Why would you need a Management Consultant or a Non Executive Director?
Firstly, the two are quite different and would be engaged for different reasons.
Secondly, one is to all intent and purpose, permanent and the other is engaged for a specific task.
A Management Consultant would, for example, be engaged to lead a company through a significant change. A task that has a specific beginning and end. The task would be finite and have a definitive goal. When that goal is achieved the task will have been completed.
A Non Executive Director (NED) is a person who does not hold an executive position on the board of Directors or have an executive job e,g their job is not.like a Managing Director or a Financial Director.
He or she is employed as a NED in an advisory capacity to the Board of Directors and sits in on board meetings to provide the board with the benefit of his or her experience.
A NED might be appointed by a parent company to assist the board of its subsidiary company in the day to day aspects of a PLC where the subsidiary has no previous experience in this capacity. The NED may also be brought in to provide specific technical knowledge.
From the two descriptions above, you can see each has a different task to perform over different time frames.
There may be an occasion where a NED is brought in to establish funding routes and deal with the task of obtaining investment for the business. There are a myriad of reason for the engagement of both, which is chosen is totally dependent on what the task is and potentially, how permanent the Board of Directors want this individual to be.
There is another important aspect to consider and this is, a Management Consultant usually has access to a team of specialists that can contribute to his or her input any time it is needed, giving the Management Consultant a wider scope of knowledge than they may possess alone. This is not only efficient but is usually, good value for money.
You will note from the above explanation that the function and benefits of both differ and this hopefully will assist in the decision of which you may wish to consider further.
Questmoney can offer both services. Chat to us, its FREE and you never know where it might lead.
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