Management Consultancy

Analyse how legislative and regulatory frameworks inform quality standards that apply to the work setting.

policies and procedures. Staff to have the relevant training to be able to fill their role

The management of a consulting project calls on a variety of skills. This is an actuality that has been stressed throughout the course lectures, seminars and cases as well as throughout the course literature. The fact that consultants must integrate their skills when conducting a consulting project is as clear-cut as it is evident.

Assessor should follow procedures and policies at all times and ensure they are up to date with regulations and legislation, ensure equality and diversity and monitor own work.

The quality standards for an organisation set down the ‘rules’ around the products and services the business provides, the suppliers and services they use, how staff are recruited and trained and how customer service is dealt with.

The standards include a commitment to engage in fair business practices by being honest, trustworthy, and diligent while in pursuit of a profitable outcome.

1. The main legal requirements that need to be considered, including Codes of Practice, explain the impact that these have on the organisation.

| Answer: Good codes of practice require that the Standards are supported by Regulators, Inspectors and Assessors. This to monitor and improve those Standards and ensure that they are

Promote high standards in professional conduct ( see Real Estate Institute of Victoria (REIV) codes of conduct and relevant legislation)

Professional ethics are guidelines set by professional organizations that guide its members in performing the functions of their job appropriately, while behaving in a professional and ethical manner (Web Finance Inc., 2016). Some of the characteristics of professional ethics include “knowledge, honesty, accountability, integrity, loyalty, compliance with the law and more” (Reference An IAC Publishing Labs Company, 2016, para. 3). Professional ethics are important because it builds credibility and shows that the person is capable of doing their job appropriately, regardless of the situation,

19.   Firms that wish to do business with the European Community can benefit from having a quality management system that needs ISO 9000 standards TRUE

For instance, both lawyers and accountants have agreed on profession-specific codes of professional conduct, and physicians still frequently take the Hippocratic oath. Regarding management consultants the professional associations have formulated different sets of ethical rules. The contents of the individual codes either specify what professional conduct is or they indicate what cannot be considered as professional conduct. However, it is also obvious that professional rules only serve as overall ethical guidelines. The consequence of this is that the professional when practising is exposed to several more specific ethical issues for which there is no explicit or written solution.

The updated aim of the Ethical Code and Professional Conduct is to guide the investment profession across the globe by promoting the highest standards of ethics, learning, and professional superiority, which ultimately benefits society. (CFA institute handbook, 2014)

Firstly, however, the meaning of the term ‘professional standard’ must be established. There are standards that all professions must follow. These are to do with ethics and values. At the very least, standards of professionalism indicate a level of “expertise”, separating those who are considered professional from the amateur. Merely deriving an income from writing a review is not proof that a professional standard has been met. The NSW Professional Standards Council claims that any attempts to define standards of professionalism “typically centralise around some sort of moral or ethical foundation within the practice of a specific and usually established expertise”.

Performance standards are a very integral part in the underlying business operations of any firm. Competition, particularly from foreign entities is becoming more intense. As such, standards must be created in order for companies to maintain their competitive advantage over their peers in a particular industry. One only needs to look at the auto industry to see how a lack of standards and oversight can be a detriment to business. Many foreign firms, due to competition have entered into the auto market that was once dominated solely