Difficult period is the golden age for consultants

While directors of many enterprises complain that in the difficult period, they have nothing to do, except attending workshops and going to parties, consultancy firms say they are “living well” with so many consultancy contracts.

Businessmen all say that it is now the golden age for consultants, because businesses, in the difficult time, have to re-program their production strategies, restructure their distribution networks and their workforce, as well as upgrade the corporate governance system. In order to do that, they need the advices from consultants.

Orders coming rapid fire

Director of IME Consultancy Firm, Do Hoa said that IME has been invited by a state owned general corporation to act as the adviser in the drawing up of a medium term business plan. Meanwhile, some other small and medium enterprises have asked him to help escape from the current difficulties and program long term business.

Hoa’s firm was established not a long time ago, but it has got many clients, both foreign and domestic enterprises, both private run and state owned enterprises.

Other consultancy firms have also said that they have so many orders that they have no free time.

Luong Van Ly from Viet Long Thang Law Consultancy Firm, said that unlike previously, Vietnamese companies now tend to seek the advices from law consultants.

An advertisement company has revealed that it is planning to hire a consultant from McKenzie for three days, for which it will have to pay 30,000 dollars, not including the fees for traveling and accommodation.

The three day working schedule of the consultant will be as follows: on the first day, the company would provide necessary information to the consultant. On the second day, the two sides will discuss on some issues, and on the third day, the consultant will present his suggested strategies for the company. Further works and information will be exchanged via email later.

Despite the high expenses, the representative of the company said, the company is still determined to invite the consultant in order to help restructure the company and reconsider the branding strategy. The company believes that the expenses are really “necessary investment deal”.

Not every foreign consultant is good

According to Hoa, it is very costly to hire foreign consultants, and enterprises may have to pay one million dollars for the consultancy services. Meanwhile, good strategies would make up 50 percent of the success of enterprises, while the other 50 percent would depend on the people who implement the strategies.

Hoa said that enterprises should well prepare for hiring foreign consultants. Besides, they should think carefully before using foreign consultancy services, because not every foreign consultant is good.

Consultancy firms have increased their presence at workshops and meetings among enterprises, trying to take root in every corner of the economic activities. They have been ready to provide solutions in different fields, including legal consulting, human resources, financial solutions, corporate governance management, or branding.

Experts say that Vietnamese consultants now still cannot meet the requirements of enterprises. The number of consultants, who have experiences from the years they worked at high positions at foreign economic groups, which have modern management models, remains modest. Meanwhile, the majority of consultants only have theoretical knowledge.

In many cases, businessmen invite consultants in order to get advices about how to access to problems in the most methodical way. However, how businessmen use the advices of consultants remains a question.-TBKTSG