Using OXYGEN Advisory and Consulting Services for Profitable Ventures
Among the most common questions we hear as financial advisors are, “Why on earth should I hire you when I can manage my own money, investments and assets? I have my own wealth and if I want to make other investments there’s a ton of information and advice available on the internet.” We at OXYGEN Advisory and Consultancy Limited totally understand the concerns. Financial advice typically costs some value or a percentage of your portfolio per year. It is only natural (and prudent) to want to know if you are getting what you pay for.
OXYGEN Advisory and Consultancy Limited thinks differently! There is little doubt that calling on the service of a corporate advisory service provider or management consultant can often prove to be a valuable investment and can positively impact profitability, provided that…
- The client allow enough time for the whole exercise;
- The client has clearly identified the opportunity or the problem area(s) and the objective has been carefully defined;
- The client knows what he or she wants the consultant to do, having identified all the necessary steps for the task at hand.
- Most importantly, the client has put in some effort in selecting the right consultant and consciously measuring progress towards the required solution.
This narrative is targeted at prospective users of consultants and advisory services and suggests some of the questions they should ask themselves before approaching a consultant to undertake an assignment.
In our quest to submit OXYGEN Advisory and Consultancy services to our clients we researched what Advisory and Consultancy services meant to our clients. We traced the etymology of the concept in scholarly and professional research. It was revealed that various scholars and management professionals have defined the subject differently. Larry E Greiner and Robert O Metzger, Prentice Hall 1983 said that “Management consulting is an advisory service contracted for and provided to organizations by specially trained and qualified persons who assist, in an objective and independent manner, the client organization to identify management problems, analyse such problems, recommend solutions to these problems, and help, when requested, in the implementation of solutions.”
OXYGEN Advisory and Consultancy services provide the end users with tried and tested expertise. Since OXYGEN Advisory and Consultancy services personnel are immersed in their specialism, they are well-placed to advise on state of the art business practices and strategies in Ghana. It may be impossible for an organisation to tap such expertise in any other way. There is no gain saying that projects are mostly inundated with resource constraints and costs – be it short or long term projects or initiatives. It may be more cost-effective for a company to buy in skills as and when they are needed. OXYGEN Advisory and Consultancy provides services that are required for an overstretched management team or supports the pursuit of projects that would otherwise not be completed. Our Ghana business advisors provide outsider viewpoint that may not be obvious to those on the inside or say things which members of staff may fear to articulate. Equally, employees may be more willing to agree to a course of action if they know that impartial advice has been taken.
OXYGEN Advisory and Consultancy agrees that corporate advisory can be fairly expensive. The end result may sometimes be unsatisfactory although steps will be taken to guard against this. In some instances, some consultancy firms leave the work to junior consultancy staff once the assignment starts or personnel may change during the project. There may be resentment from staff at the employment of consultants.
Making Things Happen the OXYGEN Advisory and Consultancy Way:
At OXYGEN Advisory and Consultancy Limited in Ghana, we involve senior management from the beginning. We seek to gain their approval for the decision to use consultants and keep them informed during the selection process. This we believe will help ensure that clients’ choice of consultant will be accepted at the top level.
The business consultants at OXYGEN Advisory and Consultancy Limited recommend that clients gain an awareness of the number and scope of management consulting firms. Some offer a wide range of services, whilst there are others which specialise in particular industries, certain areas of business activity or smaller or larger organisations. We point our clients to a list of possible consultants. In areas where we are not thick, we suggest to clients that there are a number of directories and registers available for identifying consultants and advisory firms but recommendation is also commonly used. We advise that clients make sure they obtain references from previous clients to establish a consultant’s track record.
OXYGEN Advisory and Consultancy Limited recommends that clients ask for a preliminary survey from consultants on their short list. This should be free, although in certain circumstances a nominal charge may be made. It should enable you to establish the extent to which the consultant can help the client, the likely benefits, and the duration of the job. It should also help you to study the consultant’s approach to the problem and to your organisation. Ask for a written report of the survey.
OXYGEN Advisory and Consultancy Limited constantly submits proposals to clients and prospective clients. WE ensure each proposal contains the following inputs: an understanding of the situation or need; a programme of work; an indication of the consultant’s management style and approach; a timetable to accomplish the work; details of staff involved, including relevant qualifications and experience; the resources required, such as time, information and equipment; estimates of fees and costs and a summary of the results and benefits to be achieved from the project.
OXYGEN Advisory and Consultancy Limited measure actual progress against the agreed objectives of the assignment. We ensure that clients’ requirements are not being shrouded by consultant preferences. We ensure the consultant summarises the findings and conclusions of the project either in a report or in a presentation. We ensure there are no misunderstandings or errors.
In using OXYGEN Advisory and Consultancy Limited we ensure clients check that the new development and procedures proposed are being implemented and properly applied, and that they are not being undermined by old methods and concepts. Discuss with staff concerned any particular difficulties which arise during implementation. We ensure clients regularly examine the results being achieved and insist on follow-up visits from the consultant at appropriate intervals after completion of the project.