Bus Consulting Exam 1

Front 1

1. Letter of Transmittal:

Back 1

formally presents the client with the report and THANKS the client for allowing the student team to work with the client.

Front 2

2. Cover Page

Back 2

1.name of the client
2.members of the team
3.date

Front 3

3. Executive Summary

Back 3

I,P,M,R,R
-abstract of the key ideas
-brief statement of purpose
-summary of the methodology employed
-summaries of the key findings/results
-recommendations offered by the team.

Front 4

5. Statement of the Project Purpose

Back 4

: A description of the purpose and specific objectives of the student consulting project.

Front 5

7. Environmental and Firm Analysis

Back 5

- dynamics of the external environment
- industry overview
-a competitive analysis
-firm’s overall market position.

Front 6

9. Findings and Results:

Back 6

-discuss importance and ramifications of the findings to the client.

Front 7

10. Recommendations

Back 7

-WHAT:detailed description of the proposed course of action
-HOW:specific methods/activities the client should use to implement

Front 8

services provided by consultants

Back 8

APETE

advising, planning, evaluating, training, expert testimony

Front 9

3 hallmarks of great consultants

Back 9

1. good questions, eager to find answers
2.manage multiple pov
3. pleasure of seeing others succeed

Front 10

PEST model

Back 10

P-political/Legal (taxes, envir. regulations)
E-Economic (interest rates, inflation, wages, employment)
S-Social (aging, income, green movement)
T-Technological

Front 11

Porter's 5 forces model affecting industry competition

Back 11

-relative strength of factors affect competitiveness of industry and profitability of firms within industry.
-E, B.P-S/B, S, R

1.Entrant barriers (brand identity, government policies, high switching costs)
2. Bargaining Power of Supplier (switching costs, presence of sub inputs)
3. Bargaining Power of Buyer (buying concentration vs. firm concentration, buyer switch costs, buyer profits)
4.Sub. Products (relative prices, switching costs, buyer tendency to switch)
5.Rivalry (prod. differences, brand identity, switching costs)

Front 12

ways to prepare for business consulting

Back 12

1. visit Pom. Career Center
2. know main lib
3. look at fieldwork project ex.
4. talk to students
5. go to sm. bus. Admin.
6. go to chamber of commerce

Front 13

a couplemyths of fieldwork

Back 13

1. business without obvious problem is bad.
2. better to work alone that in group.
3. more established business is better than (pre)start-up bus.
4. all my ideas i recommend should be used.
5.

Front 14

3 phases of fieldwork (process model)

-name 3
-describe each one

Back 14

1. the assessment phase (gather info about A.client B.industry envir. C.general envir. D.nature of project, outcome is project DELIVERABLES)
2. implementation phase (develop plan, communicate ", manage ")
3. results phase (presentation of deliverables, follow-up activities)

Front 15

most significant issue to be discussed during initial meeting

Back 15

client's expectations

Front 16

project purpose and deliverables answers 3 questions.

-what are they?

Back 16

1. what does team intend to do? why?
2.How does team do it?
3. What does team intended to provide to client?

Front 17

project purpose has 3 elements

Back 17

1. overall def and shape (WHAT?)
2. general methods intended to use (HOW?)
3. tell client what to expect. (TO WHAT EXTENT?)

Front 18

objectives characteristics (4)

Back 18

1. specific
2. agreed upon by all members
3. time framed
4. attainable

Front 19

assessment phase boxes (3)

Back 19

(I,M,E)
1. info gathering/prelim. analysis
2. initial Meetings w clients
3. Establishing the purpose & scope of project

Front 20

implementation phase boxes (4)

Back 20

(M,O,E,R)
1. developing action plan/methodology
2.determining objective
3.plan execution
4. final report prep.

Front 21

Result phase boxes (2)

Back 21

(P,F)
1. present deliverables
2. follow-up activities

Front 22

three levels of a team structure

-name
-describe duties of each

Back 22

1.PM-assumes leadership
-delegates tasks
-group representative at meetings

2. task managers-assumes responsibility of SPECIFIC task within scope of project
3. team members- have clear understand of roles and norms

Front 23

intergroup conflicts

-name 3

Back 23

1. role conflict
2. lack of motivation
3. other (PM dictator,unassertive team member)

Front 24

decision making model:step 1

-what is it
-what kind of data is used?

Back 24

review of info/research

-use 1st and 2ndary data
-data from all phases
-ask "what does this suggest the client do?"

Front 25

decision making model:step 2

-what is it
-how do you do it

Back 25

generation of alternatives

-creatively brainstorming
-infinite ideas

Front 26

decision making model:step 3

-what is it
-how

Back 26

evaluate of alternatives

-eliminate ideas one-by-one until down to a set.
- do pro/cons of each one in the set.

Front 27

decision making model:step 4

-what is it
-how to do it

Back 27

selection of alternative

-develop set of criterion, and base selection process off which alternative best fits these criterion

Front 28

decision making model:step 5

-what is it
-how do you insure this is done

Back 28

implement alternative

-explain why/how recommendation is best
-walk client through exactly how to do (cookbook approach, illustrations)

Front 29

steps to collecting information (4)

-name
-describe each one

Back 29

1. decide which information is needed
2. gathering info
3. organizing info (prioritize value, be objective)
4. interpreting info (don't favor certain types of data, don't be overcritical, don't stretch conclusions)