| Consultancy is all about using the knowledge, | | | | effectiveness. The consultancy can help in |
| expertise and experience to guide others to | | | | designing the suitable on-going and need-based |
| achieve their goals. Management consulting is | | | | ad-hoc programs for each level.e) Customer |
| about guiding the management of an organization | | | | Relationship (CRM): CRM is not just about having |
| on the current and future problems and | | | | an executive at the phone to answer the queries. |
| opportunities related to its structural and functional | | | | In reality, there is a need to integrate the |
| aspects. From the routine processes to strategic | | | | marketing plans, sales efforts, manufacturing and |
| decisions, consultancy has wide area of operations. | | | | or services with the consumer feedback and |
| Some Of The Key Functional Areas That It Deals | | | | queries. Apart from this, the customer needs to |
| With Are:a) Managing The Change: Business | | | | have the facility of communicating via multiple |
| environments are dynamic, based on a number of | | | | media and receiving appropriate solutions as soon |
| internal and external factors. Any change in these | | | | as possible. Further, the consulting companies can |
| environments affects the business requiring | | | | also outline the suitable PR exercises for different |
| corrections at lower, middle and/or top level. | | | | types of customers.f) Advertising: There are |
| Managing the change is about its quick anticipation | | | | many media of advertising. The online media |
| and developing the capabilities of organization to | | | | refers to the internet-based advertising. It is done |
| accept the change. It prevents the losses and the | | | | by way of pay per click (PPC), Search engine |
| element of risk that the change may bring.b) | | | | Optimization (SEO), Email advertisements, etc. |
| Business Transformation Outsourcing (BTO): | | | | There are also offline channels like TV, Radio, |
| Professional organizations know what their core | | | | Newspapers, Billboards, etc. Not surprisingly, |
| competencies are. With increasing wave of | | | | therefore, an organization may not know which |
| globalization, many corporations felt the need to | | | | channels to use and when to use these for |
| focus only on their core competencies and | | | | advertising. Management consulting develops |
| outsource their other activities. Thereby, they | | | | effective advertisement plans in accordance with |
| reduced the costs and became more competitive. | | | | the short and long term objectives of the |
| Consulting identifies what shall be outsourced, to | | | | organization and guides it on the timings to launch |
| which location and how can this be beneficial for | | | | these. It can also develop measures to evaluate |
| organization.c) Human Resource: It encompasses | | | | the efficacy of these programs.g) Finance: It is a |
| the domain of usual activities like recruitment, | | | | step ahead of usual accountancy. Consultancy in |
| staffing, compensation and benefits, health and | | | | this field is about interpretation of financial |
| safety, social welfare, labor relations, compliance | | | | statements, how to raise the debt or equity from |
| with the labor laws of the land, etc and also | | | | appropriate mediums, planning of the investments |
| concerning the growth and development of the | | | | and covering the losses that may happen due to |
| employees.d) Executive Coaching: It is important | | | | fluctuations in exchange rates, interest rates, etc. |
| for the executives at all levels to be educated | | | | Management consulting is a magic wand to make |
| and trained in new processes, technologies and | | | | a substantial turnaround in an organization. |
| knowledge areas to improve their efficiency and | | | | |