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Management Consulting Growing Due to Benefits Gained by Clients

Business Consultation

Due to the global financial crisis of 2008, there aren’t many professions or business models that have shown growth over the last five years. According to a recent report in IBISWorld, the field of management consulting has grown over the last five years. No studies specific to Perth have been found, but numbers for Australia are an average annual growth of 2.1% for 2007-2012, with the final numbers for 2012 projected to come in at 4.9% growth.

According to the report, management consulting is currently an $8 billion business, with 3,958 businesses providing 35,050 jobs. Perth numbers aren’t available, but we think it is safe to say that they will be favourable, due to WA’s dominant position in comparative state economic indicators from the last ABS report in 2012.

So, what are the benefits of management consulting? First and foremost, it gives businesses an outside, objective set of eyes and ears. Even the best of businesses has office politics and conflicting agendas among management and staff. When a person is too deeply involved in any workplace, it is difficult for them to see things they are doing that may be counterproductive.

A management consultant can immediately isolate and identify those behaviours, communicate them in a professional manner, and suggest constructive solutions to those problems. The executive or manager can be confident that the feedback is, indeed, objective, and that the only agenda is to facilitate more effective performance.

Management consulting firms bring a lot of outside expertise to a local business. For example, a business that is receiving management consulting in Perth can learn what techniques are being utilised across Australia or around the world, without leaving the office. An outside consultant can also provide a business with crucial information about issues such as compliance, regulations, accounting, new technology, and strategic planning.

Price is another factor. While it’s impossible to get firm figures, and those in the industry are purely anecdotal, many businesses estimate that they are receiving up to an 800% ROI by hiring management consultants.

We offer a full range of management consulting services, including those in the areas of project performance improvement, conflict management and resolution, individual and organisational performance, change management, structural reviews, and governance.

Contact us for more information on management consulting.

 

Ron Cacioppe

Ron Cacioppe is the Managing Director of Integral Development and holds a BSc, an MBA and a PhD. He has taught in the Graduate School of Management at Macquarie University, Curtin University and the University of Western Australia.

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