The role of Management Consultancy in a fast changing and volatile business environment in Sri Lanka vis a vis its interface with rest of the world Continuous Assessment - Essay (Individual Assignment)
MCP 2258 – Management Consultancy Skills
MBA in Human Resource Management Batch II - Semester III
: Prof. Sudatta Ranasinghe - Professor of Management Mr. S A D Senanayake Head, The Department of Management Studies Dr. Udan Fernando, Senior Lecturers, Resource Person : Gamini Hettiarachchi : 110046980 : 28.04.2013 : 1680 words, 6 single side A4 pages
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The role of Management Consultancy in a fast changing and volatile business environment in Sri Lanka vis a vis its interface with rest of the world Introduction:
The Role of Management Consultancy in Sri Lanka is an interesting topic to review as it has generated an extra challenge for management consultants because of the country’s volatile, inconsistent business environment. The challenge is further vital when the interrelationship between Sri Lanka and the rest of the countries in respect of businesses relationship is taken into consideration.
This essay focuses firstly on reviewing available literature to describe and elaborate the role of management consultancy. Secondly to review and analyze contemporary volatile facets in the business environment in Sri Lanka and thirdly combine above facts to review interfacing effects of management consultancy in a fast changing Sri Lankan business environment with the rest of the world.
The Role of Management Consultancy:
Fernando, U (2013) elaborates that consultants operate across a wide variety of services such as business strategy, marketing, financial and management controls, human resources, information technology, ebusiness and operations and supply chain management. Further Turner, A. N (1982) describes that consulting is more than giving advice. The functions of consulting services are commonly broken down into several categories and consultants can function as bridges for information and knowledge, and consults can provide these bridging services more economically than client firms themselves.
Philip Sadler, (1998) as the editor of the Management consultancy: A Handbook for Best Practice describes the role of management consultant as ”Consultant …will play a different role to that a consultant involved purely in formulation. They will need to dance the paradox between being an external uninvolved adviser and internal, involved catalyst. They will need to remain unbiased and maintain their integrity and yet, at the same time, become involved in the typical political behavior in an effort to help organization through the implementation maze.”
Business & Economics (2010, p96) describes Management Consultancy and the role of Management Consultants as (1) help organizations to solve issues (2) create value (3) maximize growth and (4) improve the business performance of their clients. Management consultants are primarily concerned with the strategy, structure, management and operations of an organization. They will identify options for the organization and suggest recommendations for change, as well as helping with additional resources to implement solutions.Consultancy firms range from larger firms that offer end-to-end solutions to smaller or niche firms that offer specialist expertise, skills and industry knowledge. Starting from the contracting phase through discovery, action planning, implementation, evaluation up to the termination of the management consultancy project the management consultant plays different vital roles as an analyst, synthesizer, impartial observer, critic, mentor, advisor, coach, collaborator, educator, expert, facilitator, problem solver, researcher etc.,. Fernando, U (2013).
Volatile business environment in Sri Lanka:
There are several areas and segments which can be described as...
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