Finance You may ask what this is?
The Management Consultancies Association (MCA) defines management consultancy as:
'the creation of value for organisations, through the application of knowledge, techniques and assets, to improve performance.'
A management consultant is an independent person with experience in management and the ability to provide a wider expertise than is available within a single organisation.
Management consultants are primarily concerned with initiating and implementing technological, organisational and behavioural charges. Their work involves providing objectives appraisals where it is often easier for an expert outsider to see the broader picture and reorganise the long-term requirements of an organisation.
Typical work activities
A consultant often works with a senior management as well as with employees at all levels. A newly-hired graduate will start in a supporting role in team projects and will be involved in such activities as;
- taking responsibility for gathering and collecting data;
- processing figures to be presented by senior colleagues to the client's senior management;
- interviewing clients and other individuals;
- researching external sources, such as the internet or other relevant databases.
Work activities for management consultants typically involve:
- assembling and analysing all available data, insuring that they understand the nature of the problem;
- considering the range of possible options;
- developing specific recommendations and conclusions for the client. Conclusions should be objective, logical and based on facts have been carefully collated and verified.
- recommendations, however, are subjective and based on the consultant's background and experience;
- extracting information by asking relevant questions to ensure that important facts are not overlooked;
- establishing priorities;
- clarifying issues;
- reviewing assignment progress
New graduates are commonly required to work closely with, and present to, managers within the organisation. The degree of team versus individual work will depend on each practises style of operating and on the type of consulting. The work may be product-orientated, requiring technical expertise or specialist knowledge to advise on and/or implement a system; or process-orientated, coaching on organisational management. Consulting is essentially entrepreneurial in nature and project-based.
We have experienced consultants, conducting the above for many companies at the moment, may be you're company needs the same to turn around the figures.
