Addressing the outcomes and alternatives of decision

This preview shows page 17 - 19 out of 26 pages.

Addressing the outcomes and alternatives of decision Influencing them with intelligent choice of words Supporting the ideas with evidence and fact Collaborating effectively with the management team members Improving leadership skills (Kubr, 2002). My strengths in the last project. My strength in LCBO project was having a good communication skill and a strong interrelationship with my clien t. The reason why I think that is my client accepted to give me all the required information I need and when I recommend my solution, they follow my suggestion. Moreover, we have informal meetings outside of the firm having a lot of fun during the project. There is no doubt that communication skill is a critical consulting skill, which can be developed through relevant classes and courses. I was lucky because of attending various MBA classes including consulting and leadership. Now, I am able to talk convincing and confidently . As an example, my client in LCBO had many interviews with consultants and chose me because my interrelation with him was friendly and strong, so, he gets interested in working with me. Financial skill
LCBO CONSULTING SELF-ASSESSMENT 18 Assessing financial situation of the firm and analyzing it in short-term and long-term period is under qualification criteria for a consultant. Consultant’s job is spending time to build relationship and trust with clients, and offer a financial plan (Kubr, 2002). My weaknesses in the LCBO project. My weakness in LCBO project was the insufficiency of financial skills. It is crucial for a consultant to know about financial management and accounting in order to provide a financial plan such as high return of investment, saving plans, budgeting, and return of capital. In the LCBO project , I did not manage to help my client with the financial decision regarding investments. Since LCBO is a Crown company, the provincial government decides how much money they can have and more importantly how much money they have to return to the government. This is a constraint for them and I did not acknowledge it. My insufficient knowledge in finance caused a failure in providing a financial plan for the firm. In the Crown companies, return of capital, dividends, and the time of return of investment are important issues that need to be address. The area needs to improve. A consultant is responsible to monitor financial changes in the business and suggest strategies and alternative solutions. This is exactly the area that I should improve as a consultant. I need to focus on their financial position to accomplish the financial goals. During my MBA program, financial management and accounting are the courses we must take. My financial understandings is improving as we are closing to the end of these courses. I am learning a lot from these courses and now I have that perspective to assess the current financial position of a business. However, I decided to take another course, called Investment, to enhance this skill even more than before.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture