The world of business and consultancy are undergoing enormous change at an unprecedented rate. It is at such a time of upheaval that the values of a profession come under increasing pressure. But it is also a time when the values of a consultant (independence, objectivity and integrity) are never more important. This study emphasises and focuses on guidelines for smaller MCFs to obtain a competitive advantage in an ever changing environment. With large companies shedding jobs and outsourcing all but their core workforce, the consultancy industry moved into a new post industrial age in which the proportion of smaller knowledge base service companies or the so-called Management Consulting Firms (MCFs) is on the increase. The essence of management consulting firms is to render independent advice and assistance about management issues. This typically includes identifying and investigating problems and/or opportunities, recommending appropriate actions and helping to implement solutions. Change brings with it new problems, the solutions to which cannot be derived from past experience. Many changes occurring simultaneously and interacting with each other give rise to complexity. The essence of consultancy lies in the twin activities of helping client companies develop solutions to novel problems in resolving complex issues. Thus the greater the rate of change the greater the demand for consultancy services. The macro, market, micro environments segmentation in which MCFs operates, is of the most important driving forces that influence it existence. To anticipate the impact of these forces in advance could assist smaller MCFs to manage it to their own competitive advantage. The findings of the study serve as a source of reference that provide practical guidelines for a competitive strategy for smaller MCFs in an environment, best described as uncertain, complex and subject to continuous change. To conclude, these guidelines are formulated to practically implement a strategy to obtain a competitive advantage for smaller MCFs. / Prof. N. Lessing

by Lee Chi-Ho. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1997. / Includes bibliographical references (leaf 85). / ABSTRACT --- p.i / TABLE OF CONTENTS --- p.ii / "LIST OF FIGURES, TABLES & APPENDIX" --- p.vi / Chapter PART I --- INTRODUCTION / Chapter 1. --- INTRODUCTION / Chapter 1.1 --- COMPANY BACKGROUND --- p.1 / Chapter 1.2 --- PROJECT OBJECTIVES --- p.3 / Chapter 1.3 --- SIGNIFICANCE OF THE STUDY --- p.4 / Chapter 1.4 --- SCOPE OF THE PROJECT --- p.4 / Chapter 1.5 --- ANALYTICAL FRAMEWORK --- p.5 / Chapter 1.6 --- RESEARCH METHOD --- p.6 / Chapter 1.61 --- Data Sources --- p.6 / Chapter 1.62 --- Research Limitations --- p.7 / Chapter PART II --- PROFILE REPORTS / Chapter 2. --- SERVICE PROFILE / Chapter 2.1 --- SERVICE SCOPE --- p.8 / Chapter 2.11 --- Retail Establishment --- p.8 / Chapter 2.12 --- Market Entry --- p.9 / Chapter 2.13 --- "Advertising, Promotional & Editorial Campaign" --- p.10 / Chapter 2.2 --- PRICING OF SERVICES --- p.12 / Chapter 2.21 --- Project-based Fee vs. Retainer Fee --- p.12 / Chapter 2.22 --- Ad-hoc Projects/Events --- p.13 / Chapter 2.23 --- Advertising & Media Placement --- p.13 / Chapter 2.3 --- MARKETING EXPENSES --- p.13 / Chapter 2.4 --- PROFIT POTENTIAL --- p.14 / Chapter 2.5 --- SERVICE STRENGTHS & WEAKNESSES --- p.15 / Chapter 3. --- MARKET PROFILE / Chapter 3.1 --- MARKET CHARACTERISTICS OF THE CONSULTING INDUSTRY --- p.16 / Chapter 3.11 --- The Consulting Industry --- p.16 / Chapter 3.12 --- The Marketing Consulting Business --- p.17 / Chapter 3.13 --- Implications to Small-scaled Marketing Consulting Firm --- p.18 / Chapter 3.2 --- MARKET TRENDS IN HONG KONG: THE NEED FOR MARKETING CONSULTING --- p.19 / Chapter 3.3 --- MARKET'S SPENDING HABITS --- p.20 / Chapter 3.4 --- MARKET OPPORTUNITIES AND THREATS --- p.20 / Chapter 3.41 --- Dependence on the Retail Environment --- p.20 / Chapter 3.42 --- Business Opportunities at the Higher-ended Consumer Brand Market --- p.21 / Chapter 4. --- COMPETITIVE PROFILE / Chapter 4.1 --- TMM'S RELATIVE STANDING --- p.23 / Chapter 4.2 --- TMM VS. ADVERTISING AGENCY --- p.24 / Chapter 4.21 --- Difference in Pricing Structure --- p.24 / Chapter 4.22 --- Competitive Strengths of TMM Over Advertising Agency --- p.25 / Chapter 4.3 --- THE THREAT OF SUBSTITUTION --- p.26 / Chapter 5. --- CLIENT PROFILE / Chapter 5.1 --- CLIENT PROFILE --- p.27 / Chapter 5.11 --- Hua Guang Hang --- p.27 / Chapter 5.12 --- Maas Corporation --- p.28 / Chapter 5.13 --- Maxly Limited --- p.29 / Chapter 5.2 --- SURVEY ON KEY CLIENTS --- p.30 / Chapter 5.3 --- RESEARCH OUTCOMES & ANALYSIS --- p.31 / Chapter 5.31 --- Reasons for Using TMM's Services --- p.31 / Chapter 5.32 --- The Evaluation of TMM's Performance --- p.32 / Chapter 5.33 --- Projects in which Clients are Highly Satisfied With --- p.33 / Chapter 6. --- COMPANY PROFILE / Chapter 6.1 --- ORGANIZATIONAL STRUCTURE --- p.36 / Chapter 6.2 --- MISSION STATEMENT --- p.36 / Chapter 6.3 --- ORGANIZATIONAL STRENGTHS --- p.37 / Chapter 6.4 --- FACTORS THAT HINDER THE ORGANIZATION FROM INCREASING POSITION IN THE MARKET --- p.38 / Chapter PART III --- KEY STRATEGIC ELEMENTS / Chapter 7. --- KEY STRATEGIC ISSUES --- p.40 / Chapter 8. --- TARGET MARKET IDENTIFICATION --- p.42 / Chapter 9. --- MARKETING OBJECTIVES / PROFIT FORECAST --- p.44 / Chapter 10. --- IMPERATIVES IN SETTING MARKETING STRATEGIES / Chapter 10.1 --- THE NEED FOR SERVICE MISSION --- p.46 / Chapter 10.2 --- THE NEED FOR QUANTIFIABLE MEASURES --- p.47 / Chapter PART IV --- STRATEGIES & TACTICS / Chapter 11. --- SERVICE OBJECTIVE & STRATEGY / Chapter 11.1 --- CONSOLIDATION OF CURRENT SERVICE OFFERINGS --- p.49 / Chapter 11.11 --- Strengthen the Financial Aspect of Retail Project --- p.49 / Chapter 11.12 --- Strengthen Relationship with Retail Renters --- p.50 / Chapter 11.13 --- Strengthen Connections with Various Distribution Modes that Foreign Brand Owner Could Consider --- p.51 / Chapter 11.2 --- CLIENT /ORGANIZATIONAL INVOLVEMENT IN SERVICE DESIGN --- p.52 / Chapter 11.3 --- DEVELOP NEW SERVICES OFFERINGS AND RELEVANT SKILLS --- p.52 / Chapter 12. --- PRICING OBJECTIVE & STRATEGY / Chapter 12.1 --- MAINTAINING EXISTING PRICING POLICY --- p.54 / Chapter 12.2 --- ESTABLISHING PRICING POLICY FOR NEW CLIENTS --- p.55 / Chapter 12.3 --- PRICING STRUCTURE BASED ON CLIENT VALUE --- p.55 / Chapter 13. --- COMMUNICATIONS OBJECTIVE & STRATEGY / Chapter 13.1 --- COMMUNICATIONS 一 A HOLISTIC VIEW --- p.56 / Chapter 13.2 --- COMMUNICATIONS WITHIN TMM --- p.56 / Chapter 13.21 --- "Documented Policies, Procedures, and Strategic Frameworks" --- p.56 / Chapter 13.22 --- Computerized Marketing Information System --- p.58 / Chapter 13.23 --- More Employee Participation --- p.59 / Chapter 13.3 --- COMMUNICATIONS WITH CURRENT CLIENTS --- p.59 / Chapter 13.4 --- COMMUNICATIONS WITH PROSPECTIVE CLIENTS --- p.60 / Chapter 13.41 --- Get Articles Published --- p.60 / Chapter 13.42 --- Reaching New Target Segments --- p.61 / Chapter 13.5 --- COMMUNICATIONS WITH ASSOCIATED CONSULTANTS AND COOPERATING PARTIES --- p.62 / Chapter 14. --- SALES OBJECTIVE & STRATEGY / Chapter 14.1 --- RESPONSIBILITY OF SELLING IN THE COMPANY --- p.63 / Chapter 14.2 --- CHIEF MOTIVATOR OF SALES --- p.63 / Chapter 15. --- CHANNEL OBJECTIVE & STRATEGY --- p.65 / Chapter 16. --- TACTICAL ACTION PLAN --- p.66 / Chapter 17. --- CONTROL & BUDGET / Chapter 17.1 --- CONTROL & MONITORING OF THE MARKETING SYSTEM --- p.68 / Chapter 17.2 --- PRELIMINARY BUDGET --- p.69 / Chapter PART V --- APPENDIX & BIBLIOGRAPHY / APPENDIX --- p.71 / BIBLIOGRAPHY --- p.85