Experiential / Reality-based Learning / November 1, 2010

MBA Consulting Forum

In early November 2010, the atrium of Van Munching Hall was packed with almost 200 Smith MBAs and alumni who came to attend the 12th Annual Smith Consulting Forum, the largest event held by any professional student organization at the University of Maryland’s Robert H. Smith School of Business. Organized by the MBA Consulting Club and the Office of Career Services, this year’s forum focused on the practice of “consulting in an unpredictable marketplace.”

Vivian E. Riefberg, Senior Partner of McKinsey & Co., gave the keynote address and discussed prospects for employment and the economy, and what firms are doing to cope with what she called “economic discontinuities” that change the nature of industry dynamics. Riefberg’s keynote was followed by two practitioner panels about “Assisting Clients with Emerging from the Great Recession” and “Consulting Skills Needed in Times of Change.”

Puja Singhal, MBA ’11, Co-President of the MBA Consulting Club, said that the purpose of the Consulting Forum was to provide the Smith community with deeply enriching inward and outward perspectives of what it means to be a consultant in uncertain and dynamic environments. Panelists – who included a slate of Smith alumni, from A.T. Kearney, Booz Allen Hamilton, Deloitte, Censeo, IBM Business Consulting Services, and PricewaterhouseCoopers – provided rich descriptions of what clients are looking for right now and how consultants can build their own portfolio of skills.

According to Riefberg, dealing with discontinuities requires a different approach than business as usual. Firms need to be prepared to redefine core businesses, refocus their portfolios, and build entrepreneurial segments. To be aligned with these client needs, consultants need to know how to ask the right questions, understand what is and is not uncertain, and create robust strategies for business development. Riefberg further noted that consultants usually work with “incumbents” who have been dominant in their industries and may be slow to adopt fundamental changes. Therefore, it is more important than ever for consultants to build strong trust-based relationships with their clients if they hope to convince them to make strategic change.

An Bui, MBA ’11, who interned as a federal consultant at CSC for her summer internship, most appreciated the importance Riefberg put upon building client relationships during times of change. “You have to balance the people part and the analytical part,” Bui said. “You can come up with the best plan in the world, but if you can’t convince your client of the value or benefits of the plan, then you haven’t necessarily delivered.”

Andrea Morris, expert industry career advisor of Smith’s Office of Career Services, said that the forum’s keynote address encouraged students to “think creatively about flexibility and specialization” as they construct their careers and that “The forum is an excellent opportunity for students to network with practitioners.” Saadat Khan, MBA ’11, co-president of the MBA Consulting Club, echoed Morris’ sentiment and said that the strong presence of commercial consulting firms is especially important to provide opportunities for international students who are not able to work in federal consulting.

The MBA Consulting Forum is as good an opportunity for Smith alumni as it is for current students. “The Forum is a terrific opportunity for the Smith community to stay connected, learn about the evolving consulting industry, and forge new relationships,” said Kimberly Sullivan, EMBA ’10, who set aside time as a design consultant at OPX Global to attend.

According to Hugh Courtney, vice dean of the Smith School, now is “a great time to be a consultant.” Noting that difficult decisions are composed of irreversibility, uncertainty, and time-sensitivity, Courtney contends that there is “never more a need for wise counsel” as there is now.

Stephen Huie, MBA Candidate ’10, Smith Media Group 
Photos by Yisheng "Eason" Kao, MBA 11

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About the University of Maryland's Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

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