What Does A Management Analyst Do?
In a nutshell, management analysts are called in to help a company figure out how to make their operations become more efficient. By finding out where the organization is wasting money and putting plugs on the leak, they help in ultimately improving the company’s bottom line. Also called consultants, management analysts look into the company’s processes, procedures and financial data to figure out why it’s not bringing in the profits it is supposed to or why it is having backlogs in production.
Management analysts work in many different fields. They may be hired by management, scientific and technical consulting services companies, federal and state governments, insurance firms, healthcare companies and telecommunications firms. A growing number of consultants are self-employed. But whether they are salaried or self-employed, consultants often specialize in one part of the firm—such as the information technology or the financial department—of the company or they can act as consultants for business organizations as a whole.
When management analysts are asked to troubleshoot a manufacturing plant’s problem areas, they usually go to the site itself to observe its actual production processes. They look at the methods and equipment being used as well as the working times of the personnel. Through observation and data gathering, they are able to pinpoint flaws in how things are being carried out and can design solutions that will improve productivity and reduce operating costs.
Interviewing the organization’s managers and rank-and-file employees is part and parcel of a consultant’s job in determining what the unaddressed issues are and finding ways to address them. Through well-crafted and incisive questions, they are able to figure out employee complaints which play a role in hampering their productivity. They will also talk with the executives to find out what their goals and objectives are so they will know the direction they will take in terms of the solutions they will provide.
Once they have gathered all the data and figured out the solutions for a company’s problem, management analysts then put all these in writing and give the reports to the executives. They may also have to make presentations to the board of directors and answer their questions and concerns about their proposed solutions.
Some of the recommendations that they could come up with include having stored equipment repaired, fusing departments with similar functions, eliminating jobs that can be automated and suggesting ways to reduce tension among employees that hurt productivity. If they see that the problem is in the company’s image, they may recommend a publicity or media blitz to correct the public perception of organization. If the problem is in the budget, they may recommend greater transparency in the handling of accounts. If consultants feel that the problem is at the executive level, they may even recommend a reorganization of the company’s entire leadership structure. No matter what the proposed solutions are, management analysts strive to address the issues that will make the company more efficient and help it achieve its goals of making it more profitable.