STELLA MARIS MTWARA UNIVERSITY COLLEGE

(A Constituent College of Saint Augustine University of Tanzania)

STEMMUCO

FACULTY OF BUSINESS ADMINISTRATION

DEPARTMENT: COMMERCE

COURSE TITTLE: PROJECT MANAGEMENT APPRAISAL

COURSE CODE: GM 321

COURSE INSTRUCTOR: MADAM ASSUMPTA

NATURE OF WORK: INDIVIDUAL ASSIGNMENT

ATTEMPTED BY: MIKIDADI ALLY

REGISRTATION NUMBER: STE/BBA/ 123184

TASK: Types of Consultants

Basically consulting involves providing expert advice to others. Hence the types of consultants
will revolve around the professions or expertise that they possess. The most popular are as here
under:
1. Strategy Consulting
2. Operations Consulting
3. Financial Advisory Consulting
4. Human Resources Consulting
5. Risk and Compliance Consulting
REQUIRED: Explain the areas of advice that the consultant will offer under each type of
consultant mention above.

SUBMISSION DATE: 23/06/2020

 CONSULTANTS AREAS OF ADVICES

INTRODUCTION:

Consultant

An individual who provides professional advice or services for a fee, but normally not as an
employee of the engaging party. Advisor, in a position to influence, no power.

Opinion or advice

Rendered exclusively in the interests of the client and can cover review, analysis,
recommendation and implementation

Consultants

Are people who opt to share their knowledge and experience with a business to improve their
performance, solve problems and innovate new thinking. There is a huge need for consultants in
the market right now, as they are cheaper than full-time employees and offer a new perspective
on a problem that might lead to its solution. But consulting is equally as challenging as it is
rewarding. One of the best parts of this field is its diversity as many different types of consulting
exist, each more suited for a particular type of business. Let's look at some of these consulting
types that exist.

Types of consultants

Basically consulting involves providing expert advice to others. Hence the types of consultants
will revolve around the professions or expertise that they possess. The most popular are as here
under:
1. Strategy Consulting
2. Operations Consulting
3. Financial Advisory Consulting
4. Human Resources Consulting
5. Risk and Compliance Consulting
THE EXPLANATION OF AREAS OF ADVICES THAT THE CONSULTANTS WILL OFFER
UNDER EACH TYPE OF CONSULTANT MENTION ABOVE IS AS FOLLOWQING:

Strategy Consulting

This kind of consulting deals with the long-term vision of the company. Consultants focus and
assist in seeing the bigger picture and thereby identify ways to make the business more
competitive and profitable in the market. They come up with strategies that help reach long-term
goals and even oversee its implementation and make sure that they are cost-effective and
efficient.

Strategy Consultant Areas of Advices

Strategy Consultants complete various types advies of tasks throughout a daily workday. We
examined several advices listings for Strategy Consultants and found the following to be among
those that are commonly listed under the job responsibilities for this position.

Analyze Business Goals and Objectives

This is one of the areas of advice that the strategy consultants will offer because one of the main
roles of Strategy Consultants is to analyze a current business’s goals and direction and ensure
that practices align with company objectives. They will make advices or suggestions to improve
practices and adjust a company’s goals and mission to increase performance and market share.

Study Market Trends

This is another areas of advice that the strategy consultants will offer because Strategy
Consultants are responsible for monitoring market trends to help a company adjust to changing
conditions that affect goals and production. They provide advices that will identify key markets
in which a company should be involved and help companies adjust to be successful in market
changes.

Evaluate Competition

This is another one of the areas of advice that the strategy consultants will offer It is helpful for
companies to understand competitor practice and market behavior and it is up to Strategy
Consultants to supply this information. They will analyze what works and what does not work
for competitors to help their companies employ successful tactics and avoid pitfalls.

Assist in Decision-Making Processes

This is also one of the areas of advice that the strategy consultants will offer because Strategy
Consultants work closely with upper management and executives to help make key budgeting
and production decisions. They evaluate current practices and make suggestions to cut costs and
increase revenue by developing solutions for problems in these areas.
Operation Consulting

Operation consultants help clients reach their goals by overseeing their systems. They assess all
levels of the clients operation including sales, production and customer service to make it as
efficient as possible. They are more interested in making processes as refined as possible to save
the maximum amount of money and time.

Operation consulting and strategy consulting are closely linked. While strategy consultants focus
on achieving long-term goals, operation consultants make it so that these goals can be achieved.
Due to this, many firms offer both these services.

Operations Consultant Areas of Advices

Operations consultants play a significant role in ensuring the optimal performance of an

organization’s overall operations. A few of their main areas of advices include:

Drive Operational Excellence

An operations consultant sets the pace by guiding a team’s efforts to ensure the right processes
are being utilized in the right manner. They also make decisions and recommendations when the
division is faced with operational difficulties.

Client Engagement

Interacting with both internal and external clients to identify current processes that are in place
and teaching them about best practices and process improvements is an essential part of an
operations consultant’s job.

Project Management

This is another one of the areas of advice that the strategy consultant will offer due to provide the
advices that Helping to plan, design, and implement new operational processes, operations
consultants are instrumental in process improvement projects from start to finish.

Maintain Strong Industry Knowledge

Staying abreast of current trends, pricing, and new technology in their industry aids operations
consultants in their evaluation and recommendation of new processes.

Lead Team

This is also one of the areas of advice that the operations consultants will offer because in their
role as team leader, operations consultants oversee team members’ work performance, offering
guidance and advice where needed and providing necessary feedback to management.
Additionally, they offer support to the team when new processes are rolled out.
Financial Consultant

Also known as Financial Advisors, Financial Consultants provide advice to clients on taxes,
retirement planning, investments, and insurance decisions to help clients achieve their financial
objectives. Financial Consultants are either self-employed or work for financial institutions or
consulting firms.

A financial consultant also offers money management advice to people and businesses. Most
people employ them for guidance on how to reach long-term financial goals, which may include
a debt management plan, investment advice, or developing a savings plan. Organizations also
work with consultants to make sure their business plans are financially viable and to manage
money programs for employees.

Financial Consultant Areas of Advices

Advising clients on taxes, retirement planning, investments, and insurance decisions, depending
on their financial goals.

Developing financial plans to help clients achieve their long-term and short-term financial goals.

Assessing how certain life changes and financial status changes affect clients’ financial plans and
adjusting such plans accordingly.

Traveling to clients’ homes and places of business to consult with them.

Monitoring financial markets and economic conditions.

Soliciting new clients through cold-calling, emailing, advertising, and seminar-hosting.

Communicating with accountants, real estate agents, attorneys, and other professionals to verify
information.Researching suitable investment opportunities for clients.
Human Resource Consulting (HR.)

HR. consultants deal with the employees of a client. They provide advices that help the company
during recruitment and transitions by selecting people most suited for certain positions. They are
responsible for employee welfare and attend to their issues. They are also responsible when there
is a change in management and also take care of remuneration. They need to be very familiar
with company culture and know whether two companies can work together if merged. Finally,
they are also responsible for outsourcing.

Human Resources Consultant Areas of Advice

Advising management on the administration of human resources policies and procedures

Advise HR personnel about any recurring issues and problems

Suggest and manage implementation of suitable HR technology for business advancement

Plan all business strategies and implement all Human resource programs and provide required
feedback and prepare all human resource strategies and monitor performance of all new
programs.

Design and implement all organizational strategies according to all business requirements and
participate in all associate meetings, prepare require presentations and facilitate development of
new human resource processes.

Monitor performance of all staff and manage all communication with team and assist all
employees to resolve all issues according to company policies and maintain compliance to all
record keeping procedures.

Collaborate with management team to administer integration of all new employees into
organization and ensure compliance to all productivity audit policies and prepare and implement
all work according to employee handbook.

Determine efficient hiring system and coordinate with various departments for all payroll
functions and manage all programs and assist to design and customize all training programs and
workshops and manage talent across staff.

Oversee everyday human resource operations for all employees and provide response to all
questions and perform all human resources functions efficiently and maintain cost effectiveness
in all activities and ensure adherence to all human resources.

Collaborate with director and colleagues for all HR programs and policies and monitor all
employee relations and escalate issues for investigations if required and evaluate all decisions
and ensure compliance to all federal and state policies and procedures.
Risk and Compliance Consulting

A compliance consultant is a person who works for a consulting firm or for that matter or
problem as a consultant.

The person may also work its a independent, being a compliance agent for ensuring the fact that
the company they are working for is well and within the standard regulations of the country as
well as the state.

Risk and Compliance Consulting Areas of Advices

A typical Compliance Consultant advises senior management, they also help develop pregrams
and processes to ensure organization-wide compliance with its applicable laws and standards.

Analyze all compliance requirements and design appropriate solutions and perform regular
analysis on same.

Develop and modify all compliance standards and procedures and participate in development of
all compliance programs.

Administer and design all work plans to achieve all compliance objectives effectively and
evaluate all compliance programs and content and perform regular risk assessment on audit on
various compliance programs.

Perform research and maintain knowledge on all regulations and statues and manage large and
complex projects to achieve all compliance objectives.

Manage all complex concepts and ensure transition of same in everyday processes and assist
senior to adopt new ideas.

Design all compliance policies and procedures and implement all new regulations and statutes
and provide necessary training to same.

Manage all communication regarding changes and design required tools to assess all risk and
monitor all processes to ensure compliance with all industry regulations.

Perform all required filling as per requirement and evaluate all audits and answer all inquiries.

Coordinate with cross functional teams and perform all functional SME activities.

Administer all subject matter experts and evaluate all regulations and provide administrative
support to all senior members.

Evaluate licenses of all employees and participate in all meetings with supervisory principals on
quarterly basis.
Conclusion:
A large number of businesses today are hiring external consultants in order to carry out specific
roles within their organizations. The use of consultancy services has been growing not only in
the case of large enterprises, but also in small and medium business environments such as start-
ups and independent organizations.

Consultants helps companies To identify problems clearly or from a different perspective due
when consultants observe and scrutinize the business process, their experience and expertise can
be crucial in identifying areas that could be improved and made more efficient, which may not
be obvious to internal staff, Also Consultants helps companies To obtain specific expertise that
supplements internal staff due to Identify the skills that your company requires for a certain task
that may not be available internally and outsource these- consultants come in many forms and
offer many areas of expertise!, Also Consultants helps companies To plan for launch and
expansion of operations by Using consultancy services to plan launches and events allows the
business to focus on providing the best possible experience for their customers, while consultants
take care of the details that they are already well knowledgeable in. And Also Consultants helps
companies To enable change due to help train internal staff and work alongside them when
implementing changes to the business - this provides the business and internal staff with valuable
expertise that they will use in the future.
References:
https://www.jobhero.com/strategy-consultant-job-description/

https://www.jobhero.com/operations-consultant-job-description/

https://www.jobhero.com/management-consultant-job-description/

https://www.google.com/amp/s/www.greatsampleresume.com/job-responsibilities/compliance-
consultant-responsibilities/%3famp

https://www.google.com/amp/s/www.greatsampleresume.com/job-responsibilities/human-
resources-consultant-responsibilities/%3famp

https://www.talentlyft.com/en/resources/hr-consultant-job-description