Management consulting involves analyzing a company's current operations, identifying areas for improvement, and developing strategies and plans to help management solve complex business issues and increase efficiency, structure, and profits. Common management consulting services include change management, technology implementation, strategy development, operational improvement, and coaching. Consultants specialize in areas like strategy, operations, marketing, finance, human resources, technology, quality management, and outsourcing. While hiring consultants provides new skills and allows companies to focus on their core business, it also comes with higher costs and less control over the consultants.

1. Management Consulting

2. What is
“Consulting”?
 is a service provided by professionals
/consulting firms to their clients, to help
management at these companies solve complex
issues that affect their business.

3. Practice
• Analysis of existing
business (“today’s
world”)
• Plans for
improvement
(“future”)
Performance
in:
• Structure – who’s the
boss?
• Efficiency – how long
should someone work?
• Profits – how much can
you save/earn?

4. Services
Change management
Development of coaching skills
Technology implementation
Strategy development
Operational improvement

5. Categories of Management Consulting Issues
Strategy Consulting or Business Strategy Consulting
Operational Consulting
Marketing Consulting
Financial Consulting and Management
Controls
Human Resource Consulting
Technology Consulting
Environmental Management Consulting
Quality Management Consulting
Outsourcing Consulting

6. Consideration Involved in Engaging
Consultants
.Advantages:
• Easy to hire and fire
• New Skills
• Stick to your core business
• Economic
• More Productive
• Cost Avoidance

7. Disadvantages
• Higher cost
• Limited control over the consultants
• No knowledge of in-house procedure