SIRI Assessor Training Course PDF

SIRI Assessor Training Course SIRI Assessor Training Course Learners’ Guide: Module 3 - Business Consulting pg 1 SIRI Assessor Training Course SIR...

SIRI Assessor Training Course SIRI Assessor Training Course Learners’ Guide: Module 3 - Business Consulting pg 1 SIRI Assessor Training Course SIRI Assessor Training Course Table of Contents 03 Module Overview 5 1. Business Consulting 6 1.1 Role of a Business Consultant 6 1.2 Key Phases of the Consulting Process 7 1.2.1 Understand the Problem 8 1.2.2 Formulate the Contract 8 1.2.3 Analyze the Problem 9 1.2.4 Develop Solutions 9 1.2.5 Propose Recommendations 10 1.2.6 Assist with Implementation 10 1.2.7 Review and Follow-up 10 2. Business Etiquette 12 2.1 Importance of Good Business Etiquette 12 2.2 Fundamental Business Etiquette 12 2.2.1 Punctuality 12 2.2.2 Proper Dress Code 13 2.3 Meeting Etiquette 13 2.3.1 Preparation of Agenda 13 2.3.2 Interrupting a Client 13 2.3.3 Usage of Phones in Meetings 13 2.3.4 Consumption of Food 14 2.4 Factors Determining Communication Methods 14 2.4.1 Appropriate Language 14 2.4.2 Knowing When and How to Say No 14 2.4.3 Approaching Mistakes 15 2.4.4 Use of Social Media 15 All rights® reserved. No part of this document may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without prior written permission. pg 2 pg 3 SIRI Assessor Training Course SIRI Assessor Training Course Table of Contents 03 Module Overview COMMENTS Welcome to the third module of the SIRI Assessor 3. Strategic Tools and Frameworks 16 Training Course. This module introduces the key steps 3.1 Porter’s Five Forces 16 in the consulting process, followed by strategic tools 3.2 SWOT Analysis 19 and frameworks for problem analysis. Basic business 3.3 Objectives and Key Results (OKRs) 20 etiquette is also shared so that Certified SIRI Assessors (CSAs) may engage with clients more effectively. 4. Conclusion 22 Upon completion of this module, you should be able to: References 23 Describe the key steps in the consulting process Understand the fundamental business etiquettes needed for client engagement and execution of the SIRI assessment Apply strategic tools and frameworks to frame and analyze problems, including: Porter’s Five Forces SWOT Analysis Objective and Key Results (OKRs) This module is designed to be a self-study unit and will not be covered during online training. In this learners’ guide, you will find the materials and resources needed to complete the unit successfully. pg 4 pg 5 SIRI Assessor Training Course SIRI Assessor Training Course 1. Business Consulting COMMENTS 1.2 Key Phases in a Consulting Process COMMENTS During a typical consulting project, the consultant and the client undertake 1.1 Role of a Business Consultant a set of activities required to achieve a desired set of goals. This process has a clear beginning (when the assignment begins and the relationship A business consultant is a professional who analyzes business problems, is established) and end (when the consultant departs). Between these creates solutions and helps organizations develop efficient plans to meet two points, the process can be subdivided into several phases. This helps their goals. Consultants generally utilize their methodologies or frameworks both the consultant and the client to be systematic and methodical as they to guide a business and make recommendations on how to achieve goals proceed from phase to phase, and from operation to operation. more effectively and efficiently. There are different ways of subdividing the consulting process; for illustration The primary job scope of a consultant includes collecting information about purposes, the simple seven-phase model in Figure 3.2 is adopted. the problems at hand, interviewing workers and making presentations and reports for management. “Business Consultant” is an umbrella term The seven phases are: understand the problem, formulate the contract, that covers consultancy specializations such as Strategy, Management, analyze the problem, develop the solutions, propose the recommendations, Operations, Human Resources, Financial Advisory, IT and Digital. assist the implementations and finally, review and conclude the project. Despite the different skills required for various specializations, most consultants share the following general responsibilities as shown in Figure 3.1 below: Review and conclude the project Evaluating the pros and Suggesting recommendations Assist with cons of probable strategies for improvements, using implementation Identifying problems and using methods such as available models to test them seeking ways to resolve cost-benefit analysis and Implementing agreed solutions; them by adopting various decision-making matrices monitoring and communicating problem-solving progress to clients and all methodologies stakeholders Phases of the Analyzing statistical Propose consulting process data recommendations Compiling information and presenting it to clients Collecting data using methods Developing and including surveys, interviews implementing new and documentary analysis to procedures or training better understand the business Understand Develop the problem Role of a solutions Consultant Formulate the Analyze the contract problem Figure 3.1 Role of a Consultant Figure 3.2 Seven Phases of the Consulting Process pg 6 pg 7 SIRI Assessor Training Course SIRI Assessor Training Course 1.2.1 Understand the Problem Copyright clause: covering the products of the consultant’s work COMMENTS during the assignment COMMENTS As a consultant, the first phase is to diagnose the client’s problem. First, one should gather as much relevant data as possible about the client’s business Liability: the consultant’s liability for damages caused to the client, activities. A preliminary diagnosis or situational appraisal of the existing limitation of liability situation is needed to gain more insight into the business. Then, a clear scope of the assignment should be determined – including its purpose, scope, Use of subcontractors: by the consultant budget and indicative timeline. Termination or revision: specifics to be suggested by either party It is also imperative to establish communication and a positive working relationship with the client. This will facilitate smoother conversations Arbitration: jurisdiction, procedure for handling disputes where the consultant can listen and probe thoroughly to ensure an accurate understanding of the client’s needs and requirements. Signatures and dates Throughout the process, one should document the clients’ objectives and 1.2.3 Analyze the Problem obtain their agreement for the assignment’s overall direction. If possible, going The third phase requires an in-depth diagnosis of the problem at hand. This on a short tour of the client’s facilities can provide the consultant with a better is also referred to as intentional learning — which is specifically about the understanding of the business. information related to the problem. 1.2.2 Formulate the Contract During this phase, the consultant and the client shall focus on the problem statement and cooperate to collect relevant and specific data. Depending After diagnosing the problem, one should draft a proposal, communicate on the project requirements, the information may reside in several locations with the client and then submit an official proposal. Once this has been and functional departments. Once gathered, it needs to be collated and done, the client should be informed of the submission and be sent a request categorized for easy access. The consultant can then analyze the relevant for a presentation date where the consultant is to present the proposal for insights with reasonable hypotheses, challenge the assumptions of current consideration. practice and assess the client’s performance, resources and needs. One should actively strive to involve key stakeholders during problem analysis and A contract is prepared and given to the client for acceptance once a decision regularly consult their needs and perspectives. has been made to proceed with the assignment. The contract usually covers: Contracting parties: the consultant and client Much of consultants’ value lies in their expertise as diagnosticians. However, the process by which an accurate diagnosis is formed can sometimes strain Scope of the assignment: objectives, description of work, starting client relationships, as managers are often fearful of uncovering difficult date, timetable and volume of work situations for which they might be blamed. Therefore, it is crucial to have built and maintained rapport with the client from early on. The consultant Work products and reports: documentation and reports to be handed should also keep the client engaged and updated with relevant information over to the client and checkpoints. Consultant and client inputs: expert and staff time 1.2.4 Develop the Solutions Fees and expenses: fees to be billed, expenses reimbursed to the During this phase, the consultant should establish decision-making criteria, consultant make sense of the data, develop numerous solutions and identify their respective risks, limitations, benefits and costs. On the consultant’s part, this Billing and payment procedure requires both dedicated analysis and innovative thinking. Professional responsibilities: handling confidential information, avoiding conflict of interest and other aspects as appropriate pg 8 pg 9 SIRI Assessor Training Course SIRI Assessor Training Course Having collaborated with the client, the consultant should then pick the best A review of the assignment’s output and the outcome is made, beginning with solution based on the agreed upon decision-making criteria and methods. COMMENTS an evaluation of the progress and evidence. Following this is the decision of COMMENTS They should then start preparing for the recommendation phase by creating whether or not to extend the process to a more significant segment of the charts, compiling proper documentations and updating presentation slides. organization. 1.2.5 Propose Recommendations The consultant should meet the execution team to review outcomes, timelines, improvement opportunities and concluding action plans. Then, The fifth phase requires the consultant to summarize what has been they should update and close the project with management, and propose discovered and create persuasive recommendations for what the client continual improvement and sustainability if applicable. Finally, the consultant should do. The recommendations shall be directly related to the earlier should obtain feedback, summarize lessons learnt, and submit the final diagnoses of the problems and shall be accompanied by an implementation project report to the client. roadmap and expected outcomes. It is key to constantly prioritize the proposal to align to the client’s business strategy and requirements. Depending on the success of the final implementation, both the client and consultant could gain essential learning experiences, and a well-cultivated The consultant should ensure that the information and analysis are clearly relationship could keep the door open for future work opportunities. presented with a preliminary action plan and timeline, thereby allowing the client to easily implement the solutions. The engagement is usually fulfilled after the consultant presents a consistent and logical action plan. 1.2.6 Assist with Implementations After the final presentation, the client decides on how to implement the solutions. If the prior engagement is collaborative, the client may invite the consultant to help with this phase. At this stage, the consultant shall assist the client in executing the agreed upon actions, consistently monitoring progress and measuring outcomes. The consultant shall assist the client to form the execution team and identify their respective responsibilities, with an action plan that’s tailored to the team members and is actively observed. In a successful engagement, the consultant continually strives to understand which actions should be prioritized, thereby ensuring that the solutions are more likely to be implemented and that the team members are well prepared for change. The consultant’s key role is to constantly support the go-live process, manage the change process, monitor progress and collect evidences. Finally, the consultant is to provide the client and stakeholders with a wholistic progress report. 1.2.7 Review and Conclude The final phase in the consulting process consists of review and follow-up. Based on the final analysis, a follow-up plan is created. pg 10 pg 11 SIRI Assessor Training Course SIRI Assessor Training Course 2. Business Etiquette COMMENTS 2.2.2 Proper Dress Code There is value in knowing how to dress appropriately in a business COMMENTS Business etiquette is not about rules and regulations; it is about building environment. A CSA should learn about the client’s work environment and sustainable relationships with others. It is related to providing basic wear attire that is in line with the client’s guidelines. social comfort and creating an environment through effective and improved communication. Dress codes in a typical business setting include wearing conservative suits in black, grey, navy and brown. A CSA should strive for consistency as it helps 2.1 Importance of Good Business in establishing trust and credibility with internal and external contacts. Etiquette 2.3 Meeting Etiquette Business etiquette is important because it creates a professional, mutually Meeting etiquette is a set of norms and conventions that applies respectful atmosphere and improves communication - both of which increase communication and behaviour in business meetings. effectiveness and productivity. 2.3.1 Preparation of Agenda Proper business etiquette improves Certified SIRI Assessor (CSA)-client relationships and has a profound impact on the success and growth The Certified SIRI Assessor (CSA) shall prepare and share the meeting of organizations. It can help build stronger relationships, demonstrate agenda ahead of time, so that participants are able to prepare themselves confidence and promote cross-cultural awareness and respect. The success prior to the meeting. It is also important to stick to the meeting agenda as of an assessment can be impacted by the business etiquette that a CSA much as possible and guide meeting participants back on track if anyone follows with the client. digresses. Setting a clear plan helps in providing people with ample time to think about their contributions and ideas before the meeting commences. In essence, knowing and practicing good business etiquette can help CSAs This ensures a productive discussion, and demonstrates respect of the to: client’s time. Build stronger relationships with clients 2.3.2 Interrupting a Client Promote a positive atmosphere and work culture As a best practice, CSAs should not interrupt during client discussions. One should demonstrate patience, allow clients to finish sharing their views and Reflect confidence ensure an appropriate tone. In case interruption is unavoidable, one should Prevent conflicts and misunderstandings always be considerate, choose their words carefully and avoid harsh tones and profanities. 2.2 Fundamental Business Etiquette 2.3.3 Usage of Phones in Meetings Fundamental business etiquette is a set of norms and conventions that is Mobile phones should be put on silent mode and usage should be strictly expected under any professional and social setting. For the purposes of this avoided. If the CSA expects an important call during the session that cannot guide, we highlight two essential basic business etiquette – punctuality and be delayed, he or she should inform the people present in advance. Incoming proper dress code. private calls should only be answered in an emergency: one should apologize, make an excuse and quickly leave the room. 2.2.1 Punctuality Punctuality is a simple way to show courtesy and respect for your client. Mobile phones should never be placed prominently on the table, as such When you show up late for meetings, you send a clear message to others behaviour is disrespectful and raises doubts of the CSA’s presence in the that your time is more important than theirs. Punctuality should be valued as meeting. the heart and soul of good business etiquette because it shows that the CSA values his/her client’s time. pg 12 pg 13 SIRI Assessor Training Course SIRI Assessor Training Course 2.3.4 Consumption of Food 2.4.3 Approaching Mistakes COMMENTS COMMENTS Food should never be consumed during a meeting unless it’s a meeting over If a CSA realizes that a mistake has been made, he/she should immediately a meal or the client arranges a snack break. While it’s typically acceptable point this out to the client and propose countermeasures to resolve it. This is to have a bottle of water or coffee, one should avoid anything that needs to the most professional way to handle the situation. slurped or crunched loudly. 2.4.4 Use of Social Media 2.4 Factors Determining Social media has become increasingly common in the business world. Communication Methods Many companies are present on Facebook, Twitter and other platforms that they use to communicate with, advertise to and collect feedback from their 2.4.1 Appropriate Language customers. As a CSA, one should always avoid posting information related to the client or the business case on social media, as doing so may be a direct The goal is for Certified SIRI Assessors (CSAs) to effectively exchange violation of a signed Non-Disclosure Agreement (NDA). information and build relationships with the client. Any derogatory, rude or offensive language is unacceptable. The following should be adhered to: Be polite and use the appropriate language Omit jargon (technical words and phrases common to a specific profession or discipline) and slang (invented words and phrases particular to a defined group of people) Be courteous and respectful in all communications Email etiquette: A good rule to follow while writing professional emails to clients is to keep messages concise. A general rule of thumb is to never put anything in an e-mail that wouldn’t be said in public. One should strive to maintain a professional tone and follow standard writing guidelines by including a salutation, complete sentences, appropriate capitalization, punctuation and a closing statement. 2.4.2 Knowing When and How to Say No The CSA is entitled to disagree with his/her client. The CSA may be inclined to agree with a client’s statement, even if the statement contradicts with assessment principles. This may be because the CSA does not want to offend or upset the client. However, agreeing with flawed statements can undermine the CSA’s credibility in certain situations. If the CSA has proper grounds to disagree with the clients, he/she should communicate the reasons in a logical, polite and respectful manner. pg 14 pg 15 SIRI Assessor Training Course SIRI Assessor Training Course 3. Strategic Tools and COMMENTS Threat of New Entrants New entrants create additional production capacity that usually holds down COMMENTS Frameworks consumers’ costs, resulting in lower revenue and lower returns for competing firms. The following strategic tools and frameworks are useful in analyzing the industry and organization’s current state. This helps to ensure that the Firms usually have two key considerations before entering an industry: right strategy can be developed to solve existing problems. barriers to entry and the expected retaliation from existing industry players. 3.1 Porter’s Five Forces Barriers to Entry Existing competitors try to develop barriers to entry which make it difficult for Porter’s Five Forces was first described by Michael Porter in a 1979 new firms to enter an industry. Various barriers include: Harvard Business Review article. It has since become a powerful industry-level tool that is used to understand the competitiveness Economies of scale of a business environment and is often used to identify a strategy’s Product differentiation potential profitability. The rationale of an industry analysis is that the industry environment often has a direct effect on companies’ strategic Capital requirements competitiveness. Switching costs Access to distribution channels The intensity of industry competition and an industry’s profit potential are functions of the five forces, as shown in Figure 3.3. Cost disadvantages independent of scale Government policy Threat of New Entrants Expected Retaliation Firms seeking to enter an industry also anticipate the reactions of existing firms in the industry. An expectation of vigorous competitive responses reduces the likelihood of entry. Threat of Bargaining Substitute Power of Products Buyers Bargaining Power of Suppliers Increasing prices and reducing the quality of products are potential means used by suppliers to exert power over competing firms. A supplier group INDUSTRIAL RIVALRY becomes powerful when: It is dominated by a few large companies Satisfactory substitute products are not available The company is not a significant customer for the supplier The suppliers’ goods are critical to buyers’ marketplace success The suppliers’ products have created high switching costs for the company Bargaining Power It poses a credible threat to integrate forward into the buyers’ industry of Suppliers Figure 3.3 Porter’s Five Forces pg 16 pg 17 SIRI Assessor Training Course SIRI Assessor Training Course Bargaining Power of Buyers COMMENTS 3.2 SWOT Analysis COMMENTS Buyers or customers prefer to buy products at lower prices. Customers, also referred to as buyer groups, are powerful when: The SWOT analysis is an effective tool for understanding the strengths, weaknesses, opportunities and threats involved in a project or business They purchase a large portion of products activity. The strengths and weaknesses often refer to a company’s internal factors, while opportunities and threats are generally external factors. The product sales account for a significant portion of the seller’s Therefore, the SWOT analysis is sometimes called the Internal-External revenues Analysis. They could switch to another product easily The industry’s products are undifferentiated or standardized Strengths Strengths are internal, positive attributes of the company that are within the Threat of Substitute Products company’s control. Companies should consider: Substitute products are goods or services from other industries that are What business processes are successful? similar to the product that the industry produces. Product substitutes usually present a serious threat to a firm when: What assets do you have on the team; such as knowledge, education, network, skills and reputation? Customers face few switching costs What physical assets do you have; such as customers, equipment, The substitute product’s price is lower technology, cash and patents? The substitute product’s quality and performance capabilities are What competitive advantages do you have over your competitors? greater Weaknesses Intensity of Rivalry Among Competitors Weaknesses refer to the things that might need to be improved upon for the Competitive rivalry intensifies when the company is challenged by a company to be more competitive. Companies should consider: competitor’s actions or when a company recognizes an opportunity to improve its market position. Companies typically differentiate their products Are there specific factors that your business needs to be competitive? in terms of price, quality and innovations — which then allows them to What business processes need improvement? achieve a competitive advantage. The following factors affect the intensity of firms’ rivalries: Are there tangible assets that your company needs, such as money or equipment? Numerous or equally balanced competitors Are there any gaps on your team? Slow industry growth Is your location ideal for your success? High fixed costs Opportunities Lack of differentiation Opportunities are external factors in a business environment that are likely to Low switching costs contribute to an organization’s success. Companies should consider: High strategic stakes Is your market growing, and are there trends that will encourage High exit barriers people to buy more of what you are selling? Porter’s Five Forces is useful in making a qualitative evaluation of a firm’s Are there upcoming events that your company may be able to take strategic position. It helps organizations understand the factors affecting advantage of to grow the business? profitability in a specific industry, thereby allowing them to develop competitive strategies and make informed decisions. pg 18 pg 19 SIRI Assessor Training Course SIRI Assessor Training Course Are there upcoming changes to regulations that might impact your Reasons for adopting OKRs: company positively? COMMENTS COMMENTS Focus: What do we do and what do we not do as a company? If your business is up and running, do your customers think highly of you? Alignment: How do we make sure the entire company focuses on what matters most? Threats Acceleration: Is your team reaching its full potential? Threats are external factors that companies have no control over. Companies should consider: Good practices to set OKR: Do you have potential competitors who may enter your market? Put the customer first Will suppliers always be able to supply raw materials at the prices you Don’t skimp out on ambition need? Tie OKRs to larger company goals and assign individual KR owners Could future developments in technology change how you do through the OKRs cascade business? A few OKRs are just enough because they are the highest priority Is consumer behaviour changing in a way that could negatively items impact your business? If you can’t measure it, it’s not a good KR Are there any market trends that could become a threat? KRs are outcomes — not tasks. OKRs are not the only thing you do; The SWOT analysis can be effectively used to explore possibilities for new they are the one thing you must do efforts or solutions. If a company is at a turning point, an inventory of their Give yourself three months for an OKR to be effective strengths and weaknesses can reveal priorities and possibilities. It can also aid in decision-making, as identifying opportunities for success in the context Encourage employees to suggest company OKRs. OKRs are bottom- of threats can clarify doubts. Overall, this allows the company to adjust and up, not just top-down refine their plans mid-course as a new opportunity might open wider avenues, Make OKRs publicly available while a new threat could close an existing path. 3.3 Objectives and Key Results (OKRs) The original OKR concept came from Intel and spread to other companies such as Google, Twitter, Spotify, Walmart, Target and ING Bank. OKR is a popular management strategy for goal alignment within organizations. The purpose of OKRs is to link the company, team and personal goals to measurable results, while having all team members and leaders work together in a unified direction. As the name implies, the two components in OKR are the “Objective” and “Key Results”: Objective: The qualitative description of what to achieve. Objectives should be short, inspirational and engaging, and should motivate and challenge the team Key Results: Metrics that measure progress towards the Objective. For each Objective, there should be 2 to 5 Key Results pg 20 pg 21 SIRI Assessor Training Course SIRI Assessor Training Course 4. Conclusion COMMENTS References This module provides an overview of the business consulting process and 1. Atlassian. (2019) Team Playbook: OKR (Objectives and Key Results) [Online]. Available at: https:// highlights common business etiquettes that Certified SIRI Assessors (CSAs) www.atlassian.com/fr/team-playbook/plays/okrs should practice. Furthermore, it illustrates some of the strategic tools and frameworks used to structure and analyze problems. 2. Comai, A. and Tena, J. (2007) ‘Early warning systems for your competitive landscape’, Society of Upon completion, learners should possess a better understanding of the Competitive Intelligence Professionals, 10(3). consulting processes and gain practical knowledge about good business etiquette. The next module will guide learners on professionalism and ethics. 3. Community Tool Box. (2018) SWOT Analysis: Strengths, Weaknesses, Opportunities, and Threats [Online]. Available at: https://ctb.ku.edu/en/table-of-contents/assessment/ assessing-community-needs-and-resources/swot-analysis/main 4. Mindtools (2007). SWOT Analysis: discover new opportunities, manage and eliminate threats [Online]. Available at: www.mindtools.com/pages/article/newTMC_05.htm (Accessed 16 April 2019) 5. Pereira, L., Jeronimo, C. H. and Ramos, M.R. (2017). ‘Management consulting business models a perspective of sustainability’, 2017 International Conference on Engineering, Technology and Innovation. University of Lisbon, 27-29 June 2017. 6. Poulfelt, F. and Greiner, L. (2005) ‘Research on Management Consulting’ in Greiner, L. and Poulfelt, F. (eds.) Handbook of management consulting: the contemporary consultant - insight from world experts. Ohio: South-Western, Mason. 7. Schrift, R. (2012) Business Consultant [Online]. Available at: https://kwhs.wharton.upenn.edu/term/ business-consultant/ 8. White, S. K. (2018) What is OKR? A goal-setting framework for thinking big [Online]. Available at: https://www.cio.com/article/3302036/okr-objectives-and-key-results-defined.html pg 22 pg 23 SIRISIRI Assessor Assessor Program Training Course pg 22 pg 24