As business becomes more complex, companies face new challenges. These companies increasingly rely on management consulting experts to help them remain competitive amidst the changes.
Management consultants analyze and propose ways to improve an organization’s structure, efficiency or profits.
For example, a fast-growing US company might employ a consultant who is an expert in international markets to help grow its sales funnel. This consultant might advise on the differences of doing business in the US vs. China or India.
In another case, a large company that has recently acquired a new business may employ management consulting support to help reorganize the corporate structure and eliminate duplicate or non-essential jobs.
In recent years, digital and social media technologies have provided new opportunities for management consultants and the companies that hire them. Companies seek out management consulting expertise to develop strategies for entering and remaining competitive in this new space, to grow their relationships and reputation with customers, as well as to hire and train those looking to learn how to use new technologies.
At The Tantalus Group, we have management consulting expertise in the energy, pharmaceutical, banking, aerospace and consumer goods businesses, among other industries. We specialize in certain functions, from corporate affairs to marketing, as well as sales, business development, IT and human resources.
The work of our management consultants varies with each client or employer and from project to project. Some projects require a team of consultants, each specializing in one area. In other projects, consultants work independently with the company’s managers.
In all cases, consultants collect, review, and analyze information to make recommendations to managers.
How do you know if you need to work with a management consultant? Our clients hire us for a number of reasons. Some lack the internal necessary resources to handle a project, while others need a consultant’s expertise to determine what resources will be required and what problems may be encountered if they pursue a particular opportunity.
Management consultants analyze relevant data – which may include annual revenues, employment, or expenditures – and interview managers and employees while observing their operations. We then develop solutions to the problem.
While preparing our recommendations, we take into account the nature of the organization, the relationship it has with others in the industry, and its internal organization and culture. Insight into the problem is often gained by building and solving mathematical models, such as one that shows how reputation damage can affect a sales campaign or how an internal employee issue can affect productivity.
Once we have decided on a course of action, we report our findings to the client, usually in writing, but often oral presentations are common. For some projects, we are retained to help implement the suggestions we make.
Good management consulting has eight fundamental objectives. As a potential buyer of management consulting services, you should ask yourself the purpose of your work.
Save money and time when working with consultants. Get your free 8 Objectives Whitepaper to Ascend Faster TM.
Wylie was previously the head of public affairs for BASF in Asia Pacific, a US$ 10 billion business, overseeing 15 countries in the region while based in Hong Kong. He also headed ABB Group’s corporate communications team in Beijing, China, a US$ 2 billion business, and had roles ranging from spokesman to speechwriter and head of copy for the ABB Group in Zurich, Switzerland, a US$ 30 billion business. Before moving abroad, Wylie worked as a reporter and speechwriter in Canada.
Wylie attended INSEAD in France and Singapore for executive development and has a BA in English Literature with Honours. He did his post-graduate studies in journalism and has volunteered with the International Journalism Federation in Phnom Penh, Cambodia. As President of The Tantalus Group Wylie manages the global network of Tantalus management consultants.
Our unique networked structure provides our clients access to the latest strategies from around the world and the ability to leverage experience in wide-ranging industries and markets. Contact us for an introductory conversation.