frequently asked questions
What is Consulting?
Consulting is the process of solve pressing business problems for clients. Consultants typically work across a wide range of industries and geographies to apply their skills and expertise to analyze the data the client has given them, and deliver a recommendation that will solve the client’s business problem. Consultants are hired so that businesses can obtain additional experience, resources, or gain a fresh perspective.
Types of Consulting?
In addition to general management consulting, some consulting companies specialize in technology and communication. Finance, production, or staff capital. In addition, some companies are specialized in particular industries such as financial services, banking, the public sector, or health care.
Introduction to Firms
A consultancy firm provides a clients with expert advice at a fee. There are a growing number of consulting companies in Canada and the US that address a wide variety of client needs. Companies are extremely complex in their appeal and categories of clients, from the overall market plan to HR and execution. A great resource to look into when researching companies is Vault.com. Vault lists and rates consulting companies on a range of criteria, from culture to exit opportunities.
What is Networking?
Networking should not be regarded as a transactional exchange but as an opportunity to learn and communicate with others. "Connecting with another" doesn't have to be just be about work; it's generally a good idea to find commonalities in terms of interests or hobbies-which can create a more lasting feeling.
RCA and other student groups organize various activities each semester, inviting industry professionals and alumni to campus. Additionally, students may also set up coffee chats via LinkedIn messaging or via a shared connections. Ensure always to be respectful and courteous when you speak to someone who has taken time out of their day to answer your questions.
What is a Coffee Chat?
Coffee chats, particularly as a new student in the business world, are the best way to meet and communicate with people in different companies. They're usually 30 min talks over the phone or in person. Coffee chats can be set up by listing potential people's contacts to get to know them and then inviting them via e-mail or LinkedIn.
Please be appreciative and respectful of the person you are talking with for coffee. These people are busy so it's important to be respectful at the end of the conversation and remember to always be punctual, prepared and say thank you. Bad branding will include asking for inappropriate issues such as salaries or applying for a job so please avoid them!
What should I ask at a Coffee Chat?
Informed questions that show your interest in the company are good questions to pose. The more detailed the problem is usually the better. You may want to ask questions that you will not be able to answer on the company's website or from the company's hiring advisor (e.g. application deadlines), such as their career paths and why they choose a particular company personally. Change your comfort with the person you are having a coffee chat with when speaking topics. Remember to dress appropriately as well (i.e. do not turn up in gym clothes); casual business is typically a decent thumb rule but also a gauge depending on the meeting place.