A growing area in the broader spectrum of management is that of management consultancy. An increasing number of management graduates are entering this career, which offers services to companies in areas such as technology, finance, marketing and personnel.
Over the past decade or so, a number of management professionals have diversified from the mainstream and set up their own firms. These are usually small ventures, run by an individual or group of specialists who provide their expertise to larger organizations for a fee. At present, there is a large demand for this type of work in India.
Management consultancy and services is a vast area that includes a wide range of activities and requires a variety of specialist skills.
Is defined as the service provided to business, public or other undertakings, by an independent and qualified person or persons in identifying and investigating problems concerned with policy, organization, procedures and methods; recommending appropriate action; and helping to implement those recommendations.
Is the collective term for a number of functions in which analytical techniques are applied towards the resolution of problems concerning the efficient use of human resources, machinery or systems.