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Get Ready For The Numerical Reasoning Test In Consulting Interviews

There is only one sure way to do well on a numerical reasoning test and that is to prepare. There is no quick fix, magic wand or pill that can be taken to enhance your reasoning skills - the only thing you can do is prepare, study and then prepare some more. Most top-tier management consulting firms require the numerical reasoning test for all of its qualifying job candidates. Below are some strategies and tips on preparing for this type of exam. The majority of numerical reasoning tests are timed to check for your speed and demand a sophisticated level of numerical understanding and a grasp of statistics and data synthesis. The numerical reasoning test offered by some of the top-ranked consulting firms like McKinsey, Bain or BCG test speed and power. The numerical speed questions involve basic types of arithmetic, such as division, percentage, ratios and fractions. Quick and accurate calculations must be made in order to score favorably on these types of questions. A calculator can
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Skills of a Top-Level Management Consultant

Business leaders and executives wonder as to what is the work of a top management consultant. How does a consultant's work affect the client companies and their strategies? And the textbook answer to this question is simple, and it is this: "All the leading global business management consultants do their work with great ease because they possess exceptional analytical skills." They are trained at leading business schools and build their experience by working hard on multiple (sometimes big-ticket) projects; in short, they possess such high-quality skills (because they work in competitive environments alongside of sharp minds) that make them eligible to offer their precious advices so that companies can grow. In this write-up, we are giving the low-down on the skills that must be present within every leading managerial consultant. The discipline and the motivation Successful managerial consultants can be highly motivated and can be interested in their work as they a
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How Companies Are Reducing Spend With Expense Management Software?

The concept of an organized, planned program should be the base for increasing profits through cost reduction. There can be no basis for determining and evaluating costs unless adequate records are maintained through a proper accounting system. Simply slashing any and all expenses un-methodically cannot be a justifiable answer to reduce cost. Instead, businesses must understand the nature of expenses and how expenses inter-relate with sales, inventories, cost of goods sold, gross and net profits. Reduction of specific expenses doesn't imply reducing cost, but you can achieve greater control by managing them effectively. Today, with businesses trying to get control over their expenses they need to try to get beyond the traditional ERPs. This is exactly what the CFOs of major organizations are trying to achieve. So why are CFO's looking to do that? Major reasons being: Reduce Spend and Stay within Budget Reduce Cost of Processing (A/P, Procurement) Reduce Occurrences of Ma
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How An International Management Consulting Firm Can Be An Indispensable Business Partner

Entrepreneurs and owners of small businesses typically rely on their own knowledge and resources in managing their businesses. Generally, their major concerns evolve around how they can get a return on their investments in the quickest and most efficient means possible. Yet, no matter how competent they are as business managers - they are able to meet deadlines, complete projects on time, and handle their staff well - they may still not be successful in realizing the highest potentials of their businesses. Usually, small business owners and entrepreneurs do not see the value of an intervention from a global business strategy consulting firm. Most of these businesses do not invest in these international management consulting companies because they simply do not realize the need and the value of such an intervention. Actually, intervention from global business strategy consulting firms can result in greater opportunities for their businesses. These firms are generally more knowledgeab
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Three Reasons Why Pharmaceutical Companies Need Specialty Management Consulting Firms

The pharmaceutical industry is undergoing a tremendous deal of change. Companies such as Pfizer and Lilly are facing substantial product patent expirations. Plus, company pipelines are insufficient to replace the revenues lost to patent expirations. Lastly, EU-based and US-based companies and US are shifting their organizations towards higher-growth markets in China, India, and other Emerging Markets, creating internal organizational turmoil in their home markets. As many companies realize, it is decreasingly feasible to simply "research" your way out of these problems. Part of the solution to these challenges is developing and executing what we broadly refer to as a Business Development and Licensing strategy (BD&L). This strategy would include any and all options for seeking and financing external partnerships, licenses, mergers, and/or acquisitions. Of course all multinational pharmaceutical and biotechnology companies have an BD&L group, usually led by a memb
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Report on Indian Paints Industry

1. OVERVIEW OF THE PAINTS INDUSTRY • The Indian paints industry is currently placed at Rs. 85.0 billion and has been showing consistent double-digit growth from 1991. The organized sector consists of 65-70% whereas the unorganized sector still controls a large portion of 30-35%. • The growth of the domestic paint industry is attributed to the boom in the housing sector and the strong growth in the automobile sector. The automobile sector has done well over past 10-years with an average growth of 7-8%. The auto sector is likely to grow at 8-10% due to healthy growth in 2-wheeler and car segments. However, the volume growth in the paint industry may not be in line with the auto sector growth, as the quantity of paint per vehicle is declining over a period, due to continuous innovations. • Around 70% of the domestic paint industry revenues come from the decorative segment, whereas the industrial segment constitutes around 30%. In FY05, the manufacturing sector has shown good activi
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