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BNAD 100, Week 5 Notes

by: Zaskia Villa

BNAD 100, Week 5 Notes 87111

Marketplace > University of Arizona > 87111 > BNAD 100 Week 5 Notes
Zaskia Villa
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These notes cover consulting.
BNAD 100
Robert Matteucci
Class Notes
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This 2 page Class Notes was uploaded by Zaskia Villa on Monday February 22, 2016. The Class Notes belongs to 87111 at University of Arizona taught by Robert Matteucci in Spring2015. Since its upload, it has received 32 views.


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Date Created: 02/22/16
BNAD 100 ­CONSULTING­  A consultant is “an expert who gives advice”  A contractor is “a person who contracts to furnish supplies or perform work at a certain price or  rate” These two are frequently blurred in today’s world. What’s unique about consulting? ­ Product is people­based, hard for seller to describe ­ Buyer has a harder time distinguishing between providers ­ Communication is crucial between buyer & seller o Customer Intimacy:  Understand the customer business (how they make money)  Understand the customer culture (how they think)  Understand the personal decision­making style of decision­makers THREE CATEGORIES OF CONSULTING FIRMS 1. Elite Strategy Firms (Ex: Bain) [way smaller, but higher profile projects] 2. MEGA IT/Business Process Consulting Firms (Ex: IBM) [most opportunities] 3. Niche/Boutique Firms (Ex: Acquity Group) [typically require experience] Example Roles 1. The client initiative 2. The role of the consulting firm 3. The role of the entry level consultant Skills Required for Consulting Analysis Skills Create good business ideas Project­Management Skills That can be put into practice Relationship­Building Skills That people go along with Business Relationships: a mutually understood set of values, the  ability to communicate effectively and efficiently with another  person Lifestyle Implications  travel, relationship­building


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