[KSCI] Korea Science Citation Index Service

http://dx.doi.org/10.15813/kmr.2018.19.4.003

A Study on the Effects of Business Consulting on the Business Performance: Analysis of Elasticity of Consulting Factors and a Group Analysis Based on Firm Age

Lee, Yoo Hwan (대전대학교 경영컨설팅연구소)
Seo, Young Wook (대전대학교 융합컨설팅학과)

Publication Information

Knowledge Management Research / v.19, no.4, 2018 , pp. 39-58 More about this Journal

Abstract

This study explores the effects of business consulting on the business performance of firms by using a unique survey for various industry sectors in Korea. We attempt to build a consulting model that shows the structural relationship between consulting factors and consulting performance. Moreover, through the consulting model, we conduct the analysis of elasticity of consulting factors and the group analysis based on firm age. First, the findings show that all consulting factor has a positive impact on the consulting performance, but in the results of factor elasticity, they have a somewhat different impact. Second, while the support of CEOs is relatively more elastic than other consulting factors with respect to the completion of consulting projects, the institutional condition for consulting is relatively more elastic than other factors with respect to the contribution to business performance. Third, since the high-firm age group has a greater capacity to absorb and utilize external knowledge and resource, the consultant competency and institutional conditions have a more impact on the consulting performance than the low-firm age group. On the other hand, in the low-firm age group, the result indicates that the support of CEOs has a more impact in the consulting performance than the high-firm age group. According to the total effect, the support of CEOs in the entire model has the highest impact on the consulting performance. Thus, it is probably difficult to achieve the improvement of business performance through consulting as well as the successful consulting projects without the CEOs' commitment and awareness about the consulting projects.

Keywords

Business consulting; Consultant competency; Consulting environment; Consulting performance; Factor elasticity; Firm age;

Citations & Related Records

Times Cited By KSCI : 7 (Citation Analysis)

Reference
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