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What is management consulting

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What is management consulting – the service of management consulting is especially relevant during the period of unstable economic situation in the country and in the world. During a period of ambiguous geopolitical situation and the fluctuations in oil prices and exchange rates caused by it, management consulting can help a business not to lose income and market position. In addition, this service may be necessary in case of a change in the vector of the company’s development or adjustment of the pricing policy. Management consulting is useful when a firm intends to reach a new audience or introduce a new type of product to the market. Also, this service can help solve internal problems among management personnel, resolve disagreements between the owner and top managers. The results that a firm can get from management consulting can be divided into direct and indirect, quantitative and qualitative.

Direct Results

Quantitative:

cost optimization

increase in profitability

increase in financial turnover

acceleration of the production cycle

Quality:

changing technologies and work methods

introduction of structural changes in production

development of new competencies by the client

diagnosing and solving internal problems

Management consulting is a design and organizational activity aimed at improving the efficiency of enterprises and organizations in the field of their main economic activity, marketing, management, personnel, etc.

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