Issues facing-Management Consultancies.
- July 4, 2018
- Posted by: nrsnepal
- Category: Business, Consultancy Services, Human Capital, Human Resource, Management Consultancy, Training
There are over 12 companies in Nepal focused on Management and Marketing Research Consulting Services and a high majority of these companies are based in Kathmandu. Kathmandu has become a real hub for corporate businesses and with the amount of businesses coming into the market each day growing, it is surprising to find that there isn’t a growth in high quality management consulting offices as well.
So what is Management Consulting?
Management consulting in simple terms is the act of helping firms to improve their performance. Management Consultants mainly focus on the analysis of business problems and through this, develop improvement strategies. -These companies help businesses to grow through solving issues and exploring new and better ways for businesses to operate. Through experience they also work to reduce business costs in order to help make savings where possible. Management consulting firms simplify complex business problems for business organizations and work on diversifying businesses in terms of all kinds of services and work that they do. Their services mainly focus on attracting and growing new customers, pulling in top talent/recruiting, effective use of technology,
What sort of services do these management consultancy companies offer?
Many management consultancies offer different services within Nepal. All of the companies however provide research and information whilst solving problems. Where these companies vary however is where they specialize in. For example, some companies focus on consulting for HR related issues whilst some focus on Tax, marketing finance, accounting etc. Many management consultancies also differentiate further with additional offerings such as some companies offering ISO training and consultancy service, business advice, staff training and so much more. If you have a business, management consultancies are there to help with any problems you may or may not be aware of in order to grow your business irrespective of its size.
What are the issues facing Management Consultancies?
- Employees are overworked
In Nepal it is the norm to work 6 days a week but this is not effective for all business types, namely the Management consulting service industry. As this industry is one that requires a lot of critical thinking, creativity and attention it is important that workers remain fresh and ready to thrive. Working 6 days a week does not allow a big enough break for workers to really relax and take a bit of time off. This can hinder creativity and as such lower productivity. It is recommended to work 5 days a week in these types of industries due to the strain it can have on the brain, once rested you would be surprised at what the brain can do and how much more productive you can be.
- Low level of training and expertise in Nepal
In Nepal there is a low level of employee training and expertise. There are too many management consultants with not enough experience. It is said that management consultants should have at least 5-years of experience however this is not the case with many companies and it has shown with the quality of service provided.
Another issue related to this topic is that the standards of employees are quite low due to the lack of sufficient trainings. It is important for management consultants to constantly keep learning in order to stay on top of their sector. There are a few management consultancies within Nepal that offer internal trainings for their staff members. It would be great to see more companies adopt this.
- People expect a lot but do not want to pay for the services they expect
An important issue to note is that people are not being paid what they deserve. Within Nepal, there are fewer regulations and not many companies focusing on quality. As such, expectations are low within the country. However, there are companies with genuine Quality Management certifications services such as ISO certifications services but due to the fact that expectations are already low, many customers still do not see the value of paying full price for a product or service even if they are receiving a lot of benefits from it.
This problem particularly occurs in the Management Consulting industry. It has been shown that many companies do not actually have genuine ISO certifications services which make things a lot worse. It is important, especially with companies that have goals of doing international trade not to cut corners, not to find the easy way out at the expense of genuine quality. Foreign companies and consumers would not appreciate finding out that a company holds false documentation or has not taken the time get a Quality Management service certificate in the first place.
- Timeliness of businesses – Nepali Timing
One issue, which is more of a cultural issue that heavily affects business within Nepal is something known to us all as ‘Nepali timing’. Being late once in a while is acceptable but only in your personal life however lateness has spilled over into how businesses run within the country which ultimately will affect business efficiency. What is meant by this you ask? Well it is simple, a business states they open at 9 but really opens at 10. Effectively, that is an hours’ worth of time each day gone due to “Nepali timing”. To put this into perspective, that is 24 hours a month and 288 working hours a year lost just due to being late by an hour each day.
On top of this, lateness has also spilled over into meeting times. In many instances visitors to companies have been booked in to have a meeting with a company for 10:00am but don’t get seen till 3pm. whilst this is something that could be argued to be a part of the culture, it does not mean this is a good thing. If you say 11am stick to 11am. If you cannot meet this time for any reason let the visitor know in advance that you will need to reschedule. There is nothing worse than someone making the journey only to have to wait for 4 hours without being told why.
Lateness can negatively affect your business especially when you begin to grow and start doing business with the rest of the world. It can be seen in many cultures that you do not value the other person’s time and as such can negatively impact your business relationships and future ventures.
- Buildup of projects
A build-up of projects tends to be a result of clients being indecisive which impacts on the efficiency and operations of management consulting firms. Many clients don’t realise the true cost of projects. For instance, if a project costs $200 clients would argue it should cost them $100 instead, thus take a back seat. Companies would then start on a new project and halfway through this, the same employer may come back saying they are ready to start the project. Leading to management consultancy companies having to circum-navigate all of this in order to satisfy the customer.
Whilst many external factors are impacting the build-up of jobs, as a business it does not mean there is nothing wrong internally too. There may actually be issues with employee’s time management ability. In effect, because of a lack of time management deadlines are missed which leads to inefficient work flow and increased stress levels. Time management helps aid productivity, allowing for greater efficiency which enables tasks to be completed ahead of schedule.