Updated: Sep 9, 2019
“Small & Medium Enterprise Owner”
The term management consultant is often confused or unknown in Small and Medium Enterprises (SME's) than it is in Fortune 500 companies. Due to the unawareness of the skillset of management consultants in small and medium enterprises makes them more vulnerable to failure.
Management Consultant is considered to be the first career choice for the top B-schools graduates from England to the United States of America to Canada. Candidates work hard and heavily invest their time and money so that they can work in their chosen field of profession and pursue a passion for consulting.
As per the Innovation, Science and Economic Development Statistics published by Government of Canada in 2007, 99.8 percent of employers in Canada fall under the category of Small (97.9%) and Medium Enterprises (1.9%). It is astonishing to see that not many of the small and medium enterprises use management consulting services.
Let's look at what Management Consultants actually do?
Management Consultants mostly work on the strategic side of the business. Some of their work includes helping organizations or the client enter a new market and perform industry analysis. They can also be hired to develop & execute growth strategies, perform competitive analysis to understand the competitive landscape better. SME's contribute heavily to the GDP of most of the developed countries. It is astonishing to see that neither media nor policymakers take needed initiatives to provide awareness about the management consultants or the benefits of their services to SME owners.
As we generally say, "We know better, then we do better."