Management in business refer to the individual who make strategy to coordinate the efforts of employees and to achieve objectives of the organization by using various resources available such as financial, human, natural etc. In the ever increasing competitive world each company or a firm needs to be a step ahead then their competitors and for this they have to come up with the new and innovative ideas and continuously try to improve their performance. Or else the mere survival of the firm can also be difficult. Management Consulting Services is a client based service which offers solutions to the company’s financial, operational, technological and other issues. It is the exercise of helping organizations to better their performance, analyse and solve the existing organizational problems and making development plans for their improvement. Organizations may higher the services of management consultants for various reasons, such as obtaining their advice and gaining their special expertise to improve the working of the firm. Top management consultancyfirm in Hong Kong would usually hire hundreds of employees.

As the situations and problems are different in various companies the practices and advices of these consultants are not transferable. They first have to analyse the situation in the company, find the problem faced, come up with the suitable solution taking into account the resources available which will help in overall growth and development of the firm. Due to their experience and relationships with several organizations, consulting firms are generally aware of the best practices used in industries.

Function: The functions of consulting services can be divided into eight task categories. Consultants can function as bridges for information as well knowledge, and also that external consultants can provide these bridging services more economically than client firms themselves. The main benefit of the management consultants is their experience, which is far more than the experience of the client firm. They have expertise skills on tasks which may involve implementation of information technology or major changes in the organisational structure or increasing the use of resources for increasing the productivity of the firm. Since their focus and experience in collecting information worldwide is very high these cost incurred are justified. There are quite a lot of top management consultancy firm in Hong Kong.

Approaches: Management consulting can be done through 2 approaches namely expert approach and facilitative approach. In the case of expert approach, the consultant takes the role of expert, and provides expert advice or assistance to the client, whereas in facilitative approach, the input from the consultant and the collaboration with the client company is less. Major focus is on the process of consulting than providing expertise knowledge. As the focus here is on the consulting process, this approach is also often referred to as process consulting.

Many consulting firms are structured in the form of matrix, where one part of the firm may focus on a business function or type of consulting such as technology, operations, strategy, process development, executive leadership, sales, etc. The other part may focus on the industry such as automotive, oil and gas, retail etc. Together, these form a matrix. For example, one consultant may concentrate on operations for the retail industry, and another may specialize on process improvement in the oil and gas industry.

Specialization: – Provision of business services is the main aim of management consulting, but there are also various other specialties, such as human resource consulting, information technology consulting and others. Most of these services are offered by the larger diversified consultancy firms. Thus there are smaller organizations that focus on few of such specialties. These are called boutique consultancies.

Responsibilities

The everyday activities of management consultants are depended on the client and the type of project they are working on. This can be very complex at times. Some project may require a single consultant to work on whereas others may involve a large team. Again some of the consulting work may be based on one location and others may include travelling to various sites.

The flow process of management consulting for new graduate recruits, involve:

Conducting research and collecting data to understand the organisation;

To conduct analysis;

Interviewing and understanding the management team, client’s employees, and other shareholders;

Conducting workshops and running focus groups.

Preparing business proposals as well as presentations for the overall growth.

Identifying possible issues concerning the firm and finding solutions;

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