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BTMT 3163CONSULTANCY AND COACHING FOR

TECHNOPRENEURS

Pn. Nor Azan Abd. Gani

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What is consultancy about? A consultant is usually an expert or a professional in a

specific field and has a wide knowledge of the subject matter.

A consultant usually works for a consultancy firm or is self-employed, and engages with multiple and changing clients.

Thus, clients have access to deeper levels of expertise than would be feasible for them to retain in-house, and may purchase only as much service from the outside consultant as desired. It is generally accepted good corporate governance to hire consultants as a check to the Principal-Agent problem.

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What are Consultants?

• Experienced professional who provides expert knowledge (often packaged under a catchy name) for a fee. He or she works in an advisory capacity only and is usually not accountable for the outcome of a consulting exercise. Some consultants (like Peter Drucker and W. Edward Deming) have brought dramatic shifts in management thinking and improvements in the performance of organizations.

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What Does a Consultant Do?

• Consultants are paid to share their expertise and knowledge to help businesses attain goals and solve problems. Consulting is a wide-ranging field with positions in innumerable industries

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Why are Consultants Needed Now?

1. Eco-friendly – new regulations and legislations for industry is in demand for eco-compliance. Companies are seeking help to review internal policies and meet regulations requirements.

2. Life Management – baby boomers and those aged 55 years require different services and products. Consultants can help these age groups to personal life goals and provide them with expert advice.

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3.E-commerce – brick and mortar retail shops and new businesses have resorted to online selling to save cost. This is favorable to consultants who are expert in the online business areas. They provide opinions and guidance in setting up and managing the full e-commerce site with shopping carts and payment systems

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4. It Security – with growth of internet service, It security becomes more important and demand increases. Consultants give guidance to clients about latest software to protect against viruses and hackers.

5. SMB Expertise – consultants can help by providing well-developed approaches to help improve overall performance and increase sales, grow their business and solve their problems with their wide knowledge .

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Job Duties Job duties can vary depending on the industry in which a

consultant is working as well as his or her specific field of expertise, but the following job duties apply to most consulting positions.

Fixing or improving a particular component of client's business is the broadest duty for which consultants are hired.

Consultants may sometimes be asked to teach a business' employees how to manipulate a new software program or some other skill that increases productivity or generates more revenue

Consultants provide influence and objectivity to managers as well as employees. They're also expected to provide advice, make recommendations and excel at problem solving.

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Roles and Functions of Senior Consultants

• Identifying issues and forming hypotheses• Formulating and implementing recommendations

/solutions• Ensuring the client receives the assistance needed to

implement the recommendations or solutions• Managing projects and programs• Leading and managing those within the team,

including analysts• Playing larger leadership roles in the management of

client relationships

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Roles and Functions of new graduate Recruits

• Carrying out research and data collection• Conducting analysis• Interviewing client’s employees, management

team and other stakeholders• Running focus groups and facilitating

workshops• Preparing business proposals/presentations• Spending the majority of time at the client’s

site

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Reasons Why Companies Need Consultants

1. Experience in solving similar problems2. Well-developed approaches, methods and

tools that will assist in the process3. Subject matter experts who can provide a

sounding board for new ideas4. Provide solutions to specific challenges and

situations5. Cost effectiveness6. Objectivity in undertaking task

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Examples of reasons to engage consultants• To provide a short-cut to know-how, knowledge and information

that does not exist in the organizations• To provide a professional service that does not exist in the

organizations, or that it is needed for a specified period of time• To provide solutions to specific challenges and situations• To validate the ideas that have already been created in the

organization• To facilitate the search for ideas and solutions with existing team

members • To facilitate, create and implement methodologies and systems

that enhance efficiency and organization• To present, teach or implement “new” business ideas and

procedures

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Why Consultancy Service Thrive in Technopreneurship

Technopreneurs can get point of view from experienced “outside” evaluation

It is a “short-cut” to know-how, knowledge and information in the business field

Solution for specific challenges and situations Access network of business or government

contact To increase the company’s profit To make the best technology choice

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Types of consultants

• Internal Consultants Someone who operates within an organization but is available to be consulted on areas of specialism by other departments or individuals.

• External Consultantssomeone employed externally whose expertise is provided on a temporary basis, usually for a fee.

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Types of Consultancy Services• Management consulting• Strategy consulting• Human resource consulting• Information technology consulting• Marketing consulting• Financial consulting• Construction consulting

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Areas of consultancies

Management Consulting Focus on how an organization works to

achieve its stated goals. This include working on strategy, operations, and information technology

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Strategy Consulting • Focus on identifying the direction, goals , and

growth of an organization within a specific industry

Information Technology Consultingfocus is on using technology to help an organization more efficient in achieving its goals

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• Industry Specific Consulting• Focus is on a specific industry and can include

strategy, management, IT. Scientific or technical consulting.

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Models, Theories and Approaches of Consultancy

• The 3C’s Model• The 4Ps Model• Matrix Based Formulations Model

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Skills• Successful consultants derive their skill set from a combination of

learned techniques acquired from higher education and, to a lesser degree, innate personality traits. These skills include the following:

• Problem Identifier• Analytical skills• Communication skills• Listening skills• People skills• Problem-solving skills• Market-yourself skills• Excellent interpersonal skills• Know-how to run the business effectively• Influencing skills• Negotiation skills

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Qualities to look for when choosing consultants

• A penchant for facts• Sift and filter out• See all sides and angles• Think ahead• Avoid quick fixes• Precision• Self discipline• Hones to a fault• Reliable

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Why do some organizations avoid using consultancy services?

• The costs needed to hire a consultancy is high• There are no stable resources to follow the

advices given by consultants• There is no guarantee to success if they hire a

consultant• The level of confidence for the consultant is

low• The consultant himself is not likeable and not

trusted by clients