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A
COMPREHENSIVE PROJECT REPORT
ON
“Role of Consultancy in Bridging Gap between the Expectation of Management Students
and ...
Preface
“True learning is borne out of experience and observation”
Theoretical study gives us the conceptual clarity while...
Executive Summary
The consultancy plays different roles for their clients i.e the candidates and the
industry.
In recent y...
Table Of Content
SR.
NO.
PARTICULARS Pages No.
1 Introduction
History
Role of Consulting Agencies
Types of consultants
Tre...
Introduction
Meaning of Consultant.
A consultant is a professional who provides professional or expert advice in a
particu...
History
Management consulting grew with the rise of management as a unique field of study.
The first management consulting...
Role of Consulting Agencies
In general, various approaches to consulting can be thought of as lying somewhere
along a cont...
Types of consultants
In the business, and as of recently the private sphere, the most commonly found
consultants are:
• En...
Trends
Consulting is a somewhat recurring industry. After a decade of sizzling growth and
enviable profits, the consulting...
Consultancy Industry Overview.
 Global consulting industry revenues (including HR, IT, strategy, operations
management an...
Advantage and Disadvantage of Consultant
Advantages
• provide unbiased, objective and independent advice
• provide special...
• Intellectual property rights being shared with or owned by the consultant
• The consultant terminating the contract befo...
Human Resource Consulting
Human resource consulting is an $18.4 billion industry that has emerged
from management consulti...
budgets, develop strategy, and determine appropriate salaries and benefits for
employees. Some of the key areas of growth ...
• Mercer
• PricewaterhouseCoopers
• The Segal Company
• Towers Perrin
• Watson Wyatt Worldwide
Aon and Hewitt Associates h...
Big Five
The Hay Group
Hay Group is an American global management consulting firm based in Philadelphia,
Pennsylvania, wit...
Towers Perrin
Towers Perrin was a professional services firm specialising in human resources and
financial services consul...
Indian Consultancy Industry Overview
India has been globally recognized for its fast paced development. The service sector...
management skills to handle the benumbing rate of technological and market
change. The consulting industry is trying its b...
Consultancy Firms in Ahmedabad, Gujarat.
Prime Placement & Manpower Services
They started in 2005 and have come a long way...
The main motto is to find the RIGHT job for the RIGHT person and RIGHT person for
RIGHT job
Havoc Job Consultants
Missions...
Industry and have been involved in Recruitment / Manpower / Management
Consultancy to industries as IT / ITES, Consumer Du...
Himalaya Management Consultancy
With the wide spread network, professionally managed Himalaya Management
Consultancy is we...
At Arrow Recruitment Consultants Pvt Ltd, they have successfully put to work
hundreds of employees annually through two bu...
• Offer Confirmation
• Reference check and compensation check of selected candidates
• Joining and Final Placement
• Post ...
They adhere to a code of professional ethics with an emphasis on honesty and
integrity — handling their relationships with...
Introduction to study
In context of the changing global economic environment there is a need to assess
the relevancy of ac...
Present Situation of Students in India:
• India’s Higher Education system adds about 3.5 Lakh Engineers and 25 Lakh
Univer...
Students Expectations:
• Great Salary.
• Good Position.
• Mobility.
• Perception Disorder.
• Degree alone is sufficient fo...
Identify the skill gaps in the following skillsets
The word “Employability skills” is a wide spectrum, used in the industr...
Thus the need to identify the skill gap and bridging them becomes at most important.
This conceptual frame work throws som...
Literature Review.
 Rajsekaran and Rajasingh (2009) have concluded that the perception gap
between industry and faculty m...
traditions behind the word. And it should not be a surprise if it is realized that for
instance, employers, practitioners,...
industries along with more than 135 graduates. According to author the perception of
CEOs regarding the freshmen is that t...
Problem Statement
A fresh graduate or job seeker has some expectations from the organization in which
they want to make th...
Research Methodology
Research design
A research design is the arrangement of conditions for collection and analysis of
dat...
and passed through statistical process.
Primary data
We collect primary data during the course of doing experiment in an e...
Population
Data is collected through 13 consultancy firms; population for the research is the
employees of those consultan...
DATA ANALYASIS AND
INTERPRITATION
39 | P a g e
Introduction
The Questionnaire Contains 16 questions and some Demographic information.
The Graphical analysis and interpre...
No. of Experience:
The above chart shows that there are 22.22% employees who have experience less
than 1yr, 43.25%of emplo...
Ques1. What are the functional area of your consultancy?
From the above chart we can see that there are different function...
Ques 2. Do you recruit management students in your consultancy as trainee &
junior level post ?
From the above graph we ca...
Ques.3 Do you recruit management students for your client at corporate level?
As shown in the graph we can analysis 64.19%...
Ques 4. The students are employed on what basis?
From the above graph we can analyse that 9.92%stuedents are employed on
c...
Ques 5. If on contract basis, the contract between:
From the above graph we can analyse that 9.31% contract is between con...
Ques 6. Fresher's are selected on the basis of
From the above graph we can analyse that 15.08% of fresher’s are selected o...
Ques 7.Do you tie up with academic institutions for collaborative skill programs?
From the above graph we can analyse that...
Ques 8.Do you conduct seminar and workshop for fresh candidates & pursuing
candidates?
From the above graph we can analyse...
Ques 9.Do you agree that academic should focus on practical studies rather than
theory?
From the above graph we can analys...
Ques 10. Do you agree that fresher’s expectations are unrealistic about the first job?
From the above graph we can analyse...
Ques 11. Do you agree that industries give priority to the skill, attitude, discipline,
articulation, and practical knowle...
Ques 12. Do you agree that demand of jobs in market is less as compared to supply
of management students?
From the above g...
Ques.13.Do you have direct experience in managing people and teams?
From the above graph we can analyse that 50.79% of emp...
Ques 14. Are you played a liaison role/healthy relation with clients and organization
that you work with?
From the above g...
Ques 15. Working through this table, consider what are your key areas of expertise
and rate the same priority wise, that y...
Ques 16. Working through this table, consider how do you Market your expertise &
Contact to your potential clients, Rate t...
Results & Findings
58 | P a g e
Findings
• Major number of the consultancies which we have targeted are working in the IT
and the HR area. Very low of the...
Suggestions & Conclusions
60 | P a g e
Suggestions
• Consultancies can launch some collaborative programs for students.
• Training Programs, Certificate Programs...
Conclusion
• Study of the resource management at graduate & post graduate level in India is
based on various kind of secto...
ANNEXURE & BIBLIOGRAPHY
63 | P a g e
Bibliography
• Article:
Identifying the skills for consultants working in project-based organizations
(A glimpse into the ...
Book:
o Basic Research Methods – By Gerard Guthrien.
ANNEXURE :
QUESTIONNAIRE
Dear Respondent,
We are students of MBA & do...
2. Do you recruit management students in your consultancy as trainee & junior level
post ?
Yes No
3. Do you recruit manage...
 Note: For Question no. 15 & 16 please rate the option priority wise from 1 to 3, as
you feel is most appropriate as per ...
68 | P a g e
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Study on the role of consultancy in Bridging gap between Students and industry.

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Study on the role of consultancy in Bridging gap between Students and industry.

  1. 1. A COMPREHENSIVE PROJECT REPORT ON “Role of Consultancy in Bridging Gap between the Expectation of Management Students and Industry” Submitted to Ahmedabad Institute of Technology IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ASMINISTRATION In Gujarat Technological University MBA PROGRAMME Affiliated to Gujarat Technological University Ahmedabad May, 2014 1 | P a g e
  2. 2. Preface “True learning is borne out of experience and observation” Theoretical study gives us the conceptual clarity while practical study states about it and how it can be performed in real life. Theoretical study does gives us the knowledge about corporate world, but without the practical exposure one cannot be total in the same field. Learning and training are two crucial and ever-helping aspects in all phase. Training is of sublime importance for managing performance. An army cannot go to war field without adequate and proper training. Similarly, for survival in management you must have practical insight balanced with theoretical background. So practical Training and Research Work is included as a part of MBA’s curriculum in which student has to undergo training in any company of his/her choice whereby practical insights and exposure can be gained. 2 | P a g e
  3. 3. Executive Summary The consultancy plays different roles for their clients i.e the candidates and the industry. In recent years the gap among the students and the industry has increased. There are many reasons for the increased gap between them. Among the reasons some are lack of skills, abilities and the practical knowledge about their field. There are some demerits form the side of the academic institutions. The institutions are focusing over theoretical knowledge and less or even not at all on the practical knowledge. Those gaps are can be bridged by the consultancies playing a role between the students and the institutions to bridge the gap. Many roles can be played by the consultancies and can prepare some frame work of the model to overcome those gaps. This study will provide the suggestions and some important reasons how to lessen the gap is important. And how consultancies and overcome such gaps. 3 | P a g e
  4. 4. Table Of Content SR. NO. PARTICULARS Pages No. 1 Introduction History Role of Consulting Agencies Types of consultants Trends Advantage and Disadvantage 8 9 10 11 12 14 2 Human Resource Consulting 16 3 Big Five ( Major Players of Industry) 19 4 Indian Consultancy Industry Overview Consultancy Firms in Ahmedabad, Gujarat. 21 23 5 Introduction of the Study Literature Review Problem Statement of the Study Objectives of the Study Limitations of the study 30 35 38 38 38 5 Research Methodology Research Design Data Collection Method Source/s of Data Population Sampling Method Sampling Frame Date Collection Instrument 39 39 40 41 41 41 41 6 Data Analysis & Interpretation Results & Findings Suggestions Conclusions 42 62 64 65 7 Bibliography Annexure 67 68 4 | P a g e
  5. 5. Introduction Meaning of Consultant. A consultant is a professional who provides professional or expert advice in a particular area such as security, management, accountancy, law, human resources, marketing ,finance, engineering, or any of many other specialized fields. A consultant is usually an expert or a professional in a specific field and has a wide knowledge of the subject matter. The role of consultant outside the medical sphere can fall under one of two general categories: • Internal consultant - someone who operates within an organization but is available to be consulted on areas of specialism by other departments or individuals; or • External consultant - someone who is employed externally whose expertise is provided on a temporary basis, usually for a fee. As such this type of consultant generally engages with multiple and changing clients. The overall impact of a consultant is that clients have access to deeper levels of expertise than would be feasible for them to retain in-house, and may purchase only as much service from the outside consultant as desired. 5 | P a g e
  6. 6. History Management consulting grew with the rise of management as a unique field of study. The first management consulting firm was Arthur D. Little, founded in 1886 by the MIT professor of the same name. Though Arthur D. Little later became a general management consultancy, it originally specialized in technical research. Booz Allen Hamilton was founded by Edwin G. Booz, a graduate of the Kellogg School of Management in 1914 as a management consultancy and the first to serve both industry and government clients. After World War II, a number of new management consulting firms formed, most notably proud foot Consulting, founded in 1946 by Alexander Proud foot, which implemented sustainable operational improvements within its clients, and Boston Consulting Group, founded in 1963, which brought a rigorous analytical approach to the study of management and strategy. Work done at Booz Allen, McKinsey, BCG, and the Harvard Business School during the 1960s and 70s developed the tools and approaches that would define the new field of strategic management, setting the groundwork for many consulting firms to follow. In 1983, Harvard Business School's influence on the industry continued with the founding of Monitor Group by six professors. One of the reasons why management consulting grew first in the USA is because of deep cultural factors: it was accepted there, (contrary to say, Europe), that management and boards alike might not be competent in all circumstances; therefore, buying external competency was seen as a normal way to solve a business problem. This is referred to as a "contractual" relation to management. By contrast, in Europe, management is connected with emotional and cultural dimensions, where the manager is bound to be competent at all times. This is referred to as the "pater family as" pattern. Therefore seeking (and paying for) external advice was seen as inappropriate. However, it is sometimes argued that in those days the average level of education of the executives was significantly lower in the USA than in Europe, where managers were Grandes Ecoles graduates (France) or "Doktor" (Germany), though this is very difficult to quantify given the vastly differing management structures in American and European businesses. It was only after World War II, in the wake of the development of the international trade led by the USA, that management consulting emerged in Europe. The current trend in the market is a clear segmentation of management consulting firms. Another branch of management consulting is Human Resource consulting. Such firms provide advice to their clients regarding the financial and retirement security, health, productivity, and employment relationships of their global workforce. 6 | P a g e
  7. 7. Role of Consulting Agencies In general, various approaches to consulting can be thought of as lying somewhere along a continuum, with an 'expert' or prescriptive approach at one end, and a facilitative approach at the other. In the expert approach, the consultant takes the role of expert, and provides expert advice or assistance to the client, with, compared to the facilitative approach, less input from, and less collaboration with, the client(s). With a facilitative approach, the consultant focuses less on specific or technical expert knowledge, and more on the Process of consultation itself. Because of this focus on process, a facilitative approach is also often referred to as 'process consulting,' with Edgar Schein being considered the most well-known practitioner. The consulting firms listed above are closer toward the expert approach of this continuum. Many consulting firms are organized in a matrix structure, where one 'axis' describes a business function or type of consulting: for example, strategy, operations, technology, executive leadership, process improvement, talent management, sales, etc. The second axis is an industry focus: for example, oil and gas, retail, automotive. Together, these form a matrix, with consultants occupying one or more 'cells' in the matrix. For example, one consultant may specialize in operations for the retail industry, and another may focus on process improvement in the downstream oil and gas industry. 7 | P a g e
  8. 8. Types of consultants In the business, and as of recently the private sphere, the most commonly found consultants are: • Engineering consultants provide engineering-related services such as design, supervision, execution, repair, operation, maintenance, technology, creation of drawings and specifications, and make recommendations to public, companies, firms and industries. • Strategy consultants working on the development of and improvements to organisational strategy alongside senior management in many industries. • Human-resources (HR) consultants who provide expertise around employment practice and people management. • Internet consultants who are specialists in business use of the internet and keep themselves up-to-date with new and changed capabilities offered by the web. Ideally internet consultants also have practical experience and expertise in management skills such as strategic planning, change, projects, processes, training, team-working and customer satisfaction. • Process consultants who are specialists in the design or improvement of operational processes and can be specific to the industry or sector. • Public-relations (PR) consultants dealing specifically with public relations matters external to the client organisation and often engaged on a semi- permanent basis by larger organisations to provide input and guidance. • Performance consultants who focus on the execution of an initiative or overall performance of their client. • Immigration consultant who helps through legal procedure of immigration from one country to other country. • Information-technology (IT) consultants in many disciplines such as computer hardware, software engineering, or networks. • Marketing consultants who are generally called upon to advise around areas of product development and related marketing matters. • Interim managers as mentioned above may be independent consultants who act as interim executives with decision-making power under corporate policies or statutes. They may sit on specially constituted boards or committees. 8 | P a g e
  9. 9. Trends Consulting is a somewhat recurring industry. After a decade of sizzling growth and enviable profits, the consulting business was forced to pull in its reins during 2001- 2003. The stock market bust of 2000-2001, particularly in the technology and telecommunications sectors, caused this setback. Start-up companies that were once lucrative consulting clients disappeared under crushing financial losses. Meanwhile, a general economic slowdown in most of the developed world further hampered the consulting industry. Consultancies posted significant growth from 2005 through 2007. However, 2008-2009 marked challenging period, in light of the global economic slowdown and shrinking corporate budgets. Government budgets have been under pressure as well, at the state and local level, where large deficits loom and tax revenues are down. Corporations, large and small, have been slashing spending, employment and capital investment in a sometimes desperate attempt to pay down debt while cutting costs. This has been particularly hard on some consulting sectors, since corporations and governmental agencies are prime clients for consultancies. E-Business Consulting - The Internet is changing the way companies do business- and the kind of consulting they need. Many traditional consulting practices are in danger of becoming less appropriate in the Internet Age. The consultants of tomorrow will require different skills than the consultants of today. Many consultancies have some sort of e-business push underway, whether it's a specific e- biz practice, a special initiative, or just funnelling a ton of cash into figuring out all the ways they can use the Internet to help their clients. A slew of e-business boutique firms have arisen in recent years, including Razorfish, Scient, USWeb/CKS, Viant and Agency.com. Look for these firms to increasingly butt heads with the more traditional consulting firms for Internet-related and eventually, perhaps, general-consulting projects. 9 | P a g e
  10. 10. Consultancy Industry Overview.  Global consulting industry revenues (including HR, IT, strategy, operations management and business advisory services) will be about $415 billion in 2013, according to Plunkett Research estimates.  This represents reasonable growth from $391 billion in 2012.  During 2010-12, for example, India’s leading consultancies enjoyed substantial growth in employee count and revenues, as did most of the global consulting firms based in the U.S. and European countries.  A major development in IT consulting has been the extremely rapid growth of large companies that are based in India but compete globally, such as Wipro, Infosys and Tata Consultancy Services (TCS).  Offshoring to India Drives Changes in Global Consulting. 10 | P a g e
  11. 11. Advantage and Disadvantage of Consultant Advantages • provide unbiased, objective and independent advice • provide specialist knowledge that is not otherwise available • provide access to their own or partner's intellectual property • have access to a wide and diverse network of knowledgeable people • cost less than an employee under some circumstances and arrangements • fill a short-term or part-time resource need where specialist knowledge, skills and competency are required • be expendable in cases where the assignment's risk of failure or termination is high Internal consultants can be: • protected from other work and influences on their time • used to cascade the specialist skills, competencies and knowledge introduced by an external consultants • develop a unique in-house strategy for change • used to share specialist skills that were developed in house • developed for managerial roles especially when culture change is being nurtured • used to retain specialist knowledge in house when the functional role has ended Disadvantages The disadvantages of using a consultant usually become evident when the definition and selection processes have failed. For an external consultant these can include: • The consultant not being engaged in the business and primarily interested in personal, financial or academic gains • taking time to get to understand the organisation in depth • High costs, especially for more specialist skills and unique competencies • escalating costs if the organisation does not manage the expenditure • Organisation knowledge gained and retained by the consultant • An unethical or untrustworthy consultant 11 | P a g e
  12. 12. • Intellectual property rights being shared with or owned by the consultant • The consultant terminating the contract before the work is completed In reality it is better to see these disadvantages as risks that should be evaluated and mitigated during the establishment of a legally binding contract. The disadvantages of using an internal consultant could include: • The restriction to knowledge, competencies, skills and intellectual properties that are owned by the company • being embroiled in the politics and culture that the organisation wants to change • cost of ownership can be higher than immediately apparent due to fringe benefits, national insurance, paid holidays and sick leave, training and personal development, facility and other organisational overheads • Harder to terminate the arrangements • Knowledge networks may be limited to those internal to or close to the organisation 12 | P a g e
  13. 13. Human Resource Consulting Human resource consulting is an $18.4 billion industry that has emerged from management consulting and addresses human resource management tasks and decisions. HR Consultants are responsible for assisting clients with strategically integrating effective HR processes, programs and practices into their daily operations. Their role is also to maximize the client's performance related to human resources by introducing or marketing "best practice" products or services as well as to provide periodic feedback to clients regarding their performance related to annual management objectives. To accomplish this, the HR Consultant may need to perform needs assessments or audits and make recommendations or proposals, coordinate the creation and implementation of an action or corrective plan, and when required, organize and coordinate cross-functional Human Resource teams to assist the client with developing and implementing performance improvement corrective plans, programs or processes. Overview It include everything from designing an employee evaluation and compensation system to conducting organizational effectiveness training to helping an organization through a significant change event, such as a merger. HR consultants often work as long and travel as much as their counterparts in general management consulting. Representative firms include Accenture's Change Management Group, Buck Consultants, Hay Group, Hewitt Associates, Mercer Human Resource Consulting, Towers Perrin, and Watson Wyatt. While outsourcing consulting was the bread and butter of many firms over the past few years, that are all changing. The BLS expects consultants in business, technology and health care to enjoy a whopping 60 percent growth rate between now and 2014-more than four times the cross-industry average of 14 percent, and making it the fifth-fastest growing employment segment. Increased profitability reported by top firms bodes well for fuelling that growth. With a tight labour market, it's actually cheaper and easier to hire specialized expertise in the short term than it is to try to find an appropriate staffer to bring on-board. The BLS says that the growing number of businesses means increased demand for advice in all areas of business planning as consultants draft business plans and 13 | P a g e
  14. 14. budgets, develop strategy, and determine appropriate salaries and benefits for employees. Some of the key areas of growth include: • Location and marketing planning for franchised restaurants and retail stores. • Logistical consulting, mapping the most efficient links between suppliers and customers. • Human resources and workplace safety experts who can help companies navigate increasing federal, state and local employment law, as well as how companies can better attract and retain talented employees. • IT consultants who can help companies take advantage of technology. • Environmental compliance and "green" consultants who can help businesses navigate stiffer environmental laws and regulations, while helping companies find ways to be more sustainable, which is of increasing importance to customers. Core fields of HR consultancies: • Human Capital including remuneration (also called total rewards), employee rewards and incentive programs, and talent acquisition and management • Health & Benefits; i.e., orchestrating optimal employee health plans with the carriers themselves • Mergers & Acquisitions, examining fit across culture, job-type, and transaction costs, etc. • Communication, including surveying employee attitudes, satisfaction, engagement, and other employee behaviours • Retirement • Recruitment process outsourcing Well Known Companies in the Field: HR consultancies vary in their ranges of services and sizes, with many consultants and academicians breaking off to form their own practices. In 2007, there were 950 HR consultancies globally, constituting a USD $18.4 billion market. Major HR Consultancy firms included: • Aon plc • Deloitte • The Hay Group • Hewitt Associates 14 | P a g e
  15. 15. • Mercer • PricewaterhouseCoopers • The Segal Company • Towers Perrin • Watson Wyatt Worldwide Aon and Hewitt Associates have since merged to form Aon Hewitt; Towers Perrin and Watson Wyatt Worldwide have combined to form Towers Watson. 15 | P a g e
  16. 16. Big Five The Hay Group Hay Group is an American global management consulting firm based in Philadelphia, Pennsylvania, with 85 offices in 47 countries as of 2006, having 2,600 employees Established in 1943, the firm was purchased in 1984 by Saatchi & Saatchi, but returned to private ownership through a management buyout in 1990. Hewitt Associates Hewitt Associates was an American provider of human capital and management consulting services. It operates 500 offices in 120 countries providing consulting, outsourcing, and insurance brokerage services. Hewitt was founded in 1940 and ceased to exist as an independent entity at the completion of its purchase by the Aon Corporation in October 2010. Hewitt's operations were merged at that time with some elements of Aon's consulting arm to become a new subsidiary of the Aon Group called Aon Hewitt. Mercer Mercer is an American global human resource and related financial services consulting firm, headquartered in New York City. Mercer is one of the largest consulting firms in the world, operating internationally in more than 40 countries with more than 19,000 employees. Mercer is a subsidiary of Marsh & McLennan Companies. 16 | P a g e
  17. 17. Towers Perrin Towers Perrin was a professional services firm specialising in human resources and financial services consulting, which merged in January 2010 with Watson Wyatt to form Towers Watson. The firm was a provider of reinsurance intermediary services and is active in the actuarial consulting arena with its Tillinghast insurance consulting practice. Watson Wyatt Worldwide Watson Wyatt Worldwide, Inc. was a global consulting firm, which merged in January 2010 with Towers Perrin to form Towers Watson. The firm's services included managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial service companies; and delivering related technology, outsourcing and data services. Its principal operating subsidiary, Watson Wyatt & Company, is a human capital consulting firm with operations in the Americas, Europe and Asia Pacific. Its corporate offices are in Arlington, Virginia. As of January 2009 Watson Wyatt Worldwide had 7,700 employees in 106 offices located in 32 countries around the world. On June 28, 2009 it was announced Towers Perrin Forster & Crosby Inc and Watson Wyatt Worldwide agreed to merge into a new publicly traded company called Towers Watson; the merger was completed in January 2010. 17 | P a g e
  18. 18. Indian Consultancy Industry Overview India has been globally recognized for its fast paced development. The service sector has been growing at a fast pace and now contributes more than 50% to the GDP. Propelled by the increasing demand for consultancy services, both for domestic and foreign firms, a study by Assocham pegs the consulting sector in India to grow at an annual rate of 30 per cent, progressing rapidly towards becoming a Rs17,000-crore industry by 2014. According to Assocham (The Associated Chambers of Commerce and Industry of India) president Venugopal Dhoot, the US, the UK, Japan, China, Saudi Arabia and Gulf nations acknowledge the competence of Indian consultancy firms, with demand growing in the EU as well. He cited the competitive edge of these firms over their counterparts in the ASEAN countries as the reason for their preferred status. Indian consulting companies have strong capabilities in areas like civil engineering, telecom, power, metallurgy, chemical and computer software. Largest concentration of consultancy organisations is in the four metropolitan cities: Delhi (25.7%) has the highest number of consultancy organisation among four metropolitan cities followed by: Mumbai (25.5%) Chennai (12.1%) Calcutta (9.1%). Strength & Weakness of Indian Consultancy The major strengths of Indian consulting organizations include professional competence, low cost structure, diverse capabilities, high adaptability and quick learning capability of Indian consultants. The major weaknesses of Indian consulting organizations, which has hindered the export growth of consulting sector in the country, are low quality assurance, low local presence overseas, low equity base, lack of market intelligence, low level of R&D Trends Fast Growth: The business world is desperate for consulting help. With excess staff being cut down, most organizations lack the technical, strategic and project 18 | P a g e
  19. 19. management skills to handle the benumbing rate of technological and market change. The consulting industry is trying its best to accommodate the demand. Big consulting firms are inhaling new employees, gulping up smaller firms and merging with peers. One stop for all your solutions: In addition to a boom in the number of consulting firms, the size of individual firms is growing in response to another industry trend: one-stop shopping. Providers that can't compete on size will still try to offer one-stop shopping by outsourcing a chunk of a client's project to another firm while maintaining responsibility for the overall project. Knowledge management tools, best practices databases and the Internet make it possible for consultants to draw upon the knowledge of every consultant in the organization as many as 27,000 people in a firm like PriceWaterHouseCoopers, for example. Shortage of people: The greatest threat to the growth of consulting firms is their inability to get enough qualified people. Some firms are already devising creative solutions such as launching their own accredited MBA programs - geared toward the specific needs of consultants. Smart people are continuing to gravitate toward the consulting profession, especially with its heightened demand and visibility, not to mention inflated salaries. In a down economy, highly successful companies will invest more in customers, not less. Companies will compete for customer share, not market share. Companies will realize customer satisfaction doesn't translate to loyalty and will stitch their customer channels together. And finally, companies will shift to a long- term focus. Only one thing is for sure – the only thing that is constant in the consulting industry like any other industry is change. 19 | P a g e
  20. 20. Consultancy Firms in Ahmedabad, Gujarat. Prime Placement & Manpower Services They started in 2005 and have come a long way in providing quality manpower to different verticals. They cater to all the levels of manpower needs in the organization. Working with them is an added advantage as they also provide the outsourcing services, labor laws consultation that enables you to have total manpower solution at one place. Team: They are being managed by professionally qualified, long experienced team members in the field of Personnel, Administration, Legal and HR. The team has diverse knowledge and know-how of different industries. This enables them to understand the requirement as well as serve you better. Core Vertical: • Cement • Pharma • Chemical/Paint/Oil • FMCG • Electronics • Ceramic and Glass • Engineering • Power Plants • Service Sectors and others. Garima Placement Services Garima Placement Highly Specialises in all categories relating to SENIOR LEVEL, MIDDLE LEVEL & JUNIOR LEVEL positions. RIGHT job for the RIGHT person and RIGHT person for the RIGHT job is our Motto. Garima Placement Services a fast growing organization scouting human resources for its clients. It is a team of young professional having an in-depth experience of more than a decade in the service industry and proud to claim a list of 200 organisations clientele from a wide range of business and industries. Motto: 20 | P a g e
  21. 21. The main motto is to find the RIGHT job for the RIGHT person and RIGHT person for RIGHT job Havoc Job Consultants Missions Havoc’s primary focus is to provide quality services along with various beneficial policies. This has been achieved through implementation of our formal organizational structures and strong co-operation among the employees there by attaining the highest level of professionalism. They are not different from other entrepreneurs as far as dreams (still dreaming) are concerned. They have had numerous day dreams. Most of them graduated as visions, out of which few have been executed. And duly enhanced with all your support, our efforts will revolve around the same nucleus of dreaming, thinking, implementing and achieving. • Career mosaic Career Mosaic is an ISO 9001-2000 certified organization and a premium-consulting firm, engaged in the business of offering a full spectrum of services in the area of Corporate Recruitment and Global Education. The Career Mosaic Team comprises of highly motivated and experienced professionals engaged in Career Counselling, Business Development, Corporate Alliance, Channel Partnership and HR Strategy Consultation. As India’s leading “Admissions in USA” Consulting firm, with core activities of guiding and assisting students on University Selection, Application, Admission & Visa procedures for higher education in USA, we aim at bringing the option of studying in USA to the doorstep of every student, by making it easy, affordable and devoid of cumbersome procedures. The Corporate Recruitment division offers human capital services, with a focus on providing Executive Search, Recruitment, Training and Temporary Staffing services to client organizations. At Career Mosaic, we believe in the power of people. HIGHHEADS Management Consultants With a humble start in 2004 in Ahmedabad, HIGHHEADS Management Consultants have come a long way with opening up of three offices in India and over 150 National & International clients. It have proved our mettle in the Manpower Recruitment 21 | P a g e
  22. 22. Industry and have been involved in Recruitment / Manpower / Management Consultancy to industries as IT / ITES, Consumer Durables, FMCG, Textile, Hotels & Hospitality, Couriers & Logistics, Telecom, Retail, Engineering etc. High Heads promises both, its clients and candidates, the most transparent professionals’ practices, maintaining strict confidentiality in its operations. It believes in leaving a mark in wherever it goes, whatever it does and whomsoever it deals with; ensuring a Win-Win situation for everybody. United HR Solutions Private Limited Executive search company, catering to senior and mid-level managerial grade, manpower requirements of companies in Africa, India and abroad. Year of establishment: 1986 Legal status of firm: Private limited company Nature of business: Service Provider Number of employees: 26 to 50 people Turnover: Rs. 50 Lakhs-1 crore Trade membership: Members of executive recruiters association. Members of IMCI Members of AMA Anything HR Solution The focus is on complete gamut of Human Resource Management including recruitment and HR services Like, Recruitment consultancy, Staffing Services, Placement Services, Talent Acquisition, Head Hunting, Payroll Management, Exit Formalities, Pre-hire and hire, HR legal compliance etc. They are going to guarantee you to close your requirements within 60 days, else they will close that requirement for FREE, and that’s their commitment. They are here to change the way the business is happening today! They are an emerging organization with a different approach toward the HR & Recruitment business. At this stage, they can assure you that, they are committed to change the perspective of Industry about HR Outsourcing business. They are going to stand by our clients for their Recruitment & HR needs and share their burden. 22 | P a g e
  23. 23. Himalaya Management Consultancy With the wide spread network, professionally managed Himalaya Management Consultancy is well reckoned as a widely preferred Placement Consultant. Located in Ahmadabad city of Gujarat, we offer our premium services such as Placement Services, Career Consultancy, Human Resource Consultancy, and Manpower Recruitment etc. With the working slogan of ‘Serve Those Who Deserve’, we have served several Job Recruiters as well as Job Seekers in Ahmadabad, Baroda, Surat, Mumbai, Delhi, Calcutta and several other cities in India. In a short time span, they have built close contacts with several reputed associates and companies that help us in offering more job opportunities to more candidates. They also have rich database of the candidates that are selected on the basis of their qualifications and intelligence. They understand the value of time and strive to meet our commitments of serving the clients with the best and maintain long-term relationships with them. Owing to our positive approach and serving the clients with the satisfaction, they have positioned themselves as a trusted Placement Consultant in Ahmadabad. Arrow Recruitment Consultant Pvt Ltd With over a decade of experience in the placement and recruitment industry, Arrow Recruitment Consultants Pvt Ltd has provided its services over the years in creating an effective link between the job provider and the job seeker. Based in Ahmedabad, Gujarat, they are counted among one of the leading Human Resources and Staffing Solutions Companies well-known for offering gamut of services such as HR Consultancy, Mass Hiring Services, Executive Search Services and Employee Referral Check Services. Established in the year 1995, they are a Human Resources and Staffing Solutions Company, providing organizations with solutions & services to meet their workforce needs across the world. They help our customers locate the best talent, enabling them to retain their competitive edge and sharpen their focus on core strengths. They strive hard to find the right employees with the right skills, to meet our clients’ needs. They have fifteen plus years of management experience in providing recruitment, staffing, and assessment and selection services. 23 | P a g e
  24. 24. At Arrow Recruitment Consultants Pvt Ltd, they have successfully put to work hundreds of employees annually through two business divisions: Professional Services & Staffing Services. We work hard, and strive to be the benchmark in providing quality employment opportunities. Genius Placement Service About Us. Genius Placement Service., a Ahmedabad based organization, a subsidiary of Nirman IT Junction Pvt Ltd, is a specialized independent consulting firm providing Manpower Recruitment, Training & HR consulting services to all the big IT and non- IT companies across the India, helping them source best professionals for both their onsite / offshore requirements. Service. Other than this our HR Consulting team is expert in helping corporate into HR audit, HR Policy & Manual design, Organization structure, competency mapping, assessment & development centre design & implementation, PMS etc. Recruitment / Placements They undertake all your recruitment needs and fulfil it according to your specifications. They are able to cater to your recruitment needs for. • Senior Level Recruitment • Middle Level Recruitment • Junior Level Recruitment • Fresher, Technical and Experienced Candidates • Skilled/Semi-skilled/Unskilled Candidates Recruitment Process • Receipt of client needs • Assessment of Needs • Screening and counselling of suitable candidates from different sources • Forwarding of updated bio-data to the client company • Short listing of bio-data from the client company • Communication and Interview Management • Selection and Offer by the client 24 | P a g e
  25. 25. • Offer Confirmation • Reference check and compensation check of selected candidates • Joining and Final Placement • Post Recruitment Follow-up and Feedback Pharmahood consultants About Pharmahood consultants has evolved as one of the fastest growing Human Resource solution brand with expertise in services like ‘Recruitment Consulting’ and ‘Comprehensive Recruitment Solution’ across the Globe for the countries like Middle East, Africa and South East Asia. Since its inception in 2005, a Pharmahood consultant was termed as the same, for catering to only senior profiles in Pharmaceuticals. There unique approach with all 3 quotients – Intelligence, Emotional and Hardworking has referred us to the precious clients across the different industries. Hence it has helped them to bag exclusive recruitment rights for many MNCs into various different industries like Power, Energy, Healthcare, Retail n FMCG, Financial services, IT etc. There forte is exclusive search and head hunting for senior and middle management profiles. There USP is their ability to understand and bridge the gap between candidate abilities and corporate needs thereby becoming instrumental in changing talented individuals into human assets for our esteemed clients. Mission Their mission is to forge strong, sustained relationships with our clients by creating value for them. Their success is defined by the trust shown by our clients who come back to us thus reinforcing their faith in our high-quality services. Vision They at Pharmahood consultants aims for one of the most respected companies in recruitments, is committed to being a recognized, trusted and a preferred partner in simplifying hiring process of their prestigious clients across the Globe. Philosophy 25 | P a g e
  26. 26. They adhere to a code of professional ethics with an emphasis on honesty and integrity — handling their relationships with clients, candidates and colleagues with great care. They ensure complete transparency with all their clients and candidates abiding by core values of confidentiality. They believe in partnerships & building businesses. Their commitment is visible in the fact that they are amongst the top 3 preferred vendors with all our core clients. Their work ethos is derived from our • Aspiration: A long term Vision and the perseverance to achieve it. • Achievement Orientation: Willingness to take on challenging goals, to stretch themselves, and to be tough (but fair) while competing in the market. • High EQ: Manifesting itself in mutual respect, openness, transparency in our dealings, and empowerment. 26 | P a g e
  27. 27. Introduction to study In context of the changing global economic environment there is a need to assess the relevancy of academic output from higher academic institutions to the industry specially the country like India. Every year approx. 2.5 million graduates are being produced by the academic institutions and most of them are being absorbed by the industries at various cadres as rungs to channelize the wheel of our economy. The main purpose of this study is to analyse the be-fittingness of these RCGs to the industries and to assess the gap, if any and this gap can be filled by adopting the suitable measures by academics and industry both. How the academia should design its syllabi and pedagogy so that it can match with the current industrial requirements of this globe. To attain this target, a close collaboration between institutions and industry is very essential in order to minimize the obsolescence of academic output from the institutions. Why Do We Need To Bridge The Gap? The reason that there are so few jobs to be found in academe is not because there are too few colleges, universities, departments, or programs. If anything, there are too many. The problem is that the number of available jobs is vastly outnumbered by the number of people applying for them. There are simply too many PhDs produced every year for the higher education establishment to absorb them all, despite the absurd degree to which it has absorbed them into jobs that have nothing to do with traditional research and teaching. Current Status of Cooperation between Academia and Industry • Academics are driven by their conferences and technical journals and their need to publish. • Academics seldom attend industrial conferences as they feel this is below their standard. • Academics look down upon industrial newspapers and magazines. • Academics are not aware of the problems and constraints of industry. 27 | P a g e
  28. 28. Present Situation of Students in India: • India’s Higher Education system adds about 3.5 Lakh Engineers and 25 Lakh University Graduates every year. • 50 Lakh of them remain unemployed • MNC finds only 15% of Indian Engineers and 10% of Management Graduates employable (Survey by McKinsey Global) • Scarcity of 5 Lakh Workers by 2012. Reasons behind the Gap between Academia and Industry • Academics and Industrialists have a different mindset, therefore both are living in two different worlds. • Both Academics and Industrialists are pursing different goals entirely. The Academic is striving for recognition from his or her peers. The Industrialist is striving to survive. • Industry thinks in terms of short range goals whereas the Academic has a long range perspective. • Industry prefers proven solutions with a low risk, whereas Academia is interested in creating new solutions with a high innovation rate. • Industry seeks the minimum solution to minimize their risk, whereas Academia strives for a maximum solution to maximize their recognition. • Industry is mainly concerned with costs. Academia could care less about costs, it is mainly interested in the benefits (and prestige). Industry Needs and Expectations The Industry has the highest expectations for newly hired MBAs in the area of – Attitudes, Skills and Knowledge. The needs of the industries from the freshers are: Proper attitude, Must be committed, dedicated to work, self-disciplined, and self- motivated. Showing an aptitude and willingness to learn, Strong analytic, listening and communication skills. Must be able to work in a team and collaborate. Basic knowledge of the organization and processes within the organization. Understanding of products, solutions, and services – including those of competitors and Consumer behavior. Industries main three criteria are only: Attitude, Skills & knowledge. 28 | P a g e
  29. 29. Students Expectations: • Great Salary. • Good Position. • Mobility. • Perception Disorder. • Degree alone is sufficient for getting job. • High salary - White Collar job. View point of Industrialists over academic studies (Focus over MBA curriculum): As a job giver the employees are well known about the curriculum of the studies which all the institutions are carrying on. As knowing about the studying pattern of the universities some industry experts say that India’s MBA curriculum is flawed because of its emphasis on rote learning rather than on hands-on experience. The “one-size-fits-all curriculum” doesn’t give students a chance to get an in-depth understanding of their area of specialization. Industry-specific skills and vocational training is “glaringly missing” in most Indian business schools. A frame Work for enhancing Skills: As the one of the main criteria of industries for selecting fresher is SKILL. It is necessary to build a source of various skills sets required to create “Industry readiness” or “Job fitment” in the market today. The MBA graduates should be made aware of the skill gap carry on around them and the way to strengthen it. This frame work represented below helps in identifying various gaps which is often not addressed by an seeking candidate. This is an attempt made to analyse the skill sets required for the future work force, that is the current generation. The following conceptual framework throws light on following skill sets which is the need of the hour. 29 | P a g e
  30. 30. Identify the skill gaps in the following skillsets The word “Employability skills” is a wide spectrum, used in the industry today. However, it can be narrowed into two distinct terms Soft Skills and Technical Skills. Mentioning to Soft Skills which by & large an umbrella term relates to Behavioural skills, Communication, Team dynamics. Interpersonal and Intrapersonal skills, has definitely been the order of the day. The gap has widened so much that the industry is facing a huge challenge to get the right people. The next skill set refers to the Technical Skills which adhere to a thorough usage of MS word & Excel. This area is left high and dry because most of the graduates do put emphasis on updating these tools. However, today there is a need for updating on various other software & ERP tools like HRMS, SAP & people soft, which is thoroughly used in the industry. So bridging the above said skill gaps is very critical in today’s competitive world. The other skill gaps identified in terms of “Talent Gap” specifies to alertness and flexibility of the workforce. The mind-set to adapt to the changing world and honing the skills continuously is needed. As challenges are a package deal in the workplace, individuals should be equipped to deal with it. The last aspect of the skill-gap conceptual framework is the information gap. This includes understanding the industry, the products and services, clients, business transaction, strategy involving competitors etc. Moreover, given the changing customer centric world, understanding the best and the worst practices and the evolving dynamics of the external environment should be comprehended by the workforce. 30 | P a g e
  31. 31. Thus the need to identify the skill gap and bridging them becomes at most important. This conceptual frame work throws some light to identify the existing skill gaps. There can be various awareness program created by the academia as a placement preparatory program and administered to the upcoming professionals with the collaboration of such consultancies. The need to address the grass root levels is at most important. The fanciful terms like “Industry readiness” and “Job fitment” cannot be just created in a jiffy. It can be worked out only if the gaps are identified and analysed. Hence there is an available market for training in the realistic purview. For success and sustainability the first phase is to identify the required skills, followed by user friendly learning system with appropriate content and delivery from the academic perspective. This can be a regular cycle which will lead to sharing and learning process thus the awareness program can be initiated. In a outer layer this process might help in igniting a spark in the minds of the young executives, thus they might gear up to meet the industry needs. We can hope towards moving to the concept of industry readiness if the training need analysis is realized and right involvements are administered by the institutions. 31 | P a g e
  32. 32. Literature Review.  Rajsekaran and Rajasingh (2009) have concluded that the perception gap between industry and faculty must be bridged to improve the employability of students and enhance the quality of higher education. Industry leaders presume that only 15% of people coming out of Indian colleges are employable. Green defined the quality of higher education as "producing graduates to meet the human resources needs of an organization in the business, industrial and service sectors."  Winbladh (2004) has focussed on the requirement engineering that involves capturing, structuring, and accurately representing the client's requirements in a manner that can be effectively implemented in a system that will conform to the client's specifications. He also suggested project based & collaborative learning to upgrade the students. He concluded that new graduates are ill equipped to enter and survive a market with recessions because they do not exhibit the qualities the qualities that the industry treasures.  Hamatteh and Jufout (2003) described that a Consultancy firm comprised a team of skilled consultants to match the demands and needs required by the labour market with the educational portfolio. This must be implemented by regular analysis, skill level determination, revision of the curriculums and finally to follow up and control, on the basis of individual specialization. This model may reduce the expenses of pre-employment training, which financially overburden the industrial sector & increases the proficiency level of graduates.  Authors: Isaac Lemus Aguilar &Ernesto Mosso Vallejo Article: Identifying the skills for consultants working in project-based organizations (A glimpse into the Mexican consulting industry), 2007 Even though and when most people share a common understanding of skill, defining precisely what it means is quite problematic (Dench, 1997). The author finds a gap when pointing that the real difficult part when trying to explain what does skill mean is that there is a lack of a common terminology, connotations and even historical 32 | P a g e
  33. 33. traditions behind the word. And it should not be a surprise if it is realized that for instance, employers, practitioners, job applicants and academics, they all use different vocabularies from key skills to core skills and competences, then it seems to be confusing to understand what this is all about. And this problem is well identified by McKenna (2004) who explains that whatever that could be found written is, by definition, interpretations of interpretations, this means that all definitions reflect the interpretations of the authors as they interpret the interpretations of the researchers whose work they report. Moreover companies interpret skills their own way and Business schools do so as well, then at the end it seems not to be neither the right or wrong definition of skill, is to understand from which perspective we are to define it. For instance, Homer (2001) even explains that there are skills dictionaries available which include skills in sales, management, IT, marketing, accountancy, engineering and HR which are included within the available competency libraries.  Author: Caroline Scheepmaker & Nannette Ripmeester Article: Employability: Matching employer needs with students capabilities. 12, December Author concluded that for being a suitable candidate It is not always about subject- matter skills, or even generic skills. Students need to develop the flexibility and attitude to always be looking for the next development, for innovation, for adaptability, both in their field of expertise and in their personal and career development. They also need to be able to demonstrate all of their acquired skills, thus also enabling employers to pick the most appropriate candidate. Students have a difficult time deciphering vacancies, understanding what jobs actually entail, in addition to knowing what they could do with their degree, especially when entering a market foreign to them. It is not that there are no (suitable) jobs out there; it’s just that job market orientation is complicated. So the Consultancy firms organize seminars and workshops to bring students and professionals together to clarify student options and simultaneously offer organisations an opportunity to learn about what attracts students.  Robert w. Goldfarb, a management consultant and author (11/11/12) New York Times Author concluded that instead of finding shared interests linking those who need work and those who need workers, he uncovered a serious divide that limits the success of both after having a conversation with about a dozen of CEOs of different 33 | P a g e
  34. 34. industries along with more than 135 graduates. According to author the perception of CEOs regarding the freshmen is that they are lacking the skills and discipline required in today’s workplace. Instead of having records of part time jobs and excellent grade by the fresh graduates which seems to make them promising candidates but still executives countered that recent graduates have not fulfilled the requirements and are not prepared for the complex jobs that companies must now fill. According to author Robert w. Goldfarb best managers and best employees enter the workplace with broad educations and not with the technical degrees. Authors says, “it was a intuition that helped them ascend their abilities to suspect a flaw even when data appeared correct, to read the mood of customers and employees, and to sense potential in a product when others turn their nose up at”.  Kaushal Mandalia, founder and director at insight HR and training consultants (April 8, 2012) The author found that the industry has the highest expectation for newly hired candidates in the area of-attitudes, skills, and knowledge. Industry expects proper attitude, commitment, dedication, self-discipline, strong analytic, listening and communication skill, aptitude and willingness to learn, knowledge of the organization and processes within the organization from the selected candidates. The author states that they hire people for attitude and train them for the skills. 34 | P a g e
  35. 35. Problem Statement A fresh graduate or job seeker has some expectations from the organization in which they want to make their career. And organizations also have some expectations from the new candidate for designation. Consultancy deals with both of them, new job seekers (management students) and industries. This report helps in understand the how or what role consultancy play in bridging gap between the expectations of both management students and industry. Objective 1. To find the factors those are responsible for discrepancy between company expectation and management students. 2. To identify the underlying factors for gap between academic output and industrial requirement. 3. To discuss about the current need of industry in terms of competent. 4. To explore the possibility of having customized curriculum as per the need of industry. 5. To filter promising candidate having broad knowledge as well as technical degree from the pool of academic students. 6. To enable students to realize and articulate the skills, by connecting them with companies, informing them of employer expectations. Limitations of Study Every gift is a curse. Though a project helps us to know interesting and informative things, it is inclusive of some limitations. The limitations of our study were: • The respondents may or may not have provided a valid reply. • An even bigger sample size would have given a lot more analytical scenarios. 35 | P a g e
  36. 36. Research Methodology Research design A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. Decision regarding what, where, when, how much, by what means concerning an inquiry or a research study constitute a research design. As such the design includes an outline of what the researcher will do from writing the hypothesis and its operational implication to the final analysis of data. There are different types of research design. 1. Exploratory research design 2. Descriptive research design 3. Analytical research design Research design used is descriptive Descriptive research is a fact-finding investigation with adequate interpretation. It is a simplest type of research and is more specific. Mainly designed to gather descriptive information and provides information for formulating more sophisticates studies. Data collection Methods: The task of data collection begins after a research problem has been defined and research design/ plan chalked out. While deciding about the method of data collection one should keep 2 types of data: Primary Secondary data. Primary data are those which are collected afresh and for first time. (original data) Secondary data are those which have already been collected by someone else 36 | P a g e
  37. 37. and passed through statistical process. Primary data We collect primary data during the course of doing experiment in an experimental research. There are various ways of collecting Primary data: Observation method Interview method Questionnaire Schedules Survey Method In our research we use questionnaire method. The term questionnaire usually refers to a self-administered process whereby the respondent himself reads the question and records his answer without the assistance of an interviewer. Secondary data: Secondary data is data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records and data collected through qualitative methodologies or qualitative research. Primary data, by contrast, are collected by the investigator conducting the research. Secondary data analysis saves time that would otherwise be spent collecting data and, particularly in the case of quantitative data, provides larger and higher-quality databases than would be unfeasible for any individual researcher to collect on their own. In addition to that, analysts of social and economic change consider secondary data essential; since it is impossible to conduct a new survey that can adequately capture past change and/or developments. Sources of Data Data is collected from both, Secondary and Primary. Data is collected from the questioner and personal interview as a primary data. For secondary data different sites, articles, research papers and book are being referred. 37 | P a g e
  38. 38. Population Data is collected through 13 consultancy firms; population for the research is the employees of those consultancies. Sample size The total sample size is 202. Total employees of 13 consultancies. Sampling Method Stratified sampling method is used for the research work. Sampling Frame Sampling Frame consist of employees of consultancy firms and management students of Ahmedabad city. Date Collection Instrument For data collection, Questioner is being used consist of various questions regarding the research topic. Name of consultancy approached Prime placement & manpower services, Garima placement service, Big idea consultancy, highheads management consultancy, united HR solution pvt ltd., Anything HR solution, Himalaya management consultancy, Arrow recruitment consultant pvt ltd., Genius placement service, Pharmahood consultants, HR insights, ANS consultancy , Havoc job consultancy. 38 | P a g e
  39. 39. DATA ANALYASIS AND INTERPRITATION 39 | P a g e
  40. 40. Introduction The Questionnaire Contains 16 questions and some Demographic information. The Graphical analysis and interpretation of the same are done following in different charts. Demographic Data: Age: The above chart shows that there are 48.02% employees in the age group of 20-30, 26.19%in the age group of 30-40, 5.56% of employees in the age group of 40-50 and 0.00% employees on age more than 50. 48.02% 26.19% 5.56% 0.00% 20-30 30-40 40-50 More Than 50 40 | P a g e
  41. 41. No. of Experience: The above chart shows that there are 22.22% employees who have experience less than 1yr, 43.25%of employees who have experience of 1-2 yrs., 11.90% employees who have experience of 2-4yrs and 2.38% employees having experience more than 4yrs. Gender: As we can see from the chart that there are 39.68% of female and 40.48% of male employees working in the consultancy. 22.22% 43.25% 11.90% 2.38% Less than 1yr 1-2 yrs 2-4yrs More than 4yrs 39.68%40.48% Female Male 41 | P a g e
  42. 42. Ques1. What are the functional area of your consultancy? From the above chart we can see that there are different functional areas of a consultancy as shown above 21.27%in banking, 75.86% in HR, 60.59%in finance, 41.87% in marketing, 22.17% in IT, 10.83% in academic and 18.23% in others. 22.17% 75.86% 60.59% 41.87% 66.50% 10.83% 18.23% Banking HR Finance Marketing IT Acadamics Others 42 | P a g e
  43. 43. Ques 2. Do you recruit management students in your consultancy as trainee & junior level post ? From the above graph we can analyze that 66.17% consultancy recruit management student in their consultancy as trainee & junior level post whereas 13.89% do not. 66.27% 13.89% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No 43 | P a g e
  44. 44. Ques.3 Do you recruit management students for your client at corporate level? As shown in the graph we can analysis 64.19%constltancy recruit management students for their clients at corporate level whereas 15.87% do not recruit. 64.29% 15.87% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No 44 | P a g e
  45. 45. Ques 4. The students are employed on what basis? From the above graph we can analyse that 9.92%stuedents are employed on contractual basis, 21.03%students are employed on permanent basis and 49.21% on both contractual and permanent basis. 9.92% 21.03% 49.21% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 45 | P a g e
  46. 46. Ques 5. If on contract basis, the contract between: From the above graph we can analyse that 9.31% contract is between consultancy and candidate whereas 54.76% of contract is between industry and the candidates. 9.13% 54.76% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No 46 | P a g e
  47. 47. Ques 6. Fresher's are selected on the basis of From the above graph we can analyse that 15.08% of fresher’s are selected on the basis on academic performance, 43.15% on KSAO’s and 21.83% on both. 15.08% 43.25% 21.83% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% Yes No Both 47 | P a g e
  48. 48. Ques 7.Do you tie up with academic institutions for collaborative skill programs? From the above graph we can analyse that 27.38%consultany tie up with academic institutions for collaborative skill programs whereas 51.78% do not tie up. 27.38% 52.78% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No 48 | P a g e
  49. 49. Ques 8.Do you conduct seminar and workshop for fresh candidates & pursuing candidates? From the above graph we can analyse that 29.70% of consultancy conduct seminar and workshop for fresh & purusing candidates whereas 50.40% consultancy do not conduct seminars. 29.76% 50.40% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No 49 | P a g e
  50. 50. Ques 9.Do you agree that academic should focus on practical studies rather than theory? From the above graph we can analyse that 60.32% of consultancy agree that academic should focus on practical studies, 7.54% say that they should focus on theory and 12.30% say that they should focus on both practical and theory. 60.32% 7.54% 12.30% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No Both 50 | P a g e
  51. 51. Ques 10. Do you agree that fresher’s expectations are unrealistic about the first job? From the above graph we can analyse that 64.68% of consultancy think fresher’s expectations are unrealistic about the first job whereas 15.48% do not agree with it. 64.68% 15.48% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% Yes No 51 | P a g e
  52. 52. Ques 11. Do you agree that industries give priority to the skill, attitude, discipline, articulation, and practical knowledge of a fresher? From the above graph we can analyse that 72.61% of consultancy say that they agree that industries give priority to the skill , attitude, discipline, articulation, and practical knowledge of a fresher whereas 7.54% do not agree. 72.62% 7.54% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% Yes No 52 | P a g e
  53. 53. Ques 12. Do you agree that demand of jobs in market is less as compared to supply of management students? From the above graph we can analyse that 55.16% of consultancy agree that demand of jobs in market is less as compared to supply of management students whereas 25.00% disagree. 55.16% 25.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No 53 | P a g e
  54. 54. Ques.13.Do you have direct experience in managing people and teams? From the above graph we can analyse that 50.79% of employees of the consultancy have direct experience in managing people whereas 29.37% do not have direct experience. 50.79% 29.37% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No 54 | P a g e
  55. 55. Ques 14. Are you played a liaison role/healthy relation with clients and organization that you work with? From the above graph we can analyse that 56.35% of employees play a liaison role/healthy relation with the clients and organization with whom they work whereas 23.81% do not agree. 56.35% 23.81% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% Yes No 55 | P a g e
  56. 56. Ques 15. Working through this table, consider what are your key areas of expertise and rate the same priority wise, that you serve to your client (Candidates and Industry both) as a human resource professional and Consultants. As from the above graph it is seen that the more priority is given to Recruitment and selection, Remuneration and Strategic HR advice including development by consultancies. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Team development/teambuilding Recruitment and selection Facilitation and training Learning and development Remuneration Strategic HR advice incl.development and… Performance management incl. poor… Leadership development incl. coaching Organizational review and structures Diversity management & Employee/industrial… Culture/Change management HR strategy and planning incl. workforce planning Team develop ment/te ambuildi ng Recruit ment and selectio n Facilitati on and training Learning and develop ment Remune ration Strategic HR advice incl.dev elopme nt and impleme ntation of strategy and policies Perform ance manage ment incl. poor perform ance/dis cipline Leaders hip develop ment incl. coachin g Organiza tional review and structur es Diversity manage ment & Employe e/indust rial relations advice Culture/ Change manage ment HR strategy and planning incl. workfor ce planning High 24.14% 89.66% 19.21% 18.72% 42.36% 7.39% 1.97% 0.00% 0.00% 0.00% 0.09% 44.33% Neutral 10.34% 9.85% 33.00% 28.57% 30.05% 0.99% 5.91% 6.90% 2.46% 2.46% 0.00% 11.82% Low 18.72% 0.00% 9.85% 7.39% 4.43% 1.97% 0.00% 9.36% 4.43% 0.00% 2.46% 19.70% High Neutral Low 56 | P a g e
  57. 57. Ques 16. Working through this table, consider how do you Market your expertise & Contact to your potential clients, Rate the same priority wise. As from the above graph it is seen that the more priority is given to Cold calling, Mail out, and contacting existing colleagues/contact by consultancies. 0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%90.00%100.00% Contacting existing colleagues/contact Participating in networks (eg. Business Networks) Seeking referrals from colleagues/contacts for… Making public presentation (eg. Business seminar,… Mail out of information on Company and… Cold calling (contacting people who you do not… Advertisement (in Newspaper, Social networking… Contacting existing colleagues/co ntact Participating in networks (eg. Business Networks) Seeking referrals from colleagues/co ntacts for follow up Making public presentation (eg. Business seminar, conference paper etc) Mail out of information on Company and candidates Cold calling (contacting people who you do not have connection with) Advertisement (in Newspaper, Social networking sites etc) High 59.11% 30.54% 31.53% 8.37% 62.07% 31.03% 37.44% Neutral 12.32% 26.60% 35.96% 8.87% 6.90% 25.12% 10.84% Low 17.73% 19.70% 10.84% 24.14% 0.00% 6.90% 32.51% High Neutral Low 57 | P a g e
  58. 58. Results & Findings 58 | P a g e
  59. 59. Findings • Major number of the consultancies which we have targeted are working in the IT and the HR area. Very low of the firm are working in academics and other areas. • Most of the consultancies recruit fresher’s in their consultancies at the junior level. But as trainee they are not priority. • Almost most of the consultancies are placing the new candidates or freshers at the corporate level i.e Bottom level, Middle level, and top level. • Generally most of the consultancies place and recruit in their own consultancies to the students on both permanent and contractual basis. If the consultancy place a student in industry over contractual basis the contract is between industry and candidate. • According to the consultancies the freshers are placed based on both academic performance and KSAO’s. • There are very few consultancies who collaborate with the institutions for the different types of the programs. • Sometimes the consultancies arrange free seminars and workshops for the fresh candidates and pursuing students. • The consultancy emphasises on the practical studies over theoretical studies in the institutions • There are some consultancies who are agree that there are less demand of job then compare to the supply of management students. • The employees of the consultancies, to satisfy their clients sometimes creates healthy relations with them. • The consultancies give more priority to their basic work recruitment & selection and managing remuneration compared to all other their expertise activities. • Priority is given by the consultancies to the mail out, contacting to their current colleagues and cold calling for contacting with people and marketing them self. Some of the consultancies makes public presentation as in seminars, conference papers etc 59 | P a g e
  60. 60. Suggestions & Conclusions 60 | P a g e
  61. 61. Suggestions • Consultancies can launch some collaborative programs for students. • Training Programs, Certificate Programs, and workshops. • Collaboration with institution in order to help and create skilled and competitive workforce. • Such programmes which offers a range of resources and support to students, faculty and institutions, in order to provide skills in open standards, critical in a fast-paced and ever-changing industry scenario. • For eg. Such collaboration with institution is made by multinational computer technology and consulting major IBM, called ‘Drona partner programme’. • An initiative, aimed at bridging the gap between academia and industry. • Consultancies should broaden there working areas including facilitation and training & learning and development of the new students. • The consultancy should use some kind of frame work for the students or the freshers to enhance their abilities which are need for nowadays for getting a job • Students should thing realistic regarding job. And stop thinking that only academic performance will be enough to get a good job. 61 | P a g e
  62. 62. Conclusion • Study of the resource management at graduate & post graduate level in India is based on various kind of sectors as in an organization in the business, industry or service which is a vast & diversified study for students to understand the practical approach beyond the level of academic education. • Quality in accordance with the quantity engaged by employer requires a Constance process with upgraded version of information & sources which provides the better results that is needed to be applicable & understible by the students of HRM • Through practical workshop & seminars by professionals, experts & Consultancies itself. • Industry expects proper attitude, commitment, dedication, self-discipline, strong analytic, listening and communication skill, aptitude and willingness to learn, knowledge of the organization and processes within the organization from the selected candidates. • At corporate level with high efficiency and technical skilled HR engaged whereas, on the bases of potentiality & knowledge without experience, rarely been noticed by the consultancies. • A collaborative steps should be taken by both educational institutions and HR consultancies for preparing futuristic steps based on requirement of current and future demanded situations which sharpen the skills of students into professionals. 62 | P a g e
  63. 63. ANNEXURE & BIBLIOGRAPHY 63 | P a g e
  64. 64. Bibliography • Article: Identifying the skills for consultants working in project-based organizations (A glimpse into the Mexican consulting industry), 2007. By: Isaac Lemus Aguilar & Ernesto Mosso Vallejo B.Rajasekaran, S. Rajasingh (April 2009). Perceptual chasm between industry and academic leaders on the quality of higher education, Journal of academic leadership, USA, Vol 7. Kristina Winbladh (2004). Requirement engineering: Closing the gap between academic supply & industry demand, Crossroad: The ACM student magazine, 2004, 10.4. Abu Hamatteh, Z.S.H. and Al – Jufout, S. A. (2003). Educational outcomes Vs the world new industrial & economical demands: Jordanian electrical & mining sectors as a case study, Pakistan journal of information & technology, 2 (1): 78-82, 2003. Green, Diana, Ed, What is quality in higher education? Society for research into higher education Ltd. London. • Sites: http://www.eaie.org/blog/matching-employer-needs-with-student-capabilities/ http://www.nytimes.com/2012/11/11/jobs/bridging-the-hiring-gap-for-college- graduates.html?_r=0 https://www.wetfeet.com/articles/industry-overview-consulting http://www.scribd.com/doc/12998751/Analysis-of-Consulting-Industry http://www.wetfeet.com/ http://mgt.buffalo.edu/career/students/prep/research/tools/resources/consulting/indus try http://www.careercommission.com/2013/11/conceptual-framework-skill-gap-analysis/ http://blogs.wsj.com/indiarealtime/2012/12/12/study-less-than-10-indian-mbas- employable/ http://gulfnews.com/life-style/education/gap-between-academia-and-industry- 1.1221285 http://www.hindu.com/edu/2008/07/14/stories/2008071450270200.htm http://yourstory.com//2012/05/youth4work-bridging-the-gap-between-academics-and- industry/ http://blogs.wsj.com/indiarealtime/2012/12/12/study-less-than-10-indian-mbas- employable/ http://www.plunkettresearch.com/consulting-market-research/industry-and-business- data/statistics 64 | P a g e
  65. 65. Book: o Basic Research Methods – By Gerard Guthrien. ANNEXURE : QUESTIONNAIRE Dear Respondent, We are students of MBA & doing a Comprehensive Project on “Role of consultancy in bridging gap between expectation of industry and management students’’. We would request you to Kindly spent some time to fill up questionnaire. We assured you that information provided by you would be used for study purpose only. Personal Information. Name (optional): __________________________________________ Consultancy name:________________________________________ Designation:______________________________________________ Age. 20 - 30 30 -40 40 -50 More than 50 No. of Experiance. Less than 1 yr 1 -2 yrs 2 – 4yrs More than 4yrs Gender. Female Male 1. What are the functional area of your consultancy? Banking IT HR Academics Finance Others Marketing If others, Please Specify_______________________________ 65 | P a g e
  66. 66. 2. Do you recruit management students in your consultancy as trainee & junior level post ? Yes No 3. Do you recruit management students for your client at corporate level ? Yes No 4. The students are employed on what basis? Contractual Basis Permanent Basis Both 5. If on contractual basis, the contract is between Consultancy and Candidate Industry and Candidate 6. Freshers are selected on the basis of Academic Performance Knowledge, Skill, Aptitude & others (KSAO’s) Others If others, Please Specify_______________________________ 7. Do You Tie up with Academic Institutions for collaborative skill enhancing Programs? Yes No 8. Do you conduct seminars and workshops for fresh Candidates & pursuing students? Yes No 9. Do you agree the academics should focus on Practical studies rather than Theory? Yes No 10. Do you agree that fresher’s expectations are unrealistic about the first job? Yes No 11. Do you agree that industries give priority to the skills, attitude, discipline, articulation and practical knowledge of a fresher? Yes No 12. Do you agree that demand of jobs in market is less as compared to supply of management students? Yes No 13. Do you have direct experience in managing people and teams? Yes No 14. Are you played a liaison role/ healthy relation with clients and organizations that you work with? Yes No 66 | P a g e
  67. 67.  Note: For Question no. 15 & 16 please rate the option priority wise from 1 to 3, as you feel is most appropriate as per the following: 1-High, 2- Neutral, 3 -Low. 15. Working through this table, consider what are your key areas of expertise and rate the same priority wise, that you serve to your client (Candidates and Industry both) as a human resource professional and Consultants. Expertise 1 2 3 Team development/teambuilding Recruitment and selection Facilitation and training Learning and development Remuneration Strategic HR advice incl.development and implementation of strategy and policies Performance management incl. poor performance/discipline Leadership development incl. coaching Organizational review and structures Diversity management Employee/industrial relations advice Culture/Change management HR strategy and planning incl. workforce planning 16. Working through this table, consider how do you Market your expertise & Contact to your potential clients, Rate the same priority wise. Means 1 2 3 Contacting existing colleagues/contact Participating in networks (eg. Business Networks) Seeking referrals from colleagues/contacts for follow up Making public presentation (eg. Business seminar, conference paper etc) Mail out of information on Company and candidates Cold calling (contacting people who you do not have connection with) Advertisement (in Newspaper, Social networking sites etc) Thank you for your cooperation! 67 | P a g e
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