The fascination for Strategy Consulting!!

More often than not, I hear budding MBA's talk about wanting to be Strategy Consultants. I have always wondered why this strong fascination exists for such career options.

I thought perhaps it would be good to understand this from the perspective of a Strategy Consulting firm. So I looked up the Internet and am borrowing one such definition:

What do our Strategy Consulting services provide?

• Fresh and positive insights into your businesses core challenges and problems

• A practical and common sense approach to agreeing strategies and tactics that will deliver a winning result (that is the best outcome for your business)

Well, now let me share something less well known to the budding MBA's and Strategy Consultants. This is from The Conference Board Report "CEO Challenge 2007: Top 10 Challenges".

As this suggests, the typical CEO does not face the challenge of devising strategies; s/he is desirous of achieving Excellence in Execution.

Amongst the top reasons why a firm typically hires consultants is one that they do not have the resources within and hence seek outside support.

So, I put two and two together and can safely conclude that most of the firms / CEO's would now be looking for professionals who can help the firm "execute" their strategies effectively and consistently. But I did not see the pitch of the firm mentioning anything about "we'll do it for you".

In my view (and I may be biased), the management consultants of tomorrow would have to be ready to take off their ironed business suits, roll up their sleeves, get their hands dirty and actually "do it" for their clients. This would require real work experience and MBA will not be enough.

The direction of the wind is changing.......only those who are listening would survive!