When businesses reach a crucial phase or need certain strategic decisions to be taken, there is a need for an outsider to think rationally and give practical solutions. They rely on this third-eye perspective to check the circumstances with unbiased views. Therefore, these businesses seek a qualified business consultant.
A consultant provides unique solutions for the business upgrades, profit options and product reviews among others. Even specialized areas like finance or investments and taxation are covered along with the overhaul of a company’s health. There is a vast spectrum of work in consultant sector.
Both small businesses and heavy industries suffer losses due to wrong decisions or lack of foresight. To counter this, wise businesspeople consult a consultant with an MBA or a company before jumping to conclusions about a new venture or a decision. Now, you might wonder why they prefer an MBA consultant.
In business management administration courses, the B-schools teach specific consulting skills, business problem solving, communication skills across industries, platform, media, different departments, analysis of business situations and issues. They also improve presentation skills and corporate strategy skills. Consultancy with an MBA allows people who want to pursue unique specializations to have their cake and eat it too.
There are big reputed consulting firms which provide specific solutions or offer a master solution for all problems for the total transformation of a business. Such consultants are paid approximately $1,46,000/ p.a. Even online degrees are recognized for consulting work. So, if you cannot opt for campus-based normal MBA course for two years, try this specialization in accredited online MBA degree. It will take a little more time to complete your graduation, but the results are worth it.
MBA candidates are already prepared with valid reasons for consulting, which is at the top of their radar. They are valued for their skills in technology, finance, IT and accountability for good hiring practices among other wide-ranging skills. Consultants and general management executives are beneficial for recruiters, multi-tasking, a result-oriented approach and the ability to prioritize.
It is, however, necessary that when you choose a unique job which requires out-of-the-box thinking, you will have to select an accredited B-school. Here are some tips for selecting the right B-school offering specialized courses for consultancy.
First, check the accreditation of the school. AACSB [The Association to Advance Collegiate Schools of Business], or AMBA[Association of MBA], ACCSC and European Quality Improvement System[EQUIS] are all valid accreditations.
Then check the ranking of B-schools over a world-wide scale. Check if they offer consultancy as a specialization course. Just choosing admission in high ranking school for common MBA courses will result in a job offering a package of hardly $1,05,000 p.a. Whereas a career in consultancy from campus placements nets you $1,40,000 p.a.
Consultants must know varied subjects taught in B-schools such as technical, financial, health care, agricultural, executive program, human resource, marketing, customer service etc. This is because they have to advise companies which deal in any of these activities. Therefore, consultancy programs have vast syllabus. Verify that your B-school has maximum types of programs to cater to this need.
Consultants are leaders in solving the company’s problems. Some B-schools provide practical experience for troubleshooting and leadership programs. To opt for such an institution is a wise decision.
Study the fee structure. It should be convenient for your pocket. Accredited schools with reasonable fee with consulting as a subject is a cake with icing. You can also choose online MBA degrees which fit within your budget. But perform rigorous background checks for the B-schools offering consultancy as one of the subjects.
To choose the right B-school, the main criteria is placement. Search the placement pattern and discuss with alumni about their experiences. Increase your network of professional contacts within the B-school. Your colleagues can help you in providing consultancy contracts in organizations where they have joined as managers.
So, there are many advantages to choosing consultancy as a career. You get to be your boss, or work with a consulting firm, and give advice to businesses as suggestions without significant accountability issues.