• Title/Summary/Keyword: Business Management Consulting

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Impact of Competency of Consulting Company on Business Performance: Focus on Franchise Companies

  • CHO, Young-Re;KIM, Moon-Myoung;SEO, Min-Gyo
    • The Korean Journal of Franchise Management
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    • v.11 no.2
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    • pp.7-15
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    • 2020
  • Purpose - The purpose of this study was to structurally verify how the competency of consulting company affects the business performance of consulting client firms through consulting achievement and consulting utilization. It aims to provide information for successful consulting and suggest strategic measures to improve consulting performance. Research design, data, and methodology - This study examines the structural relationship between competency of consulting company, consulting performance, and performance of consulting client firms. In this model, competency of consulting company consists of three sub-dimensions such as reputation, ability to perform business, and expertise. For these purposes, research model and hypotheses were developed. This survey was conduct ed for employees of companies that have experienced consulting in the past year. A total of 195 were used for this study. The data were analyzed using frequency analysis, confirmatory factor analysis, correlation analysis, and SEM with SPSS 18.0 and Amos 18.0 statistical program. Result - The results of this study are as follows. First, reputation, ability to perform business and expertise, which are sub-dimensions of consulting competence, was found to have positive effect on consulting achievements and also found to have a positive effect on utilization. Second, consulting performance was found to have positive effects on business performance of consulting client firms. It means that the management's willingness to utilize consulting results and the achievements of consulting performance have a positive effect on the company's management performance. Conclusions - Consulting firms need to perform customer-oriented consulting by accurately recognizing what management consulting is required by the client firms. The academic significance of this study was that the research was conducted through structural empirical analysis, not only from the relationship of competency of consulting company to consulting performance, but also to the relationship of business performance of client firms. In addition, the practical implication of this study is that clients can actively utilize the results of consulting to lead business performance.

A Study on the Service Quality of Management Consulting of Traditional Korean Markets and This Affects the Management's Performance - Mediating Effects of Utilizing Management Consulting - (전통시장의 경영컨설팅 서비스품질이 경영성과에 미치는 영향 - 컨설팅 활용도의 매개효과 -)

  • An, Sang Hoon;Park, Mi Ra;Lee, Yong Chul
    • Journal of the Korean Society of Food Culture
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    • v.34 no.4
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    • pp.401-410
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    • 2019
  • This study investigated the influence of the quality of a business management consulting service and the mediating effect of utilizing a business management consulting service. For this purpose, data was collected from 200 self-employed workers of the Moonchang market in Dasejun, the Yongdap market in Seoul and the Jatgeoeul market in Gapyeong. The result of the study are as follows. First, it was found that the quality of interaction, the quality of the result and the quality of the physical environment have significant influences over peoples' financial aptitude. Second, it was found that the quality of the interaction, the quality of the result and the quality of the physical environment have significant influences over peoples' non-financial aptitudes. Thirds, the evaluation of a mediating effect of utilization of a business management consulting service on the relationship between the quality of a business management consulting service and business performance showed that it has a significant influence in all ways and so this, proved its mediating effect. Therefor, as one of the means to activate traditional markets in Korea, it would be beneficial to actively introduce a business management consulting service and this would achieve a better performance through efforts to change the perception of employees and consultants about post-management of business management consulting services.

An Establishing of Fisheries Management Consulting System : focused on the case study of similar organizations (어업경영컨설팅 체제 구축방안 : 유관기관 사례연구를 중심으로)

  • Hwang, Jin-Wook
    • The Journal of Fisheries Business Administration
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    • v.41 no.2
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    • pp.153-174
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    • 2010
  • This study is aimed to analyze the establishing of fisheries management consulting system by case study of similar organizations. For a gradual extension of new technology of fisheries, National Fisheries Research and Development Institute(NFRDI) has launched fisheries consulting project including management in 2010. Fisheries management consulting needs practical and theoretical background regarding its standardization of process, systematization. To achieve this, fisheries management consulting system has to follow farm management consulting system by means of benchmarking. In order to analyze farm management consulting system, I investigated its role organizations(MIFAFF, RDA, KFRI), farm consulting guide. And also, it was conducted to investigated establishing of fisheries management consulting system through development of standard management consulting table and consulting indicators. The research results showed that the realm of fisheries management consulting should be redefined and systematized apposite to the case of fisheries actual conditions. In recent years, to enhance improvement of the fisheries income, there is need to be focused on the efficient utilization of fisheries management consulting system. It is expected that fisheries management consulting system be main issue in fisheries industry.

Development of the Enterprise Process Evaluation for Small and Medium Business Consulting (중소기업 경영컨설팅을 위한 전사적 프로세스 평가모델 개발)

  • Cho, Jey-Ryong;Lee, Heejung
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.35 no.4
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    • pp.41-47
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    • 2012
  • To adapt to a rapidly changing business environment, introduction of new management techniques and innovative activities are crucial. In the case of small and medium companies, the compensation for scarce management resources and sustainable development can be obtained from advantage of management consulting. In this study, we propose the enterprise process evaluation model for small and medium business consulting, which can deploy the process improvement activities with considering the process maturity level within an organization. The process evaluation area of proposed Small and Medium Business, Staged Maturity Model (SMB-SMM) consists of four following parts: supply management, demand management, business management, and research and development (R&D) management. For each area, we set goals and also define the practices to achieve their goals respectively. By applying the SMB-SMM model to the small and medium sized companies, the process maturity level can be defined. And then to overcome the gap between the goals and evaluation results, the customized management consulting activities can be drawn from the predefined consulting approaches from the SMB-SMM.

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 (경영컨설팅이 기업의 경영성과에 미치는 영향에 관한 연구: 컨설팅 요소의 탄력성 분석과 기업의 업력 기준 집단분석)

  • Lee, Yoo Hwan;Seo, Young Wook
    • Knowledge Management Research
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    • v.19 no.4
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    • pp.39-58
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    • 2018
  • 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.

Measuring Service Quality of Management Consulting (경영컨설팅 서비스품질 측정에 관한 연구)

  • Park, Byung-Ho;Lee, Dong-Won;Kim, Youn-Sung
    • Journal of Korean Society for Quality Management
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    • v.33 no.3
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    • pp.47-58
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    • 2005
  • In this age of highly competitive world of business, the demand of management consulting is increasing for companies seeking to achieve and maintain competitive advantages over their competitors. Along with its continuously growing market trend, therefore, the quality of management consulting needs to be measured in order to improve customer satisfaction. In this paper, we developed measurement items of the service quality in management consulting using the dimensions of the SERVQUAL model, analyzed the validity of the dimensions, and examined the differences among the effects of those dimensions on customer satisfaction and customer loyalty.

The Effects of Management Consulting Quality and Consultant Capability on Entrepreneurial Firms' Performance (창업기업의 경영성과에 있어서 컨설팅품질과 컨설턴트역량의 영향에 대한 연구: 흡수능력과 자원역량의 매개효과를 중심으로)

  • Yoon, Ki-Chang
    • Journal of Distribution Science
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    • v.14 no.5
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    • pp.81-89
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    • 2016
  • Purpose - Prior researches have empirically focused on the effect of management consulting quality and consultant capability on entrepreneurial firms' performance. This study, however, focused on investigating the moderating role of absorptive capacity and resource capability between management consulting and entrepreneurial firms' performance. So, this study investigated the relationship among consulting quality, consultant capability, absorptive capacity, resource capability, and entrepreneurial firms' performance from the resource based view (RBV). Especially, this study focused on the mediating role of absorptive and resource capability in relational structure of entrepreneurial firms' dimensions. Research design, data, and methodology - In this study, research hypotheses and model are established by the prior researches from the fields of strategic management and entrepreneurial behavior. Concretely, H1~H4 are the relationship between consulting (consulting quality, consultant capability) and innovation (absorptive capacity, resource capability); H5 is the relationship between absorptive capacity and resource capability; and H6~H7 are the relationship between innovation (absorptive capacity, resource capability) and management performance. The data was collected 207 copies from entrepreneurial firms in South Korea. These firms were established in January 2014 and maintained by November 2015 in high-tech industry. The questionnaire was consisted of five dimensions; consulting quality, consultant capability, absorptive capacity, resource capability, and management performance. Each dimension measured multi items on a 5-point Likert scale. The hypotheses and research model are analyzed using structural equation modeling (SEM) with AMOS 22. Results - The results of this study are as follows. 1) Consulting quality significantly influenced on the absorptive capacity of entrepreneurial firms. 2) But, consultant capability did not influence on the absorptive capacity of entrepreneurial firms. 3) Consulting quality and consultant capability significantly influenced on the resource capability of entrepreneurial firms. 4) Absorptive capacity significantly influenced on the resource capability of entrepreneurial firms; 5) Absorptive capacity did not significantly influence on the management performance of entrepreneurial firms. 6) Resource capability, however, significantly influenced on the management performance of entrepreneurial firms. By these results, absorptive capacity of entrepreneurial firms had a mediating role partly among consulting quality, consultant capability, and management capability. The resource capability of entrepreneurial firms had a mediating role among consulting quality, consultant capability, and management capability, perfectly. Conclusions - According to this study, the high level of consulting quality and consultant capability may enforce the resource capability of entrepreneurial firms. It means, practically, that external knowledge is a driver for innovation, and then the innovation effects on the management performance of entrepreneurial firms. So, at the initial stage, the management consulting programs are very important to entrepreneurial firms and should be conceived as an essential element. This study may contribute to the advancement of academic in field of new start business, small business, or venture business based on resources, especially the role of absorptive capacity and resource capability between consulting programs and management performance. However, this study has some limitations. They are the measurement of consulting quality's items, cross-sectional research, and the limitation of concept and industry.

A Study on the Development of Profit Model for Sustainability of Consulting Research Institutes (컨설팅 연구기관의 지속가능을 위한 수익모델 개발에 관한 연구)

  • Kim, Young Jin;Cha, Woo Chang
    • Journal of the Korean Society of Systems Engineering
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    • v.15 no.2
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    • pp.79-86
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    • 2019
  • Among the government-sponsored projects supported by Ministry of SMEs and Startups(MSS), the financial support of the Consulting Research Institutes of our university is scheduled to be ended this year. In this regard, this study is to develop a profit model for R&D center of Consulting Research Institute that can cultivate the financial independence of R&D center of Consulting Research Institutes and foster technology convergence consulting manpower to strengthen the competitiveness of SMEs in preparation for the Fourth Industrial Revolution. The profit model were derived from the current status of consulting industry and similar organizations, the current status of consulting graduate R&D centers, case studies of other universities, and focus group interviews. In order to select three high profit models and commercialize them, BMC (Biz Model Canvas) was used and business feasibility was examined. Therefore, three profit model of R&D center of Consulting Research Institute are: First, SCB (SME's Consulting Business: Total Solution Provider for SMEs through Technology Convergence Consulting), Second, SNB (SME's Network Business: Experts connection in Consulting Graduate School for Solving Problems and Problems of SMEs / Industry Consolidation) And third, SM (Sustainable Management: Financial independence through structural improvement of Consulting Research Institute), and the road-map was established. As an implementation plan, the company intends to seek financial independence by developing a profit model for R&D center of Consulting Research Institutes and by establishing business goals and strategies, manpower operation plan, organization, and investment plan for three years.

Strategies to Improve Farm Management Consulting Practice (농업경영 컨설팅의 발전방안에 관한 연구)

  • Kim, Jae-Hong
    • Korean Journal of Agricultural Science
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    • v.28 no.1
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    • pp.41-47
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    • 2001
  • Farm management consulting is recently widely recognized as farm business becomes more commercial. For better consulting practice, this paper analyzes current status of consulting practice and then suggests few strategies for consulting practice. Firstly, basic farm managements consulting should be strengthen, which have been done by technological center in local governments. Secondly, farm management consulting institutions must be specialized, in terms of role for each institution. Thirdly, we should train and produce more consultants specialized in field needs. Finally, aftermath program have to be developed for estimating consulting benefits.

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Financial Performance Analysis of Government-Supporting Consulting Business to Small and Medium Enterprises : Focused on Corporate Growth Supporting Center in KICOX (정부지원 중소기업 컨설팅 사업의 재무적 성과분석 : 기업성장지원센터 사업 기준)

  • Jung, Hai-Il;Choi, Jeong-Hye;Lee, Sang-Ryul
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.40 no.4
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    • pp.38-45
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    • 2017
  • As the competitiveness of SMEs (small and medium enterprises) is getting more and more improved and globalized, the government provides various consulting services to secure the competitiveness of small and medium firms and support stable growth. However, the assessment of the result from the government's support is generally focused on non-financial factors, such as customer satisfaction and analysis of improvement effect. This paper is in regards to the statistical analysis of how much the government's support in the form of providing consulting services contributes to financial outcomes in terms of profitability and growth. ROA (return on asset) and ROS (return on sales), which are investment profitability and sales profitability respectively, are chosen as an indicator of profitability. For analysis of growth, sales revenue and total asset growth are used. The samples are 44 corporations which are supported by government, and 150 corporations which are selected for comparison, with corporate growth support center program by the Ministry of Trade, Industry, and Energy chosen as the consulting model. After gathering the yearly balance sheets and income statements of the samples from CRETOP, Korea Enterprise Data, the analysis is conducted in the way of identifying the statistical significance of financial difference in the same period between corporates taking consulting services and corporates which have not, and the difference of financial outcomes from the corporates taking consulting services before and after consulting services. As a result, in terms of business growth, it is turned out to have positive difference both in growth ratio and profitability compared to the compared corporations at the significant level. Therefore, it is obvious that the consulting program which government provides to SMEs have direct influence practically to the corporates' management performance.