Management Consulting vs. Technology Consulting
Management and technology consulting are two in-demand areas of the consultancy world. Both fields may have the same process of analyzing and coming up with a solution, but definitely, one is not synonymous with the other.
Difference between Management and Technology Consulting
The main difference between the two is the type of advice being given to the company. Management consulting covers the operations, marketing, business expansion, mergers and acquisition, product development and pricing. For instance, if a car manufacturer plans to launch a new car but is unsure of whether or not it’s going to click, the company may hire management consultants to study the scenario.
The advice from a technology consultant is related to how IT systems can improve the productivity, communication or efficiency of a business. For instance, if the finance department of a bookstore with branches all over the country has had problems with untimely submission of sales reports, the management can contact a technology consulting firm for assistance. The consultants will analyze the problem and perhaps introduce an online software solution that can generate real-time reports.
Competencies Required for Management and Technology Consultants
Both types of firm need employees who possess skills in communication, organization, analysis and other relevant management consulting skills and abilities. These skills will be used when consultants meet with top executives, interact with employees, coordinate with colleagues, research important information and train concerned staff. They must also do well in writing concise reports and presenting ideas to other people. Both must also have in-depth knowledge in business as it serves as the rationale behind all activities.
Management and technology consultants are different in their area of expertise. While the former must be knowledgeable in accounting, marketing, economics and human resources, the latter must be updated with organizational best practices, IT infrastructure and must have a good working relationship with software and hardware specialist consultants.
Their areas are interrelated, though. A management consultant who’s analyzing a human resource department’s inefficiency may find out that the main issues lies in having no Human Resources Information System. A technology consultant who’s resolving a glitch in the accounting system may discover that employees are unproductive because they’re not financially motivated. In these instances, firms that offer both management and technology consulting services, such as Deloitte Consulting have an advantage because they can introduce the other services of their firm.
How In-Demand Are Management and Technology Consultants
Management consultants have always been in demand despite the economic downturn. Companies bank on their services because their output helps businesses gain profit and decrease expenses. These past few years, technology consulting has been gradually becoming popular. Since we are already in the age of technology, more companies ascertain their IT investment will contribute to the growth of their business.