Coursework Management Consultancy in a Global Environment Assignment Sample
1. Description of the firm and briefing problems
Business needs seemed to be gaps that were present in the current state of their business in order to achieve their goals and meet requirements. The process can only be maintained by hiring people, standard systems, and tools and by maintaining good relation with their customers and enhance quality of their art gallery.
Company A is an art gallery that sells photographs, paintings, prints, and sculptures from Spanish and British artists and sells them on their platform. The organization has provided a charge as a fixed annual subscription fee to show their talents, in this way artists can produce their works in front of their customers. It was an opportunity for their artist to show talents in all these events organized by organization A in different areas. For the artworks that were sold during these events, artists needed to provide an adequate amount of commission ranges from 10-25% depending on the type of their product (As per case study). Company A, want to boost its sales and attract more customers with the help of consultancy.
Major intension of contacting with consultancy is to eliminate any chance of getting affected due to pandemic. Along with it, Company B and C has been consistent in running their business and with the progress of time, a slight deflection seemed to be present in the graph.
Figure 1: Revenue graph of companies
(Source: As per case study)
However, in the last 2 years, it was found that sales from this exhibition have decreased largely which created problems for art galleries. A sudden drop of Company A was found from the year 2017 to 2019 and a total decrease of almost £30,000,000 was found during this period. Company G has performed properly and consistently over the years from 2012 to 2019. It has almost toughed a total revenue of £100,000,000 within a span of seven years. However, all its major competitors have achieved same amount of sales for all years which lowered the standard of Company A comprehensively (As per case study).It hampers the life of their artist for earning adequate amounts of money for their showpieces and other sculptures.
Major problem that arises towards art galleries is that customers were not trying to support their artists rather they only focused on value for money. Due to this reason, talents have started diminishing to a huge extent, they have started to choose other platforms for showing their talents, and some choose other professions (As per case study). It can be assumed that considering a contact with consultancy will help the organization to generate more revenue and higher success can be achieved.
It was found that people were not being attracted towards their art galleries, for attracting their customers and saving the artists organization chooses innovative methods. Art gallery organizations have provided advertisements on Facebook, Twitter, and Instagram for enhancing their customers to attend their platforms and purchase some innovative items. Along with its organization A has also, started Facebook ads and pay-per-click on Barnebys also called media coverage for their getting enormous attraction in the UK (As per case study). Taking these adequate steps as a consultant organization can expand their business and increase their profit margin by a sustainable extent. It was decided among the board of directors that artists needed to be present in these art galleries while organizations were conducting a two-week event in the centre of the country (As per case study).
Due to their presence, it can enrich the environment of the gallery as they can explain their thoughts towards their customers. Many customers did not understand their facts associated with their sculptures, photography, and other items. According to Eder and Koch (2018), it can help their organization to expand their profit by media coverage; the main thing is that Spanish artists have also grabbed some attention from Britain citizens. As their popularity can increase in these markets keeping them motivated and helping them to work enormously and produce some items with their artistic talents (As per case study). It was identified that Organization A has lots of competitors in their markets like government-funded charities which promote Spanish artists extensively along with it they also conducted different business models for maintaining their market scenario adequately.
Apart from it, the Pandemic situation created lots of problems forth art gallery as people were coming out of their houses and joining in their events. In the major time online presence from organization, A has helped their customers to choose their favourite photographs and other sculptures; organization has started to deliver their chosen product with soft hands at their doorsteps (As per case study). Due to this strategic thinking, organization Awes able to run their business in these tough situations and their customers also showed loyalty for retaining their artists in this challenging situation.
Facing huge losses due to this pandemic situation, the organization is now trying to add some unique methods for their expansion and organize lots of events across different parts of the country. In order to promote their sales Organization A needs to engage their artists extensively during their event program and attract new buyers to join with this program this can lead them for further expansion(As per case study).
2. The consultancy strategy
2.1 Type of consultancy model
Organization A needs to adopt a hybrid method for expansion of their business properly as both the models seem to be more appropriate which can help them for their expanding profits. Applying expert consultancy methods can help to hire a specialist in their relevant fields and their experience can help them to resolve necessary problems, create new models for grabbing attention of a large number of customers. On the other hand, applying process consultancy methods can help to enrich their relationship with their customers for promoting their business and helps them to explain about their creations. According to Rauch et al. (2019), it can be said that both these items were equally necessary for increasing their sales largely.
In order to enhance their client’s skill set, it is necessary to provide relevant training on the basis of their works. Employees needs to deal with their customers daily through attending calls and messages, which needs to enhance their communication skills and become an active listener (Warner and Wäger, 2019). Primary requirement of consultancy help is to bring more stability in business and strengthening strategy made for business growth. Expert consultancy model has been chosen to take best possible action for development of business to a certain extent. Process consultancy method is not taken since Company A is not sure about business process that needs to be conducted by the company to gain higher revenue. According to Lutz et al. (2019), an effective model of consultancy is required to be adopted by businesses to work in proper ways and earn more consumers. As per client’s skill set it can be determined that work packages such as providing them with better offers can be beneficial.
2.2 Resources
Standing in this challenging situation where many giant organizations were trying to provide a restart, organization needs to retain its key employees and artists. According to Noel et al. (2019), in conducting events regularly in different areas, organizations need to provide some opportunity for job seekers for arranging an adequate space for their operations. It was necessary that these artistic talents needed to be preserved and transported without maintaining any damage. ‘Organization A’ needs to enrich their online platforms and data safety of their customers gaining support from them. According to Tesch et al. (2017), along with it, human resources need to be enriched as the number of client’s increases in their platform. It was beneficial for them for combining adequate varieties of products in their events, which can attract lots of common people to join in their campaign.
A team that was already present in conducting this entire event at the art gallery needs to be provided with proper training, which helps them to make better communication with their consumers. According to Warner and Wäger (2019), a number of employees must be divided into small groups consisting of 5 members, and to watch their activity a manager was appointed for monitoring these entire activities. A senior manager needs to be appointed to enhance the skills of their managers, which can help them to guide their employees and perform their tasks easily.
2.3 Timeline
After healing from this pandemic situation people were returning to their original lives and art gallery organizations were started to regain their natural shape. According to Baiyere et al. (2020), the art gallery has started their exhibition with artistic talents of their experts along it and takes some bold steps in expanding their business. Identification of potential growth stages and initializing export sales are two major factors that can help art gallery to earn more reputation. Development of better gallery premises is highly necessary for Company A to achieve their main business need that is to attract more customers. Attractive gallery premises will be able to gain attention of more customers that will provide a positive impact on overall sales of the organization (Baiyere et al. 2020).
| To: Client Date: 01.03.2021
From: Project Manager Subject: Management Consultancy in Global Environment |
| Objectives for Meeting: Strengthening Globalization Strategy |
| Current Understanding of Situation: Project Initiation |
| Questions to be Discussed in Meeting:
· Will the project meet demand of their customers? · Will it be cost efficient towards their artists? · What will be the necessary resources allocated to this project? Our Questions for You: · Is the budget is comfortable? · Does the customer agree with their price? About Our Capabilities: · Performance Levels · Professional Business Developers · Hi-Tech IT Solutions Your Questions for Us: · Will the project be completed within deadline? · Will the project objectives be met in new market? |
| Other Areas of Interest:
· Creating regular events · Marketing Initiatives · Providing adequate discounts for their annual subscribers |
| Next Steps and Timetable
1. Project Development Strategies [Project Manager, 2-3 Days] 2. Selecting Market Segmentation [Business Developers, 15-20 Days] |
Table 2: Schedule of clients meeting
(Source: Created by researcher)
2.4 Scopes and target
Targeting most appropriate customers- Customers will know about major elements of art and crafts that are available in Company A with the help of social media. Comments provided by customers in social media will create a better opportunity for company to know about requirement of consumers. According to Reymen et al. (2017), brands are required to know about requirement of customers in order to make changes according to their need. Great scope of targeting more customers can be generated by Company A to boost their sales. High standard can be maintained by the organization after letting customers know about their new collection of arts.
Figure 3: Scopes and target
(Source: Created by researcher)
Enriched role of marketing managers- Marketing managers need to enhance their employees and prepare a plan for enriching their business to a next level. The main aim of organization A is to increase their market shares by increasing their number of events and penetrate new markets for attracting new artists to join their campaign. According to Baldassarre et al. (2020), in order to provide tough competition towards their competitor’s organization A needs to perform online activities for selling of their products and minimizes their annual subscription for their artists in joining these events. Hiring proper marketing managers with good expertise in the field will be beneficial to achieve great success in future.
Penetration into the new market- Expansion of their business in the new market was a challenge and bold step for their managers, which can help them to regain their profit margin by attracting a huge number of people. According to Aydiner et al. (2019), online advertisement and pay-per-click, technologies can help them to discover more people and foster their business appropriately. Implementation of penetrating in new market can create better opportunities for art gallery to attract wide range of customers.
2.5 Risk and deliverables
Deliverables
- The consultancy needs to give suggestions to art gallery regarding increase in sales of arts and pictures. Primary step that the art gallery need to do is to provide advertisement according to price structure of various arts from high to low. According to Ashraf et al. (2019), brands are required to keep in mind that customers come from different background and they have their own type of requirements. Major suggestion that can be given to the art gallery is to keep prices of products for all sorts of customers.
- Another great step that can be suggested by the consultancy is to communicate directly with all customers properly. It might create more opportunities for the art gallery to conduct tasks based on customer requirement. According to Bennun et al. (2018), it is necessary for brands to develop strategies based on requirement of customers. The consultancy can help by giving idea to art gallery about benefits of one on one communication with purchasers.
Risks
Increase in overall budget- Expert consultancy model can help the organization to achieve higher rate of success in future. However, there are major risks included in taking expert help such as expansion of budget. Hiring consultancy for taking help might cost a lot of money for Company A that might affect its overall revenue. According to Feller and Schanz (2017), increase in budget for other purposes that are more required for business might affect brands to eliminate some important factors. Experts’ knowledge might not be beneficial for managers of Company A since they might have minimal idea regarding expert suggestions.
3. Conclusion
Based on the above discussion it can be concluded that lots of knowledge about client’s firm has been achieved according to which future solutions need to be made. The engagement with consultancy and client has been effectively conducted based on which it can be considered that requirement of communication with customers is necessary. Company A is not able to reach out to customers properly due to which its arts are not known to consumers. The meeting has created great opportunities to understand about further solutions that can be implemented to achieve better growth. Interaction of firm with consultancy has helped Company A to know about current situation of market and the techniques used by other companies during this pandemic situation.
After completion of the meeting with consultancy, it can be concluded that promoting about gallery on social media will be highly beneficial for organization. The client cannot reach consultancy for further assistance since the consultancy will charge money again to provide any more suggestions. Hence, it can be said that the client firm need to ask for solutions for business growth during first meeting. Lots of time can be saved by Company A once it gains suggestions of taking proper steps of business growth during the process of meeting. It can be concluded that major objective of organising a meeting has been met since all possible factors for business growth has been discussed during this meeting process.
4. Self-reflection
I have learned that it is necessary for brands to take help of expert consultancy once they think their business needs support to achieve higher rate of success. Business development activities I have learned from after conducting this study is that social media marketing is a great strategy to improve overall sales and generate more revenue for businesses. I have experienced that many small firms in UK such as StepChange Outsourcing and RedRock Consulting have gained extensive growth by implementing social media marketing to catch attention of customers. Major learning gained for the growth of businesses is that market shares can be increased and attention of customers can be grabbed by conducting market research from other brands (Feller and Schanz, 2017).
Consulting industry is highly popular in UK and in this particular case of this study; I can connect this with real life example of Delloitte taking help from consultancies of UK. I have learned that help from consultancy is highly beneficial for businesses to compete against other brands in market. I have gained immense knowledge about requirement of marketing to gain a better competitive strength in market and attract customers that are more reliable. After completing the course, I have managed to gain an idea about steps like requirement of resources for business growth.
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