Career Development and Self Marketing

"Career Prospect in Consulting Industry for MBA graduates"

Submitted To

Mr. Roshendra Dhoj Khadka

Submitted By

Chandani Shrestha (09)

Nikita Maharjan (19)

Sameer Raj Bista (28)

Subash Upreti (34)

MBA 14th Batch

4th Semester

School of Management, Tribhuvan University

May, 2020
 Table of Contents

CHAPTER I.....................................................................................................................................3
INTRODUCTION TO THE CONSULTING INDUSTRY.........................................................3
1.1 Management consulting industry in Nepal.........................................................................3
1.2 Positive Aspects of Management Consulting Industry in Nepal........................................4
1.3 Negative Aspects of Management Consulting Industry in Nepal......................................4
1.4 Ethical Conduct in Management Consulting Industry.......................................................5
1.5 Trends and Challenges in Management Consultancy Industry..........................................5
1.6 Correlation with Nepal’s Macro economy.........................................................................6
CHAPTER II...................................................................................................................................7
CAREER IN CONSULTING INDUSTRY FOR MBA GRADUATES IN NEPAL..................7
2.1 Career Prospects for MBA graduates.................................................................................7
2.2 MBA and Consulting Industry: Bidirectional relationship................................................8
2.3 Rationale in Choosing Consulting Industry.......................................................................8
2.4 Value Addition to Industry by MBA Graduates................................................................9

2
 CHAPTER I

INTRODUCTION TO THE CONSULTING INDUSTRY

1.1 Management consulting industry in Nepal

The history of Management Consultancy dates back to the 1900s. Arthur D. Little formed the
primary recognized Management Consulting Firm specializing in technical research named
Arthur D. Little Inc. The industry has been growing ever since.

The consultation service from outdoor experts for professional advice to businesses is provided
by Management Consultancy. There is a need of consulting specialist especially when faced with
either a tough situation from prevailing market and economic conditions, or is unable to meet the
target due to an internal crisis, or any other factor that inhibits the business to grow further. The
industry uses methodologies or frameworks for identifying problems and to apply the premise
for recommendations for practical and efficient ways to perform tasks.

The Management Consulting industry has taken a prestigious position within the global
competitive market in most developed countries. There are many top international Management
Consultancies such as Mckinsey & Company, Bain & Company, Boston Consulting Group,
Deloitte, PWC, EY, KPMG and lots of others. However, in Nepal it is in emerging stage
compared to the international market yet is gaining importance gradually indicating the great
prospect of growth in the near future with the increasing challenges for every organization day
by day in sectors like technology, operations and complex business environment.

Management Consultancy of Nepal: Green Tick Nepal Pvt. Ltd, Beed Management, Nepal
Realistic Solution Pvt. Ltd., LEAD International and etc. These are offering services in sectors
like research, information security, new set-up/business, training, strategies, tax management,
accounts and finance, operations, human resources, management, audit/compliance.

3
1.2 Positive Aspects of Management Consulting Industry in Nepal

Management consulting offers numerous benefits for every company, as they have the requisite
skills and expertise to place the firm on the growth trajectory in a considerably shorter time span.
Some of them are:

•    Wide Network: This industry widens the network with different organizations and with
different professionals on diverse subjects which can lead to more opportunities, better
employment, and economic process.

•    Compensation: New graduates who get hired usually receive an attractive salary from
this industry including allowances, insurance and other benefits. During a time of this corona
crisis, this package can be the best incentive to many job seekers.

•    Skill Development and Career growth: Management consulting position sharpens a
consultant’s analytical, organizational, and communication skills. So, even if a consultant
decides to leave the industry, he/she becomes able to employ these enhanced skills in future
positions.

•    Continuous update with business practices: The industry provides greater skill
enrichment and career growth, the one can be able to continuously connect and get updated with
the changes and act accordingly to meet the requirement with their clients.

•    Rewarding Experience: This industry helps organizations improve its efficiency and
profits focusing on company growth, which indirectly help thousands of employees.

1.3 Negative Aspects of Management Consulting Industry in Nepal

•    Less Recognition: In case of Nepal, Management Consulting Firms don’t seem to be
most given remarkable priority by all the organizations still now than in developed countries.

•    Employee Turnover: Those who are working as senior consultants or experts usually
start their own in-house consulting firms after a few years of job for better income and
reputation. So, high turnover can be observed in this Industry.

4
•    Cost Factor: Management Consulting firms seem to charge very high fees for providing
any kind of services to its clients. That may be the reason that only a few organizations are
taking services from this industry.

•    Lacking Marketing efforts of the Management Consulting Firms in the Industry has
been lacking awareness and importance of this industry in Nepalese Business Market.

1.4 Ethical Conduct in Management Consulting Industry

Management consulting firms must develop guidelines for the expected values and actions.

●               Integrity: Stating truth to clients in a considerate manner

●               Confidentiality: Using client's information only after their confirmation

●               Professional Behavior: Understanding clients' requirements and act accordingly

●               Competence: Advising based on the capacity the company has

●  Objectivity: Avoiding service to similar clients at the same time

1.5 Trends and Challenges in Management Consultancy Industry

The practice of facilitating business with current Management service consulting trends has
made the industry grow. However, the transition in various factors like technology and resources
has brought many challenges.

Trends:

•    Online promotion of services through Social Media, Content Marketing to understand
International clients and remain competitive against competitors

•    Follow Innovation

•    Modularization of Services

•    Multi-source: Collaborating with niche specialists

5
•    Maintain the changing relationship with clients

Challenges:

•    Talent Retention

•    Over dependence on human aspect

•    Availability of Subject Matter Experts (SMEs)

•    Easy access to information by clients in choosing the resource person

•    Update with Digitization

•    Increase in Competition

1.6 Correlation with Nepal’s Macro economy

1.     Contribute to GDP: Growth in Nepalese business through growing number of

management experts result in growth of the economy. The local national business can integrate
with international level through expert’s skills and strategy.

2.     Employment: The number of people employed in management consulting in the U.S.

was around 684,470 by the year 2018. In Nepal, this scenario can be experienced sooner.

3.     Uplifting small and large businesses: Many enterprises are getting expert ideas and
support from the Management Consultant in making businesses productive.

4.     Income: The experts and consultants involved in this industry are creating opportunities
for the people in business adding employment and better income.

6
 CHAPTER II

CAREER IN CONSULTING INDUSTRY FOR MBA GRADUATES IN

NEPAL

2.1 Career Prospects for MBA graduates

Choosing a career after MBA is one of the most important decisions for an individual. The
individual perspective has far reaching effects in choosing career path which can be based on
income, lifestyle, status, and job satisfaction making career paths different for each individual.

Considering the consultancy industry, it can be choice for career growth who seeks growth
professionally and personally. For this, an MBA degree adds an advantage for graduates for the
sound knowledge of business activities. An MBA may be a major advantage when competing for
management consulting jobs (Kowarski, 2019). MBA provides the talent and knowledge
necessary to start a new business, and many employers require an MBA for certain management
or leadership positions (Hayes, 2019).

In developed countries like US, payment and charges taken for one single business idea or model
cost over $75,000 p.a. (Consulting.com, 2019). Similar can be the case in Nepal soon. As long as
the market grows, the need for consulting business will grow. The COVID-19 crisis will
certainly make organizations deal with some uncertain changes and challenges which in turn
raise value for consulting service in upcoming days and years.

With varied nature of industries now operating in Nepal it seems legit to choose management
consultancy as a career in providing industries insight on what had happened, what is happening
and what the future would be like although individual's perspective regarding career choices
differs due to various factors.

7
 2.2 MBA and Consulting Industry: Bidirectional relationship

Figure 1: Bidirectional relationship between Consulting Industry and MBA graduates

2.3 Rationale in Choosing Consulting Industry

Some of the foundational reasons to choose this industry are highlighted hereunder:

 International opportunities: Enables students and professionals join consultancies for

business uplifting making connections globally in grabbing international opportunities.
 Working with experts: Working with experts acknowledges wide knowledge and
professionalism for career growth.
 Valuable work experience: Experience acquired can be valid in international market
with certain certification courses.
 Professional Development: Facing complex tasks needs training, additional skills,
knowledge thus; the industry molds employees into professionals.
 Non-monotonous tasks: Ranging from general to specialized task, it boosts productivity
and less chances of error due to concentration in an issue.
 Job Flexibility: Handling multiple tasks requires concentration so work from home
option to accomplish task with fresh mind.

8
  International Professional Certification: Various certification courses can be taken
after getting certain years of experience in consultancy field which is recognized
globally.
 Jumps start their own business: Student from various MBA specialization like HR, IT,
Marketing, Finance could jointly start the business by exploring the Nepalese market.

2.4 Value Addition to Industry by MBA Graduates

The value created by Management consultancies is immense as they must know each part of the
matter well which isn't a basic task.

1.   Managerial Skills: The MBA degree itself adds value in this industry. MBA program is
designed in refining hard and soft skills. Working in team, managing time, logical reasoning,
communicating, problem solving, meeting deadline, maintaining formal dress codes are
exercised in MBA which is helpful for the consulting career and entrepreneurial opportunities.

2. Fresh Ideas: While dealing with clients, graduates can bring new and rewarding ideas to
construct the work professionally lowering the cost of clients in hiring an employee. The ideas
can help in solving a controversy, supporting in implementing solutions, building compliance
and assurance to hence improving organizational performance.

2. Research Skills: MBA graduates can suggest better to their clients as they are quite
accustomed to the research and develop strategy to cater to the challenges. Constant updates with
current technological advances among MBA graduates can add more value in this industry.

3.     Networking skills: MBA graduates understand how to cater to people read their
behavior, needs, expectations and negotiate with clients within the competitive market. This
differentiates MBA holder from other in creating and maintaining cliental relationship

4. Academic Skills: The Finance Specialization graduates can work as an expert of

Accounting, Financial, Analytics, Tax Management and Auditing; Marketing Specialization can
work in planning & advertising, market research, brand management; HR specialization can
contribute in HR planning, hiring, selecting, outsourcing and retirement plans. Specialized
courses direct graduates to achieve specific skills as well as provide services in multiple
disciplines.

9
As Nepalese industries are growing, the need of management consulting is very necessary in
grooming those industries. Hence, we can see the wide array of career prospect of MBA
graduates in Management consultancy in Nepal. The bidirectional relationship between
consulting industry and MBA graduates makes this industry more promising for all management
students.

10
 References

7 Careers You Can Do with a Finance Degree Other Than Banking. (2019, 9 04). Retrieved 4
28, 2020, from MBA Careers: https://www.topmba.com/jobs/7-careers-you-can-do-
finance-degree-other-banking

Consulting.com. (2019). Retrieved 4 2020, from Consultant Salaries In 2019:

https://www.consulting.com/consultant-salaries?
fbclid=IwAR32h0g8QHXKamx1qOkBRHl_0dyNjO5-
sXqdphHVRzhmPHpe6mN9DEs7Gms

Bhasin, H. (2019). Management Consulting – Advantages of Management Consulting.

MARKETING 91.

H.Plecher. (2020). Nepal: Distribution of gross domestic product (GDP) across economic
sectors from 2008 to 2018. Retrieved 2020, from Statista:
https://www.statista.com/statistics/425750/nepal-gdp-distribution-across-economic-
sectors/

Hayes, A. (2019, 6 25). Investopedia. Retrieved 4 2020, from

https://www.investopedia.com/articles/personal-finance/011415/when-mba-worth-it.asp

Kowarski, I. (2019). Will an MBA Help You Become a Consultant? U.S: U.S. News.

Thebe-Limbu, S. (2016). Young, educated and unemployed. Retrieved 2020, from Nepali Times:
https://archive.nepalitimes.com/regular-columns/GUEST-COLUMN/young-educated-
unemployed,664

11