FTMBA 2020_II WORKSHOP - Strategy Consulting

Working as a strategy advisor for Fortuna Düsseldorf – the Strategy Consulting Workshop.

Description

The Strategy Consulting Workshop aims to introduce MBA students to the world of strategy consulting through a hands-on consulting experience with local Bundesliga club Fortuna Düsseldorf. We will give a brief and very basic introduction to consulting and look at football as a growth industry. We will introduce basic conceptual frameworks and theories from management strategy and consulting to help students structure their work.

Students will form small consulting teams and work on tasks that are currently highly topical for Fortuna Düsseldorf and will help them to increase their revenues which is a necessity for them to stay competitive in the Bundesliga long-term. Therefore, students will immerse themselves in strategic analyses with the tools and techniques learned in the course. They will receive light support and guidance from McKinsey & Company strategy consultants who are currently pursuing their PhD at WHU. Eventually, the teams will present their findings to the client in Fortuna's stadium. The course intends to provide experiential value by creating a consultant-like setting over the course of the workshop. This means that the amount of head-on teaching will be limited and the focus is on working in teams. Apart from the 2 days of class, we expect an additional individual workload of 15 to 25 hours where students will develop their ideas further through research, analyses, and synthesis of results.

The course is mainly targeted at students that had none or limited exposure with consulting so far. Of course, we also invite students with consulting knowledge or experience, particularly if they are interested in working on a real-world project with a Bundesliga club (please manage expectations with regard to consulting toolkit accordingly, though).

Teaching content

After a general introduction to the consulting industry (e.g., industry structure, key players, consulting focus, ownership structures, career paths), we structure the workshop into sequential content modules that take students step-by-step through the problem-solving process of strategy consulting firms. We briefly discuss consulting tools and frameworks in class before students put them into practice for experiential learning. Each team will have the chance to discuss interim results, receive feedback, and refine their proposal for the client along the content modules.

Theories

Sports Economics
Growth Strategy
Business Modeling
Diversification and Portfolio Theories

Interviewing Session (optional)

In addition to the Strategy Consulting workshop, we are offering an interview training. This is optional, i.e., students do not have to participate in this session in order to complete the Strategy Consulting workshop. We will ask students in due time whether or not they would like to participate and will – in case of open seats – allow other students to participate in this session.

How can you be successful in consulting interviews? How do you solve case studies? The team from WHU’s Center for Sports and Management together with McKinsey & Company will give you answers to these questions as well as tips and tricks for mastering interviews.

What is the difference between an experience interview and a problem-solving interview? What qualities are consulting companies looking for in a candidate? Experienced McKinsey consultants will give their personal insights into consulting interviews and share personal experiences. If desired, some students will get the chance to perform mock case interviews with the McKinsey consultants in class. The session will also provide ample room for Q&A.

If desired, students can participated in an optionalinterview training. Students will learn the different types of interviews at consulting firms and how to perform well in these types of interviews. Students can also get first hand experience from McKinsey consultants.