4237dSession Three - Consultancy

8/2/2019 4237dSession Three - Consultancy

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Amity Global Business School

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Management in Action

Consultancy

Sandeep [email protected]

+91 99589 55151

Session Three
mailto:[email protected]:[email protected]


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Consultancy

Management Consulting is the practice of offering business executives third

party advice, expertise, and support with the aim of enhancing the

business's performance resulting in an overall increase in the value of thebusiness for its shareholders - and other stakeholders

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The First Consultant Management Consulting got its start in the late 1880's when Frederick

W. Taylor began to perform studies of the time required to complete

processes in manufacturing

The practice developed over time and eventually, James O. McKinsey

formed McKinsey & Company with Tom Kearney -in the mist of the great

depression (1930s), when companies needed consultancies most.

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The Consultancy Mantras Creative problem solving ability

Excellent people skills

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Consultants spend much of their time at the clients office, with the top

management at the clients office.


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The Consultancy Entry Route Passion

Knowledge

Qualification

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ApplicantsBackground

Ph.D. and Masters in all fields could and should apply

McKinsey and BCG: most suitable for Ph.D. applicants


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Interview Process Leading Consultants

Things they look for

1. Problem-solving skills

2. Leadership ability

3. Past Achievements

4. Personal impact: influence those around you


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Activities of Management Consultants Scoping client problems

Conducting hypothesis of possible solutions

Researching and collecting data to investigate and solve specificclient problems

Synthesizing analyses outputs to build an overall diagnosis

Running workshops to facilitate discussions for performanceimprovement

Managing client stakeholders to create "buy-in" to a change

initiative Constructing and delivering business presentations, and interim

progress reports

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Types of Consulting Management Consulting

Strategy Consulting

Human Resources Consulting

IT Consulting Corporate Finance & Financial Advisory

Consultant Engineers

Marketing Consulting

Consulting in Politics and the Public Sector

Real Estate Consulting

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Management ConsultantsManagement consultants are business consultants that specialise inproviding companies and start-ups with expertise in setup anddevelopment, operations, finance, economics, market analysis,marketing, and branding.

The services can range from providing for the needs of a smallbusiness start-up to meeting the requirements of a global companyexpanding into a new market. Common business planning servicesinclude feasibility studies, financial planning, market analysis,

options appraisal, operational planning, and due diligence.

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Strategy ConsultantsOnce the management consultant has properly diagnosed the problem,the strategy consultant will provide a solution as well the practical andeffective path to implementation of that solution.

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Human Resource ConsultantsThe core fields around which most HR firms base their consultingmethodologies are human capital, health and benefits, merger andacquisitions, communication, retirement, and outsourcing.

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IT ConsultantsAn IT consultant will often implement, deploy, and administer ITsystems on behalf of the company.

IT consultation services include security, scalability, redundancy,software development, taking software from development to title,intranet networking, Internet networking, analytics, compliance.

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Corporate Finance ConsultantsCorporate Finance Consulting support start-ups, small businesses andpublic traded companies to achieve the perfect financing structure withthe right mixture of debt and equity.

In the task of financial questions financial advice is almostindispensable. Financial Consulting assists to make the right decisions.

There are several specialised financial consultants active, a lot of whichare offering a wide range of services from consulting corporate finance

to financial markets to banking services.

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Engineering Consulting

Consulting Engineers are offering value creating knowledge in variousindustries. Main areas are production as well as the constructionsector.

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Real Estate Consulting

Real Estate Consultants assist acquiring and selling property. They alsohelp to develop Real Estate construction projects e.g. with specailisedtennancy solutions. Optimal management policies for corporate realestate are also provided.

Connecting Real Estate to the worldwide capital markets is anothermajor capability for Real Estate Consultants as well as technical,commercial and legal due diligences in purchasing processes.

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10 Commandments of Consultancy

Be Flexible

Provide tailor-made service

Have a people-centred approach

Leave a legacy Act responsibly

Avoid conflict of interest

Practice Value diversity

Deliver results on time

Maintain confidentiality

Display ethical conduct

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The Consultancy Timeframe

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4237dSession Three - Consultancy

Documents

Transcript of 4237dSession Three - Consultancy