Area Description

The analytical consulting option will consist of three tracks: business analysis consulting, financial consulting, and marketing consulting. Students selecting this option are encouraged to take at least two of the recommended foundation courses and at least two electives courses from one of the three tracks: business analysis consulting, financial consulting, and marketing consulting.

Vision

Consultant positions are generally available in the following situations:

• Large consulting companies, such as Accenture and IBM Global Services, that provide consulting services to clients in many industries.
• Small consulting firms that specialize in a particular area of industry, such as marketing, quality management, supply chain management, and health care.
• Business analysts or internal consulting groups within companies that take internal consulting assignments.

Surveys show that consulting has been a very desirable career among MBA students since the 1990s. In recent years, the economy has greatly affected the consulting industry. However, a particular sector of consulting which emphasizes integration of analytical methodologies and modern information technology to generate business intelligence and solve industry-specific problems is still flourishing.

Successful candidates for consulting positions in this sector must possess strong analytical, quantitative, team leadership, organization, and communication skills. Equipping students with these skills has been one of the main educational goals of Krannert’s MBA program. This option provides the analytical and quantitative preparation beyond the core courses particularly needed to thrive in such professional positions.

Suggested Plans of Study

Students should take five courses to develop a strong background in the option. They are encouraged to take at least two of the recommended foundation courses and at least two electives courses from one of the three tracks: analytical; consulting, marketing research, and consulting in finance.

I. Recommended Foundation Courses

MGMT 672: Quantitative Methods III

MGMT 690N: Data Mining
MGMT 570: Spreadsheet Modeling
MGMT 682: Management of Organizational Data

II. Other Elective Courses

• Business Analysis Consulting

MGMT 672: Quantitative Methods III (if not taken as a foundation course)

MGMT 572: Tools for Total Quality Management
MGMT 682: Management of Organizational Data (if not taken as a foundation course)

• Consulting in Finance

MGMT 644: Managing the Corporate Capital Structure
MGMT 645: Mergers, Acquisitions, and Corporate Control

• Consulting in Marketing

MGMT 625: Research Methods in Marketing Management
MGMT 525: Marketing Engineering
MGMT 520: Pricing Strategy and Analysis

Students selecting this option are also encouraged to take a project course wherein they get “hands-on” experience in working as consultants on a management problem of interest to a business firm or a non-profit organization. Courses currently offered in the Krannert school that provide students with an experiential learning opportunity include MGMT 562, “Project management,” MGMT 691R, “Projects in New Venture Capital and Technology,” and MGMT 691Y, “Projects in Entrepreneurship.”