oneself before taking a decision. Clearing CAT or GMAT does not make anyone great. It is being able to keep ones cool when the situation demands, knowing what you want and the ability to work relentlessly towards that goal that differentiates. I care a damn if you are from ISB or IIMs or any bschool. If you are honest, hard working, sincere towards your goals and smart enough to recognize opportunity when it knocks, you will go places.
If the heading made you sit up, I am not surprised. I was just going thru the forums at coolavenues.com and was amazed at the carnage. There seem to be a big crowd from other bschools who are extremely sensitive to ISB and its hype, to some extent justifiably so. Some amazing messages, mudslinging that does no good to anyone...
IIMs are the premier bschools in India. No doubt. ISB is not yet there. ISB aims not only to be there but to be among the best in the world. But it needs to tread that path for sometime to come before it can reach the target. There has to be a difference between a bschool that has an established reputation for decades and one that is just 3 years old. I simply dont see why people want to compare apples and oranges.
ISB has big plans. It has great backing from industry and academia. Spirited sincere students who want to make it big in life. All the essentials for a new school wanting to make it big in the world. But when you start a school saying that, "we aim to be the best in the world in a few years", you are indeed creating hype. That hype has been interpreted by many as readymade international placements, a great course that is going to beat the blues out of IIMs in the rankings and fantabulous salaries. Lets get practical. Building an institution takes time. Rome was not built in a day. But to make it big, we need to dream big first. Then back is up with inspiration, perspiration and sincere honest effort.
IIMs are the place to be if you will not be satisfied by anything but that high flying IB job in the US. Contrast that with the opportunity to build an institution. Example: This year, ISB will host the first ISB leadership summit. From the first step of conceptualization to drawing up budgets to roping in sponsors, media partners, travel partners to even co ordination to website creation to logistics management to convincing some of the best minds in the world to take time off their schedules to come to ISB during those 3 days, everything has been done just by the students. Mind you, even the idea came from one of us. No extra money was awarded for this effort. We had to manage by pooling available money for the different clubs. We had to bridge the deficit with sponsorships. We had to negotiate the rates for everything from advertising to publishing to every little detail. All this has been managed by numerous teams of student volunteers who have been working for the past 3 months, day and night. In fact, it is only now that we are in some shape and we have tonnes of work ahead. All this in the middle of arguably one of the toughest schedules in a bschool. Now, being a student of ISB, i know I do not stand the same probability of getting an international placement as say an IIM grad, but is that first placement everything. What matters to me more is the experience I have got by participating in this massive effort to create something big from scratch. And we did not have a legacy to learn from.
Going to a bschool is a personal decision. One has to weigh everything from costs to what is important for oneself before taking a decision. Clearing CAT or GMAT does not make anyone great. It is being able to keep ones cool when the situation demands, knowing what you want and the ability to work relentlessly towards that goal that differentiates. I care a damn if you are from ISB or IIMs or any bschool. If you are honest, hard working, sincere towards your goals and smart enough to recognize opportunity when it knocks, you will go places.
Sunday, October 05, 2003
mumbai's first flash mob...
Im not from mumbai but have read a lot about flash mobs in the last few months... and its finally happened in india... mumbai... check it out... kewl....
http://in.rediff.com/netguide/2003/oct/05flash.htm
http://mumbaimobs.rediffblogs.com/
http://www.mumbaimobs.org/
for info abt flash mobs,
CheeseBikini.com
FlashMob.info
FlashMob.com
did u know? even baghdad has its flash mob site!
http://www.geocities.com/baghdadflashmob
Im not from mumbai but have read a lot about flash mobs in the last few months... and its finally happened in india... mumbai... check it out... kewl....
http://in.rediff.com/netguide/2003/oct/05flash.htm
http://mumbaimobs.rediffblogs.com/
http://www.mumbaimobs.org/
for info abt flash mobs,
CheeseBikini.com
FlashMob.info
FlashMob.com
did u know? even baghdad has its flash mob site!
http://www.geocities.com/baghdadflashmob
Saturday, October 04, 2003
...
After a couple of days when somehow, i wasnt able to get around to blogging, here i am back again... its been a tough term break... lots of non acad things to take care of... primarily elp... resume, schol applications, other project applications... and lots of personal work...
saw one of my all time fav movies last night... found the dvd of "my cousin vinny" in the lrc... was extremely relaxing... the day before that, saw my firs imax movie at the multiplex in hyd... impressive! bought a new set of creative speakers... the speakers that come along with the toshiba laptop are not worth mentioning... music and movies are much better now...
have been working on some questionaires for the elp and its been interesting... the idea of preparing one is to elicit the information you want without boring or distracting the respondent... and it was interesting indeed to prepare and review one... got some very good suggestions from people here... quite a learning experience... the market research course next term should help even more...
m$ and cts have approached ISB with projects... they want to do specific projects with students before the recruitment process... their way of gauging students... those who get to do the project get to work in the M$ and CTS offices for 10-15 hours a week!!! now, that even better than ELP... there may be many more such projects from companies that want to see the students before recruting... its very interesting for me... anyday better than biting your nails for a one hour interview... u might as well prove yourself... tomorrow is the last day for the citibank schol and i have been trying to cobble together an essay that they can find interesting... many others have been too...
all in all, its been a busy as well as relaxing term break... take it easy kinds...
current music: "Who the fuck is alice" :)
After a couple of days when somehow, i wasnt able to get around to blogging, here i am back again... its been a tough term break... lots of non acad things to take care of... primarily elp... resume, schol applications, other project applications... and lots of personal work...
saw one of my all time fav movies last night... found the dvd of "my cousin vinny" in the lrc... was extremely relaxing... the day before that, saw my firs imax movie at the multiplex in hyd... impressive! bought a new set of creative speakers... the speakers that come along with the toshiba laptop are not worth mentioning... music and movies are much better now...
have been working on some questionaires for the elp and its been interesting... the idea of preparing one is to elicit the information you want without boring or distracting the respondent... and it was interesting indeed to prepare and review one... got some very good suggestions from people here... quite a learning experience... the market research course next term should help even more...
m$ and cts have approached ISB with projects... they want to do specific projects with students before the recruitment process... their way of gauging students... those who get to do the project get to work in the M$ and CTS offices for 10-15 hours a week!!! now, that even better than ELP... there may be many more such projects from companies that want to see the students before recruting... its very interesting for me... anyday better than biting your nails for a one hour interview... u might as well prove yourself... tomorrow is the last day for the citibank schol and i have been trying to cobble together an essay that they can find interesting... many others have been too...
all in all, its been a busy as well as relaxing term break... take it easy kinds...
current music: "Who the fuck is alice" :)
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