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The scope of management consulting is vast and dynamic. It covers under its gamut miscellaneous services to be performed by any organization for systematic and effective functioning of its business operations. Assisting businesses in enhancing their performance by analyzing the present-day complications and fabricating a strategy for development. Services of management consultancy are required for diversified reasons including securing external guidance as well as accessing consultants’ area of proficiency.
Over the years, MAS had exposure to as well as association with several organizations which has led to the team being up-to-date with the best practices prevailing in the industry. However, interchangeability of such business practices might be limited by the precise nature of the situation under consideration. Management consultancy approach is integrated to tackle with all the aspects of running of an entity viz throughout thorough planning, practicality, outsourcing, compliance outsourcing as well as transactional services.
Our team can render assistance in:
- Business planning
- Transaction advisory
- Valuation of businesses
- Due diligence
- Feasibility assessment
- Internal restructuring consultancy
- Standard operating procedure (SOP) development
- Strategic planning and consultancy
FAQs
Management consulting is the practice of serving companies to improve their production. The scope of management consulting is vast and dynamic. Services of management consultancy are required for diversified reasons, including securing external guidance and accessing consultants’ areas of proficiency. Management consultancy approach is integrated to tackle with all the aspects of running of an entity viz throughout thorough planning, practicality, outsourcing, compliance outsourcing as well as transactional services.
The seven stages of management consulting are:
- Clarifying client expectations
- Briefing and building the team
- Preparing the thinking
- Conducting the analysis and managing the data collection
- Driving the synthesis, preparing communication and key presentations
- Coaching the client to lead the implementation and developing change agents
- Managing client expectations and closing the engagement successfully
Management consultants are experts at making sense out of complex business data. They don’t take over the day-to-day decision-making in a business. Instead, they provide additional support to the decision-making process. Although the executives tend to be tied up in daily operations, management consultants can take a more in-depth approach to solve current issues. They can collect data from your day-to-day operations and uncover what the numbers tell. Most companies perform at a sub-optimal level, knowing that there is room to grow but not knowing how to begin. Management consultants reveal these shortcomings and propose improvement solutions. Thus, the role of consultants becomes very valuable to their customers.
A big part of management consulting involves taking a strategic approach to problem-solving. By prospecting all angles to a specific challenge, consultants can provide more valuable and practicable solutions to their clients. Most consultants follow five main steps when addressing a business problem. The steps are as follows:
- Defining the problem
- Deciding on the approach to take
- Collecting and analyzing data
- Presenting recommendations
- Follow up: were the recommendations successful?
- Natural influencer
- Intuitive communicator
- Detail-oriented
- Emotional intelligence
At MAS, we provide the following services under management consulting:
- Business planning
- Transaction advisory
- Valuation of businesses
- Due diligence
- Feasibility assessment
- Internal restructuring consultancy
- Standard operating procedure (SOP) development
- Strategic planning and consultancy
