Preliminary knowledge

Students should have a fundamental knowledge of business administration and information systems as taught in the introductory courses. 

Abstract

Consulting is a multi-billion-euro business and it attracts many graduates who want to jump-start their professional career. After some years on engagements many leave the industry - sometimes enthusiastic due to the lessons learnt and improved job opportunities, sometimes disappointed due to the stress and lack of a work-life balance. The lecture intends to "de-mystify" IT and management consultancies by carefully analyzing the management consulting market, different types of players in the market, and their respective business models. Building on this, the course will present essential business processes that any professional service firm requires to successfully deliver value to its clients. The second part of the course will focus on engagements by exploring fundamental consulting approaches, discussing client satisfaction, and engagement success. As consulting is heavily dependent on the skills and capabilities of the individuals involved, the last section will cover the role of the consultant. In particular, it will examine the opportunities and challenges of a consultant career. 

Contents

1. Foundations

• Terminology
• Basic concepts
• Types of consulting services
• In-house consulting

• Market development, players, and market shares
• Fundamental strategies and business models

• The consulting firm's value chain
• Important business processes

• Client relationships
• The engagement process
• Engagement methodologies

• The profile of the "ideal" consultant
• How to be a good consultant
• Job challenges
• Work-life balance

Literature

• Maister, D. H. (1997). Managing the professional service firm, Free Press.
• Meffert, H. and M. Bruhn (2006). Dienstleistungsmarketing – Grundlagen, Konzepte, Methoden. Wiesbaden.
• Weiss, A. (2011). The Consulting Bible: Everything You Need to Know to Create and Expand a Seven-figure Consulting Practice, Wiley.

Teaching concept

Classic lecture with extensive discussions.

Participants

• WiInf-Ma-2010 > Wahlpflichtbereich > Wahlpflichtbereich I: Wirtschaftsinformatik > (1st-3rd Semester, Elective) Modul "Business & IT Consulting "