Management Consulting

Course Introduction – Session 1

1 Jan 2022

Semester 6

Indian Institute of Management Calcutta

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 1
About my journey…

Early Life

IIM Calcutta and

entry into the world
of Management
Consulting

Corporate Consulting
Australia

Back to Management
Consulting – AU,
KSA and UK

Strategy Consulting
in EdTech

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 2
 Course Schedule (1/5)
Session # Session Pre-work / Notes /
Session Topics
and Dates Name Submission Dates
Course Introduction
• Getting to know each other; How to get the most out of this course
• Introduction to the course – Session plan, assessment and assignment
Introduction- details, team formation etc.
Session 1
Course and PSFs Introduction Welcome!
1 Jan
PSFs • Features that make PSFs sector so unique (knowledge-based economy)
• Sub-sectors within PSFs sector (law, architecture, design etc.)
• Operating models and Pricing strategies (fixed price, time-based pricing,
output-linked etc.)
• What is management consulting? More importantly, what it’s not!
Demystifying Consulting Is More
Session 2 • History and evolution of management consulting
Management Than Giving Advice
1 Jan • Current global landscape of management consulting (size of the sector,
Consulting (hbr.org)
different markets – developing, emerging etc.)
• Skills that consulting firms look for (technical, cognitive, behavioural) This Is What It
• Work-life balance Takes To Become A
Session 3 Management • Persona types / traits in people who thrive as management consultants – Successful
15 Jan Consultants Must haves and good to haves to be a great consultant Management
• Success factors for consultants – How is performance of a consultant Consultant
measured? Typical KPIs and success measures (forbes.com)
• Decisions, decision, decisions Aayushi to track
• Interview / Recruitment Process (Students to update Avantika on the latest Q&A; compile and
Interviewing process changes in IIM Calcutta placements) upload for students’
Session 4 with • CV Writing → CV Prep; Personals and Case Study Prep reference
15 Jan Consulting • My personal experience – on both sides of the table Final Date: Submit
firms ‘Case Study’
selected for
Assessment Task 2
IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 3
 Course Schedule (2/5)

Session # Session Pre-work / Notes /

Session Topics
and Dates Name Submission Dates
• Study of HR Practices in PSFs / Consulting Firms Pre-read: HRM in PSFs
Session 5
HRM in • Organisational design (partnership models, and other key people Final Date: Company
PSFs practices – ‘Up or Out’, deferred compensation etc.) selection for Group
22 Jan
Project
Prep: Company profile;
Session 6 Group Consulting Project – Group Time
individual review and
22 Jan (Prep for Discussion 1 with ‘clients’)
plan for the project
• Strategy, Organisational, Tech, Operations, Risk and Financial (Tax,
Audit); Competitor Landscape - Different firms (global and boutique) in
Segments each segment – MBB, Big 4, HR, Tech and Financial Consulting Firms
Session 7
within etc. – Value proposition and key differentiators
Management • Sample projects for each of the identified segments (Instructor
29 Jan
Consulting experience across different firms, and countries)
• Sectoral and regional expertise within management consulting
• Key partnerships and affiliations
• Client relationship building – Why it becomes more and more critical as
you progress in this profession? Final Date: Names &
Session 8 Client- • Importance of being a trusted advisor and thought partner experience of 3
consultant • Client confidentiality and ethical issues (to be discussed again in Consultants being
29 Jan Relationship Session 13) – handling client data, providing independent advice, interviewed for
corporate politics (doing the right thing by the client vs. the client Assessment Task 1
organisation)
Session 9 Group Consulting Project – Group Time Final Submission:
5 Feb (Prep for Interim Update / Milestone with ‘clients’) Assessment Task 1

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 Course Schedule (3/5)
Session # Session Pre-work / Notes /
Session Topics
and Dates Name Submission Dates
• HR and Organisational Consulting: Organisational restructuring and Format: (10 + 20 +
Session 10
Case delayering – [Large Indian Pharmaceutical / Middle East Public Sector 15) mins
Studies Organisation]
5 Feb
• Strategy Consulting: Market entry strategy [Large Tech Services Provider] Breakout Groups
Operations Consulting Format: (10 + 20 +
• Cost optimisation – [Australian Sports Organisation / Australian Wealth 15) mins; Breakout
Management Company] Groups
Session 11 Case studies The D Word
12 Feb and Recap • EdTech / E-Commerce Diligence Aayushi to track
Recap and Q&A Q&A; compile and
• Doubt-clearing session on content covered so far upload for students’
• Q&A on individual and group assignments reference
Session 12 Group Consulting Project – Group Time ~60% mark for
12 Feb (Group Working Session / ‘Client’ Discussion 2) Group Projects
• Collapse of Enron Final Submission:
• Financial Fraud Assessment Task 2
• Insider trading and Rajat Gupta’s fall from grace
• 2008 Financial Crisis Prep: Pick any one
Global
Session 13 • Audit Bans (Yes Bank – EY, Satyam – PwC, IL&FS – Deloitte, KPMG) of the scandals on
Scandals in
• Conflict of Interest Pitfalls the left and read
Management
19 Feb • Guinness and Bain Stock Market Manipulation Scandal about it in detail
Consulting
• South Africa and McKinsey Corruption Scandal
• Angola, McKinsey, BCG, PwC Corruption Scandals Aayushi to
• Current controversies related to consulting giants collected questions
• UK Covid-19 Consulting Spend; Saudi Arabia’s Vision 2030 for Sessions 15-16

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 Course Schedule (4/5)

Session # Session Pre-work / Notes /

Session Topics
and Dates Name Submission Dates
• Changing client behaviours and expectations
• Rising competition from traditional and new players Management
Challenges • Driving ‘Impact’ consulting’s
Session 14
faced by • Real world doesn’t run on excels and powerpoints diversity problem—
19 Feb
Consulting • Scale of ‘impact’ is more important than what you are doing → The and why you
Firms ‘Cobra Effect’, emphasis on efficiency, model that often ignores should care
unintended side-effects, analysis paralysis (diversityq.com)
• Diversity, or the lack of it
Session 15 • Consulting by Academics – Prof. Amit Dhiman
Current Format: Speed-
5 Mar • Strategy Consulting – BCG Partner
Consulting dating Sessions
• Public Sector Consulting – EY Director
Landscape in
Speaker • [Technology Consulting – Accenture Partner] - TBC
India 2 Pre-Work Qs
Series A • [HR Strategy and Ops Consulting – Mercer Partner / Director] - TBC
Session 16 • The Good, and
Management
5 Mar • The Not-so-good of Management Consulting Format: 1 hr Panel
Consulting
Discussion and 30
from the
Speaker [Tentative Guest Speakers – Blackstone, Soft Bank, HCL and Co-Founder (ex- mins Q&A
‘other’ side
Series B Caltex, ex-McK AP)] – Final names TBC
• Consolidation of consulting firms (Big-4 acquiring strategy firms) The Disruption of
The Future of
Session 17 • Large scale transformations and RTS / Fees at risk models Management
Management
12 Mar • Balance between the four functions of consulting – Information, Expertise, Consulting l CB
Consulting
Insight, and Execution Insights

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 Course Schedule (5/5)

Session # Session Pre-work / Notes /

Session Topics
and Dates Name Submission Dates
For when you start working as a Management Consultant:
• Note-taking, summarising expert conversations, interview guides
Practical Tips • Primary and secondary research
and Tricks • Story-lining and Slide-writing
Last Date: TBC
Session 18 • Excel-Modelling Do’s and Don’ts
‘Client’ Discussion
12 Mar • Project Staffing
3 for Group Project
Course Wrap-
up Course Wrap-up
• Synthesis and course summary
• Student feedback on course content and instructor
Session 19 Team
• Presentation, Q&A and Feedback for each team (Details to follow) All groups to attend
19 Mar Presentations
Session 20 Team
• Presentation, Q&A and Feedback for each team (Details to follow) All groups to attend
19 Mar Presentations

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 Assessment Details

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 8
 Assessment Task 1 - Individual Reflections

What is this assignment about?

Based on interviews with 3 consultants, write an article on ‘Why do I want to be a management consultant?’

What are the key steps for this assignment?

1. Identify 3 management consultants in your network – Joka / Friends / Family / LinkedIn / Others – using
the following criteria:
• All three should be current / previous employees of different consulting firms
• All three should preferable be at different levels in their consulting careers
• At least one of the three should have experienced post-Masters work opportunities other than consulting
2. Conduct 45-60 mins individual interviews with all three to understand their point of view on:
• Why did they join, stay in or leave management consulting?
• Their top 2 highlights and top 2 lowlights of being a management consultant
• If not management consulting, where would they rather be and why?
What are we doing for this 20%?
• 3 pages (max) word article / essay / write-up
• Submission Date: 5 Feb 2022

What’s the evaluation criteria?

• Remember this not con / placements / interview question so avoid giving ‘right’ answers for the sake of it
• Reflect on the discussion topics from Session 5, 7 and 8 and combine them with what you’ll hear in the interviews
and your personal story and ambition
• Carefully thought through structure of the write-up, with appropriate snippets of information desired to make a point
• Strictly follow the 3-page word limit, negative marking for going over! Brevity, as a virtue, is very well regarded in
consulting.. you’ll see ☺

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 9
 Assessment Task 2 - Individual Presentation

What is this assignment about?

Developing a ‘client-ready’ document using one of the four consulting (mock) case studies provided

What are the key steps for this assignment?

1. Study Barbara Minto’s Pyramid Principle and Inductive-Deductive Logic in Communication

2. Select from one of the 4 consulting mock cases (on company websites)
• Transforming a national education system | Careers | McKinsey & Company
• Enterprise Resource Management Upgrade: Federal Quality Waste Management | Deloitte
• Wumbleworld Theme Park | Oliver Wyman Careers
• Telstra | Korn Ferry

What are we doing for this 30%?

• 10 (max) ‘client-ready’ PowerPoint deliverable
• Submission Date: 19 Feb 2022

What’s the evaluation criteria?

• 1/3rd Marks: Story lining, structuring and overall flow
• 1/3rd Marks: Slide writing – layout and design, choice of visuals (charts, graphs, icons, pictures etc.), depth and
balance of text / data (qualitative / quantitative) slides
• 1/3rd Marks: Creativity and out of the box thinking

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 10
 Assessment Task 3 – Group Consulting Project

What is this assignment about?

Consulting engagement with a ‘client’, conducting research and analysis, providing recommendations and an
implementation plan, exactly like a team of management consultants would

What are the key steps for this assignment?

1. Identify a company / organisation in the NGO/NPO, start-up and MSME sector (by 22 Jan 2022)
2. Understand their problem statement, research or analysis required and key success measures required – prepare
a 1 page scope document, circulate with the ‘clients’, Aayushi and Avantika (by 5 Feb 2022) – Non-evaluative
3. Conduct respective consulting activities required
4. Present your consulting work in group (executive summary) presentation sessions 19 and 20
5. Plan and prepare for three client check-ins, start, middle and end of the project

What are we doing for this 50%?

• Final consulting project output – in a format pre-decided by the team and respective ‘clients’
• Submission Date: Session 19 and 20, Final client discussion by 19 Mar 2022

What’s the evaluation criteria?

• Group Presentation – 50%
• Client Feedback – 50%

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 11
Let’s make a deal!

How to get the most out of this course? Disclaimers

• There are no textbooks or exams in this

• I will try my best to incorporate all
course so the best way to learn is 1. Taking all
aspects and segments of management
assessment tasks seriously, and 2.
consulting but sometimes you will see
Attending all sessions
a bias on the strategy and
organisational consulting side, given
• Stop me at any point, ask questions, this is a
my current and past experience
safe space to learn – no question is too naïve,
but no DP please (I’m not recruiting :P)
• This will be the third time I’m teaching
this course as a full-credit course (I
• Get comfortable with ambiguity and
have taught portions of this at Australian
challenges, there’s lots of it at all levels in
Universities – UTS, UNSW). I’m keen to
consulting
hear your feedback on the course, and
ways to make it better
• Get a taste of it through the external speaker
network, its important to understand what
• I will try to be as available as possible,
these industry stalwarts have to say – you’ll
just give me some notice and my
learn these things anyway but why learn the
weekends are yours!
hard way!

IIM Calcutta | Semester 6 - 2022 | Management Consulting | Dr. Avantika Tomar Page 12