1. Assignment title:
Discuss what role innovation has within Management Consultancy’s value proposition from both the client and consultant’s perspective. Using the MCA Value Framework as the basis for your argument, suggest how clients can assess whether value has been delivered when working with consultants?
2. Your task
This is an assignment where you are asked to discuss what role INNOVATION plays within the value proposition of the consultancy profession. You should reflect what role it has within the MCA Value Framework from both the client and consultant’s perspective. What does this mean for both parties? Why should spending money and investing time in allowing consultants to work ‘innovatively’ with an organisation be worthwhile for them? How should consultants present this argument to prospective clients?
1. The survival of management consultancy as a profession is based on its ability to justify the value it delivers to clients. This is particularly true during difficult economic times.
2. Individual consultants can only secure work and maintain relationships with clients by developing their credibility, delivering meaningful and valuable work and having a credible value proposition.
3. The term ‘innovation’ is inherently attractive, but may mean different things for clients and consultants in practise.
4. Management consultancy may not just be a transactional relationship – and value may be realised through the experience of working with management consultants in an innovative manner.
4. Primary objectives
The primary objectives are those objectives that your assignment must address in order to achieve a pass mark.
1. You must demonstrate a clear understanding of what management consultancy is – using a recognised definition and an explanation of a clear approach.
2. You must identify and discuss what is meant by the ‘value proposition’ in the context of management consultancy. What does this mean for both the client and the consultant?
3. You must consider ‘innovation’ with the context of the management consultancy profession. What does it mean? When is it beneficial and potentially not beneficial for the client?
4. You must give your view of what role innovation plays within the MCA Value Framework and how clients can use this to assess whether they have realised value from working with consultants.
5. Secondary objectives
In addition to the primary objectives the secondary objectives provide guidance on areas the assignment should seek to include for additional credits (i.e. to achieve a higher mark):
1. Identify and discuss different kinds of ‘value’ that can be delivered by a consultant
2. Identify and discuss where in the definitions and/or process of management consultancy, consultants can deliver particular value when compared to other professionals/individuals
3. Discuss what is meant by ‘added’ or ‘additional’ value in the context of consulting
4. Discuss circumstances where there is little potential value in employing a consultant.