Management Consultancy

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Management Consultancy

A Feasibility study of business is the evaluation of the practicality of a project. It aims to assess the strengths & weaknesses, opportunities & threats of an existing business or a future venture. In simple terms, it assesses the cost vs. value creation of a proposed project. This is normally done before the project development & implementation. Thus a feasibility study lays the foundation upon which your project plan resides.
An effectively crafted feasibility study includes a historical overview of the project, a detailed description of the product or service offered, an analysis of financial and operational aspects, market research, and assessments of legal and tax obligations. Success in any business is primarily defined by the return on investment which means the project should generate enough returns to justify the investment.

Why do businesses need Management Consultants?

Management consultants enable the entities to understand and fill in the gap existing in the business. As consultants we have expertise and exposure in various areas that businesses specifically require and which the businesses may not have internally. Thus without disrupting the day to day running of the business, companies can improve and expand.

What do Management Consultants Do?

As management consultants, we carry out the following functions:

  • Advisory to senior management on a specific project or on the structure and practices of the firm.
  • Perform a review of current procedures or scenarios, recommend for necessary improvements and guiding on an action plan for implementation.
  • Advise on such other key managerial decisions through statistical and organizational analysis.

General Approaches Adopted:

Top-Down Approach

This means the problem solving begins at the “top” or with the highest-level. From there, the problem is broken down, identifying and developing the elements the next level down, with special focus on the critical or vital few drivers of impact. An overview of the system is formulated without going into detail for any part of it. Each part of it then refined into more details, defining it in yet more details until the entire specification is detailed enough to validate the model.

This is the opposite of the top-down approach and, as the name implies, begins with the tactical, granular and specific details. In this case, each part of the system if first identified and analyzed and then consolidated to get the overall picture.
Depending on the specific requirements entailed by the business, appropriate methods and techniques are adopted to best suit the situation.

What are the various stages in a Management Consultancy Services?

As solutions and guidance are given on a specific issue, the following stages are part of every assignment:

  • Problem Identification –
What problem or situation are we trying to solve?
  • Data Analysis –
Analyzing the data collected to draw conclusions.
  • Approach –
The approach that will provide the optimal result.
  • Advice –

Recommending adequate course of actions based on the analysis of data collected.

  • Data Collection –
Collecting all the data, information and documents that will give us the detailed picture of the issue.
  • Implementation –

Setting up processes and systems based on the recommendations.

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