The Complete Guide to Practice Management Consulting covers a wide range of topics from accounting to bookkeeping. Taking a practice management consulting course is a good idea if you want to see your business grow financially and increase employee satisfaction. In addition to accounting and bookkeeping, you will also learn about the different key management models. Here’s a quick review of these models.
Key Management Models
The Complete Guide to Practice Management Consulting contains a thorough description of the key management models used in consulting and explains their application. The book will help you make a decision on which model to use when working with a client. You can also use this book as a quick reference manual when faced with a new problem. Although it is not the only book on management models, it is one of the most thorough and valuable.
The Professional Skills Test, or PST, requires you to answer questions relating to your core skills in consulting. The PST consists of three business cases, one on client interaction, one on problem definition and solution, and the third on implementation. Each case includes a variety of real-world consulting issues. The questions are designed to test your knowledge and ability to apply your skills to a real-world situation.
The PST is divided into three business cases, each with about eight to ten questions. Each issue contains data presented in charts and tables, as well as descriptive text. Each question focuses on specific data, which requires you to apply critical thinking and a balanced approach between accuracy and speed. Luckily, McKinsey includes several mental math drills that will help you prepare for these questions.
The PST is comprised of three recent, official practice tests, and you must complete them all in the time allotted. The questions are similar to those found on the McKinsey PST, and the PST is based on real McKinsey work. While McKinsey PST is not required for admission, it is a valuable reference for those who are seeking a career in management consulting.
Questions In McKinsey’s PST
The questions in McKinsey’s PST tend to be math word problems or data interpretation questions. They provide the answer in the text but require critical thinking to come to the correct answer. Time is limited, and you must balance speed and accuracy. To prepare for the McKinsey PST, follow these tips. Practice the questions beforehand. Using easier numbers helps you to speed up the computation.
The McKinsey PST contains graphs and charts that will help you analyze the data in a stepwise fashion. First, try to identify the title of each exhibit. Next, make sure you focus on the questions that seem different and relevant to your practice. Next, ensure that you understand the why behind each display. Then, choose the answers that you feel have the most value to your practice.
One of the most helpful tips in the book is to practice what you teach. By studying the book, you will be well-prepared for a PEI interview. The PEI interview is an intense ten-minute session that requires you to tell a story about yourself and your background. The interviewer will drill down to extract insights about your personality and soft skills. During the interview, the interviewer may ask you why you want to become a consultant or work for McKinsey. In these cases, make sure to provide valid and authentic reasons for your choice. In addition, prepare by researching the company and industry you wish to join. This will help you answer the question of fit.