What is a Management Consultant?
posted June 12th, 2013 by King University
Profitability and growth is experienced when companies implement innovative business strategies that set them apart from the crowd. To avoid the trap of stagnant ideas, company leaders and managers sometimes reach out to business experts who are experienced in the practice of thinking bigger, bolder and better.
An online MBA degree from King University builds your business know-how with versatile career skills that can position you as an innovator and big-time thinker.
What is a management consultant?
A management consultant works with leadership team members to analyze an organization’s structure, efficiency and profits in order to identify areas that can help streamline processes, limit waste, reduce costs and increase revenues.
Assignments for management consultants can vary across industries. Company leaders may request the assistance of a consultant for a variety of other business-related tasks, including implementing an effective merger or acquisition, new product launch or franchise strategy.
Typical job duties include the following:
- Gathering and organizing information.
- Contacting key stakeholders and management team members.
- Analyzing organizational data, including financial records, employment reports, etc.
- Developing solutions to key business issues.
- Identifying areas for improvement and making recommendations.
- Implementing follow-up procedures to monitor the effectiveness of procedures.
Companies constantly seek smarter ways of doing business and are always looking to grow competitive advantage in today’s global economy, which is creating a strong demand for management consultants. The Bureau of Labor Statistics (BLS) expects a 22 percent growth in management consultant employment through the decade. Growth is particularly strong in smaller consulting companies that specialize in various areas or services. Government needs for management consultants are also expected to rise, as local, state and federal government agencies look to improve efficiency and cut costs.
The median annual salary for a management consultant is over $78,000.
The King University Advantage
In an effort to maintain our commitment to an affordable education, King University has announced a zero percent tuition increase for the 2013 to 2014 terms. King University is also proud to offer an online MBA degree that bridges quality and accessibility for our adult learners.
King University is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools.