Bsmrstu mgt11-ranjit-consultancy final

Done by: Emran, Rano, Kanij, Roni,Tama, Rayhan& Hossain. MS 1st Batch, BSMRSTU.

Management Consultancy

MGT: 505

Total Course Note

Lawfully and Ethically Claimers of this Paper are:

Al Emran

Kanij Fatema

Ranjit Biswas

Tama Saha

Roni Mollik

Rayhanul Islam & Abul Hossain


Chapter-1: Introduction

Q: 1: What is Consultancy?

Consultancy is a professional practice that gives expert advice within a

particular field, especially in business. And who gives this advice is called Consultant.

Consultancy can be viewed either as a professional service, or as a method of providing

practical advice and help. At the same time, it is also a method of assisting organizations and

executives to improve management and business practices, as well as individual and

organizational performance. The method can be, and is, applied not only by full-time

consultants, but also by many other technically competent persons whose main occupation

may be teaching, training, research, systems development, project development and

evaluation, technical assistance to developing individual, organizations, countries, and so on.

# Management consultancy is an advisory service contracted for and provided to

organizations by specially trained and qualified persons who assist, in an objective and

independent manner, the client organization to identify management problems, analyze such

problems, recommend solutions to these problems, and help, when requested, in the

implementation of solutions.

Management consulting is the provision of independent advice and assistance about the

process of management to clients with management responsibilities. #

Q: 2: What are the Roles of Consultants?

A consultant is a professional who provides expert advice in a particular area

such as security, management, education, accountancy, law, human resources, marketing,

public relations, finance, engineering, science or any of many other specialized fields.

The Role of a Consultant

The consultant's primary role is to assist individual or organization with certain areas of

completeness work. There are generally four categories of work for which Client‟s want to

hire the services of a consultant or a consulting team:

1. Overall Guidance: The consultant gives overall guidance to his/ her clients for his/ her

problem, problem analysis, finding solution and implementation them.


2. Information Gathering: The consultant designs and gathers data during the information-

gathering phase. Consultants can be particularly useful in collecting qualitative data through

interviews and focus groups, since their neutral position with the organization can lead to

more honest responses from internal and external stakeholders.

3. Cultural Competency/Diversity Training: The consultant conducts diversity trainings to

create a more inclusive culture and help stakeholders become more aware of how the

organization may be creating an unwelcome atmosphere for diverse communities. In this

instance, Client may want to use one consultant or a consulting team for all of the trainings.

4. Evaluation: The consultant creates an evaluation plan to measure the efficacy of trainings

and progress of inclusiveness initiative.

Q: 3: How To Become a Business Consultant?

A consultant's job is to consult. Nothing more, nothing less. There's no magic formula

or secret that makes one consultant more successful than another one. But there is some

questions which answers will help one to be a good consultant. These are:

What certifications and special licensing will I need?

Depending upon the profession, one may need special certification or a special license before

starting as a consultant. For operating this business Consultant need to register as a

professional consultant before starting the business.

Am I qualified to become a consultant?

At first it need to be sure that one has ability or quality to give expert advice as a consultant.

Without achieving this quality no client will hire him\her as a consultant. If one want to be a

computer consultant, for example, make sure he/she is up to date in the knowledge

department with all the trends and changes in the computer industry.

Am I organized enough to become a consultant?

It is important to organize oneself as a consultant. For doing this business consultant need to

plan his/her day, need to be expert in time management.

Do I like to network?

Networking is critical to the success of any type of consultant today. Informal contacts with

other consultants and managers are the simplest form of networking. It helps to spread the

business easily.


# Networking

In the absence of the professional environment and resources of a large firm, a single

practitioner can draw a lot of benefit from networking with other professionals who have

similar concerns. Informal contacts with other consultants and managers are the simplest

form of networking. Association work comes next. Associations are a useful source of

contacts, information and learning opportunities. An active participant in an association can

suggest and help to start new association activities and recommend topics as themes for

meetings, committees and workshops.

Business alliances with other independent professionals can be helpful not only for finding

new work and delivering projects that exceed the possibilities of one consultant, but also for

exchanging experience and learning from others. There is no networking without reciprocity:

while you want to learn from others, they are keen to learn from you. They will give if you

give. #

Have I set long-term and short-term goals?

If one‟s goals do not match up with the time and energy it takes to open and successfully

build a consulting business, then reconsider before making any move in this direction.

Q: 4: Mention Some Consulting Business\firms. / Types of consultants.

Accounting

Advertising

Auditing

Business

Business writing

Career counseling

Communications

Strategy Consultant

The term Strategy Consultant is used to describe consultants who operate at the highest level

of the consultancy market, with focus on strategic topics like corporate and organizational

strategy, economic policy, government policy and functional strategy. For this reason,

strategy consultants generally carry out work assigned by top managers, like CxOs, directors

Computer consulting

Editorial services

Headhunter firms

Gardening

Human resources

Insurance

Marketing


and senior managers. Their focus lies more on quantitative/analytics skills, and their job

description revolves more around giving advice than overseeing implementation.

Management Consultant

Management consultants, in practice also known as business consultants or organizational

advisors, are consultants who focus on all sorts of organizational concerns from strategy to a

variety of elements within management. Management Consulting is a collective term used for

all services that fall under Strategy Consulting, Operations Consulting and HR Consulting.

Operations Consultant

Operations consultants are consultants who help clients improve the performance of their

operations. Consultancy activities in this segment vary from advisory services to hands-on

implementation support, for both primary functions (e.g. Sales, Marketing, Production, etc.)

as secondary functions (e.g. Finance, HR, Supply Chain, ICT, Legal, etc.).

Financial Advisory Consultant

Consultants who operate in the Financial Advisory segment generally work on questions that

address financial capabilities, and, in many cases, also the analytical capabilities within an

organization. Consultants specialized in forensic research and support disputes also fall under

the Financial Advisory segment. The majority of financial consultants work for the large

combined accounting and consulting firms, or else for niche advisory offices.

Human Resource Consultant

HR consultants help clients with human capital questions within their organizations and / or

with improving the performance of the HR department. Chief topics central to the job

description of HR consultants are, among others, organizational changes, change

management, terms of employment, learning & development, talent management and

retirement.

IT Consultant

Technology consultants, also known as IT, ICT or digital consultants, focus on helping

clients with the development and application of Information Technology (IT) within their

organization. IT consultants focus on transitions (projects) in the ICT-landscape, contrary to

regular IT-employees, who work on day-to-day IT operations (so-called „business as usual‟

activities).


Chapter 2: Consultant Client Relationship

Content of formal and informal Agreement

Maintaining Client Confidence and support who is the client?

Creating and maintain sound relationships

Problem diagnoses and Recommendation

Content of formal and informal Agreement:

The situation in which people have the same opinion, or in which they approve of or accept

something. A meeting of minds with the understanding and acceptance of reciprocal legal

rights and duties as to particular actions or obligations, which the parties intend to exchange;

a mutual assent to do or refrain from doing something; a contract.

The writing or document that records the meeting of the minds of the parties. An oral

compact between two parties who join together for a common purpose intending to change

their rights and duties.

In order to reach an agreement, parties need only come to a common understanding as to their

relative rights and responsibilities, what is often termed a “meeting of the minds.”

An agreement is not always synonymous with a contract because it might lack an essential

element of a contract, such as consideration.

Agreement Contract

Definition An arrangement (usually

informal) between two or more

parties that is not enforceable by

law.

A formal arrangement between two or

more party that, by its terms and

elements, is enforceable by law.

Validity based on Mutual acceptance by both (or all)

parties involved.

Mutual acceptance by both (or all) parties

involved.

Does it need to be

in writing?

No. No, except for some specific kinds of

contracts, such as those involving land or

which cannot be completed within one

year.

Consideration

required

No Yes

Legal effect An agreement that lacks any of

the required elements of a

contract has no legal effect.

A contract is legally binding and its terms

may be enforceable in a court of law.

Formal and informal Agreements:

A formal contract is a contract where the parties have signed under seal, while an informal

contract is one not under seal. A seal can be any impression made upon the document by the

http://www.diffen.com/difference/Affect_vs_Effect


parties to the contract. This was traditionally done in wax stating the intentions of the parties

to be bound by the contract.

Formal Agreement Informal Agreement

Formal agreement is happened under a

condition of formal condition where third

party is presented and both party can suit

each other in case of disrupt of conditions.

Informal agreement is happened in the

circumstances of personal agreement which

can be said as “Gentleman Agreement”

The parties have signed under seal No seal exist

It must be written form. It can be written or oral

It must be legal eye of law There is no matter of law in case of

agreement which is informal.

A formal arrangement between two or

more party that, by its terms and

elements, is enforceable by law.

An arrangement (usually informal) between

two or more parties that is not enforceable by

law.

Ex: Business Agreement

Problem Diagnoses and recommendations for garments industry?

To diagnoses of the problem of garments industry we use primary data and secondary data

1 Primary data

Personal interview

Questionnaire

Observations the working

2. Secondary data

Internet

Newspaper

Magazines

Garment Industries in Bangladesh has the following problem:

Health and safety is not available

Insufficient training facilities

Poor safety

Workplace harassments

Low wage rate

High turnover rate

Lake of managerial knowledge

Failed to create brand name

Job insecurity


Lack of proper exit gate

Poor accommodation facilities

Political crises

Insufficient loan facilities

Recommendations for the garments industry:

Maintaining Client Confidence and support who is the client?

Client:

Strictly defined, a customer is someone who buys goods or services from a store or business.

The word "client" can also mean "customer," according to the American Heritage

Dictionary, but it has a separate definition as someone who receives professional services.

Maintaining client confidentiality:

Client or customer information is generally held under legal and ethical obligations of

confidentiality. Information provided in confidence should not be used or disclosed in a form

that might identify a client or customer without his or her consent.

Support Who is the client:


Confidentiality Sand Maintaining Client Files

I. Policy

[Name of Program] will ensure the confidentiality of each client by following all regulations

regarding client access, staff access, consent to release information, storage and disposal of

resident files.

II. Procedure

A. All client information will be kept in a locked file in a secured room.

B. The following program staff will have access to client files: [appropriate staff positions]

C. No information will be shared with any individual outside the agency without the written

consent of the client except in the following circumstances:

i. Following the order of a court of appropriate jurisdiction;

ii. In case of a medical emergency, staff may disclose to medical personnel information

necessary for the purpose of treating a condition that poses an immediate threat to the health

of the client or some other person, (e.g. a child has swallowed medication prescribed for a

resident and the medical personnel need to know type and dosage);

iii. If there is a crime committed on the program property, the program staff may release

information directly related to the commission of the crime or threat to commit such crime;

iv. If an officer identifies him/herself as being in hot pursuit of a criminal, staff will allow the

officer to enter the building to search for the suspect. If the officer does not identify

her/himself as being in hot pursuit, staff will request a court order. If the officer does not have

a court order, then admission to the building will be denied.

D. A client may have access to his/her file in the presence of a case manager with 24-hour

notice and under the following circumstances:

i. Information generated from outside the program may be removed;

ii. Information deemed to be harmful to the client may be removed.

E. All files will be destroyed after 5 years of discharge from the program.

F. Before disclosing any information regarding a client or applicant of the program, staff will

obtain written consent for such disclosure. The consent shall include:

i. The name of the program or person permitted to make the disclosure;

ii. The name of the program or person to whom the disclosure is being made;

iii. The name of the client or applicant;


iv. The purpose of the disclosure;

v. How much and what kind of information is to be disclosed;

vi. The signature of the client/applicant. If the same is incapacitated, the consent will be

signed by the parent, legal representative or conservator. If the release is signed by someone

acting pursuant to a court order or other legal document, a copy of the order or document will

be attached to the consent form;

vii. The date the consent was signed;

viii. A reasonable date, event or condition upon which the consent will expire if not revoked

before.

3. Creating and maintaining relationship:

Tips for consultants

1. Inclusive planning

2. Be clear and honest about expectations and boundaries

3. Clear, regular and timely communication

4. Discuss reporting requirements early on

5. Be considerate

1. Inclusive planning

Taking the time up front to hold thorough and thoughtful beginning and planning meetings

with your client always results in a more efficient and stress-free evaluation for all involved.

2. . Be clear and honest about expectations and boundaries

At the start of a new contract ensure that both party‟s expectations of responsibilities, roles,

communication, and deliverables are crystal clear and aligned.

3. Clear, regular and timely communication

Always respond to emails and communications in a timely way, even if just to say that a

more complete response will be provided when you are less busy. Regular (weekly) project

progress updates emailed to the client are worth adopting, irrespective of how much contact

you may or may not have had with the client in that time period

4. Discuss reporting requirements early on

To ensure clients are happy with your reports it is best to agree on a structure before you start

writing. It is also helpful to ask if they have a style guide or preference for reporting styles

and, if not, provide a sample of different types of reports to help them determine what type


would work best for them. It is also worth agreeing on how you will receive and respond to

feedback on the first draft

5. Be considerate

The final tip is pretty obvious but it is worth spelling out. Building a strong relationship with

your client is like building any other relationship – it is much easier if you are considerate.

Show your gratitude for being awarded the work, always remain professional and positive, be

punctual, meet your deadlines, practice active listening and show a genuine interest in your

client.

Problem diagnoses:

Diagnosis is the first fully operational phase. The purpose of diagnosis is to examine the

problem faced and the purposes pursed by the client in detail and depth, identify the factors

and forces that are causing and influencing the problem, and prepare all the information

needed to develop a solution to the problem. An equally important aim is to examine the

relationships between the problem in question and the global objectives and result s achieved

by the client organization.

• Discover

Gather and review existing information

Reach an agreed understanding

• Investigate

Create and execute a diagnostic data capture plan

Analyse the results and repeat if necessary

Identify root cause

• Fix

Translate diagnostic data

Determine and implement fix

Confirm root cause addressed

• Recommendations

• A suggestion or proposal as to the best course of action, especially one put forward by

an authoritative body

• A suggestion that something is good or suitable for a particular purpose or job:


• I bought this computer on John's recommendation (= because John told me that it was

good). I got the job on Sam's recommendation (= because she told her employers that

I was suitable for the job).

• Advice telling someone what the best thing to do is: The report makes the

recommendation that no more prisons should be built

• Example of Recommendations:

• Health and Safety Recommendations

All employers are legally obliged to provide a safe workplace. The best way to ensure

you are meeting your obligations is to conduct regular risk assessments and offer a

programme of health surveillance appropriate to the needs of your business.

• Legislation

The Health and Safety at Work Act 1974 states 'it is the duty of every employer, so far as

is reasonably practicable, to ensure the health, safety and welfare at work of all

employees.'

Chapter-3: Marketing of Consultant Services

Direct Marketing

Direct marketing is an advertising strategy that aims to target a specific audience or consumer

profile and succeed in stimulating that group to engage and respond directly to the product or

service being marketed..

Direct marketing includes things like television and magazine ads, billboards, and

telemarketing. These tactics allows targeting, directly a demographic area or population

choosing with a customized message, made special, for them.

These methods are very expensive, and that can deeply cut into return on the investment,

especially if it‟s a small business with a small budget.

Advantages of Direct Marketing

Direct marketing strategies make the desired sale obvious to the customer. Examples of direct

marketing include mailers, telemarketing calls and coupons. Since the sales pitch is obvious

to consumers, one of the advantages of direct marketing is that it typically works quickly.

That is, you either get the sale or you don't at the time of the marketing pitch. This also makes

these techniques highly measurable, another advantage to direct marketing


Disadvantages of Direct Marketing

In light of how immediate the payoff is for effective direct marketing, the mediums used for

direct marketing can be more expensive than those for indirect marketing. Television ads,

large-scale direct mailings and contracting telemarketers can be costly, particularly for

smaller businesses that haven't done extensive market research before launching a campaign.

Furthermore, consumers may perceive heavy-handed direct marketing as too pushy, turning

them off to your company

What is Indirect Marketing?

Indirect marketing don‟t try and sell you anything. These tactics allow you to build customer

trust and loyalty, and allows you to build a connection with potential customers by not

shoving pushy sales grounds on them when they are interacting with you!

Typically, indirect marketing does not aim to achieve the highly specific consumer audience

as direct marketing does. A good example of indirect marketing advertising is that of the

traditional storefront window display where a specific product may be displayed prominently

within in a retailer‟s commercial space. There are downsides to indirect marketing tactics

such as the time it takes to get yourself, or your business, another downside is the difficulty

you may find yourself having measuring results from these tactics.

Advantages of Indirect Marketing

Indirect marketing refers to marketing strategies that offer potential customers benefits

outside of the product or service your company is offering, such as entertainment or expertise

in your field. Examples of indirect marketing include blogging and social media. One

advantage to this technique is that potential customers are invited to engage at the level they

feel comfortable, so you can avoid hard-selling tactics. These techniques also tend to be

inexpensive.

Disadvantages of Indirect Marketing

Because indirect marketing relies on building relationships and trust, these marketing

strategies can take a long time to start working. Another disadvantage to indirect marketing is

that it can be difficult to measure. For example, you could measure the number of Twitter

followers your company has, but that doesn't necessarily translate into sales. Finally, indirect

marketing techniques rely heavily on content generation and creativity, something your

company may not have the resources to handle.

Which Marketing Strategy is best for My Business? Direct Marketing or Indirect?

The answer is not as clear cut as direct marketing or indirect marketing, nor is a matter of

which advertising technique is right, rather, we are talking about utilizing a variety of

methods and approaches at our disposal in order to maximize our advertising and marketing

dollars. Therefore, the reason why we consider it to be a marketing strategy is because there


are many factors involved. Additionally, depending on the kind of business and its relative

size and capital, some forms of marketing may be more feasible and appealing than others.

Proposal

A proposal is a suggested plan or offer. A consulting proposal is a document sent from a

consultant to a prospective client describing a job they wish to take on and the conditions

under which they will do so. Consulting proposals are usually written only after the

consultant and prospective client have discussed the job at length.

A business consulting proposal is a document that offers consulting suggestions for a

business in question. If a business is experiencing issues that require a consulting perspective,

a proposal will be written in order to determine how the issues will be resolved. It is quite

common for larger businesses to hire a consultant to get an outside perspective on various

areas, including internal employee issues, for example.

Oral proposal

An oral proposal is a technical presentation. You have to explain in some detail precisely how

you will respond to the customer's request. The selection committee will have a checklist to

make sure you address every aspect of the contract.

An oral proposal is both a technical presentation and a job interview. It‟s a technical

presentation. Your teams get one chance to show how they can help the customer solve their

problems and achieve their goals.

Written proposals

Written the proposal is a formal way of putting forth an idea and asking for action to be taken

on that idea, Proposals are written when people need to ask permission to make a purchase,

do a project, or write a paper; the proposal is a formal way of putting forth an idea and asking

for action to be taken on that idea

Presentation

A presentation is the process of presenting a topic to an audience. It is typically a

demonstration, lecture, or speech meant to inform, persuade, or build good will. The term can

also be used for a formal or ritualized introduction or offering, as with the presentation of a

debutante. The charts and graphs helped me understand the presentation. She/he will take

your questions after she/he has made her presentation.

Time Calculation

Time is the indefinite continued progression of existence and events that occur in apparently.

Once you have a fairly accurate calculation, the remaining challenge is the time period. This


calculator provides a great starting point to help you figure out how much to charge in order

to make the amount of money you want each day, month, and year.

Time is always limited, and for a consultant it is much more precious. Time calculation is the

activity includes dividing the time according to activities and vice versa. Consultants

calculate the time to make the job done that the clients gave to him. Time calculator can add

or subtract hours, minutes, seconds to the starting time you've entered. Calculated time result

will be shown on the right box as total days, hours, minutes and seconds. Also the clock time

will be calculated and listed below the time result. Calculation will be performed just after the

operation selected. You can increase or descrease the hours, minutes and seconds value of

time according to your working hours of your firm or the firm that hired you.

How Consultants Get Paid?

When you make the decision to hire a consultant, and while recruiting a consultant, you may

encounter a variety of payment options, favored by the various consulting service providers.

Here are a few of the common options, and the pros and cons:

1. Lump Sum A lump sum is a single payment of money, as opposed to a series of payments made over

time (such as an annuity). When hiring a consultant based on a lump sum, it‟s critical to make

sure that everyone knows exactly what is required for the project.

2. Hourly or Daily Rates working with consultants who charge a daily or hourly rate can be easier, because everyone

knows exactly how the billing will work. You, the client, can add up the days, or hours, and

keep track of costs, and the consultant can easily add extra services to the contract, without

worrying about payment. The only real downside to this is that you will be charged for every

hour or day. If the consultant works slower than expected, that can add up over time!

3. Per Unit Rates this is an approach I used to favor when working in construction project management, and

dealing with contractors and sub-contractors. By limiting payment to units completed,

companies can ensure that the consultant they hire works as hard as possible on the project –

after all, the higher the result, the higher their earnings.

Of course, you may need to consider a base rate, sort of like an auction reserve. For example,

if the consultant is hired to present a workshop, and no one attends, they have still done a lot

of preparation, and may not like not receiving any payment!

4. Results based more and more people searching for consultants are encountering the results based payment

method. In this method, the consultant typically waives a portion of their fee, for payment

contingent on a specific result. For example, the portion will only be paid to a marketing

consultant if a particular product reaches a 20% sales growth.

5. Share Based Usually initiated by the client, who are normally start ups lacking sufficient cash flow when

hiring a consultant to pay for services rendered, this type of arrangement involves the

company offering the consultant a share in the business, in return for their work. A word of


caution: before giving away your consulting services on this type of deal, make sure the

company in question is viable. There‟s no point owning shares in a company that folds!

Chapter-4: Models and Method for consulting

Strategic planning:

Strategic planning is an organization's process of defining its strategy, or direction, and

making decisions on allocating its resources to pursue this strategy. It may also extend to

control mechanisms for guiding the implementation of the strategy.

Purpose and benefits from strategic planning:

The purpose of strategic planning is to set overall goals for your business and to develop a

plan to achieve them. It involves stepping back from your day-to-day operations and asking

where your business is headed and what its priorities should be.

Strategic planning can have an immediate influence on your company and organization.

Make your future happen don’t let it happen to you

It is the difference between being proactive or reactive. Be on the defensive or the

offensive. Be a victim of circumstances or be victorious in the fight. Not every situation can

be foreseen but you can make decisions and react to changing market conditions with the end

in mind.

Establish direction:

Clearly defines the purpose of the organization and establishes realistic goals and objectives

consistent with the mission which can be clearly communicated to constituents. Provides a

base from which progress can be measured, employees compensated and boundaries

established for effective decision making.

Make wise business decisions

How do you distinguish between a good idea and a great idea? Without a clear vision of

what you want to achieve, and mission or purpose for doing it, everything seems like a good

idea. What project do you invest in? How should you and your staff invest your


time? Having clarity about what you want to do, who you need and how to get there will

focus limited financial and people resources.

Create longevity of the business

The world market and industries are changing faster than ever and those companies who do

not have a solid foundation and have relied on luck or opportunity most likely will not be

around for the future. Data reflects that one out of every three companies at the top of their

industry will not make be there in five years. Focus is powerful. Scientists focus light so

intently that it becomes a laser which is used for surgery or able to cut through glass and

metal.

Increased profitability and market share

Focused planning and strategic thinking will uncover the customer segments, market

conditions, and product and service offerings that are in the best interest of your firm. An

intentful and targeted approach to markets and opportunities which guide your sales and

marketing efforts, distribution and other business decisions which ultimately mean more

profit to the bottom line and a stronger market position.

Unique differentiation: avoid “competitive convergence”

Companies have gotten so used to looking at their competitors and their best practices and

then trying to duplicate them that it becomes harder to tell the companies apart. They all start

to look the same with less distinction in unique value. Strategy means having a unique

differentiation that sets you apart from your competitors.

Increased job satisfaction –meaningful and full of purpose

Consistently one of the top reason for leaving a firm is the lack of job satisfaction. People

need to have a motivation to come to work and feel like part of the team. It has been proven

that employees are the greatest source for innovative ideas. If your employees were in

essence bricklayers, would they say that they are building a wall with each brick they lay

each day or building a cathedral? The purpose and meaning of work gives a new focus and

reason to show up each day.

Fact finding


Fact finding refers to the discovery stage in an inquiry or investigation where information is

procured (using tools such as questionnaires), verified, and assembled in a report, with or

without the recommendations of the investigator.

Necessary fact:

That is a necessary fact about physical objects. This distinction is a metaphysical distinction:

it is to do with the way things must be in order to be the things that.

Fact analysis:

Fact Analysis is fully equipped to provide services in a large spectrum of investigation types.

Question: What is Strategic Analysis? What are the elements of Strategic

Analysis? /Which things an Organization should consider in case of

Strategic Analysis?

Definition:

Strategic analysis is the process of developing strategy for a business by researching

the business and the environment in which it operates. Strategic analysis is the use of various tools to prepare business strategies by

evaluating the opportunities and challenges faced by the company as it moves

forward. Typically, strategic analysis involves a review of internal strengths and

weaknesses as well as factors in the external environmental that could affect business.

A tool often used as part of strategic planning and analysis is SWOT. SWOT is an

acronym for strengths, weaknesses, opportunities and threats

Elements of Strategic Analysis

Strategic Analysis includes the following:

Industry Analysis

Industry analysis begins with a definition of products and markets, skills and competitors

within the industry, followed by industry structural analysis, and concluded with the

identification of the key success factors for the industry.

Porter‟s five forces model for industry analysis can be included.

Strategy Description

Business strategy analysis begins with a description of the strategic goals and business

strategy of the firm. Its implementation is then analyzed in terms of the firm's functional and

operational capabilities and the resulting financial and competitive performance.

Strategy Evaluation

Strategic evaluation or SWOT analysis encompasses the internal and external factors that

affect the company's business strategy. The business strategy is compared against the

industry's key success factors and competitive resource requirements and the firm's internal

capabilities and resource.

Strategic Issues

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Strategic issues refer to important aspects that require attention in order to achieve the

business goals of a company. Strategic issues require careful decisions and clarifications to

resolve, and have a critical impact on the performance of a business, according to Thomas

Ambler of Center for Simplified Strategic Planning. They include the organizational

structure, products, marketing, human resource management, customer service, resource

management, strategic partnerships, business models and strategic management

Critical issues & Recommendations seek to identify the critical issues that the company needs

to address. The analysis concludes with recommendations that address the critical issues and

result in changes of product-market strategy or functional implementation.

Chapter-5: Consulting in various area of Management

Q.1. Consulting in general management

Management consulting is the practice of helping organizations to improve their

performance, operating primarily through the analysis of existing organizational problems

and the development of plans for improvement. Organizations may draw upon the services of

management consultants for a number of reasons, including gaining external (and presumably

objective) advice and access to the consultants' specialized expertise


Q.2. Financial management

Financial management refers to the efficient and effective management of money (funds) in

such a manner as to accomplish the objectives of the organization. It is the specialized

function directly associated with the top management

Elements of Financial management

The elements of financial management in which a consultant is able to provide specialist

support for existing and new organisations include:

Financial forecasting and planning

Business planning - constructing plans and

critically reviewing existing plans

Financial due diligence

Treasury management

Financial controls and systems development

Development of business cases

Drafting and agreeing financial regulations

How a consultant helped his clients

Evaluate Business Plan Review of business plan presented to a Regional Development Agency in support of an

application for several million pounds worth of grant aid. A consultant is able to provide

advice to the Agency, and the applicant, to ensure that the grant was protected.

Business Case Development Development of business cases for the NHS using our proprietary financial modelling tools.


This work has included working with Trusts and reviewing their existing business cases

where they were putting forward plans to raise funds for major capital projects through to

developing business cases for major strategic changes in the Health Service.

Financial Interim Management A team of consultanting firm provided the financial expertise to provide day-to-day support

during the set up of a major government agency - this included setting up the financial

systems and controls; drafting the financial regulations; determining VAT policies and

agreeing them with HMRC; establishing cash flow forecasting and treasury management

procedures.

Business Plan Development Development of a Business Plan for a start-up organisation to enable them to raise funds.

Q.3. Small enterprises management

Effectively managing your business enterprise involves many aspects. From the day-to-day to

the large-scale annual events or maintenance, managerial duties are often never-ending. Your

solid leadership and understanding of the industry are a great start, but these alone will not

create solid management in your business.

Step 1 Lead with knowledge and confidence.

Step 2 Delegate effectively. No matter how skilled you are, you will not be able to manage

everything on your own.

Step 3 Hire the right employees and manage them with care.

Step 4 Motivate and train your employees.

Step 5Meet the needs of your customers

Step 6 Market your company effectively.

Q.4. Development management consultants

DMC offers a complete range of services from conception to commissioning including

Feasibility Studies, Detailed Design, Construction Supervision, Operation and Maintenance,

Inspection, Remedial Works and Training. Conceptual Phase Preparation Phase Planning

Phase Design & Tender Documents Phase Construction Phase Operation Phase.

Development actions

Development is not just about completing courses. We recommend a variety of other methods

to help you make the most of your potential:

practical application of your new skills and knowledge

rotation on assignments to keep trying new tasks

taking on management responsibility during client work

accepting additional responsibilities

working on assignments for other practices or in another country.


Q.5. Consulting as a career

“Career Consulting/coaching is a great way to get personal help with establishing your

professional goals, making career decisions, creating and executing plans, and overcoming

obstacles that may come in your way.

Q.6. Training and development of consultant

Training and development is a function of human resource management concerned with

organizational activity aimed at bettering the performance of individuals and groups in

organizational settings

Training programmes

We recognise that providing an outstanding training programme, which supports you

throughout your career, is essential to your professional development.

Our aim is to develop wide-ranging consulting ability backed up by expertise in one area of

specialisation.

This breaks down into five core skill areas:

consulting

assignment and commercial management

communication

people development

analytical thinking

Chapter-6: Final Report and Follow up:

Consultant report

DATA Gathering

Data collection is the process of gathering and measuring information on targeted variables

in an established systematic fashion, which then enables one to answer relevant questions and

evaluate outcomes. The data collection component of research is common to all fields of

study including physical and social sciences, humanities and business. While methods vary

by discipline, the emphasis on ensuring accurate and honest collection remains the same. The

goal for all data collection is to capture quality evidence that then translates to rich data

analysis and allows the building of a convincing and credible answer to questions that have

been posed.

METHODS & Sources of data collection

Primary data is the data collected by the researcher themselves, i.e.

1. interview

2. observation

3. action research

4. case studies

https://en.wikipedia.org/wiki/Measuring


5. life histories

6. questionnaires

7. ethnographic research

8. longitudinal studies

Secondary sources are data that already exists

1. Previous research

2. Official statistics

3. Mass media products

4. Diaries

5. Letters

6. Government reports

7. Web information

8. Historical data and information

Qualitative and Quantitative Research

Qualitative research

is primarily exploratory research. It is used to gain an understanding of underlying reasons,

opinions, and motivations. It provides insights into the problem or helps to develop ideas or

hypotheses for potential quantitative research. Qualitative Research is also used to uncover

trends in thought and opinions, and dive deeper into the problem. Qualitative data collection

methods vary using unstructured or semi-structured techniques. Some common

methods include focus groups (group discussions), individual interviews, and

participation/observations. The sample size is typically small, and respondents

are selected to fulfill a given quota.

Quantitative research

is used to quantify the problem by way of generating numerical data or data that can be

transformed into useable statistics. It is used to quantify attitudes, opinions, behaviors, and

other defined variables – and generalize results from a larger sample population. Quantitative

Research uses measurable data to formulate facts and uncover patterns in research.

Quantitative data collection methods are much more structured than Qualitative data

collection methods. Quantitative data collection methods include various forms of surveys –

online surveys, paper surveys, mobile surveys and kiosk surveys, face-to-face interviews,

telephone interviews, longitudinal studies, website interceptors, online polls, and systematic

observations.

Follow UP

The act or an instance of following up, as to further an end or review new developments: The follow-

up is often as important as the initial contact in gaining new clients. The social worker's emphasis on

followup reassured her clients.

Implementation


Basic consultant report

Cover Page

Disclaimer Page

Title Page

Table of Contents

Executive Summary

Introduction to the Report

o What is the problem or the opportunity?

o What is the purpose of the proposal?

o What is the background of the problem or the opportunity?

o What are your sources of information?

o What is the scope of your proposal?

o What is the organization of the proposal?

o What are the key terms that will be used in the proposal?

Background

Client Profile

o Nature and History of the Firm

o The Firm Today

o The Business and Market Environment

o The Competition

o Defining the Firm‟s Objectives

Defining the Team‟s Tasks

Solution

Bibliography

Appendices

Bsmrstu mgt11-ranjit-consultancy final

Business

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