As competition between companies intensifies, companies have to understand their management, their competitors, and the market environment. To deal with the changing environment of the market, companies have management consultants analyze their problems and suggest solutions.
Work
Management consultants analyze problems with companies and their management and suggest solutions. They provide companies with advice on implementing plans. In addition, they can apply recent know-how and management techniques to the management of companies. Management consultants are needed in small companies rather than large companies because small companies lack professional managers who understand the problems with the companies. Management consultants analyze the personnel management, marketing, and financial management of a company and suggest solutions. Most of them work for consultancy companies, but some work independently.
Qualifications
To be a management consultant, a management consultant certificate is required. The certificate is a national certification exam, and the exam is divided into two levels. In the first level exam, the candidates have to take an exam in six subject areas, including introductory accounting, business administration, and English. People who pass the first level exam have to take the second level exam. In the second level exam, candidates select one category from human resources management, financial management, production management, and marketing, and take an exam in three subjects related to the category. After passing the second level exam, a management consultant certificate is issued. To be a management consultant, students don’t need to major in a specific major. However, if students major in business administration or economics, it is helpful in taking the exams.
Prospects
The market is changing and competition between companies is intense, so the demand for management consultants will increase. The industry has grown since the financial crisis in 1997. In 2008, the number of management consultancy companies was 2637, and the number of people in management consultancy was 26,754. Moreover, the main customers of management consultant services were large companies, but recently the range of customers has expanded to government agencies and small companies. Therefore, the demand for management consultants will increase.
