The field of consulting has evolved, with no clear boundaries
and definition. The term consultant is formally defined
as "a specially trained and experienced person who
makes an organized effort to help the management in solving
problems or improving operations through the application
of judgment based on knowledge, skill and systematic analysis
of facts." (Griener L E and Metzger R O, Consulting
to Management, Prentice-Hall, New York, 1983). The fundamental object of consulting is to help a client
create value by providing information and advice which leads
to successful organizational change. The `client' could
be an individual or a corporate who needs specific information,
advice or expertise. Consultants listen, think, brainstorm, analyze and provide
advice drawing from past experience and expertise.
The output
may include identification of training needs, financial
accounting systems, restructuring, etc., and may also generate
intellectual assets captured in patents or proprietary processes.
The term `consultant' may allude to individuals offering
specialized services, consulting arms of the `Big 5' accounting
firms, firms specializing in strategy, compensation and
employee benefits and IT consulting firms. Each player has a road map on the process of consulting.
The process of consulting follows a chronological order,
starting with the entry (making the first contact), the
diagnosis, the validation and building the solution.
Regardless
of their specialized field, consultants need to become skillful
in managing the output, process and relationship, along
with the financial aspects of the assignment.Business consulting, by its very definition, touches all
aspects of management - Strategy, HR, IT, Finance, Technology,
etc. It is largely classified as management and strategy
consulting and IT consulting. The existing market for consulting
is expanding at an astronomical rate. Kennedy Information
Research Group (www.kennedyinfo.com) reports that over 140,000
consultants sold about $70 bn worth of advice in 2002 and
the revenue is growing between 10-30% annually. These estimates
on the size of the industry do not clearly distinguish between
management consulting and technology consulting. |
