BSM975 MANAGEMENT CONSULTANCY AS PRACTICE

BSM975 MANAGEMENT CONSULTANCY AS PRACTICE Academic Year 2013/14 Number of Aston Credits: 15 Number of ECTS Credits: 7.5 Staff Member Responsible ...
Author: Paul Riley
1 downloads 3 Views 199KB Size
BSM975 MANAGEMENT CONSULTANCY AS PRACTICE

Academic Year 2013/14 Number of Aston Credits:

15

Number of ECTS Credits:

7.5

Staff Member Responsible for the Module: Dr A. Grosman Economics and Strategy Group Availability: please use wass Or contact the Economics and Strategy Group Administrator: Ms Lynne Woolley, SW907B, Extension: 3038 Email: [email protected]

Pre-requisites for the module: None

Module Objectives and Learning Outcomes: A3; B1; B3; C1; C2; D2; D3 The scope of this module is to introduce students to the management consultancy industry, its history, structures and practices. In the process, they acquire skills for a career in management consulting and learn about the distinctive challenges of managing a management consultancy. Both areas provide ample opportunity to apply tools and frameworks encountered in BSM900 and BSM931. Given that students learn about both, the practice of being a management consultant and the practicalities of managing a consultancy company they should, over the course of the module: Knowledge Develop a critical understanding of the role, social responsibility and changing nature of management consultancy work in today’s economy. Obtain a detailed understanding of the economics of professional service firms, the distinct challenges of managing management consultancies, and the key models and theories to address them. Learn about the canopy of consulting services and segmentation: from strategic and operational to specialized consulting, such as in the areas of technology and media

Appreciate the dynamics of client-consultant relationships and their impact on knowledge generation and dissemination Skills Acquire the means to communicate clearly and compellingly, both verbally and in writing Develop theoretically-informed yet pragmatic problem-solving skills that directly address client problems Learn to function as a valuable team member that contributes to the fullest of her/his abilities Become familiar with mechanisms for pricing and bidding for consulting projects Learn the basics of being a self-employed consultant as opposed to working for a big consultancy firm Practice for the interviews with a broad variety of examples of questions and cases given during the recruitment process Survival tips for working in high-pressure organizations

Module Content: Week 1: A Critical Introduction to the Management Consultancy industry: History, Context, Segmentation and Social Responsibility

Week 2: The Economics of Consultancy – Financing, Incorporation and Career Progression. Illustrated by Zefer case (cf. pre-readings for the information on case preparation).

Week 3: Week 4:

Management Consultancy in Practice: working for a top firm or running your own (Guest Lecturer: Mark Kitten) Pitching and Tendering: Convincing the Client you are the One.

Week 5:

Client Relationships and the Consulting Process: Problem Framing, Solution, Alignment

Week 6:

Communication – Report Writing – Presentation (Guest Lecturer: Mark Kitten methodologies of strategic and management consulting, touching upon different types of assignments)

Week 7:

Recruiting Process and Interviews, including Case Studies and Recruitment Questions

Week 8:

Assessed Presentations

Week 9:

Revision

Week 10: Exam

Corporate Connections: The module takes advantage of the experiences and industry connections of the academic staff involved who have previously worked for a large US multinational in managerial roles of Strategy and Corporate Development, bringing the client perspective on consulting work for large multinationals, including organizational and operational restructuring, and commercial due diligence. The guest speaker(s) will bring a first-hand experience on either being a founder of own management consultancy or working for top tier consultancy firm.

International Dimensions: The material for the examples used in this module, comes from prior professional experience of academic staff who led international projects, including expansion and organizational and operational restructuring.

Ethics, Responsibility & Sustainability: This module deals with issues regarding the practice of management consulting and the challenges of managing a consulting firm. Ethics and responsibility in management consulting are an integral part of the syllabus and are covered in detail within the lecture of critical introduction to the management consulting industry.

Method of Teaching: The mode of teaching will use a combination of lecture sessions and syndicate groupbased exercises. The exercises are designed to support the application of the theory in practice.

Method of Assessment and Feedback: 30% group based assignment on: ‘write a consultancy bid/proposal and present it’ 70% 2 hour closed book exam

Learning Hours: Pre-reading Contact and directed learning (lectures/case study work) Private Study and reading Total

30 30 90 150

The following readings are subject to change. Students should not therefore purchase textbooks prior to commencing their course. If students wish to undertake background reading before starting the course, many of the chapters/readings are available in electronic form via on-line library catalogues and other resources. Pre-reading: 1. The Minto Pyramid Principle Minto, B. (2010). The Minto pyramid principle: logic in writing, thinking and problem solving. Published by Michael Robertson. Abstract: Barbara Minto developed The Pyramid Principle through her early work as a consultant at McKinsey & Company, Inc. The Minto Pyramid Principle says that your thinking will be easy for a reader to grasp if you present the ideas organized as a pyramid under a single point. Note: The reading of the whole book is non essential and can be substituted by the many summaries of the Pyramid Principle found on Internet. For example, “The Minto Pyramid Principle Approach to Writing” and other related material can be downloaded from http://www.gobookee.net/barbara-minto-pyramid-principle/ 2. “The McKinsey Way” Ethan, M. R. (1999). The McKinsey Way: Using the Techniques of the World’s Top Strategic Consultants to Help You and Your Business. Published by McGraw-Hill. Abstract: In “The McKinsey Way”, former McKinsey associate Ethan Rasiel shows you how McKinsey-ites think about business problems and how they work at solving them, explaining the way McKinsey approaches every aspect of a task: How McKinsey recruits and molds its elite consultants; How to "sell without selling"; How to use facts, not fear them; Techniques to jump-start research and make brainstorming more productive; How to build and keep a team at the top its game; Powerful presentation methods, including the waterfall chart; How to get ultimate "buy-in" to your findings; Survival tips for working in high-pressure organizations.

Set Text: Zefer Case Study (to be prepared for week 2): P. Gompers. "ZEFER" Harvard Business School Case 299032-HCB-ENG, Published 1999 (revised 2000). Abstract ZEFER, a young Internet professional service firm, is considering its expansion options. Organic growth versus growth by acquisition is a central theme. The firm's financing strategy will be determined by its business strategy. [the case and questions will be uploaded separately through the Blackboard]

The Zefer case should be prepared in groups, some groups will be randomly called to present during week 2. The case is not graded (but a bonus point will be given for the group with the best presentation). O’Mahoney, J. (2010) Management Consultancy, Oxford University Press: Oxford

Indicative Bibliography: Clark, T. (1995) Managing Consultants, Open University Press: Buckingham Clark, T. & Fincham, R. (eds) (2001) Critical Consulting: New Perspectives on the Management Advice Industry, Blackwell: Oxford Kipping, M. & Engwall, L. (eds.) (2002) Management Consulting: Emergence and Dynamics of a Knowledge Industry, Oxford University Press: Oxford McKenna, C. (2006) The World’s Newest Profession: Management Consulting in the Twentieth Century, Cambridge University Press, Cambridge

Recommended Journals: Harvard Business Review Sloan Management Review