Month: September 2019

Trends In Management Consulting The Rise Of Internal Management Consulting Group

Business Management blogger

At first glance, this topic may not look like anything new to you; nor to me. After all, it is a routine fact that today hire many corporations hire business consultants all the time. Im guessing, as we speak someone out there has hired a consultant for an outside perspective of a specific business matter.

Over the years, an endless number of companies have outsourced this task to specialists. But in recent times, an important change in the industry has been the spin-off or separation of the consulting units of large diversified firms. Although an initially expensive proposition, the long term benefits of setting up such a group eventually out-weighs the cost. These corporations have set up their own internal consulting groups, hiring internal management consultants either from within the corporation or from external firms employees. Many corporations have internal groups of as many as 25 to 30 full-time consultants catering to functional areas such as organizational development, process management, information technology, design services, training, and development.

But before a corporation steps into the task of creating its own internal management consulting group, they need to be conscious of and consistent with how this internal cost is accounted for on both a project and organizational level. At the end of the day, it needs to be cost effectiveness as well as provide significant value to the organizations operations. On one hand, these internal groups are capable of evaluating the engagement on projects in sync with the corporations strategic and tactical objectives. Besides the low degree of dichotomy in terms of priorities (They put the company objectives first) and less ramp up time on a project due to its familiarity with the corporation, internal consulting groups also ensure that vital corporate information is not leaked out and is kept private. Moreover, the time and material cost of internal consultants is significantly less than external consultants operating in the same capacity. But the crucial difference lies in the fact that, unlike external consultants, the job of the internal management consulting team does not end with the mere presentation of the business solution. They are equally are involved in the monitoring and implementation of their recommendations.

However, there is always a flip side to everything good. The most important limitation of internal management consulting groups lies in the fact that they fail to bring the objectivity factor to the table s well as the best practices from other corporations like an external consultant can. Moreover though, it is often difficult to accurately measure the true costs and benefits of an internal consulting group. Last but not least, these groups pose an obstacle to the Human Resource department as well as the level of compensation in the consulting industry is high, it becomes difficult to attract good talent.

Choose Business Management Colleges for Executive Business Management Courses

Business Management blogger

Business management Colleges are on the rise with most big companies and industrial giants searching for candidates who have passed out from renowned B-schools. This is more due to the fact that the Indian economy chart shows a consistent rise and is a booming industry. This has given importance and tremendous rise to the Business management courses India, as students from the business class as well as working class are opting for MBA courses.

The Business management courses that most Business management Colleges India offer are degree courses or post graduation courses. In today’s competitive field education is gaining prime importance with more emphasis on professional bachelor’s degree or master’s degree courses. And obviously keeping in pace with the present scenario, top Business Management colleges are offering the best MBA courses to nurture talent and bring out the best management students. Both the government sector and private sector are participating equally in putting in their valuable contribution to make India the business hub of the world. Many of the Business management Colleges India rank amongst the top B-schools rating of the world and attract students from all over the world. Moreover the MBA colleges in India are much cheaper compared to their counterparts in other countries. But that does not mean that the business management courses India compromise in quality in any way.

The Business management courses in India offer a curriculum that includes the latest trend and news of the Indian economy and the chance to work closely with the industry. Most business management courses involve workshops that train students to be skilled managers and perform skillfully and tactfully within highly competitive surroundings. Case studies, assignments and industrial training are part of these valuable MBA courses with main focus on the changing trends of Indian business, various methodologies, systems and procedures of working of different types of industries and the techniques by which different organizations work.

Most business management colleges impart training that is beneficial to both the student and their prospective employers, since during campus interviews the interviewer seeks candidates who are already trained managers into making. These MBA colleges such as WLCI Business School etc, offer structured programs with specialization in different fields to meet industry standards. The B-schools also offer campus placements with excellent stipends and other opportunities with both national and international brands.

The popular Business Management colleges India are a means of filling in the unemployment gap in India apart from meeting the various needs of industries and service sectors and also supporting the growth of the Indian economy. Most of the business schools of India are situated in the major cities of the country and have a uniform system of taking admission and entrance exams to get through. Apart from the regular MBA courses that are highest in demand, distance learning MBA, online MBA programs and part time executive MBA’s are also growing in popularity. Most of these B-Schools offer specialization in fields such as finance, human resource, marketing, operations, systems etc. Some institutes even offer MBA in fashion technology, hotel management, international business and management etc. The salary is very very lucrative in this field that depends both upon the institutes’ reputation and creditability as well as the individual candidate’s performance in the interview and his ability to negotiate.

Thanks to the Indian government, education in India, especially the development of top notch business schools is gaining momentum and the time is not far behind when India can boast of the world’s best Business Management Colleges.

Qualitivity-Quality and Productivity

Business Management blogger

For companies such as American Express, First Data and Standard & Poors quality has always been of paramount importance. Their clients find quality synonymous with these company names. Clients also expect these companies to deliver timely products and services. These three renowned organizations have mastered finding synergy between the two key elements of quality and productivity. These two key elements have powerful connotations. Quality is equated with excellence that conjures up eminence, value and worth. Productivity is equated with intuition that conjures up instinct, impulse and sixth sense. The single term that best describes this dynamic combination is Qualitivity:

Quality + Productivity = Qualitivity

Organizations today are striving to survive this period of economic downturn and recovery to follow. Qualitivity ensures this survival by focusing on quality and quantity of work and the quest for service excellence. These three Qs quality, quantity and quest combine to achieve the full benefits of Qualitivity. Exploring the methodology for achieving the three Qs will ensure Qualitivity is achieved.

As management is responsible for getting results, they need to be vigilant in seeking these opportunities. Fortunately, many ideas are generated by and gathered from line staff. Management is responsible for accessing, researching and implementing these fast paced changes. Management will also be generating process improvement ideas by asking the following questions:

What could be streamlined? What could be improved? What could be eliminated? What could be combined? What could be automated? What could be changed? What could reduce costs? What could increase productivity? What could improve quality?

Answers to these questions will surface as management reviews the work in their area. Therefore, both employees and management provide Qualitivity opportunities.

One of the keys to Qualitivity is management and employee acceptance. This is vital to the success of a high quality and productivity environment when management and employee ideas converge and blend into one coordinated effort. Management and employees will need to find a common ground. Everyone should begin to examine if tasks are important, valuable and necessary.

When managed correctly, there will be a renewed quest for quality and productivity. As all groups launch new initiatives, it will begin to get contagious. There will be a resurgence of creativity within groups. As this trend accelerates, it will be a key indicator that management has created an environment conducive to Qualitivity with the goal of streamlining of processes and reduction of operating costs while maintaining quality.

Yusuf Uqdah Tackles Problems in Managing Function, Diversity

Business Management blogger

However, none of these projects prepared me for actually running individuals.

I do think this is a legitimate hazard for younger enterprisers who decide to go directly into business without working in a business environment. I think I have always been a good businessperson and some of my favorite strategies became more advanced 6 years ago when I was just 25. However, I would have been much more successful 6 years ago if I realized how one can organize men and women. n.

The good thing is that once an individual learn how to actually manage people, its really not that difficult and it will make your business life as well as your own private living a whole lot a lot easier. Here are some tips:

#1 – Talk to corporate people about management techniques in their company – Most entrepreneurs are rebels. We start our own business because we believe that we can do things better than “those corporations”. We think that what large corporations do, does not apply to our business model. Of course you can’t copy management styles of large corporations verbatim, because there is a lot that does not apply.

However, for the first 4 years of my entrepreneurial career I completely ignored anything that anyone told me about proper management. My friends who had MBAs and who had all worked for large corporations tried to teach me about best management practices, and I completely ignored them. It was annoying to listen to someone that had never ran a business tell me about all of their “management theories”.

It wasn’t until 2010 that I actually started to truly pay attention to the importance of proper management. I was able to recruit a guy in his early 40’s that was a VP of a Fortune 500 company as interim president of my company. He only lasted for 1.5 months, because the rickety finances of my company scared him, but he stayed long enough to start implementing some change in the company. He took a very corporate approach to all of his managerial tasks. Sometimes he did things that were completely out of place, like having weekly meetings where he used a bunch of corporate speak, while the Chinese staff had absolutely no idea what he was saying, because of their English level. However, he did implement some very effective tactics, such as giving all managers clear KPIs (key process indicators) in which to benchmark their performance.

As a young entrepreneur you should always be hungry to find out how larger companies manage their staff. Talk to your friends that have MBAs, talk to friends that work for large corporations, read books on management, and when interviewing candidates, even if the candidate sucks, find out at least one management technique that their current or past companies use.

#2 – Hire Managers First – At one time in 2008 I was 28 at the time, I had no management experience, and I had over 20 employees and not one manager. I can’t believe that I did this, but I managed 20 people on my own. If this sounds like a mess, it was even messier than you can imagine. I recommend hiring managers before you hire staff. Hire a manager that has worked for a larger company before, and let them hire, train and manage your staff.

Streamline Your Business with Small Business Management Software

Business Management blogger

Small businesses often face a multitude of day to day problems and one of them is having difficulty in streamlining business procedures to maximise their potential. Without procedures and processes that are streamlined a small business owner can find that a disproportionate amount of time is wasted each day. Whilst this can sometimes be through no fault of a particular individual it is still time during the working day that is lost and can never be retrieved.

In order to streamline a business and its processes and procedures it is wise to look into small business management software. With small business management software it is possible to run most aspects of a business through one single software application. Not only does this provide a single interface for employees and business owners to perform work tasks through, it also helps to cut down on the amount of time spent switching between various applications.

Small businesses that opt to use small business management software soon see the benefits of doing so in terms of increased productivity and lowered inefficiency. Both of these combined can make a real difference to a small businesss bottom line, something that all business owners and managers are all concerned about.

Integrating small business management software into a business is also very straightforward, which means that managers will not have to face loosing too many working hours as their staff learn to use it. In fact as soon as you have been set up with a password and ID it is possible to be up and running with small business management software in a matter of minutes. Obviously users of this type of software will learn more about how to get the most out of it as they are using it and develop their own style.

Streamlining a small business means that all employees will be using the same efficient means of completing work related tasks and so on. By only using one application to create and save customer contacts, create work rotas, assign individual tasks, create quotes and invoices and much more a great deal of time is saved.

Traditionally, these tasks would have been completed through separate applications which meant waiting for each one to open every day and then having to swap between them during the working day. Over time this can lead to poor working practises and even lost documentation which has to be avoided at all costs. In fact by only using one application it can enable a business to refine their processes to such an extent that there is little room left for error.

Any small business owner or manager who wants to create a more positive working environment and increase productivity in a very short space of time should look towards small business management software. It is the practical and simplistic way to streamline a business and increase revenue. So rather than trying to change internal processes and retain the same software choose small business management software and you will soon see the results.