A Consultant’s Comeuppance

A Consultant’s Comeuppance

Summary

Cookie Consulting LTD., founded in 2010, supports in-depth consultations on the healthy operation and development of more than 500 customer members based on strong relationships. We offer long-term solutions for your sustained growth beyond simply analyzing the cause of the problem and providing consulting. This is why more than 300 of our customers have been with us for more than six years. Sharngwuck Yi, Mohammadreza Yavari, Nikhilreddy Palla, and Priyanka Vashisht are the experts in our company who make important decisions.

The purpose of this proposal is to help Flynn Fuller Consulting to analyze the current issues with Globank and suggest alternatives for a long-term relationship with Globank. In addition, alternatives to sustainable development will be presented. This proposal will enable Flynn Fuller Consulting to more clearly position in consulting with Globank and will ensure that Globank, which has replaced the new CEO, becomes a long-term loyal customer again.

Flynn Fuller’s needs and suggestion for a longer positive partnership between Globank is the main goal of this proposal.

Introduction

Flynn Fuller Consulting and Globank, which is one of the biggest clients of Flynn Fuller Consulting, have had a strong relationship. The new CEO of Globank questioned the effectiveness of the consulting provided by Flynn Fuller. The breakdown relationship with Globank of Flynn Fuller is expected to have a big impact on Flynn Fuller’s revenue. Flynn Fuller has to persuade Globank to receive ongoing consulting for a developing future. Flynn Fuller tries to develop an appropriate strategy for Globank’s sustainable future, but they could not get a proper answer with the challenge. The proposal will suggest an optimized recommendation for the strategy by presenting the situation, defining problems, setting purpose, approach, methodology, and alternatives.

Present Situation

Long-time friends, Jeff and Bill are CEOs of Flynn Fuller Consulting and Globank. In that relationship, Globank has been consulting with Flynn Fuller for a long time. Recently, however, Globank replaced the new CEO. The new CEO, Maloney questioned the fruits and costs of Flynn Fuller’s consultants in terms of cost-cutting. Maloney asked a presentation on why Flynn Fuller should continue the consultation with Globank. Flynn Fuller’s managers had a serious idea meeting for this presentation but couldn’t find a proper answer.

Problem Definition

There are 3 main issues with Flynn Fuller and Globank.

• Recession of the Consulting Industry As shown in Buday, Unstable and uncontrollable external factors and economic instability have led financial companies to reduce their job by 20% (Buday, 2003). It seems to have a direct impact on Flynn Fuller.
• Maloney’s Skepticism to Consultants After Maloney has taken the CEO newly, He checked Globank’s financial situation. He also found that he was spending $ 100,000 on consulting a year. Without knowing the specific ROI of consulting, Maloney realized that it was unnecessary for consulting (Buday, 2003).
• Non-Proper Strategic Suggestions for Globank Flynn Fuller held an idea meeting to set up a presentation for Globank but failed to draw clear conclusions. It does not prepare the direction of the presentation for the purpose of sustainable development.
• Financial issues:

Banking practice declined by 20%.

Financial analysis: There is no weekly financial analysis, if this trend goes unchecked it will make unbearable issues so that it will make huge losses in the long run. Jeff described that they received from the CFO in order to reduce their cost urgently which means that there is no audit during the process.

Human Resources issues:

• Employee relationship at stake:
• Communication: The lack of proper communication, the probability of misconception as well as unintentional human errors may experience a drastic increase. As mentioned in the case there are some misconceptions among Flynn Fuller and GloBank. For example, Jeff experienced misgivings about the GloBank new CEO. These types of misconceptions can have adverse effects on either clients or the company reputation which mainly affects losing share market to the competitors.

Purpose

This proposal will suggest a persuasive presentation by Flynn Fuller to GloBank. It could ensure that Flynn Fuller and Globank will maintain a sustainable business relationship if they select Flynn Fuller as their consulting company.

Approach

In this part, we will explain the approaching process of Flynn fuller on GloBank’s issues.

Finance:

Human Resources:

Methodology

Financial analysis: One system which can be very helpful is business dashboards. This system has the ability to show company daily, weekly, and monthly revenues and expenses. Moreover, based on the data which has been input it gives profit predictions in the long term.

Information technology: Implementing ERP in Globank, information shifts from portrait to landscape and inter-departmental, and sharing information flows within the organization will be much easier. ERP is an extensive information system at all levels of the organization that enhances the flow of information to the organization and coordinates all resources and activities within it (Monk & Wagner, 2013).

Level 2 Budgeting

Methodology

• Budgeting

Income 2019 2020

Service Rendered 70,000 45,000

Consulting 240,000 280,000

Gross profit 310,000 325,000

Expenses

Rent 7,300 8,100

Salaries (4 employees) 230,000 242,000

Water & Electricity 4,350 4,400

Property rates & Taxes 1,800 1,950

Insurance 7,150 7,200

Advertising Costs 2,000 3,000

Loss from lawsuit predictions 3,000 3,000

Net Income 54,400 55,350

Time Plan

Porter’s Five forces

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Main Findings:

• Strategy:
• Finance:
• Human Resources:
• Information Technology:

In order to have better communication with employees, advanced technology can be highly effective to know about the processes at the moment with no delay which can increase the company’s output as well as the client’s satisfaction. Through advanced technology different types of systems such as Email, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Electronic Point of Sale (EPOS) (Kubr,2012). All mentioned systems can give access to a countless amount of information which can be very helpful for the company to achieve its goals. As mentioned in the case there are some misconceptions among Flynn Fuller and GloBank. For example, Jeff experienced misgivings about the GloBank new CEO. ERP system can strengthen communication between Flynn Fuller and GloBank by increasing effective communication with clients which improves the effectiveness and efficiency. This system can penetrate in whole sections and functions of the organization which can be up to the minute the latest changes of organizations. Unless the information system of an organization is integrated, it will cost a lot of money. In fact, if two parts of the organization have separate information systems in order to share data, the responsibility of one department must transfer data from one system to another, which is a time-consuming process. In addition, it will greatly increase the likelihood of error in entering information.

• Operations:
• Marketing:

References (Please put reference list in Alphabet order)

Kubr, M. (2002). Management Consulting. A guide to the profession (Fourth edition). Geneva: International Labour Organization.

Monk, E. F., & Wagner, B. J. (2013). Concepts in enterprise resource planning. Mason, OH: Course Technology / Cengage learning.

Appendix