MBA 602

1. MBA 602 Consulting Guidelines Dr. Robert Lahm (With Thanks to Dr. Louis Buck for his Valuable Contributions)

2. Consulting Caveats • This is not your business! • You can only make recommendations based on the consulting agreements objectives • You may recommend more than one option and even which option would be best to pursue, but the final decision is the owners • Building a solid relationship with management is mandatory for a successful consulting engagement.

3. Consulting Skills • Technical skills • Experience in the area of interest to the owner or management team • Educational background • Interpersonal Skills • Listen carefully • Ask relevant and well thought out questions • Know how to disagree, respectfully • Encourage the proper implementation • Excellent communication skills • In writing, preparing presentations and verbally

4. Consulting Skills – cont’ • Knowing how to create a positive impact on the company • Knowing how change can be implemented • Stay focused on the client’s needs and not your needs

5. Phases of a Consulting Engagemennt • The Initial Interview • What does the client expect as a final deliverable? • What do you, the consultant, expect can reasonably be accomplished after you understand the situation? • If the expectations differ after the consultant has had time to carefully consider the situation then there is work to be done before your proceed • Remember , there are multiple stakeholders in this engagement • Client, faculty, SBTDC, WCU, team members

6. Managing Expectations • Managing expectations is the most important factor in whether the engagement succeeds or fails • The Values of Success • Expected value – meeting expectations • Perceived value – how does the client value your work product? • Delivered value – your perception of your work product • If there are no gaps between these you have been successful

7. Managing Client Expectations • First, get a clear understanding of the client’s initial expectations • Discuss them and make sure after the initial meeting that you are in agreement – try to make them specific and measurable • (But, remember, people often make decisions at an emotional level.) • Continually track the clients expectations • Circumstances may change during the engagement • Keep listening during the process • Watch for non-verbal indicators

8. Managing Expectations – cont’ • Influencing expectations • Build trust • Educate the client – tactfully • Explain the problem as you get a better understanding • Explain possible solutions or outcomes • Maintain confidentiality, especially if talking to employees talk with the client in private

9. Consulting Contracts • Spells out the legal relationship and which responsibilities belong to each party • Phased contracts are often used • The client has off ramps at more than one place – but so do you • Contracts can be amended as facts become known or circumstances change

10. The Discovery Phase • The initial interview • What information / data can or should be collected • History of the business • Products or services • Owners background • Customers • Suppliers • Competitors • Financial Information • Physical facilities & equipment • Employees – enough, too many, abilities… • Problems and missing information

11. Market and Competitive Research • The Research Report • Industry Analysis • Competitors • Suppliers • Competing products and/or services • State of the industry • Market analysis • E-Commerce • Assessment of the industry – viability, forthcoming technology or process changes, market changes

12. Feedback Meeting(s) • The Intake report combines the consultants understanding of the problem and the market analysis • Meet with the client – essential to gain trust and convergence of expectations • Any amendment to the consulting agreement may take place here

13. Tools • Marketing Audit (Document on WebCat and samples in class) • Strategic Audit (Chapter 3 of Kollat’s Strategy text) • “Guerilla Research” (Lahm – in class) • Sample marketing plans/final projects • SBTDC Guest Speaker - TBA

14. Timetable • October 20, 2009 • Lahm: Introduction to Applied Projects: • Consulting and client relations • Confidentiality agreements (entire class) • Discussion of goals for coming sessions: • By the 27th, teams should have: • 1) Met with clients • 2) Conduct a marketing audit (but, you are not required to create a formal document – samples are shown FYI) • 3) Established a plan to create the project based on client-specific objectives

15. Timetable (Continued) • October 27, 2009 • Lahm: Team Presentations of Applied Project Progress (Oral Reports – Informal): • 1) Presentation of “your plan” • 2) Describe your project and client-specific objectives • 3) Discuss your research findings from your marketing audit and “fact-finding” efforts • Troubleshooting (suggestions from class and/or Dr. Lahm as needed)

16. Timetable (Continued) • November 3, 2009 • Lahm: Groups 8-11* Team Presentations of Applied Project Progress (“Dry Run” of Formal Client Presentations): • Troubleshooting (suggestions from class and/or Dr. Lahm as needed) • * We anticipate the first night may take longer; next week groups 7-11 will present – FASTER! • November 10, 2009 • Lahm: Groups 1-7 (Continued From November 3)

17. Timetable (Continued) • November 17, 2009 • Lahm: Groups 1-6* (Team Presentations of Applied Marketing Analysis - Formal Presentations): • Applied Marketing Analysis – Assessments of Client Situation • November 24, 2009 • Lahm: Groups 7-11 (Continued From November 17) • NOTE: If possible, clients would come for FORMAL PRESENTATIONS (pertaining to their own respective organizations only) on the 17th, 24th, December 1st and 8th

18. Timetable (Continued) • December 1, 2009 • Lahm: Groups 1-6* (Team Presentations of Applied Marketing Problem - Formal Presentations): • Applied Marketing Problem – Your “Program” or “Solution” for Client Situation • December 8, 2009 • Lahm: Groups 7-11 (Continued From December 1) • NOTE: If possible, clients would come for FORMAL PRESENTATIONS (pertaining to their own respective organizations only) on the 17th, 24th, December 1st and 8th