Summary: Week 1 Strategy Consulting Mcm

Read the summary and the most important questions on Week 1 Strategy Consulting MCM

• 1 Lecture

• What are the 5 steps that are identified in the proces of strategy consulting? Of which the last point is not applied by all consultants but by many these days

  1. Problem identification;
     
  2. Problem diagnosis;
  3. Developing a solution;
  4. Decision making;
  5. Implementation.

• 1.1 What is management consulting?

• What is the narrow definition of management consultancy?

  Management consultancy is a knowledge-intensive service which independent business professionals provide to managers of client organisations and consists of objective advice on management's decision regarding the solutions to the client organisations' problems and opportunities.

• The broad definition of management consultancy is an addition to the the narrow definition, in one word, what does it take into account?

  Implementation

• Based on the definition of management consultancy, we can conclude that consultants are not always dealing with problems but also with...?

  Creating opportunities for their clients by looking into the market and looking at what the options are. How can a company grow in a smart way?

• 1.1.1 Broad Definition

• What is the addition that is added when talking about the broad definition of management consultancy?

  ... And may, in some cases, also consist of assistance with the management's task regarding the implementations of these solutions.

• In terms of the broad definition how do some consultants see implementation? When positioning themselves towards their competition?

  When it is a way to sell themselves, position themselves towards the Big Four or larger companies.

• 1.1.2.1 Functionalist Perspective

• What are consultants considered to be from the Functionalist Perspective (normative perspective)?

  Management consultants are doctors/professional helpers.

• When, from the Functionalist Perspective, consultants look into a company with their tools, what is it that they are researching? List the 2 options

  Considering how 'sick' the company is. 
  

  1. Assessing the organisation - problem - wise; 
  2. Dealing with specific environments (project environments) that are not going as they should.

• What 3 roles does a management consultant take when being seen as a doctor?

  • Consultants create value for their clients (independent advice to managers) 
    
  • Consultants create value for society (sharing knowledge with other parties) 
  • Knowledge-broker; knowledge is up-to-date through many client organisations.

• 1.1.2.2 Critical Perspective

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• When consultants are not doing too well, the critical perspective comes into play. Here we see that consultants get a negative association, what is this?

  Management consultants are witchdoctors.