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STRATEGY CONSULTING vs MANAGEMENT CONSULTING

Anonymous A asked on Sep 03, 2018 - 3 answers

Can you please explain the difference?

(In terms of which firm does what, type of tasks, exit opportunities ....)

Thank you

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Alessandro
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replied on Sep 03, 2018
Bain & Company | University of Cambridge | CV/Resume writing | 770 GMAT
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Hi There,

Strategy Consulting is just a type of management consulting. As the name would suggest, strategy consulting entails with defining the strategy for a company/division/geography, usually in facing a specific problem (e.g. how should we enter this market?).

There are many other types of "management consulting" which are done by both MBB and by other firms. For example:

- Organisational Consulting: Recommendations on organisational aspects - e.g. how to structure organisation, defining accountability/responsibility, etc.

- Operational Consulting: Anything which advises on how to optimise/improve operations of a business - e.g. optimising supply chain.

- "PMO (Project Management Office) projects: Helping set up and run a PMO at a company to track performance using KPIs of either overall company or specific initiatives/programmes

Hope that helps!

Vlad
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replied on Sep 03, 2018
McKinsey / Accenture / Got all BIG3 offers / More than 300 real MBB cases / Harvard Business School
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Hi,

  • Strategic projects are just one type of all variety of projects done by consultants (In line with Ops, org, etc).
  • All MBB companies have generalist roles, so you can / will be staffed on any kind of the project
  • Some 2nd and 3rd Tier companies have dedicated strategic groups (e.g.Accenture Strategy) where you will have just the strategic projects.
  • In terms of exit opportunities, it's not the main factor (more important is the brand of the particular company)
  • From the personal development point - the more different types of the projects you do - the more experienced you become as a manager (and thus you will better succeed once you exit)

Best!

Thanks — Ethan on Sep 20, 2018 (edited)

Ethan replied on Sep 20, 2018
Hello, I am Ethan and i have recently graduated. I love travelling and I am here to learn more about my interests.

Well I can be crisp and talk from the hiring perspective. At the end of the day, however, you will not be hired as a strategist but instead, as a consultant. Strategy consulting is still just a niche of management consulting. As such, I’m going to refer to all of these firms as management consulting firms unless I am specifically discussing the strategy function within a management consulting firm. This is all just nomenclature though. During the application process, presenters from various firms will stress the strategic nature of their work. So even though this blog is intended to help you land a job at a management consulting firm, it will focus primarily on strategy.

Management consulting is a huge market and working in the domain can actually be a huge boost for you and your career. Well I came across an amazing resource to know about the management consulting trends, the consulting industry, its big players and many more. You can also visit here https://www.beroeinc.com/category-intelligence/management-consulting-market/

As this was just my opinion, I also agree with most of you and am willing to discuss how can we come to a conclusion on this debate. I will be very much happy to carry on this conversation with all of you as I seek great interest in the management consulting industry and having worked in it for over 2 years now, I believe this is the place to go.