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Value of Management Consulting: Proven

Posted By Administration, Thursday, March 14, 2013
Updated: Friday, August 30, 2013
Congratulations to IMCUSA member, Bill Conerly, for his recent article in Forbes - The Value of Management Consulting: Proven.

Here's yet another reason a consultant shouldn't underprice their services. In his article, Bill references a formal study by the World Bank that shows "first year economic benefits exceeded the cost of consulting - with later years' benefits pure gravy."

While the study examined foreign companies, after reading the study Bill is convinced American managers can learn a lot from it - and it's applicable here. There's a list of 38 good management practices that managers can review and self-evaluate. Bill has added two that he feels are missing from the list (and his reasons why he adds them): sales and pricing.


His four suggestions for a company wondering if there is room for improvement are:

  1. Bring in a consultant with a broad background to help you identify areas of focus.
  2. Bring in expertise to focus on the areas most ripe for improvement. That might be your first consultant or it might be a specialist.
  3. Evaluate your results.
  4. Look for the next opportunity for improvement.

TIP: Click here to read the complete article and reference links he provides. Dr. Bill Conerly of Conerly Consulting LLC can be found on the IMC USA website by clicking here.

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