THE WORSHIP COMPANY OF MANAGEMENT CONSULTANTS
The overall mission of the profession is to help necessary change in business and in the wider community to happen more quickly, effectively and with more certainty of delivering results
Management Consultants come from many disciplines such as strategy, IT, operations, management development, HR. Critically, a Consultant is distinctively experienced in how to help firms precisely diagnose issues holding back success, prescribe solutions and implement them. Consultancies range from very large global firms to highly specialist and expert firms based on small teams of very experienced individuals. A range of styles of service are available to a client.
The Management Consultancies Association of firms (MCA) assessed in 2010 that clients had £6 of benefits for every £1 spent on consulting. UK consulting is around £8.5 billion revenues and employs more than 80,000 consultants. The MCA has a Code of Practice to which all MCA members subscribe as does the Institute of Consulting (personal individual membership.)
“Change Through Wisdom”
This motto of the Company typifies consultancy in the City.
- Assisting organisations to change to be more successful. This is through a variety of activities and is backed by accumulated experience from other assignments.
- Focus on planning for and anticipating the future (including scenario analysis, goal development, resource planning.)
- Working at the Board or at the “shop floor.” Consultants work as individual advisors and in multi-disciplinary teams.
- Management consultants are involved in education and training to develop executives and staff.
Diversity, Sustainability and Corporate Social Responsibility
Management Consultancy is by definition a progressive profession and commercial success is driven by finding the most expert and capable people, well suited to working with colleagues and a wide range of clients’ people. The profession is naturally diverse and forward looking, and in its own operations and significantly in response to client needs is focussed on making efficient use of resources.
The profession takes its obligations to society very seriously. This is evidenced in the increasing amount of pro bono advisory and consultation work done by the Company and firms in the profession. In 2012/13, the industry contributed an estimated £80m to various good causes, about three-quarters of which came in the form of donated professional time.
The Company has for many years run a notable pro bono programme to charities. It has provided £6 million worth of advisory and consulting services to almost 100 organisations. It also works through The Princes Trust and helped found the Centre for Charity Effectiveness at the Cass Business School as a centre of excellence, with courses and consultancy for trustees and management of charities.
The Company was highly instrumental in establishing the KnowHowNonProfit website, a pioneering information and guidance resource for charities. It also maintains a Charitable Fund, making cash donations to two principal causes and other lesser grants.
In many of the countries the Lord Mayor will visit, local consultancy is short of experienced talent, so the UK profession can accelerate overseas businesses by bringing deep expertise, moderated by the actual local needs. In advanced economies, UK consultancies provide best in class expertise. Their services can be used by foreign firms aiming to grow in the UK.