Research consultants lead and structure the research and analysis of individual studies that form deliverables for consulting firms. They work closely with Fortune 500/Global 1000 companies and smaller firms to determine the strategic and operational challenges they face. Research consultants strive to identify and develop the best solutions to these important business challenges, and then teach these solutions to their clients.

In general, strategic research consultants must have proven analytical skills and a passion for research. Successful profiles for a research consultant include

(1) PhDs (postdoctoral professional experience in research, consulting, or academia is highly desirable);

(2) MBAs who are interested in research problems rather than day-to-day management problems;

(3) JD: JD with business experience or legal writing experience extremely desirable;

(4) strategy consultants from major companies; and

(5) policy analysts who have a proven ability to perform original economic and financial analysis of a high professional level and who can persuade clients to take their position on a wide range of economic and financial policy issues.

Although different firms seek strategic research consultants with different backgrounds, they share some common attributes. Most of these tasks will require the consultant to have rigorous intellect, product creativity, and experience in management and teamwork.

Intelectual skills

· Strong inductive and deductive reasoning skills.

Experience in hypothesis-based research.

Insight generation: the ability to generate ideas that have an impact.

· Basic quantitative facilities: relevant courses or work experience.

Creation of deliverables

· Strong writing ability: Posted candidates are highly desirable.

· Terrain range capability – evident through investigative experience.

· Teaching and framing: experience or ability to teach and transmit ideas. Candidates who have been teaching assistants in graduate classes are desirable.

· Effective communication skills.

Management and teamwork

· Skills in project management.

· Experience/ability to attract clients.

· Experience/ability to work in a team. Candidates with extensive military experience. team projects in graduate school are desirable

Consultants will find that the impact they have on their clients translates directly into the impact their work will have on their career progression. It’s common for companies to extend either second hires or even job offers to consultants whose work they find valuable. With each assignment, the consultant must strive to add value and have an intentional, positive impact on their clients and their business goals.

Client companies must also do their part. Intellectually curious consultants can easily get bored. Therefore, clients must provide a dynamic and intellectually challenging work environment with intelligent and creative people. They must provide growth in responsibility while maintaining a balanced lifestyle and sense of fun. One of the best managers I’ve ever had in my professional career used to ask me and the rest of the staff, “Are you having fun?” That question seemed to sum up a number of good consulting traits: did the staff member enjoy his work and actually find something fun in his work?

Strategic research consultants are sometimes needed for global assignments, giving the consultant the opportunity to undertake international travel paid for by the client. That’s the best way to experience international work: when someone else foots the bill.

Typically, the strategic research consultant will work on-site with the client throughout the entire life cycle of a project, from strategy development through implementation. Working closely with clients helps the consultant understand how the client sees the project and what information they receive. With these client insights, the consultant can more easily monitor the progress and quality of the project deliverables and facilitate their subsequent implementation. Clients don’t want to receive esoteric reports that sit on the shelves and are never read. Instead, they want to achieve tangible results from the consulting assignment.

These positions require skills in analyzing and developing financial models using spreadsheets and database management software. Assignments will vary, but are likely to cover many aspects including strategic planning, due diligence, change management, business review, project management, global purchasing studies, etc. Consultants sometimes move into a line management role with their clients after two or three years.

One area that strategic consultants practice in is due diligence research that supports mergers and acquisitions (M&A) activity. For that reason, the Big Four accounting firms have created M&A strategy groups, which combine the expertise of strategy consulting with the high-growth M&A and private equity market. These groups often have the culture of a business strategy boutique specializing in mergers and acquisitions.

Strategic M&A research works with private, banking and corporate clients to assess the business potential of acquisition targets and provide clear and actionable strategic recommendations. The core product is business due diligence from the beginning to the end of the M&A life cycle. Commercial due diligence provides potential investors with an assessment of the key strategic issues and opportunities of a transaction, including market attractiveness, competitive dynamics, customer relationships and cost position, and thereby helps to investors to understand how they can create value.

Given the importance of M&A activity to the future direction of the company, it is not surprising that companies seek to fill these consulting positions with seasoned professionals who have the rigorous intellect, product/deliverable creativity, and management acumen to do the work.