ELI5: Explain Like I'm 5

Management consulting

Management consulting is like going to the doctor for your business. Just like how a doctor helps you figure out what's wrong with your body and makes a plan to make it better, management consultants help businesses figure out what's not working well and make a plan to improve it.

Let's say you have a lemonade stand and you're not making enough money. You might ask a management consultant for help. They would come to your stand and look at everything you're doing. They might watch how you make lemonade, how you price it, and how you market it.

Then, they'll give you advice on what you can do better. They might suggest using better quality ingredients, changing your prices or creating different deals, and finding new ways to advertise your stand.

They aren't fixing the problems for you, but they're giving you lots of ideas and ways to make your business better. Management consultants are like helpers who give businesses ideas and help them make plans to reach their goals.