4. Management Consulting Engagement
Life Cycle
Start by
• Doing our Home work
on the client
• Helping the
Organisation to
improve their
Performance
Consultation
Meeting
• We want to Understand
the problem
• Analysis & critical
thinking
• Developing plans for
improvement
Final Deliverables
• Execution of the task
• Closing down (pay day)
• Follow up(repeated
Business & referral)
5. How can the task be achieved?
A clients wants to have someone who has the
knowledge, skills and experience to deliver their aims
and objectives.
Having back ground experience within the industry
inspires confidence within clients.
7. Being an Excellent Management Consultant
Applying a consultative approach in client meetings.
Exploring the clients concerns. i.e. Brexit
Ability to ask meaningful questions to gain
knowledge about the clients needs.
Developing solutions specific to each clients needs.
This will save them time and effort
8. Being an Excellent Management Consultant
quote “Aivar Ustinovskiy is an executive search
consultant who specialized on search assignments
at Connection Pont Search he said,
“Listen, Define, Simplify, Consult, Deliver”
My name is Kasim Ijelu and I'm to present to you what is management consulting
But 1st would like to show a quick video
Video Link
https://youtu.be/BKorP55Aqvg?list=PLzfEpenCaYWvsGsBHX66XfR1oMWDxhGl2
Your Colombo In the backstage of you mind Your asking what is going on here?
What helps is doing your homework first, before the client meeting, This will help you be more prepared to ask appropriate questions.
Even if you have extensive experience in a particular industry or sector, do some research on your client to reaffirm your understanding of the client's history, customers, goals, and competition.
In the beginning we start with
Doing our home work on the client
Helping the Organisation to improve their Performance
Middle
2: Analysis & critical thinking: actual means looking at the existing organisation problems
Understanding of the problem
Proposed methodology
Time scales & Agreed outputs
Costing
Doing a S.W.O.T Analysis should help in this process Strengths, Weakness, Opportunities, Threats
During the meeting let the client know you'll take notes this indicates you care about what he or she is saying.
Taking notes also serves as a reminder for items that require you to follow up on after the meeting.
End
3.Execution of the task and results feed back
People with a back ground experience within the industry, sector within specific knowledge give reassurance that he/ she knows what I'm talking about.
As a Fx Market Analyst my experience I come from an extensive knowledge of Technical & fundamental analysis
Clients come to me in search of greater understanding of the FX market &some times equities
They ask How can marry the two school of thought together between Technical analysis & Fundamentals
They ask me about the best way to read price action and price patterns:
What are the difference between Fx, equities, Metals and commodities
Who is best brokers for spread prices and execution
What are the latest opportunities out there for them to profit from
What's the meaning of inter-market relationship or multiple time frame analysis
Fundamentals
What made the market move today, or what will make the market move down tomorrow or next week in terms of economic reports and news announcements and its future effects.
Who are the movers and shakers and latest's company releases
Information on breaking deals
M&A whispers
Where can I get my hands on good relevant information Morning star oil price .com
i:e Oil being in down trend since June 2015 and is at all time lows for $40’s
Why is it because of the raise in bio fuels and new alternative energies and technology
Is it becasue companys like Tesla’s Model 3 Could Take $300,000 Off U.S. Gasoline Demand
the other side of the coin
Oil has now risen to $53
OPEC’s meeting in Algeria, where a Production freeze was all but agreed by its members.
As Canada is the 6th largest producer of oil production in the world with 3.59 million oil barrels a day that's a world contribution of 3.90%
And Japan is an oil dependant country
What's the inter-market relationship for Fx traders or what does that mean for speculators buy CAD/JPY
They ask me about strategies and time frames and which are the most effective.
Popular Indicators that will help them make better decision.
They look for reassurance about there emotional state of being when trading in the zone
What disciplinary techniques they can use to help them follow their trade plans.
What the latest technologies that make it trading easier, information outlets, platforms
And now what's the latest black box algorithms that work without blowing up their accounts.
And I've just recently just finished programming a semi automatic box that trades the market for the client which can be attached to a trade copier via a VPS
Which can now give traders clients more free time
As a consultant we specialise in fact finding
Learning about your clients' vision of the future.
Ask clients where they visualize their business to be one, five, or ten years into the future.
Whether the discussion centres on sales, succession planning, or diversification,
having this information allows you to provide relevant advice that will help clients realize their vision.
Applying a consultative approach in client meetings.
When I designed website site for clients it was really helpful get a good understanding of the individual and business by asking questions
Describe your target audience.
What is the purpose of the website?
What are your corporate core values and how do you express them to your visitors?
What do your current competitors’ websites have that you wish to have? Mr Andrew Errington recently wrote an article on
Why you should make your website mobile friendly. And the UXP experience of customers and your website on mobile devices
Ability to use resizing methods across many platforms and environments i.e. Ipads Samsung tablets and and getting business contact information quickly
What makes you different from your competitors?
Why should people do business with you rather than your competitors?
Are there any websites with designs that you like?
Describe the style of the website you want?
Do you have specific company colours that need to be used?
Do you have any other materials that the site needs to match with in some way (brochures, press materials, etc.)?
Is there any functionality or options on your current website that you plan to keep (other than the content)?
Would you like e-business functionality
What Could be the various goals and objectives for clients
Ability to give examples of previous and relevant success stories. Case study
Common question I get in Trading would be: I am interested in the financial markets but I don't have time to trade:
So I might go through the clients typical day and come up with Strategies that will enable the do so
like the Fx market is 24 hours you may consider switching from equities to FX
........................................
To others might be
To be a low cost provider
Pursue a global strategy i.e. IKEA ( world domination )
Championing Integration of Merges and Acquisitions
Unrivalled customer service
To be at the forefront of industry innovation
i.e. Apple, Samsung, Tesla, Google, Microsoft
Doing a Detailed SWOT of the client and their goals can be helpful
.
Clients are put at ease as they know they are dealing with some who understands their situation.
1 Do you home work on the client
Elephant in the room
1st Trading example I had a client who complained about not being profitable each month and he was haemorrhaging his account
As I listened closely it became evident that he had a gambling streak as he would place bigger position on a losing position in him.
So I devised trading rules that he should follow according to his account size by using a 2:1 or 3:1 Risk criteria
Others could be
2. Going the extra mile
3. Using everything in technology in the tool box to saving-time and effort Technology Technology Technology is what's makes the difference in Peoples lives
4. Don't make assumptions
5. This is not good bye: 4 repeated business and referrals and establishing meaningful resourceful relationships of value.
Plan for improvement strategic stance this is birth of the Art of war (Sun Tzu)
People want an
Articulated plan : Mission, vision goal, objectives, culture set
Strategic differentiation : Bringing in external market data ,
what your customers think
what you competitors think,
what happening in your environment in your industry : use this to make strategic decision about what your doing or not doing.
So your plan actually articulates how you are different
Organisation engagement: Every body is sing from the same hymn sheet
This is where every body in the organisation understands strategy and plan and their role : This needs to go all they down to the individual level:
Organisational transformation: This is something we can make changes too as we move along that shifts behaviours to help drive choice.
How: constantly talking about it at (QBR)quarterly business meetings being visual about it in media courage
Think about what important to your organisation right now
Arup gave Croydon a tool: a tailor-made, web-based dashboard that defines the programme
For me the Technology is the Key
CPS conducted a survey which suggests reason why people would want to leave their job in the first place
In conclusion
i.e. Earn trust by asking relevant question and taking notes letting the client know that you care.
Building Relationships: In a consultative way and actively listening to the clients concerns.
Give advice effectively
This is huge be cause what the client thinks is the issues might not be the issues
This is found can through the swot analysis of the business, Your answers can be guided around Hypothesise based upon your experience.
At CPS we cover a range of sectors and industries
A wise man once said
These are the leading men and women in the industry that make the impossible possible
