MULTIFACTORIAL METHODOLOGY OF ASSESSMENT OF SOCIO-ECONOMIC EFFICIENCY OF MANAGEMENT CONSULTING

Abstract

In this article, the author researches the problem of assessment of socio-economic efficiency of management consulting services, which is becoming more and more actual within the growing industry. Despite the visible increase of consulting projects affecting regional socio-economic development, it is still complicated to measure it due to existing methodological problems and limitations including difficulties with counting all the factors influencing regional changes, especially long-term ones, and diversity of consulting services, which complicates creation of standardized tool set for the assessment of their efficiency. The author analyzes key issues of existing approaches and suggests common methodological principles as a fundament for building a universal method of assessment, which covers different types of consulting services and clients. Moreover, it is suggested to use a new terminology for defining different combinations of different types of efficiency of consulting projects. The core result of this work is the FESG methodology that covers financial, ecological, social, and governmental components of efficiency. The methodology is described together with its limitations, conditions, and practical guidance on its usage with examples. The methodology is offered to consulting companies to assess their projects before and after the implementation. If assessing before, it helps to weigh main advantages and disadvantages, and take the decision whether to sign for the project. After the implementation it helps to confirm the value of the project and position this consulting company as a social impactor meaning it might be used as an element of marketing. This methodology is also helpful for regional governance and any researcher assessing the impact of consulting companies on regional socio-economic development.

Keywords: management consulting, consulting services, socio-economic efficiency, efficiency assessment, multifactorial methodology, regional socio-economic development

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About the Author

Vladislav E. Pavlyak – Graduate Student, Immanuel Kant Baltic Federal University, Kaliningrad, Russia. E-mail: Vlad.pavlyak@yandex.ru. SPIN РИНЦ 9298-0435. ORCID 0009-0006-6862-5615

For citation: Pavlyak V.E. Multifactorial Methodology of Assessment of Socio-economic Efficiency of Management Consulting // Beneficium. 2024. Vol. 2(51). Pp. 69-79. (In Russ.). DOI: 10.34680/BENEFICIUM.2024.2(51).69-79