Q1. What is your vision as a professional for next 5 years?
Ans. In order to accomplish my long term (12-15 years) vision which is to be a successful entrepreneur, I see myself in next 5 years in a firm leading the team/ running a show with some senior guidance carving out a clear niche for myself and my team
Q2. What is the difference between the work culture at a consultancy company and Industry?
Ans. Difference could be elaborated in the following manner:
| | Industry | Consultancy |
| Professional Journey | More of following someone rather than setting precedence | You explore and make your own path |
| Work Content | - Repetitive nature of work say only secretarial kind of work
- Execution mode | - Client oriented, thus different work in the medium term & demands new thinking. - Discovering mode, say tailor made assignments as per the client’s latest requirements |
| Reporting relationships | The work is being done according to the company’s policy and reporting is centralized to the immediate manager | The consultants bring “best practice” solutions and methodologies just to grow the business and thereby growing themselves |
| Rewards | Short term rewards (e.g. year end bonus) based on ABCD grading of employees | Long term incentives like becoming a partner are present in these set-ups, for distinctive talent |
Q3. Where do you see India in the regime of FDI in next 5 years?
Ans. Let me start with past 5 years in the growth of FDI. There has been good and bad things about FDI in the past 5 years.
Good are;
a. India’s GDP Growth
b. Large Pool of Skilled manpower
c. Growing Consumer Market
d. Fastest Growing Economy
Bad are;
a. Recent licensing issues in telecom space and series of corruption cases in real estate financing
b. Slow global economic recovery
c. Land Acquisition issues in India
d. Inflation and other structural problems of India making FDI less attractive
With the above points keeping in mind, I think India may not witness high FDI in next 5 years unless the corruption and other recent issues be cleared or sorted out
Q4. What is the difference between Incorporation of a company and setting up of a business of a company?
Ans. Incorporation of the company is related to the registering the company as per Companies Act, 1956, according to the needs of the client. While setting up of a business is a wider term which includes pre incorporation (making business idea and plan), Incorporation and execution of business plans post incorporation.
Complete Business Set up package includes all the activities right from establishment of business entity till the completion of all necessary post set-up activities
Q5. What are the responsibilities of an employee in a consultancy company?
Ans. My answer is more from a relatively new consultant (<1 year in consulting set-up) standpoint:
1. Gather information: Each employee must be familiar with the professional standards, company’s policies and external information that apply to his or her specific job function / is required to carry out the critical parts of the job. This includes participating in appropriate training sessions, taking the time to read, seeking further information and consulting with others when necessary
2. Client Request Process Management: Be a part of a client team starting with understanding of client needs to research; designing the solution offering for the client to syndicating with the senior leaders (internal) until the solution is finally communicated to the client
3. Surface the Issues: Employee must speak up if something does not seem right. He/She should direct his/her concerns to the appropriate resource in firm and offer suggestions for improvement
4. Client Relationship Management: Having known the client – it’s important to develop and further strengthen the relationship for future engagements with the client. So, one should be pro-active in doing that
Q6. How do you predict the role of social networking sites in business development of a consultancy company?
Ans. Social Networking sites are essential tools in the growth of businesses of a consultancy company as it manages the professional identity, helps in building and engaging within the professional network. It helps accessing knowledge, insights and business opportunities
Q7. Whether Consultancy Company should adopt the policy of “Client is God “or should dictate its own terms on client?
Ans. Answer to this Question is two-fold.
First part is understanding the clients’ needs (complex business challenges/ problems)
Second fold is the multi disciplinary approach with deep practical study with the clients jointly to work on the drivers of the challenges faced by him/her and then, develop a solution for the client
Neither of the above policies be followed independently. Consultancy firms working with the clients jointly should understand and appreciate the value of each other. Firm’s absolute commitment to their professional independence and integrity would definitely help maintain credibility with the clients
Q8. Express your strength in detail as a professional and how you will be able to prove yourself as a growing tree of the firm?
Ans.
1. Team Player:
I find myself a strong team player to be fitted in each line to contribute significantly to the team’s output
2. Dedication:
Truly dedicated towards assignments as well as company’s goodwill
3. Optimistic:
I find myself having positive professional outlook in workplace to complete the task, even those that I may dislike, with a good attitude
4. Time Efficient:
I understand the importance of time sensitivity and able to manage my workday accordingly
5. Quick Learner:
My greatest strength is probably my ability to learn very quickly and to retain well. I’m a fast learner. I can learn things in a few days that often take other people several months.
My strengths might sound very widely known among young professionals, but I really own them when put even in pressure situations which help me standout as distinctive professional. I assure you that, with above strengths; I can add one more branch to the growing tree of the firm and prove to be valuable asset for the company.
