IMAGINE YOU are running a company. Your business is steadily growing, and you are considering building a new factory in China. You think it will promote the production, but are not sure if it is profitable. How do you know if you are making the right decision? Well, the answer is simple, just ask a management consultant!

Role as a consultant
   According to the MCA (Management Consultancies Association), a management consultant is someone who creates value for organizations, through the application of special skills, to improve performance. When a company asks the consultant with decision-making, consultants put together a team to offer solutions to the problem. The role of management consultant is varied from financial or strategic consulting to human resources.

Being a consultant
   “We can experience various industries because we perform projects requested by various companies with diverse concerns, such as globalization or expansion of the personnel." says Sam Lee, consultant of the Monitor Group. "Frankly speaking, the work is so tough that it is hard to care for my family and my health. I feel accomplished, however, when my client really appreciates my decision. It is also exciting to play the role of a manager of a large corporation while doing my job.”

How to become a consultant
   In order to become a consultant, you have to apply to a consulting firm. Majoring in Business management may help one understand the company faster and know more about accounting or trade books, but there isn’t a big difference in ability between majors. Actually, it is more helpful to have a specialty in one area if you want to be competitive as a consultant.
The three most important things to become a consultant are logical thinking, communication skills, and interpersonal skills. Students who have read many books, had various experiences, and met diverse people are more qualified for this job. In addition, having a sense of business is advantageous such as analyzing everyday situations from a company’s point of view. English skills and certifications such as CPA(Certified Public Accountant), CFA (Chartered Financial Analyst) are also helpful as a consultant.

Prospects in the job
   The consulting industry in Korea has been steadily growing since the early ‘90s. According to the LG Economic Research Institute, many factors are motivating the demand for management consultants. First, since companies are downsizing, they tend to outsource market research, human resources, and strategic planning to the consulting firms. Another motivating factor is the advent of new markets in underdeveloped countries and the breakdown of trade barriers. In addition, consulting firms are offering new strategies, such as “VBM (Value-Based Management)” and “Core Competency” to address the concerns of many corporations.
These days, not only the big companies but the small and medium enterprises are demanding consulting services to run their companies. Thus, the prospect of becoming the management consultant is currently growing.

   It is challenging enough to manage oneself in today’s fast paced society. Everybody knows it is important but they find it difficult to achieve. Working as a management consultant is even more difficult because one has to manage diverse companies of oneself. However, the more demanding the job, the more valuable the achievement is. Why don’t you try going beyond just managing yourself?