Management consulting is the practice of providing consulting services to organizations to improve their performance or in any way to assist in achieving organizational objectives. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and accessing consultants' specialized expertise regarding concerns that call for additional oversight.
The economic function of management consulting firms is in general to help and facilitate the development, rationalization and optimization of the various markets pertaining to the geographic areas and jurisdictions in which they operate.[6][7] However, the exact nature of the value of such a service model may vary greatly across markets and its description is therefore contingent
Management consultants help organizations define their strategic direction, develop business plans, and identify growth opportunities.
They analyze existing business processes, identify inefficiencies, and recommend solutions to improve productivity and reduce costs.
A: Management consultants help organisations to improve business performance by cutting costs, increasing productivity, creating value and maximising growth. They use their business skills to provide objective advice and expertise and help an organisation to develop any specialist skills that it may be lacking.
A: This involves data analysis, learning about competing organizations, and interviewing employees such as executive team members. Management consultants analyze their findings, make recommendations, and communicate the information to clients. In some cases, the consultant may also implement the strategy.
A: IT service management consulting helps businesses evaluate the current state of their ITSM practices, identify areas for improvement, and optimize the efficiency of their IT delivery processes while minimizing costs.
