Friday, December 18, 2009

What is managment consulting???

We often come across the word management consulting, so what is it exactly? Management consulting is the act of providing expertise to a client by an external agent called consultant. A typical consultancy project includes various steps-

1. Identifying the problem
2. Identifying the constraint.
3. Providing alternative approaches
4. Selecting the best solution.
5. Once best solution is selected it is important for the consultant to help client in integrating the change with the structure of the organization.

Having said this management consulting is something that cannot be restricted to such a simpleton definition it is something beyond, The factual meaning of management consultancy is highly dependent on the kind of socio economic back ground in which the business is done,Due to this there have been significant changes in meaning of management consultancy
in the beginning of twentieth century’s consulting was all about increasing production efficiency of clients,then in the time of 1930's and 40's that is in the time of world war(when the load was very high on industries) consulting was about designing newer process that can meet huge demand at a very small interval of time,Then in the 70's and 80's consulting was more concerned with the concept of quality that is meeting the standard in the most cost efficient way ,Now in the present scenario of globalization where businesses are operated under cut throat competition consulting has underwent a very diversified definition ,it is no more only a advisory role but has to do a lot with final execution and implementation of the projects.Consulting task ranges from implementation of various IT technologies such as ERP,E-GOVERNANCE,OUT SOURCING to implementing organizational designs and changes to making strategies to target newer market segments in this globalizing economy, more on this new aspect of consultancy in upcoming blogs.


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