The fundamentals of consulting rely on the rich knowledge and experience of the consultant. Basing on a company’s request, the consultant works closely with the managing staff, to identify the main issue. With adequate quantitative and qualitative evaluation, the origin of the issue can also be identified. The next step will be coming up with a realizable solution, in order to improve company’s management and generate profit.
1. A valuable proposal: the consultant provides customers with consulting solutions based on the overall situation. This is the general goal of a consultant and the customer.
2. The passing on of professional knowledge and experience: during the consulting sessions, different approaches will be used by the consultant in order to implement innovative management concepts and methods, such as training session, interview, meeting, etc.
3. Talent incubation: during the consulting session, the consultant assists the client's management team setting up plans and paths that lead to employee's skill improvement and self-actualization.
4. A fruitful consulting: after the consulting session, value will be generated, explicitly or implicitly due to the improvement of managerial system. The most observable value is the profit brought by consulting. In order to measure this profit, one must pick quantitative value to conduct thorough research. The optimistic result will be, for example, reduced inventory occupancy funds, reduced receivables and bad debts, etc. A qualified consultant usually achieves an investment return of at least 5 times after the project ends.
