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The Krannert full time MBA business consulting specialization or option will consist of three tracks: business analysis consulting, financial consulting, and marketing consulting. Students selecting this specialization are encouraged to take at least two of the recommended foundation courses and at least two electives courses from one of these three tracks.
Consultant positions are generally available in the following situations:
Large consulting companies, such as Accenture and IBM Global Services, which provide consulting services to clients in many industries.
Small consulting firms that specialize in a particular area of industry, such as marketing, quality management, supply chain management, and health care.
Business analysts or internal consulting groups within companies that have interest in internal consulting assignments.
Surveys show that consulting has been a very desirable career among MBA students since the 1990s. In recent years, the economy has greatly affected the consulting industry. However, a particular sector of consulting which emphasizes integration of analytical methodologies and modern information technology to generate business intelligence and solve industry-specific problems continues to flourish.
Successful candidates for consulting positions in this sector must possess strong analytical, quantitative, team leadership, organization, and communication skills. Equipping students with these skills has been one of the main educational goals of Krannert’s MBA program. This specialization provides the analytical and quantitative preparation beyond the core courses particularly needed to thrive in such professional positions.
Suggested Plans of Study
Students should take five courses to develop a strong background in the specialization. They are encouraged to take at least two of the recommended foundation courses and at least two electives courses from one of the three tracks: analytical; consulting, marketing research, and consulting in finance.
I. Recommended Foundation Courses
- MGMT 67200: Advanced Business Analytics with SAS
- MGMT 57100: Data Mining
- MGMT 57000: Spreadsheet Modeling and Simulation
- MGMT 58200: Management of Organizational Data
II. Other Elective Courses
Business Analysis Consulting
- MGMT 67200: Advanced Business Analytics (if not taken as a foundation course)
- MGMT 57200: Six Sigma and Total Quality Management
- MGMT 68200: Management of Organizational Data (if not taken as a foundation course)
Consulting in Finance
- MGMT 64400: Venture Capital and Investment Banking
- MGMT 64500: Mergers, Acquisitions, and Corporate Control
Consulting in Marketing
- MGMT 62500: Research Methods in Marketing Management
- MGMT 52500: Marketing Engineering
- MGMT 52000: Pricing Strategy and Analysis
Students selecting this specialization are also encouraged to take a project course wherein they get “hands-on” experience in working as consultants on a management problem of interest to a business firm or a non-profit organization. Courses currently offered in the Krannert School of Management that provide students with an experiential learning opportunity include MGMT 56200: Project Management and MGMT 59000: Projects in Entrepreneurship.