Management consultants play an integral role in helping organizations maximize their performance, increase the productivity and improve processes. Consultancy is popular among businesses which needs short-term expertise in a particular area. As a result of their exposure to and relationships with numerous organizations, consulting firms can deliver the best solutions, practices and standards that any organization needs. Management consultancy often involves working with senior management to help them plan the future of the organization keeping the core values intact despite planned expansion and change.
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:
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 service?
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?
- Approach – The approach that will provide the optimal result.
- Data Collection –Collecting all the data, information and documents that will give us the detailed picture of the issue.
- Data Analysis – Analyzing the data collected to draw conclusions.
- Advice – Recommending adequate course of actions based on the analysis of data collected.
- Implementation – Setting up processes and systems based on the recommendations.
Thus having the right solutions and processes allows organizations to rethink their priorities, scale up their operations and be equipped to adapt to the fast changing business environment.
What Elevate can do for you?
Pragmatic and effective solutions
Our team offers tailor-made, effective and implementable solutions that enables our clients to run and grow their businesses efficiently. We work with organizations to understand their business requirements , the present and future business coordinates.
- Developing Management Information Systems(MIS).
- Designing and implementing Budgetary Control Systems.
- Feasibility studies for new projects and expansion schemes.
- HR Personnel services.
- Acting as consultant/representative for various issues including drafting of required legal documents.
- Business Gap Analysis and recommendations.