Management Consultant
- Refers to a person who is qualified by education, experience, technical ability and
temperament to advise/assist businessmen on a professional basis in identifying,
defining, and solving specific management problems involving the planning, direction,
control and operation of the firm.
Factors for Hiring Management Consultant:
1. Help define specific problems and develop solutions
2. Provide specialized skills and experience
3. Provide confidential service in which the identity of the client is concealed
4. Train client personnel
5. Help improve intra-company communications
6. Render an independent opinion
7. Help get results
Consultancy vs Engagement
Consultation
- Consists of providing advice and information during a short time-frame.
Engagement
- Consists of the form of management advisory or consulting service in which an analytical
approach and process is applied in a study or project.
The Analytical Approach and Process in a Consulting Engagement involve:
1. Setting the objectives of the engagement
2. Identifying the problem involved in the engagement
3. Gathering data and facts relevant to understanding and solving the problem
4. Evaluating and determining possible solutions
5. Presenting findings and recommendations
In case the client requests the consultant to proceed, the consultant may also
be involved in: 1. Planning and scheduling actions based on
recommendations
2. Advising and providing technical assistance in implementing