Management consulting (also called strategy consulting) refers to the practice of helping companies improve performance through analysis of existing business problems and development of future plans. Management consulting usually involves the identification of best practices, analytical techniques, change management and coaching skills, technology implementation, strategy development or even simply providing the advantage of an outsider's perspective. Management consultants generally bring formal frameworks or methodologies to identify problems or suggest more effective or efficient ways of performing existing business tasks.
Why is it needed?
- Strategy Development
- Process analysis
- Implementation of technology
- Improvement in operations
- Cost efficiency
- Market analysis
- New market entry strategy
- Risk analysis
- Ascertaining factors that will contribute to the success
What does a management consultant do?
- Management consultants assist the decision-makers with an advisor, strategy, planning, consulting, and organizational matters.
- Management Consultants have problem-solving skills and idea to develop a strategic plan for business growth, For instance, hiring management consulting provides advisory on innovation or cost reduction strategies.
- Executing the proposed solutions, and the execution side of consulting forms the largest market for management consultants in practice.
- Assignments can differ from boosting the efficiency of business processes, outsourcing of non-core tasks, the implementation of new IT systems, optimizing the supply chain, etc.
How ASC helps?
- Based on the criteria given by the client scope of work is formulated by ASC. Thereafter, the scope of work is implemented systematically with the objective of achieving the target set by the client.
- In this respect, appropriate data and performance indicators of the client have analyzed Vis – a – Vis existing industry benchmarks, prevailing business practices, etc.
- As far as consulting exercise based on market analysis is concerned it is conducted by a combination of Primary and Secondary research and the strategy is to use both primary & secondary data in conducting the Market analysis.
- Primary research will involve the collection of previously un-gathered data by conducting surveys, telephone interviews. Face-to-face interviews, discussions with focus groups, target consumers, and entities involved in the distribution of cosmetics and cosmeceutical products. On the other hand, secondary research will involve the summary, collation, and/or synthesis of existing research, information, and data available.
- The Management Consultancy approach manages comprehensive issues pertaining to Companies i.e., thorough planning, account outsourcing, practicality, transactional services and compliance outsourcing. It includes SOP Development, Transaction Services, Internal Restructuring Consultancy, Strategic Planning, Due Diligence, Accounting Outsourcing,