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bc,How to be a Great Consultant,March 1998,Copyright 1998 Bain & Company, Inc.,Developer: Alex Wouterse Reviewers: Tony Ecock Steven Tallman John Clarke,2,Great Consultant,Key success factors The function of expectations in predicting consultant success Managing expectations for new consultants Evolving expectations for experienced consultants Key takeaways,Agenda,3,Great Consultant,Great consultants base their success on characteristics that extend well beyond analytical thinking.,Baseline analytical expertise, but also Excellent interpersonal skills and knowledge of people management facilitation motivating others conflict management Frank self-awareness of strengths and weaknesses Receptiveness to feedback from a variety of sources Ability and willingness to act on feedback training experimentation practice Desire to succeed as a consultant,Five Key Characteristics,4,Great Consultant,Key success factors The function of expectations in predicting consultant success Managing expectations for new consultants Evolving expectations for experienced consultants Key takeaways,Agenda,5,Great Consultant,What people expect of you will depend on their needs and perspective.,If in doubt, ask about the expectations of the people you work with.,Expectations and Differing Perspectives,6,Great Consultant,Bain VPs on what it takes to be a successful consultant.,“Few consultants have the total package when they arrive. The best consultants leverage either extraordinary analytical or client skills and then develop the rest over time.”,“Paradoxically, team skills are not a way that consultants distinguish themselves. Almost everyone we hire has excellent team skills based on where and how we recruit.”,“Over time, there is no substitute for the ability to quickly crack a tough business problem/analysis and design/execute an efficient path for gathering the data to back it up. This is what we do day in and day out. It creates client success stories and smooth team operations.”,Successful Consultants: Bain VPs Perspectives,7,Great Consultant,“Unsuccessful consultants.,are arrogant and unreceptive to feedback. They stop three-quarters of the way through the analysis because they are confident its right and dont convince skeptical clients to change.”,do not become expert in the functional or industry area they are working in. The clients question their value-added - often from their first interaction.”,do not get out in front of their managers. They are executing another persons to dos rather than designing their own path. They dont live up to, let alone exceed, expectations. Their lifestyle is totally reactive. And their morale is understandably low.”,treat the Bain job as an extension of school. Like courses and professors, cases and team leaders are good or bad. Case work is an assignment, not a personal mission. Also, they think in terms of us/them rather than joining the team and pulling for the joint cause. As a result, they do not add as much value as they think they do, or theyre capable of, and they are tiresome to manage.”,Unsuccessful Consultants: Bain VPs Perspectives,8,Great Consultant,Key success factors The function of expectations in predicting consultant success Managing expectations for new consultants Evolving expectations for experienced consultants Key takeaways,Agenda,9,Great Consultant,When you start working, you hear different things about Bain and what others expect of you.,“You sign up. Then, they tell you what you are really up to.” “Get on a good case. Work for a good manager/mentor.” “If you are not involved in recruiting, thats a bad sign.” “The first year you will probably do spreadsheets, spreadsheets, spreadsheets.” “A great analyst can get away with lousy team scores.” “Make a good impression on the VPs you are working with. Thats all that counts.”,This module aims to tell you what you really can expect and what is expected of you.,Start-Up Expectations,10,Great Consultant,Consultant expectations and roles are grounded in the Bain mission.,Bain & Companys mission is to help our clients create such high levels of economic value that together we set new standards of excellence in our respective industries. This mission demands,Mission Statement,We believe that accomplishing our mission will redefine the management consulting business, and will provide new levels of rewards for our clients and for our organization.,The Bain vision of the most productive client relationship and single-minded dedication to achieving it with each client The Bain community of extraordinary teams The Bain approach to creating value, based on a sharp competitive and customer focus, the most effective analytic techniques, and our process for collaboration with the client,Mission and Expectations,11,Great Consultant,The Bain vision of client relationships is realized by delivering results, not reports. Your role as a consultant is a function of Bains vision for each client relationship.,Relationship to Client,Value Added Results,“Fee-for-service Adviser” (Billing hours of advice),“Dedicated Partner” (Selling profits at a discount),“Profit Participator” (Buying profits at a bargain),“Empowered Entrepreneur” (Taking full ownership position),Consultant role:,Independent and objective Industry experts Serve a client for a fee,Strong alignment with dedication to clients destiny Experts on the clients industry and key strategic challenges Long-term relationships Value-sharing whenever possible,Controlling role towards client management Exclusivity, no conflict of interest Focus on results,Active dedication to success by full risk sharing Entrepreneurial role based on experience in “results through strategy”,Client Relationships and Consultant Role,12,Great Consultant,The Bain mission and vision can be translated into concrete expectations for a new consultant. Your ultimate success will rest upon your ability to meet these expectations.,What will make you a great consultant at Bain?,Value Addition,Client Relationships,Communication,Extraordinary Teams,Expectations are integrated into a business system (recruiting, training, professional development, performance management) Expectations are linked with market positioning and Bain brand (“results through strategy”),Success Factors and Expectations,13,Great Consultant,What do we expect from you as a new consultant in the area of value addition?,Identify the action/ answer that will lead to client value,Pyramid the problem,Plan the work,Execute the work,Interpret the analysis,Identify key issues of workstream,Help to formulate specific hypotheses logical mutually exclusive/ collectively exhaustive (MECE),Develop blank slides Design analysis to complete the slides Design templates to gather data Identify checkpoints Develop a timeline,Gather representative, primary data in the most efficient way Perform zero defect analysis Avoid crunches,Reality check Anticipate client reaction Deliver expected results,Baseline:,Oversee interdependencies with whole case Help structure the “big picture”,Create a completely MECE pyramid of the clients problem motivate the client to take action, or prove the answer Get to the heart of the matter quickly,Build up realistic HIT-based planning and Answer-First consistently,Master most complex analytical toolkit Coach other team members,Develop breakthrough insights and significant tangible results on your specific module,Distinguishing:,Expectations: Value Addition,14,Great Consultant,What do we expect from you as a new consultant in the area of client relationships?,Evaluate client needs,Manage client situation,Build relationship,Generate impact,Sensitive to client needs, constraints, and culture,Conduct professional and controlled interactions Always run well-prepared meetings,Viewed as expert by client,Work with client on relevant issues Help to support change in individual interactions,Baseline:,Cultivate acute awareness of others attitudes and values,Follow up all client commitments,Build personal relationship based on outstanding expertise and empathy with client,Turnaround client team members into real change agents and “Bain friends”,Distinguishing:,Expectations: Client Relationships,15,Great Consultant,What do we expect from you as a new consultant in the area of communication?,Interact parallel with client,Develop a presentation,Present,Ensure consensus, follow up, and action,Leave a trail,Adopt a candid and precise communication style,Help to create a well-structured, logical presentation Generate flawless, succinct “Bain standard” slides,Rehearse sufficiently Prewire assigned client employees Present own work with flawless execution,Note key client questions and observations in meetings and presentations,Provide back-up File,Baseline:,Use communication to convince and motivate clients to take desired action,Independently prepare a “crisp” presentation compelling storyline high impact slides,Be proficient and convincing in larger, formal presentations,Guarantee achievement of desired results,Make excellent BRAVA and practice area contributions,Distinguishing:,Expectations: Communication,16,Great Consultant,What do we expect from you as a new consultant in the area of extraordinary teams?,Self,Team,Office,Be receptive to feedback Sustain commitment to Bain,Be a true team player 100% of time Contribute positively to morale,Manager (upward),Be reliable Be supportive,Act as an accepted and responsible member of office community Demonstrate professional behavior to all administrative staff,Systematically solicit and use feedback from others to improve own performance,Successfully motivate and integrate other new consultants into team,Leverage managers time and value added,Manage proactive contribution to overall office morale Network Earn respect Engage in informal office activities,Baseline:,Distinguishing:,Expectations: Extraordinary Teams,17,Great Consultant,According to VPs, successful consultants do not ignore the basics.,You can never overdo prewires Send faxes well in advance of teleconferences number your pages Only produce slides after the story or executive summary is written in the best presentations, taglines correspond to the executive summary verbatim producing slides and then trying to make a story out of them is the single greatest cause of yield loss at Bain Create fewer, better slides reduce rework - create “client ready” slides for the first time use graphics technology to leverage your work, not expand it use fewer words, bigger text Develop a bias for fact-based slides - avoid stoplight charts or subjective word slides label appropriately include sources Rehearse presentations sufficiently to make adequate eye contact with the audience dont read slides to people who can read slides for themselves slides support the story and are no substitute for real-time commentary Start with the end in mind if the end product is a board presentation, blank out a board presentation - dont try to start with a management level presentation and convert it,Tips from VPs,18,Great Consultant,Key success factors The function of expectations in predicting consultant success Managing expectations for new consultants Evolving expectations for experienced consultants Key takeaways,Agenda,19,Great Consultant,Expectations evolve for an experienced consultant. Great consultants are “caseteam leaders and managers-in-training.”,Evolving Expectations,20,Great Consultant,State-of-the-art problem-solving know-how and client process skills,Over time in a consultants career, basic values remain the same but differ in emphasis.,Junior consulting staff,Senior consulting staff,Time Allocation,Analysis/ problem-solving,Caseteam/client management,Sales/marketing,Know-how creation and experience sharing,Role:,Key success factors:,Top analyst/problem solver,Change agent,Leadership in effecting change (process skills),“Performance Partner” for top management,Sales/marketing, product development,Role Development,21,Great Consultant,Expectations about your role will increase in line with your broadening skill levels.,Value addition,Client relationships,Communication,Extraordinary teams,Focus on assigned workstream Become expert in certain tools, functions, tasks Focus on big picture Gather and share expertise in major relevant business/industry issues,Establish relationship with specific client team members Become a respected project team member Establish long-term relationships with key client decision makers Earn personal respect beyond mere project/ business issues,Communicate proactively and professionally Create well-prepared parts of presentations Use communication skills consciously and systematically to motivate others to take action Create and supervise the creation of complete presentations that convince the client,Be a grea

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