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List of Management Consulting Firms and Ways in Which They Deliver Results

Management consulting is a growing sector, and several consultants in the market cater to all kinds of businesses, professions, and industries. It is most common for businesses and firms to bring in a management consulting firm whenever they get stuck or face problems that they are not able to solve with their own team. Management consulting firms bring in their wide experience and knowledge of the latest practices and technology and almost always make a difference. This is mainly because they provide an external viewpoint and are able to spot the root cause that the clients team may have been close to but were not able to spot.

Management consulting firms are of the following types and specialisations

  • Business consulting
  • Marketing consulting
  • Theory of constraints consulting
  • Strategy consulting- Though there is a difference between management and strategy consulting, management consulting firms are often the umbrella firm which has subdivisions and individual consultants specialising in areas such as strategy consulting
  • Technical consulting
  • Financial consulting
  • Human resource consulting
  • IT consulting
  • Automobile consulting
  • Construction consulting
  • Business accounting consulting

There are so many specialisations, and most management consulting firms have separate divisions handling multiple clients at a time. The bigger management consulting companies have separate divisions and handle all types of consulting, whereas smaller firms specialise in a limited number of sectors and have their specific set of clients.

Management consulting firms

The Management consulting companies in India are:

  • Large multinational consulting firms who are based in major cities in India and send out individual teams to client companies
  • Large business groups that have consulting divisions and send out teams for consulting assignments at various client companies
  • Management consulting companies that have a bank of freelance consultants and specialists in different fields and recruit freelance consultants as and when they receive consulting assignments from clients
  • Management consulting firms in the unorganised sector specialise and have a reputation for being specialist consultants in law, finance, strategy, and manpower.
  • Management consulting companies that do not advertise themselves are not visible on the net but are known to companies, and they receive assignments from select companies and their associates.

Ways in which management consulting firms deliver results

Most management consulting companies deliver results in the following modus operandi

  • The consulting firm first meets with the client and understands the scope of the consulting assignment
  • A team from the management consulting firm visits the company and makes observations of the current scenario for about 1 to 2 weeks
  • After the observations, the management consulting firm makes a presentation to top management or the owner's team of the client company, shares their observations, and makes recommendations on how they can deliver results. At this stage, the management consulting company asks for a time frame and the cost involved, recommends activities and equipment changes, and asks to implement the changes with the client's team. If it is a human resources consulting activity, training of existing manpower and recruitment of new talent are proposed.
  • Once mutually agreed, the management consulting firm gets to work and completes the assignment within the agreed time frame. Results are recorded and presented to top management. Some client companies may ask for periodic updates while the consulting activity is in progress.
  • Once results begin coming in and the management consulting firm has demonstrated results, the client company can choose to extend the contract with the consultant or conclude the assignment.

Management consulting at its best

Management consultants need to provide referrals of having delivered results with other clients, and they work for results. They are mostly reliable and can make a big difference to a client company.

The management consulting firms are professional, and they produce results.

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