Monday, 3 July 2017

Become A Management Consultant With Monitor Group

One of the newer consulting firms among the industry's heavy hitters, Monitor Management Consulting is one of the top-tier firms in the world. Founded by Harvard Business School professors, Monitor is based close to where it all began -- Cambridge, MA. Monitor relies on applicants' and consultants' merits and abilities in hiring and promoting. Consultants who deliver outstanding results for the firm and their clients receive higher compensation and get coveted promotions. Monitor is well-known for its individualized approached to salaries and compensation, based very much on individual performance.
The interview process at Monitor is similar to other top firms, such as BCG, Bain, Booz, and McKinsey. Monitor likes to ascertain a potential management consulting professional's abilities through an action-based interview process. That means there is a lot more doing than talking. Right on the spot, interviewees will have to perform an in-depth business analysis to a real-world problem that a Monitor client has faced in the past or is currently experiencing. Monitor values three primary characteristics above all in job applicants - abilities, conceptual skills and learning, and dedication.
Monitor has stayed put where it originated, around Harvard, where the firm got its start, and favors candidates attending school in and around Cambridge and the greater Boston area. They mainly stick to the top 20 schools with a focus on the Ivy League. People wanting to be recruited from a non-Ivy should be prepared to stand head and shoulders above their peers in terms of academics, test scores, involvement, and business acumen.
The management consulting interview process at Monitor is perhaps the most important evaluation tool. Early stages of the interview process are known as "fit interviews." These initial interviews are very conversational in nature and assess whether Monitor and the candidate are a good fit. To prepare for this interview it is best for the candidate to align their personal brand with Monitor's core values and corporate culture. That means studying the company's website and talking to recruiters and associates about what it is like working with Monitor.
Candidates should also have detailed examples of how they produced tangible results on projects they have worked on. Clear, well-communicated, detailed stories are a must. That means a candidate should develop and evolve these conversations.
Early round interviews also include a case study interview that assesses a candidate's analytical ability. Each candidate spends approximately 30 minutes reviewing a business case study that integrates 2-3 pages of text with 4-6 pieces of relevant data. During this interview, the Monitor group looks for a candidate's ability to think quickly, logically, qualitatively, and quantitatively.
If candidates make it beyond the initial interviews they engage in group case study interviews that include 3-6 candidates that must work as a team to come up with recommendations. Candidates must work through a case study exercise as individuals within 30 minutes.
Candidates are then asked to lead a discussion with the group about the case study the group collaborated on. Two Monitor management consulting associates are there to observe. The group interaction is not a competitive exercise. It is intended to be a collaborative exercise where candidates are evaluated on their group interaction skills and problem solving capabilities. The whole group involved in the group exercise may receive an offer, should the exercise go well.
Some candidates engage in a role play interview where they engage in a series of written and video client interactions. The candidate is then asked to make recommendations. Finally, management consulting candidates then go through a feedback interview that includes helpful back and forth dialogue about prior interviews and other important matters.

Top Management Consulting Firm 

Is Your Consulting Firm Your ISO Business Partner?

ISO Makes a Strong Business Case
Whether you manufacture a product or are in the service sector - a private organization or a government agency - ISO is a fundamental business model. It is the foundation from which to build an enterprise. It focuses attention on organizational processes, your customers (internal and external), competency-based training, and continual improvement. That translates to improved business results.
ISO-based standards rely on eight quality management principles that can be used to lead and improve any organization. A pragmatic approach, however, is essential. It should ensure needed checks and balances, and a framework for operating efficiently and effectively. When your ISO initiative is integrated into your strategic business plan, it links strategy to execution. Attention is focused on doing the right job - right the first time.
ISO Benefits Abound
ISO helps an organization see itself from the customer's perspective. And it makes a strong business case. It provides the framework for discipline and a formal, strategic approach to continual improvement. "So what," you say. Consider this. Surveys have conclusively proven that organizations that adopt a formal and strategic approach to quality management:
  • Outperform their industry sectors in profitability
  • Outperform their industry sectors in shareholder value
  • Enjoy higher levels of customer satisfaction & loyalty
  • Experience reduced operating costs
  • Enjoy lower rates of staff turnover
A recent five-year study conducted by UCLA, University of Maryland and Universidad Carlos III in Madrid concluded: US publicly held companies, traded on the NYSE that received ISO 9000 registration, show significant improvement in financial performance, compared to those companies that have not pursued the Standard. Not only did the ISO registered firms improve their performance, but the Study further concluded that the firms which failed to seek registration experienced substantial deterioration in return on assets, productivity and sales. Registered companies avoided such declines.
This presents an interesting paradox. There are typically three primary drivers for ISO 9000 registration. The first is customer and regulatory demand (about 45% of survey respondents). The second is the resultant quality benefit (about 30% of survey respondents). And the last significant driver is securing a competitive advantage - increased sales and market share (about 15%). Other categories account for the difference. Draw your own conclusions.
Marketing Overview
Although you may have embarked upon an ISO initiative because of external pressure, or simply to improve quality, leverage the certificate to improve business results. Since the "competitive advantage" driver is a distant third behind "quality benefits," any organization that earns this registration should market it aggressively to accelerate growth of sales.
The key is to gain market visibility. Broadcast it to the world and they will come. The more clients and prospects who are aware of your achievement, and what it conveys in terms of product or service quality, the better your odds of capturing new business. And by its very nature, ISO registration is like the "Good Housekeeping Seal," but better, since it is recognized around the world.
Respect ISO Guidelines
Be careful to follow ISO guidelines for promoting your registration. The ISO logo itself cannot be directly used in marketing promotions. Ask your Registrar if they have a logo you can use, or create one yourself. Be sure it includes the full ISO designation, such as "ISO 9001:2000 Certified." And remember, only your quality management system (QMS) or environmental management system (EMS) is certified, not your entire organization - or your products/services.
Marketing Activities to Promote your Registration
Here are some proven ways you can get marketing mileage from your ISO registration:
  • Display your ISO certificate in your lobby. Also, hang a banner inside your building, or fly an ISO flag. Your Registrar can also provide you with multiple copies of the certificate.
  • Promote your ISO registration in all communications, such as email signature blocks and stationery. And let your customers and prospects know of your ISO registration via direct mail or email campaigns.
  • Modify your organization's logo to include reference to your ISO registration, and create a graphic promoting your ISO QMS or EMS registration.
  • Write a press release about achieving your ISO registration. Send this to local and industry publications. Distribute it online, too, for maximum visibility, and don't forget to include a link back to your Website.
  • Publish an article about how ISO registration is expected to benefit your organization, and your concerted effort to gain customer loyalty. Later, prepare a case study about how ISO registration has benefited your organization or helped you grow your customer base.
  • Promote your ISO registration in newsletters and on your Website. Likewise, promote your ISO registration in print, or online pay-per-click advertising. Make sure your marketing collateral materials contain the proper ISO designation.
  • Use banners to promote your ISO registration at tradeshows, and include your ISO graphic in handouts.
  • Train your sales people about how to leverage ISO registration to win more business in competitive situations.
If you think about it, you can probably identify other opportunities to let your marketplace know that your organization takes quality and/or the environment seriously. Also, clarify how this translates to direct benefits for those choosing to do business with you.
Marketing Assistance is Available
A few customer-centric ISO Registrars now offer marketing assistance and guidelines to help customers promote their registration. Some management consulting companies take marketing assistance even further. Change Management Consulting (CMC), for example, develops a free press release for each customer who earns ISO registration. Strategy sessions, to leverage the ISO certificate, are always part of the ISO implementation process. Additionally, CMC offers exclusive access to discounted marketing services through an affiliate company.
Be Proactive
One thing is clear - you must be proactive in promoting your ISO registration. Unless you develop and implement a marketing plan, your organization will not gain the full advantage of this strategic initiative. So, incorporate ISO registration into your brand identity and broadcast it to the world. Make ISO part of your organizational culture.
Once you begin to promote your ISO registration to the marketplace, you will be surprised how quickly the word spreads. Organizations just feel more comfortable working with a company whose QMS or EMS meets rigorous ISO standards. And satisfied customers give the best referrals. In short, ISO registration gives you a unique value proposition.
Choose a management consulting firm that not only has practical implementation experience, but also, an established firm that has a proven track record in helping organizations leverage their certificates. The hand that guides must be steady and sure. Change Management Consulting has helped hundreds of organizations accelerate short and long-term growth of sales, and build a sustainable competitive advantage. That's the CMC difference.
The good news is that leveraging your ISO registration for competitive differentiation doesn't cost a lot of money. All it takes is your imagination and staying within ISO guidelines. With the right consulting partner, and a little creative work, your organization can enjoy improved earnings, enhanced customer loyalty, and a sustainable competitive advantage.
Stanley Cherkasky is the Managing Partner of Change Management Consulting, Inc. (CMC). Founder of the firm, Stan is the principal architect of the Performance Improvement Breakthrough methodology, and the Six Sigma Lean Advantage - innovative and proven strategies that accelerate ROI and net income improvement, build customer loyalty, and create world-class recognition.
Stan has more than three decades of business and consulting experience, in both the private and public sectors, in the United States and abroad. Stan specializes in building high-performance teams, and working closely with senior leaders to achieve breakthrough financial, organizational, and operating improvement. He has been quoted in many business publications, including Fortune, Business Week and the Wall Street Journal.

Leading Management Consulting Firm 

Resolving Shareholder Disputes in Canada

The legal matters discussed here are based on the Ontario Business Corporations Act and court decisions decided in Ontario and under similar legislation across Canada. Most businesses are incorporated because of the benefits of limiting liability and potential tax savings. Most businesses have more than one owner or shareholder. The relationship among the shareholders can spawn considerable disagreement. In a surprisingly large number of cases, the disputes among shareholders can lead to angry and complicated litigation with uncertain outcomes. In this article, we discuss the legal issues which arise among shareholders of private corporations, typically with fewer than 10 shareholders.
A business corporation exists because one or more people have decided to set it up. There are hardly any impediments to incorporating a new corporation under Canadian law. In most Canadian provinces, any person over 18 years of age who is of sound mind and not bankrupt, may incorporate a company simply by signing articles of incorporation and presenting them to the appropriate government ministry for stamping and registration. A corporation has a legal personality independent of its owners and managers. A corporation can carry on business; file tax returns; borrow or lend money; and can sue and be sued. Shareholder disputes revolve around how the owners and managers of corporations deal among themselves.
Who runs a corporation?
The people who have authority to make decisions for a business corporation fall into three categories:
1. Officers: The President and the Secretary are the only officers who must be appointed but most corporations also have a Vice-President and a Treasurer. Other titles, such as CEO, COO and CFO are descriptive but are not required by law. The officers manage the day-to-day business of the corporation. The officers usually delegate some of their authority to other employees. The officers report to the Board of Directors. In a private business corporation, the officers, directors and shareholders overlap or may even be the same people.
2. Directors: The legal management of a business corporation is in the hands of the directors. The number of directors is designated by the Articles of Incorporation and can range from one to any number agreed to by the shareholders. The directors pass resolutions concerning legal and business matters affecting the corporation. Directors' resolutions are passed by majority vote but some resolutions, such as a decision to sell the entire business require a larger majority such as 75% or even unanimity. Each director has one vote. Typical resolutions include (1) banking and borrowing; (2) hiring of accountants or auditors and legal counsel; (3) approval of the actions taken by officers; (4) approval of financial statements; and (5) acquisition of a new business or senior employee. The types of resolutions are determined by the circumstances of the corporation.
At every meeting of the directors, there must be a quorum. A quorum is the minimum number of directors required in person or by proxy to constitute a valid meeting. This is determined by agreement between the shareholders of the corporation and is set out in the corporation's by-laws. If no quorum exists, business conducted at the meeting is not valid. The method of giving notice of a directors' meeting is also important. If the directors are all in agreement and the business of the meeting is routine, a meeting may not be necessary. All of the business can be done by each of the directors signing resolutions prepared by the corporation's lawyer.
If there are contentious issues, written notice of the directors' meeting has to be sent, usually 10 days in advance, by the method prescribed by the by-laws of the corporation. The notice of the meeting has to give each director enough information and documents about each topic to be discussed so that he or she can make an informed decision about it. The resolutions of the directors have to be approved or ratified by the shareholders of the corporation. Directors are not required to attend a meeting but if a director's failure to attend prevents the meeting from proceeding due the lack of a quorum, the corporation's business may be hampered and the Court may order that a meeting be held without a quorum.
3. Shareholders: The owners or shareholders are the final decision-makers about issues affecting the business of the corporation. Resolutions of the directors have to be approved by the shareholders. As with directors' meetings, a quorum is required for a valid shareholders' meeting and notice must be given in writing with enough information and documents about each issue to enable the shareholders to make an informed decision. Unlike directors, who have one vote each, shareholders have one vote for each voting share of the corporation he or she holds. (Some of the shares may be owned by another corporation but the concept is the same).
The ownership of the corporation will be determined by the business partners. Sometimes, the ownership is driven by the amount of money a shareholder invests. In other cases, some shareholders provide special expertise or attract business, while others provide financing, and these elements may warrant an ownership share of the corporation. Some corporations reward a loyal employee with a minority shareholding. Some corporations have silent shareholders, who are not active in the daily business but own part of the corporation and therefore have a vote at shareholders' meetings.
Shareholders are entitled to receive the financial statements of the corporation and to examine the books and records at the corporation's head office. If there are more than five shareholders, the corporation's financial statements have to be audited unless the shareholders vote to waive an audit.
The most important aspect of share ownership is "control". A shareholder or group who owns the majority (more than 50%) of the voting shares will be in position to control the activities of the corporation subject to certain restrictions agreed among all the shareholders or imposed by law. Some shareholder decisions, such as the sale of the entire business of the corporation require a higher majority or even unanimity.
Minority shareholders have to live with the fact that the majority shareholders have a right to run the corporation even if the minority disagrees. However, the majority must comply with the terms of a unanimous shareholders agreement, if one exists, and treat the minority shareholders fairly. The majority shareholders are not permitted to "oppress" the minority shareholders.
Rights of Shareholders
Shareholders have three basic rights: 1) The right to vote at valid shareholders' meeting after receiving proper notice and documents; 2) The right to attend a meeting of shareholders; and 3) the right to accurate and complete information about the affairs of the corporation, including the articles of incorporation and any amendments, the directors' register, the by-laws, minutes of directors and shareholders' meetings and the financial statements, whether audited or not. When these rights are not respected, a shareholder may have a right to sue the shareholders who failed to respect the rights of the minority.
Unanimous Shareholders Agreement
Even though it is not required by law, many shareholders make a unanimous shareholders agreement which sets out the ground rules for the operation of the corporation. Shareholder agreements can cover a wide variety of topics including but not limited to:
1) the management positions and responsibilities of the shareholders;
2) the method for valuing the shares of the corporation;
3) the method for adding or removing shareholders for misconduct, death or inability to function in the management of the business;
4) the mechanism for valuation and sale of the whole business of the corporation;
5) the method for determining management salaries, bonuses and dividends;
6) non-competition and non-solicitation clauses to prevent a departing shareholder from taking a key part of the corporation's business and thereby damaging the corporation and its remaining shareholders;
7) a buy-sell provision, sometimes called a "shotgun" clause, which permits a shareholder to offer to buy the shares of the other shareholders subject to the right of these other shareholders to the offering shares at the same price;
8) succession arrangements to spouses or the next generation upon death or disability of a shareholder;
9) life insurance on key management employees and shareholders;
10) the special majority or unanimity required for certain types of corporate decisions such as the sale of the whole enterprise of the corporation or commencing a new enterprise; and
11) dispute resolution including arbitration and choice of law provisions.
Shareholder Disputes and Arbitration
The dispute resolution clause of a unanimous shareholders agreement usually provides that all disputes among the shareholders are to be resolved by arbitration and not by the courts. It typically states where the arbitration will be held. If all the parties are in Ontario, Ontario law will apply. If some parties are located elsewhere, the arbitration clause may specify which law, i.e., of which province or country, is applicable. There may also be reference to the procedural rules and the method for selecting the arbitrators.
Courts in Ontario give a very high degree of respect to a dispute resolution clause which requires all disputes to be resolved by arbitration. However, not all disputes involving the rights of minority shareholders are referred to arbitration even when there is a mandatory arbitration clause. Where there is a claim for "oppression" under the Business Corporations Act, a minority shareholder may be permitted by the Court to continue his or her lawsuit even though the unanimous shareholders agreement contains a mandatory arbitration clause.
Oppression Remedy
Under the Ontario Business Corporations Act, a minority shareholder is entitled to "relief from oppression" when his or her reasonable legitimate expectations from the majority shareholders have not been met. Legitimate expectations are found by looking at the articles of incorporation, the by-laws, the resolutions of the directors and the shareholders and the unanimous shareholders agreement, including any amendments of it and by general commercial and business practices.
For example, if the shareholders were accustomed to receiving an annual dividend but the dividend is not distributed fairly or not at all without reasonable justification, a court might find this change oppressive. If majority shareholders conceal information about the business from the minority shareholders by excluding the minority shareholder from decision-making or falsifying documents, that is also oppressive to the minority.
Another example of oppression might occur if the majority shareholders act in a way which violates the terms of the unanimous shareholders agreement. In some corporations, the removal of a minority shareholder from his or her position in the management of the corporation could be an act of oppression by the majority. Each of these examples has its roots in unfair behaviour by the majority which runs contrary to the reasonable expectations of the minority shareholder as a shareholder, employee or creditor of the corporation. Typically, there is more than just a single incident. The majority shareholders are usually looking to remove the minority shareholder from the business or take financial advantage of the minority.
While the aggrieved shareholder usually holds only a minority of the shares, the remedies discussed in this article are available to any shareholder who can show that he or she has been oppressed by another shareholder.
What can the Court do if it finds that a shareholder has been oppressed?
The oppression remedy is a powerful remedy for a minority shareholder to obtain redress for unfair conduct by the majority. If a judge finds the conduct of the majority shareholder to be oppressive, an order can be made to rectify the oppression in the most efficient way. This can be done by 1) the payment of money, 2) by directing the majority to buy the aggrieved shareholder's shares for a reasonable price (as determined by professional valuation), 3) by reinstating the aggrieved shareholder to his or her former position in the business, or 4) by holding an auction at which all of the shareholders have the right to purchase shares of the corporation. A judge also has the power to cancel the exercise of a "shotgun" buy-sell if the court finds that it has not been exercised fairly. The appropriate remedy will depend on the circumstances of the corporation.
A Court's decision to remedy oppression is intended to compensate the minority shareholder not to punish the majority. However, if the Court finds that the majority shareholder has acted fraudulently or has breached his fiduciary duty to the minority shareholders, punitive and other damages can also be awarded. When a court finds oppression, the share value attributed to the minority shareholder is not subject to a minority discount as it might be if the minority shares were sold in a commercial transaction.
Breaches of fiduciary duty can include the failure of the majority shareholder to provide full, fair and frank disclosure of all matters affecting the corporation's business. If one or more shareholders has removed assets, income or business of the corporation or is competing with the corporation, that may also be a breach of fiduciary duty in addition to oppression.
What other remedies are available?
The Court also has the power to order that a directors' or shareholders' meeting take place for the purpose of conducting specific business affecting the corporation. The Court can also authorize the commencement of a derivative action. This is a lawsuit by the corporation against a "rogue" shareholder. For example, if the majority shareholder has improperly taken some of the assets out of the corporation or has spent the corporation's money without authority, the corporation will have to sue the rogue. Of course, the rogue shareholder will not authorize a lawsuit against himself. In such a case, the court can authorize another shareholder to start and manage a lawsuit in the corporation's name against the rogue shareholder.
The Court also has the power to order an investigation of the financial affairs of the corporation by a court-appointed auditor. In the most extreme cases, the Court can direct that the corporation be wound up on the basis that it is "just and equitable" to do so. A "just and equitable winding-up" means that the court directs that the business be sold, perhaps to one or more shareholders and that the assets of the corporation, net of any liabilities, be divided among the shareholders. Special circumstances must exist for this remedy to be considered by the court, including a deadlock among shareholders, which are paralyzing the corporation.
What happens in shareholder litigation?
These litigation procedures described above require detailed evidence and strategic considerations by an experienced shareholders' dispute lawyer. Apart from the evidence of the minority shareholder, the value of the business has to be determined. This process is always more complicated than it appears to a lay person. The valuation of a business is a specialized skill provided by a chartered business valuator, a chartered accountant with valuation training. Before valuing the shares, the valuator may have to assess whether the majority shareholders have removed some money or assets from the corporation unfairly, whether by fraud or by misuse of the funds for an unauthorized purpose.
There are also income tax considerations. The value of shares is affected how shares are sold. If the corporation redeems the shares for cancellation, the shareholder will receive a taxable dividend. If the shares are purchased by another shareholder, the selling shareholder may be able to claim an exemption from capital gains taxes. There are also other tax issues. Advice from a tax accountant or lawyer is required to identify the most efficient way to dispose of the shares. This creates further disagreement because a tax arrangement beneficial to the seller will be less favorable to the buyer.
These remedies take some time to implement. The trial of a shareholders' dispute lawsuit will not take place for many months or even years after it is commenced. Therefore, the court also has the power to grant interlocutory or temporary relief to ensure that the interests of the minority shareholders are preserved until the trial or hearing. The Court's objective is to preserve the current situation without pre-judging the case.
Shareholder litigation is often characterized by hard feelings among the disputing shareholders. These are people who were in business together and their relationship has soured. It is much a like a divorce. Each side proceeds to gather its evidence which supports or denies the existence of oppression and other offensive conduct. Valuation of the shares may also be complicated by lack of proper disclosure and accounting issues. We have seen cases where the majority shareholders "stonewall" by refusing to provide proper information. This makes the litigation more time-consuming.
Amid the hard feelings and expense involved in these kinds of cases, lawyers in this field keep their eye on opportunities to make a settlement. While many shareholder dispute cases go to trial, the great majority of them settle before the trial through direct negotiations or mediation. Settlements are driven by the uncertainty of the outcome and the effort of all parties to limit legal and accounting expenses.
A settlement may also be more efficient for income tax purposes than a court judgment. Uncertainty relates not only to whether the Court will find the majority shareholders' conduct oppressive but also the disagreement between the valuation experts for each side. Valuation of shares is as much art as it is accounting and valuators may disagree radically on how much the corporation's shares are worth.
What should I do if I think the majority shareholder is oppressing me?
The first step to take is to fully document all events as promptly as possible after they occur. Make notes and send emails but care must be taken not to make statements which could adversely affect a minority shareholder's position. Timing is important for notices of meetings and buy-sell notices. Delay in obtaining legal and financial advice could have a very significant impact on the eventual result. If you get written notice of shareholders or directors meeting without details of the matters to be discussed, you may not be able to complain about an adverse vote if you fail to complain about it in advance and just attend and vote.
If events are happening in the business which are being concealed from a minority shareholder or if financial information is being hidden, prompt action is necessary. First, you must ensure that no damage is done to the business. Second, if you delay in taking legal steps or in having your lawyer write a letter to the majority shareholders to complain of the offensive action, you may be taken to have approved of the improper acts of the majority shareholders. The best advice is to get legal advice as soon as possible.

Part time CFO services UAE 

4 Reasons Why a Small Business Needs the Services of Management Consultants

Many small business owners are skilled multitaskers. They are so engaged in doing everything by themselves that they don't see the need to bring in management consultants.
Small business owners may be missing out on a lot of benefits of having a management consultant at their disposal. Here are the four top reasons to hire a business management consulting firm.
1) Access to the right expertise at the right time
Although you may be skilled enough to deal with the operational problems of your business, sometimes having an expert's guidance can really ease your stress levels. Rather than tackle the operational issues alone, you can rely on handling strategic problems with support. Focusing on the daily tasks of running your business can get in the way of improving your business and growing your client base.
A management consultant acts as your management support team. Your internal managers tend to look at their business challenges subjectively. Having a third-party consulting firm brings a fresh perceptive and objectivity to your business challenges. You can expect an objective view of your business needs and key areas of immediate focus while eliminating many of the distractions. Many business owners benefit from the assistance of consultants to help to create solutions to strategic issues. Outside consultants can often be more cost effective than using your internal staff.
2) Support existing teams through growth
When planning, a question that business owners and managers should ask themselves is, "Do I have the necessary resources and capacity readily available to manage business growth? Could I deliver at that moment?" If you lack the proper systems to deliver your services to accommodate new business, then you risk the opportunity upsetting new customers and worse, you may even ruin your reputation by disappointing existing customers.
Hiring new internal staff for strategic initiatives may not be optimal. The cost associated with onboarding, training and managing full time employees can be extensive. This is why companies hire business consulting teams to navigate the increased workloads to support your needs during the volatility of supply and demand. The decision to integrate management consultants as a part of your team may be the best decision you can make to successfully manage business growth.
3) Save money and time
A small business consultant can help you develop relevant strategies for improving efficiency and controlling cost. Management consultants can help you find ways to reduce expenses, explore new technologies and find vendors that can best match your business needs. When your business is on a fast track to growth, the need for a business consultant is often undeniable. Consultants empower businesses to capture new opportunities for business growth and improvement. Your time is best spent managing your business not conducting research.
4) Learn strategies for business growth
You want your company to succeed in the long term. Can you see the clear path to growth? With management consultants, your business will be equipped with data driven strategies for growth. With the use of business analytics and insights, you will be empowered knowing that you are on the right path to a prosperous future.

Management Consulting Firm 

The Benefits of Using a Management Consulting Service

Some employees, managers, and business owners have a bad vision of what management consulting professionals do. What they see is someone who is supposed to be an expert come in and try and tell them how to do their job better. There is generally a fee that goes along with hiring a trained consultant as well, and people think that money could be more beneficial spent in other areas.
However, there are positive factors surrounding management consulting as well. These educated people can make recommendations that will benefit a business overall. It may be difficult to see how the small differences can be helpful in day-to-day operations, but after ideas have been implemented for some time, the changes can make a transformation.
It is not uncommon for companies to face times when layoffs, salary and benefit changes, and other operational differences are necessary. Many times, the leaders of the company do not want to be the ones that have to deliver the bad news to their dedicated team of employees. Experienced management consulting agents are often brought on to come in and share the details of the changes.
By having a management consultant come in and break the shifts in the business to the staff, the anger, resentment, or sadness that goes along with the changes can be shifted to a someone other than the boss. This makes it more likely that the employees will still continue to do the job that they have been doing with the feeling that their leaders have let them down.
Management consulting professionals have dealt with a wide array of problems and issues for plenty of different businesses. By having experience in these areas, it is likely that they have seen the situation that your company is facing. They can give you better ideas and suggestions on what the best course of action is based on what they have seen work in the past.
As a smaller business, chances are you do not have access to all the resources that the large consulting firms do. By bringing on an expert, you are also going to have all of their available resources come with them. You will benefit from things like specialized data analysis, primary market research, and financial industry benchmarks that you may not otherwise have knowledge of.
After being on the inside of your company for so long, it can be common to get sucked into a mundane routine. You are going to keep trying the things that you know, even if they do not necessarily work the right way anymore. By having a management consulting expert working for you, your business will have the fresh perspective that it may be needing to get back on track.
Daily schedules completed by both staff and supervisors make it harder to take part in the critical thinking that goes along with analysis, improvements, and the measurement of the way the company is operating overall. Management consultants are trained to look for these factors specifically to help and find what may be causing any current issues.
Finally, management consultants are authorities in their field. When you hire one of these specialists to come in and assist you, not only can they help in improving your business, they can also assist in training. You and your team will be able to ask questions and get knowledge in the most up-to-date technologies in whatever area of business you work in.
There is a fee that goes along with hiring a management consultant, however, with all the benefits that go along with communicating with these specialists, your company is likely to make more money as a result.

Selecting Appropriate Business Structure Is Important To Incorporate a Company in Singapore

They say, it is easy to incorporate a business in Singapore. However, 'they' fail to tell you the complexities and twists involved in setting up a business a Singapore. To incorporate a company in Singapore, the first hurdle you will come across is selecting an appropriate business structure. To a great extent, outsourcing the process of Singapore company registration to an external firm is the widely accepted option. However, it becomes necessary to understand the different business structures in Singapore before you employ any firm offering Singapore company registration services.
The Various Business Structures to Incorporate a Business in Singapore
Usually, foreigners do not require any type of government approval to set-up a new business in Singapore. Singapore allows about 100% foreign ownership, which makes it the best and preferred location for foreign entrepreneurs, to do business.
For incorporating a bank or a financial institution, getting an approval from the Monetary Authority of Singapore is a must. Let us check out the different options for business structures entrepreneurs have, for incorporating a company in Singapore.
  • Representative Office: A foreign company willing to have its presence in Singapore, but does not intend to carry out any business activities herein, should incorporate their company as a representative office. Singapore corporate environment considers a representative office as an administrative arrangement, primarily, designed for the non-commercial activities. Therefore, a registered office will not have any kind of separate legal status from its parent company. Please note, Singapore does not allow a registered office to perform any business activities with the motive of generating revenue and earning profits.

  • Branch: Foreign companies not interested to incorporate a separate company in Singapore with a different name, should prefer to incorporate a branch office. After incorporating a branch office, it is possible to carry out business activities under the name of or under the corporate brand of the foreign corporation. A branch office incorporated in Singapore is legally considered as an extension of its parent company. Please note, in no way, a branch office will be considered as a subsidiary company owned by a foreign parent company. The Singapore Companies Act does not prescribe any special or separate Memorandum of Article of Association (MAA) for the branch offices. A branch office is free to run its shareholder structure and business activities as directed by the original MAA of the foreign company.

  • Subsidiary: A private limited company having foreign company as its major shareholder should incorporate its business as a subsidiary company. A subsidiary company is a resident company of Singapore and is regulated by Singapore laws. A subsidiary company has a legal status in Singapore, therefore, is treated as a different company from its foreign counterpart. In this option, the liability of the foreign company is limited to the share capital it has invested. Besides, the foreign company is terminated from the obligations of debts and liabilities of the subsidiary company. Please note, more often a subsidiary company is registered as a limited liability company in Singapore.

  • Incorporated Companies: Singapore offers two major options for incorporated companies; Private limited companies and Public companies. A Private limited company is allowed to have as many as fifty shareholders and also bears restrictions on share transfer. On the contrary, a public limited company does not have such a restriction and can have as many shareholders as they want. In addition, the public limited company is allowed to raise capital by offering shares and debentures to the public. Incorporated companies can be registered with a minimal capital of S$1 proceeded by at least one shareholder, one director, as well as one company secretary. It is all right if the chosen shareholder is either an individual or a corporation. Either of the shareholders is not required to be a permanent Singapore resident. Please note, the liability of shareholders is limited to the amount, if any, unpaid on the shares is issued to them. Apart from that, S$1 is the fixed par value of shares for each share and no-par-value and bearer shares are not permitted.

  • Limited Liability Partnership: When two or more partners want to incorporate a company in Singapore, then registering a business as a Limited Liability Partnership (LLP) company is the best option. Under this partnership entity, ACRA identifies both partners as different personalities who can sue or be sued. Additionally, both the partners are allowed to own property in their individual names. In an LLP company, partners are offered an option to function either independently or as a combined entity. Please note, although the minimum number of partners required to form an LLP is two, there are no limitations on the number of partners an LLP can have.

  • Limited Partnership: Limited Partnership seems to be a flexible business structure for entrepreneurs not interested to take any kind of responsibility for business management functions. Such entrepreneurs usually hand over their management of company to an entirely different entity. The chosen entity can be either an individual or a corporation, enjoying unlimited liability. There are more than one, general and more than one, limited partners, in a Limited Partnership company. Please note, if general partners choose to participate in the business function they become liable, and their personal assets are pledged. On the contrary, limited partners are liable only for the amount they have contributed.

  • Sole Proprietorship: Sole proprietorship is the simplest and easiest business structure to incorporate a company in Singapore. Foreign and local entrepreneurs widely prefer sole proprietorship as their chosen business structure. More often, investors with less capital and big dreams and investors interested to incorporate small businesses register their company as a sole proprietorship firm. The statutory requirements state that, the sole proprietorship companies will have to register all their profiteering activities carried on the daily basis. Please note, sole proprietorship is not considered as a separate legal entity. The owner and his business both are considered as one and the same. The entrepreneur or the owner is held accountable for all the debts or liabilities incurred during the course of business.
Deciding on the right business structure to incorporation of company in Singapore is a tough task. Incorporating a company under the precise business structure is very much necessary when you are intending to do business in Singapore. It is highly recommended that you seek professional help for registering a business in Singapore. The incorporation experts in Singapore will help you understand each business structure, along with its obligations and implications in future. Remember the rules pertaining to liabilities and responsibilities are very strict in Singapore. Only incorporation professionals will be able to guide you in the best possible way. They will assist you in incorporating your dream business without much risk.

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