GSB016 - Business Development: Managing Consulting Practice Report

This report provides a comprehensive overview of managing a consulting practice, focusing on business development strategies. It highlights the importance of identifying market gaps and supporting new businesses through various funding stages. The report details REL CONSULTANCY's mission to provide resources and infrastructure for commercial success, drawing inspiration from successful firms like IdeaLabs and Garage.Com. Key areas covered include business and operations consulting, compliance recourse, and temporary resource provision. The market niche targets startups and medium-sized businesses, acknowledging the competitive landscape and strategic challenges such as bargaining power, threats from new entrants, and substitutes. An environmental scan, including SWOT analysis, identifies strengths, weaknesses, opportunities, and threats, providing a strategic foundation for REL CONSULTANCY's growth and sustainability. The report also touches on funding sources, projected cash flow, monitoring and control mechanisms, and risk mitigation factors.

Managing Consulting Practice
MANAGING CONSULTING PRACTICE
Student’s Name
Course
Professor
Institution
City
Date

Managing Consulting Practice
MANAGEMENT SUMMARY
Research affirms recognition through technology industry and undertaking capital
organizations of the gaps in the course of bringing new business from startups through the
different stages of funding. There is rapid growth in medium size business, as well a boost
regarding commitment from medium-sized companies to integrate with industries to
contribute to creating the opportunity. The goal of the company is to furnish infrastructure to
establish the maximum probability for commercial prosperity.
There will be attempts by the company to advance models that are in line to those
which have been formed by firms specific firms like IdeaLabs, Vulcan Ventures Garage.Com
and CMGI, where vested interests, incubation, and expansion to complete marketability are
as a result of correlated effort among all the shareholders.
Resources are essential for superficial opportunities to be successful this includes;
incubation, financing, industry associated advisory support, etc. A network will, therefore, be
established to purport the business in various ways.
REL CONSULTANCY

Managing Consulting Practice
INDEX
Management Summary...........................................................................................2
Firm Overview….....…...........................................................................................4
Market Niche………. ............................................................................................5
Key To success.......................................................................................................10
Target & Goals.......................................................................................................10
Service Description................................................................................................12
Competitive Edge……….......................................................................................12
Information Technology ........................................................................................14
Underlying Service Assumptions ..........................................................................15
Implementation.......................................................................................................15
Funding Sources………………………………………….....................................15
Projected Cashflow................................................................................................16
Monitoring & Control............................................................................................19
Risk Mitigation Factors…………….....................................................................19

Managing Consulting Practice
REL CONSULTANCY
3.0 Firm Overview
REL CONSULTANCY began as a partnership which offers demand resourcing
activities that are essential to identify superficial openings, and abet client firms in the
process of actualizing their businesses.
Mission
Our objective is to establish resources and framework which are necessary in
identifying business startups, and then assist in advising individuals in the process of
implementation of the business.
Our Clients
Our corporate clients will include sole proprietors, partnerships, private companies,
products and firms that manage assets in their local market. Our client base will comprise of
managers, CIO, and COOs, with inadequate levels of experience in business and
responsibilities in budgetary. Our Operations will be based in this Key practice areas:
i) Business and operation consulting;
 Implement their business strategies to be in line with their products and functional
objectives.
 Actualize market and competitive strategies that will enable startups to maximize
revenue opportunities.
 To redesign business processes to maximize resources, i.e., workforce, machinery, and
ownership.
ii) Compliance recourse here we will help our clients to;
 Initiate compliance regulatory structure that will help in overseeing regulatory risks.

Managing Consulting Practice
 Solve issues related to governing requirements including redesigning policies and
procedures, surveillance improvements and recollections, and upgrading to customer due to
keenness and risk grouping practices.
 Prepare for a regulatory examination in advance with a rigorous assessment review.
iii) We will also provide temporary resources to our clients
 We will provide and put into action projects with domain specialists, project managers,
and business gurus.
 We will mitigates hot term operational resourcing issues with acting managers and
operations experts.
 Assist to scathing compliance project initiatives.
4.0 The Market Niche
The goal and strategic direction involved in this proposal are REL
CONSULTANCY’s acknowledgement in to the apprehension of what the consumers will
treasure highly about the business, and the ongoing openings and difficulties in providing
good quality services. The consulting business industries are quite integrated. The industry is
normally dominated by large multinational companies while those firms that are specialized
occupy their markets. Consulting agencies, just as Boston Consulting Group, McKinsey, have
dominated by providing the blue-chip firms in several industries with amenities. Practices in
consultation especially by major firms in accounting have established the worldwide presence
to be able to sell services that are packaged to different companies. Many individual
consultants in business and firms succeed in markets that players normally consider
unprofitable.
Companies that are beginning will be the target of our firm. REL CONSULTANCY
tends to shelve around activities of new enterprises within the local precinct. Additionally,

Managing Consulting Practice
affiliate marketing, new recommendations from among the faction, and online marketing
struggles will be done in training of new clienteles. Young ventures are alluring since
shareholders lack sufficient expertise necessary for launching new ideas. There is a
significant desire in the marketplace, and an appetite for, these kinds of start-up consulting
facilities. Corrival in the market Rialto offer various services that REL CONSULTANCY
has. These services include consolidation and directorate services. Information-based
consulting is drafted to expand the efficacy of client’s operations through proper budgeting,
enhancing customer support, the increased value of current lines of product, initiation of new
services and merchandise. Competitors, on the other hand, offer proficiency to evaluate,
implement, develop, manage and select information systems, applications and networks.
Consulting firms with which REL CONSULTANCY is challenging with
encompasses regional consulting firms, in addition to the consulting groups of the
international accounting firms like, Andersen Consulting, Deloitte & Touché LLP, Ernst &
Young LLP, KPMG LLP and PricewaterhouseCoopers LLP within its directorate and the IT
consulting services. REL CONSULTANCY competes with the marketer of information
system such as HBO & Company, Electronic Data Systems Corporation, Inc. Integrated
Systems Solution Corporation, CAP Gemini America, Inc., SAIC, Perot Systems Corporation
and Computer Sciences Corporation. In services related to the electronic-commerce, REL
CONSULTANCY rivals with the established contenders, as well as emerging, Internet
service and product based firms such as Razorfish, Scient, TriZetto and Viant.
The big Strategic Challenges
 Bargaining Power
Bargaining power is relatively low in the small businesses sector due to the
availability of many consultants in the current market which result to a surge in prices.

Managing Consulting Practice
 Threats to new entrants.
The Impediments to entrance feat as a deterrence to new rivals. They act as a
protective mechanism which impose an element to the new competitors, which the
incumbents do not have to bear. Incumbents have identification of the brand and customer
loyalties. This forces the competitors to spend heavily in order to overcome these fidelities.
Startups might bring in products which are different to the existing products in the market.
The benefits of the new products must be communicated to the target customers.
Governmental bodies can prohibit or limit entry for industries that have various
controls (for example, licensing requirements). Startups in industries with high regulation
find incumbents who have fine-tuned the business in accordance to regulations.
As a Startup we need to acknowledge the entry barriers for our market and business
for two reasons:
1. Startups might decide to get into business with higher barriers to the entry. This would be
of significant disadvantage to the start-up that is very difficult to overcome.
2. As a startup we need to understand that to become leaders in the market must learn how
to protect our place by assessment of entry to barriers.
 Threats of substitutes
Substitutes can make a profit by putting a ceiling on the prices through the returns of
the industry. As for the price-performance, it is an alternative that is offered by replacements
it becomes more attractive, and more difficult for those organizations to profit from it.
Identifying replacements includes looking for others services which do a similar task like for
the business service. The placing products of an industry and services against the alternates
may occur through collective business actions (for example, sustained advertising by business
participants).
Environmental Scan

Managing Consulting Practice
The process that of documenting and facts discovery and the trends are referred to as
environmental scan, this is likely to impact the businesses in the future operations. Its
findings are strategically purposed to familiarize planning partakers on the ground the
mission of the business is to be carried upon. The e-scan includes a detailed summary of
internal information, upon which the history of the business is stated, for instance, the
summary of the results it has received, current structure, which was served, and last but not
least the data related to the financial transactions.
This is characterized by the outline of the SWOT analysis, an analysis that attempts
to figure out the strengths, the weaknesses, the opportunities and the weaknesses of the
concern. Strengths are defined as the internal qualities and capabilities that are part and parcel
of the success of the business. Qualities of internal operation that need some improvement are
referred to as the Weakness. Opportunities relate to the external trends or activities which the
market may profit from, and associate with or take advantage of the opportunity to enhance
or grow its performance.
Threats refer to the external trends or activities that may threaten the existing as well
as the future success of the business. Together, they stand for a small percentage of the entire
environmental scan that is attached to the strategic plan in discussion.
Strengths
REL CONSULTANCY’s crucial strengths contain the validated ability of the
business to offer high quality, essential services that people with startup businesses need to
build an empire. Our Staff will be committed to ensuring that the services offered are of good
quality. The business meets every challenge that comes across its path through innovation.
REL CONSULTANCY has an outstanding reputation. The other service providers look up to
the concern as a leader in the field.
Weaknesses

Managing Consulting Practice
According to the belief of many, the significant development of REL
CONSULTANCY will lead to challenges such as the human resources, problems with the
supervision aspect, the lack of arrangement for the coordination existing among the
departments, the inconsistency of the administrative as well as the clerical support. Thus,
there exists a perceived requirement for enhanced practices of management, use of
technology, and improved use of additional capital (Campbell, Jardine. and McGlynn 2016).
Issues with the employee recruitment program will be experienced, inclusive of tracking,
training, coordinating between the potential employees and the available jobs. It also includes
the locating of the more job prospects.
Opportunities
The opportunities that are considered to be most important include: Increasing
awareness of our services to the acceptance by the society and opportunity for further
inclusion through the process of employment.
Implications:
A greater amount of inclusion increases the amount of awareness required to view
our clients as untapped resources. This may change the outlook businesses, career, and the
technical programs. This may lead to economic stability and independence for the clientele.
REL CONSULTANCY could organize an increase in the sales to the potential employers. It
may also be more responsive to clients who are interested in the activity. Expansive training
is needed for both the consumers and prospective employers as well as another community
resource, and the matter of transportation are important to be successful.
The increase in the visibility may lead to the greater amount of access to a greater
number of resources. The county possesses an array of resources inclusive of the potential
business ideas and plans all of which could be tapped in a better way.

Managing Consulting Practice
Implications:
REL CONSULTANCY could build a program to the startups through ongoing
supervision, screening and training. The program will also award medium-sized business for
their efforts to build a solid business.
New social and recreational activities. In this respect, there is a growing need for
recreational and social opportunities for small business owners to mingle and share ideas.
Implications
The increase in the activities that pertain to the society and recreation may demand
more patrons and therefore increase the community contact and the quality of their life. To be
successful at this point, REL CONSULTANCY will develop a more significant partnership
with the general community and the County Department of Parks and Recreation.
Threats
The threats that are considered to be the most important:
The dependence on our expertise and skills to attract new entrants into the market.
Implications:
REL CONSULTANCY needs to carry out an assessment on the actual request for the
services that it provides, a possible increment in the options of payment that are private. The
firm must also be prepared to discover other prospects for generation of returns.
The cost incurred in providing quality services and the staffing challenges. It is
difficult to sustain a proficient pool of potential employees, which includes staff, who can
relate in several dialects.
Implications:

Managing Consulting Practice
Although technology and increase in the efficiency might provide with assistance in
matters related to the situation of a high profitable income, mostly among the staff that deal
with the direct support, it leads to the increase in the costs of administration. In order to
respond, REL CONSULTANCY requires to expand its clientele base, empower employees
while increasing their prospect for development. It must promptly cultivate a structure of
payment for the various services that it offers.
5.0 Keys towards the success of REL CONSULTANCY include:
1. Individuals who possess a wide range of specialty areas which are complementary to one
another.
2. A high level of experience in the specialty areas.
3. A methodology that comprises of a team is to be adapted for the projects which need the
maximum amount of consulting.
4. The group of consultants might comprise of a number of professional contacts.
5.1 Major Targets & Goals of REL CONSULTANCY
The two-year long period of time that might be required for this strategic proposal
will be a time required for the assessment as well as deepening of the approaches of REL
CONSULTANCY to the work that it performs. Simultaneously, REL CONSULTANCY will
assume more of the role of a leader while working with a broader assortment of technological
resources. REL CONSULTANCY will pursue the strategic direction enlisted below by
considering it from a fresh outlook on the mission, the understanding of the jobs that it
performs well, and the concerned environment wherein the firm will operate.
1. REL CONSULTANCY will analyze and widen the direct supports and services of the
company that have been existing over time so as to ensure that the services or the supports

Managing Consulting Practice
are contemporary for efficiently working to creating a belief that we have the necessary
capacities to creating solutions to our clients on a particular challenge.
2. REL CONSULTANCY will further assess consumer to provide wisdom and good
judgment regarding needs and gaps that we have come up with that will increase our service
delivery as an old saying, “Good judgment emanates from experience, and experience comes
from bad judgment.”
3. REL CONSULTANCY will take a leadership role in providing better and reliable
communication skills to achieve the goals on areas on which they seek our expertise.
4. REL CONSULTANCY will explore the feasibility of expanding startups regarding
Information technology (IT), to help businesses become more efficient and achieve its goals
5. REL CONSULTANCY will emphasize building the discretionary financial resources for
the investment towards providing the quality services.
Goals
The enlisted goals for REL CONSULTANCY over the succeeding two years are the
responses of the business to the core issues that are identified within the environmental scan
which concluded as a part of the development and the strategic process of planning. The
goals bring a roadmap for the fulfilment of the strategic direction.
Service Delivery
Our clients know their wants but are concerned about the execution, but they lack the
resources and expertise to deal with the problem effectively and in short order and hence
REL CONSULTANCY will provide and encourage the clienteles to approach the ambiguity
by redefining the complex concerns such as the SIMPLE, BASIC CHOICES. We will
support our clients by studying the complex problems of business and turning them to the
manageable model of opportunities.