The external consultant is often with the firm on a short-term basis. As soon as the project is over, they will move on to the next client on the list. Of course, they hope to establish a relationship that will be fruitful in providing work later, but this is not always the case. Their focus with a particularly client is always short-term.
The external consultant may be focused only on the problem and not how the problem relates to the normal functioning of the business. They do not have this level of insight into the internal workings of the company. However, their opinion may be more objective than that of the internal consultant. They will not be biased due to fear of rejection by a key client. Objectivity is the key advantage to the external consultant. The external consultant brings with them the ability to look at a problem as an outsider would look at the problem, without the influence of company politics.
One of the key disadvantages of the external consultant is that they are often more costly than the internal consultant, but this is not always the case. According to Kulpa (2007), you get what you pay for and a good consultant will cost more than a less experienced one. Consultant fees are closely related to their reputation, the more happy clients they can conjure up, the higher they can charge.
However, there is another side to the sticker shock experienced when one hires an external consultant. It is true that their hourly rates sound ridiculously high, as compared to the hourly rate that managers pay their employees. Many do not consider the hidden costs of a full-time employee in this equation. With a full-time employee, one has to pay for medical insurance, dental insurance, 401K matching, worker's compensation insurance, and other out of pocket expenses for an internal employee. These benefits can add up to amounts that rival the hourly rate charged by a good consultant. Managers often do not acknowledge the hidden costs of an employee vs. A consultant, but the costs are real and do have an impact on the profitability of the company. If the consultant is the right match, they can offer many more returns than the internal employee can and the fees only accrue for the duration of the project. They will not accrue weekly, as with a full-time employee.
One of the key concerns with external consultants are the horror stories about bad consultants that are abundant. It is easy to become a consultant, just proclaim yourself an expert and open your doors. However, the ease with which one can enter into the field is alarming. Earlier in this section, price was mentioned as a key to finding a reputable consultant. However, Chin (2007) cautions that price is not everything and that there are unscrupulous people out there in the consulting business. Chin categorizes bad consultants into several types: the snake oil salesman, the lonely derelict, the self-proclaimed idol, the doomsdayer, the slacker, and the step lightly. These descriptions are self-explanatory and describe every manager's worst consulting nightmare. The risk of hiring one of these personalities is a key disadvantage to hiring an external or internal consultant.
Conclusion
The case for hiring an external consultant is compelling in terms of access to capabilities that do not exist internally. However, one must be careful to research references carefully to avoid unscrupulous characters. Executive management can foster a productive relationship with both internal and external consultants. The key to fostering a productive relationship is the ability to communicate common goals and objectives. However, with proper attention to the necessary communication skills, the consultant will add much more value to the company than high prices. The right consultant will bring a wealth of experience to a situation and will provide an alternative...
Steps were also taken to organize a stock market in Lahore (Burki, 1999, pp.127-128). Also organized during this period were the Pakistan Industrial and Credit Investment Corporation (PICIC) and the Industrial Development Bank of Pakistan (IDBP), both of which were important to industrial development, obtaining "large amounts of capital from the World Bank, the former for investment in large industries, the latter in relatively smaller enterprises" (Burki, 1999, p. 128). This
In this regard, Greenspan and his associates report that, "The construction manager at-risk, who also acts as the general contractor, is integrally involved in the design process, assisting with design, constructability reviews, cost estimating, and scheduling" (p. 14). In this emerging capacity, construction managers must possess a thorough knowledge of construction materials and be able to identify where cost savings can be achieved through alternative uses of different materials.
role a hired consultant organization. You asked president organization prepare a background paper results research findings make recommendations improve group productivity organization. Manufacturing plant The manufacturing plant is characterized by the fact that it conducts manufacturing operations for the parent company, yet it is physically separated from it. In the current case, a problem has been observed in the fact that the manufacturing plant is also culturally separated from the parent
Measurement: Coordinate all deployment processing for all task order personnel in a timely and professional manner. This can be seen in my duties where for instance I set up tracking documents for subcontractors and a checklist for contractors deploying. I am also administer and control maintenance of Task Order personnel data in internal and external (prime master and government SPOT) personnel databases. My responsibilities include coordinating training and deployment requirements prior
Financial managers and CEO's play important roles in ensuring that organizations meet their specific goals. The skill levels for both positions are high and require a great deal of patience and experience. The purpose of this discussion is to determine whether being a financial manager is the best preparation for later becoming a CEO. Role of the Financial Manager According to the Bureau of Labor, financial managers must have a bachelor's degree
history of science has existed for many decades. This is considering that it is a well-established discipline of scholarly research. The scholarship of science initially concentrated on the physical and the biological sciences. However, it now includes both social and behavioral sciences. Some psychologists and scholarly researchers like George Sarton brought a call for a history of psychology. "Introduction to the History of science" is one of his articles
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now