International Management Consultancy (IMC) provides valuable guidance and advice to various areas in business. This is a consultancy firm for the human resource, marketing, engineers and other professionals. It also offers varied MNC’s with various kinds of talented employees and thus this helps IMC to widen the portfolio of the client. The main aim of IMC is to help the management authorities of different companies in taking major decisions related to the strategy, technology and operations. The MNC’s tries to engage the consulting firms to fulfill different areas of expertise which they do not have and want to recruit (Paul & Baschnagel, 2013).
PESTLE Environment of Australia
Australia has a stable political environment and this will be beneficial for International Management Consultancy (IMC) to operate its business. Australia is a growing economy and it has a skilled and educated workforce which will help the consultancy firm to select different kinds of professionals for different kinds of job. All these factors helps in upgrading the market conditions and it will also help the consultancy in various kinds of innovation to attract more candidates for various companies. Running a business in Australia is also very safe and it has a high degree of certainty. The political environment is progressive, stable and open and the investors can invest certainty and confidence. There is also transparency in the functioning of the government. Thus, the political scenario of Australia is effective for IMC to run its business successfully (Walsman et al., 2015).
The economy of Australia is open for all kinds of businesses. The prices of property are very high in Australia. It is a financial hub and there are many companies which will help IMC to recruit for those MNC’s. IMC has to rent such a property in Australia where it can operate its business at low cost. It will be profitable for IMC if it buys a property in Australia and then operate its business. The economy of Australia will attract a large customer base for the business operation of IMC. .The economic stability of Australia is higher and stable compared to other countries like UK and USA (Withers et al., 2015).
The literacy rate in Australia is very low and IMC must conduct a proper survey of the market before operating its business. The people to Australia prefer to work in different companies rather than remaining unemployed. The professionals constitute a major portion of the economy. The people also prefer standard items and a proper living environment as a status symbol. The various universities of Australia attract overseas students and it will be profitable for IMC to recruit them in different companies (Brandon-Jones et al., 2016).
The various kinds of innovation by the different MNC’s will help IMC to operate its business as it will get a large number of clients. People will visit them to get engaged in different kinds of job. The improvement in the technological factors will reduce the cost of the company and it will improve their quality. IMC will use latest methods to sort out the profiles from different job portals to recruit in different companies (Kremer & Symmons,2015).
The people of Australia are very broad minded and they prefer changes in the economy. This will help IMC to operate its business profitably. The unemployment rate is very low in Australia and also the laborers are very skilled. The economic environment of the country is also very suitable for IMC for the operation of its business. There are a large number of private companies in Australia and it will be profitable for the consultancy firm to operate its business properly(Au, 2017).
The corporate tax in Australia is very high and it is about 30%. This rate is very high compared to the other countries of the world. These legal factors affect the cost of the firms and it will also affect the customers. The legal factors can affect the customers of IMC and they will not be willing to take the services provided by IMC (Lamontagne et al., 2016).
The strength of IMC is that it tries to satisfy the demand of the customers and helps them to compete for different kinds of jobs. IMC also provides training to the customer who wants to join a good MNC and they are not capable of doing that. It tries to recognize the capabilities, skills and qualification of the candidates and provide them a proper job according to that. IMC plays a different role compared to the other service providers (Ramkumar, Schoenherr & Jenamani, 2016).
The weakness of IMC is that it needs a huge amount of capital for reaching out to the customers and for a proper marketing strategy. It is also important for IMC to conduct a proper market research to attract customers and to help the new customers to know about the services that it provides (Eva et al., 2014).
The various environmental, political, socioeconomic factors provide opportunity to IMC to operate its business successfully. IMC has developed a strong network which will help in expanding the client base of the company. It will also help in the evaluation and to reap the benefits in accordance with the latest technology, emerging markets, support of the agencies and also different types of availability of capital. The time limit given for the different kinds of recruitment must also be taken into consideration (Peh, Pheng & Che-Ani, 2016).
The opportunities which are available to IMC are also providing threat to the company. The legislation of the company if not passed will increase the cost of license to the company and thus it needs to obtain special permission related to certification and licensing. This type of legislation will help in providing an opportunity for the consultant firm to increase the different kinds of professionalism which are associated with the company. The company must try to operate its business successfully so as to compete with the other competitors (Bohari, Cheng, & Fuad, 2013).
The political environment of Australia is favorable for IMC to operate it business. IMC will get many clients as because people in Australia look forward for a different kinds of job and they prefer to stay employed. IMC tries to remain focus to its clients and this will help in improving its customer base. The customers will trust the company and they will prefer to apply various kinds of job through these consultancy firms. It is also very vital for IMC to find consultant clients which will send them customers to recruit on various posts. IMC must also use proper marketing tactics so that it will be easier for them to attract a large number of customer base. IMC also gives advices to the customers who visit the consultancy to search different kinds of jobs. This helps them in increasing the customer base (Krolikowski, 2017). At the initial stage, IMC provides the customers with the requested information or the type of job they are looking forward to join. They also provide different kinds of solutions to the clients. It is also important to build a proper network and relationship with the clients which will help them in the successful development of their business. The private companies will hire these consultants like IMC to hire the best employees. Various social networking channels will also help IMC to promote its business. IMC must also spend important and face to face meeting with the important client so that it will help the company to get the expertise as per their requirement. When IMC finds a particular client, they need to attract them in such a way that if they are not comfortable with one single company, they can move to some other company through the consultancy firm. The customers sign the contract with the consultancy firm and thus they join the company according to their comfort ability. IMC also needs to conduct a proper market research before hiring for the companies. They need to check out that there are suitable candidates who are fit for that particular position and thus do not send irrelevant candidates for important posts (Jong et al, 2015). IMC must communicate to the candidates the proper details of the job before sending them for different kinds of interview (Klotz et al., 2013). This will help in removing the confusion of the clients as well as the customers and IMC will be able to satisfy both of them. IMC must charge appropriate fees for the candidates so that the candidates can approach them and a good job. There are many consultancy firms which charge a very high fee from the candidates and it is difficult for the candidates to bear such a huge cost before joining the job. IMC takes into consideration all these aspects and it tries to satisfy the clients at an affordable cost (Fitjar & Rodríguez-Pose, 2013).
IMC must try to provide jobs in those sectors where there are a huge number of competitors and there are huge numbers of competitors. They should try to organize local camps in the community where they can expand their business and it will also help the other organizations. IMC must also try to hire some agents who can advertise and attract the clients in the market who are looking forward for a particular job. IMC must also try to develop different types of business proposals for the type of businesses they offer. These proposals will help in developing the different kinds of challenges that IMC will face in its business strategy. IMC must try to maintain honest relationships with the clients. This is vital because effective and transparent communication is important in all the stages so that it performs effectively with the clients. IMC must also try to tie up with the various important industry regulators and this will help both of them in developing their relationship (Donnelly, 2015). They also need to choose the client accordingly and they must dedicate themselves for fulfilling the missions of the client. They must also try to analyze the need of the clients individually so that it will help in drawing a large number of customers. IMC must communicate with the customers on a face-to-face basis before sending them to a particular company. This will help them to know the customers in a better way. IMC must conduct confidential surveys with the customers so that it will help them to know the market better. IMC must also give soft skills training to the customers because it will help the customers in their personal and professional development. This soft skill programme will also help to develop a proper market base because if the customers get a good job through them, they will refer their friends and relatives and the client base of IMC will be improved (Pan, 2017). Moreover, the companies that recruit through consulting firms get better candidates because these consultancy firms conduct surveys and meetings with the candidates and they conduct different phases of interview before sending the clients to attend the interviews of different companies. IMC must also consistently be in touch with the recruiters and know about the candidates after sending them for placements. This will help IMC to develop a good relationship with the recruiting companies. IMC must also take interest in advancing the careers of those students who are in urgent need of job. They must understand their problems and take appropriate actions accordingly. IMC must also properly understand the requirement of the recruiter and then choose the candidates accordingly. They must properly match the goals, skills and interests of the candidates before sending them for a mentioned post. To be a successful and top recruiting consultant, IMC must develop a proper relationship with the client as well as the customers (Saks & Burke?Smalley, 2014).
Interactive leadership strategy must be followed to satisfy the clients and the company. In an organization where there are many employees and it becomes vital to work in team. The leaders must try to identify and develop the unique methods of training and he/she must also be able to identify the experiences and motives which will help the clients to identify different processes. The candidates can also talk with the IMC authorities and this will help them in meeting their demands. It will be advantageous to be an interactive leader because it will help in connecting with the other superior leaders and these will help in the development of the company. The candidates and the clients will know each other better if the leaders display interactive leadership style. They can share the reason and the common purpose for searching that particular job (O’Mahoney & Markham, 2013). In interactive leadership, the leaders to IMC can also develop personal interaction with the clients and this will help to develop a collaborative and consensus process. The other employees of IMC must also try to lead the team and this will help in developing the client base of the company. The leaders must also try to develop a sense of trust among the clients so that it will help them to improve their customer base (Grant, 2016). The leaders must develop proper relationship with the client and they must be in touch with the recruiters to know about the performance of the candidates. Interactive leadership is also suitable raising the voice of the clients. The clients will be provided proper training and in many circumstances the clients can also raise their voice if they are not satisfied with the job. They can co-ordinate with the management authorities of IMC and thus discuss their problems and issues. IMC will organize camps in the local community and this will help the leaders to interact with the local clients, understand the needs of the clients and thus find appropriate jobs for them. The clients will also be motivated and satisfied if they find proper feedback of their job related queries. They will be willing to approach the management authorities of IMC and they will also refer their friends for visiting the consultancy company and getting themselves placed in such top companies. The company will also conduct different kinds of research and analysis before sending the candidates for the job and this will also the candidates in getting the best job (Lopez-Parra et al., 2016). The leaders must meet and interact with the candidates and this will help in developing the business culture and business leaders. The candidates can discuss different kinds of issues they are facing in the job with the leaders and the leaders must try to solve them accordingly. They can openly discuss with the clients about their problems and issues and this will help in developing proper relationship with the clients and the company. This type of leadership style will benefit both the client company and the customers and it will help in creating and cultivating the effort, direction and effort of the candidates in a proper way. This kind of leaders also sees that it will benefit both the companies and the leaders and also considers that both of them win in such a case. IMC also tries to nurture and encourage the employees accordingly. IMC also tries to support its clients effectively and properly. This kind of leaders must also try to support the employees and must help in attaining and identifying their goals. This type of leaders also tries to build a proper support and interactive network with the clients and the company. If they fail to understand them properly, they should not blame the candidates for it rather they must try to understand it and solve them accordingly. The leaders through proper interaction must support the clients and help them to realize their goals and tasks properly. They must also apply them in meeting the standards, expectations and norms and the customers must be encouraged to share the required information with them (Branstetter et al., 2014). The leaders must also try to provide proper and necessary help to the customers and this will help in developing co-operative goals with the clients. The leaders must also try to impart correct information on the latest technologies and this will help them in facilitating proper information to the clients. Delivering proper information to the clients will help in the clear understanding the missions and goals of the company properly.
I have learned how the internal and the external environmental factors affect the working of the consultancy. Identification of the internal strength of a company will help the company to develop and progress. It will also help in analyzing the weaknesses of the company and thus find out effective means to work on those weaknesses. Similarly the opportunities and threats are also vital for the successful working of the company. It is also important to identify the needs of the clients and this will help IMC to find out the proper clients and deliver the right information to the clients. Moreover, PESTLE analysis is also done and this will help to understand the environment of Australia (Ravn & Sterk, 2013). The legal, political and economic environment of Australia is important to understand because it will help me to know how IMC will operate and how it can expand its customer base. I have also analyzed the strength, weakness, opportunities and threats and it has helped me to widen my area of knowledge because I had given certain recommendations to the company to develop accordingly. Moreover, I have also identified what type of leadership style will be effective for the successful working of the IMC and how the leaders can identify the needs and requirements of the clients. I have also learned how effective and proper interaction with the people will help in the development of the company and gathering a huge customer base. Thus, it can be said that interactive leadership style is effective and helpful for IMC as well as the client company and the candidates who wants to get themselves placed in a good company (Douglas & Leite, 2017).
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