Fundamentals of Management, 8th ed



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Management Consultants

Opinions vary widely about the value of management

consultants—experts who charge fees to help managers solve problems. They often

Chapter 5: Entrepreneurship and New Venture Management

1 4 5

Copyright 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).

Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.



specialize in one area, such as international business, small business, or manufacturing.

Thus, they can bring an objective and trained outlook to problems and provide logical

recommendations. They can be quite expensive, however, as some consultants charge

$1,000 or more for a day of assistance.

Like other professionals, management consultants should be chosen with care. They

can be found through major corporations that have used their services and that can

provide references and reports on their work. Not surprisingly, they are most effective

when the client helps (for instance, by providing schedules and written proposals for

the work to be done).


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