What is Consulting..?

I am posting this as aresponse to a comment given by a Rajuram in my previous post The life of a consultant?. Many people have the mindest that Consulting is Just Strategy Consulting and you have to work only at McKinsey to be a great consultant. Of Course McK pays the largest amount and thats why many are interested. But there are a bunch of companies other than McK, BCG and Booz Allen that realy do a good job.

Consulting is a broad term and it has many sections. We can break down consulting into two main ways.

1. Functional-wise : If you are good at Corporate finance, then you can be a consultant at Megers or Future investments. If you are good at Operations and Supply chain you can be a consultant at Production and sourcing and distribution Strategy. If you are good at Marketing, then you can work on product and promotion strategy.

2. Industry-wise : You have good exposure to consumer durables industry. So you can use that to give advice on various functional areas in that Industry.

Don't think that you have to work in McKinsey to be a great consultant. After all many McKinseyites quit after initial 2-3 years to settle down in a company. The work is too hectic and many have to sacrifice personal lives for work..And if you dont perform to the expectations you are out..