Most owners of small business believe no one knows more about their business than they do. CEOs of mid-sized companies often believe that the kinds of activities performed by management consultants can and should be carried out by their own management on top of their day-to-day responsibilities. And CEOs and senior executives of large global corporations, while generally more open to management consultants than their counterparts with small and mid-sized companies, often resist engaging management consultants either due to their corporate ego or in view of cost controls.
Why and when should a company engagement a management consultant?
- Management consultants bring an independent perspective. Periods of high growth, low growth, tepid financial performance, creative stagnance and organizational change are a few of the many symptoms when an independent perspective is essential for a business.
- They often have specialized skills in areas such as strategy, finance, operations, human resources or marketing.
- Management consultants work from the perspective of best practices and use these as a benchmark for evaluation and recommendations.
- They can provide additional resource in specialized areas for a limited period of time to support a project, initiative or change such as an acquisition or divestiture.
While the reasons to engage management consultants are numerous, more often than not, these four are key to the decision-making of businesses of all sizes.
What are your reasons for bringing on management consultants? Did it result in a position result for the business and why? If not, what was the reason the engagement did not result in success for the business?
George Franks is the founder of Franks Consulting Group – a management consulting and leadership coaching firm. Visit:
1 comment:
Thanks for the post. It is interesting what you find on Blogger when you look for business processes.
what is the role of business process
Post a Comment