MANAGEMENT CONSULTING PRACTICE

VENTURELAB

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Service Offering- Management Consulting

No one understands your business better than you and we respect that, but doing so many things at the same time often makes you miss on new and emerging opportunities, threats and challenges which may impact your brand. Venturelab brings over 100 years of cumulative industry knowledge and experience to help educational institutions succeed in todays fast changing environment. The Firm possesses complementary skill sets, which assist to generate superior returns. Here, we go for restructuring business strategy for institutions facing problems in Indian education market. These institutions often have strong, profitable foundations, but typically lack certain key attributes required to transition the company successfully to the next level of size, sophistication and geographic scope. Venturelab seeks to professionalize these institutes and build scale through providing financial and intellectual capital as well as enhancing control through management, governance and system improvements. In our Management Consulting Practice, we conduct: 1. 2. 3. 4. Academic and Administration Audit; HR Audit; Financial Audit; and Energy Audit

Academic and Administration Audit We initiate with Academic and Administration Audit. This Audit is a process for achieving continuous quality improvement in academic programs. This Audit is made up of two complimentary subsets of audit activity: Continuous Audit Enhancement Audit

Continuous Audit involves the collection and evaluation of a range of routinely produced evidence (approval and review schedules, minutes of faculty committees, course documents, modification reports etc.), the observation of a number of key faculty events and desk based audits of documentation held by faculty registries. This Audit is a faculty-driven model of ongoing self-reflection, collaboration, teamwork and peer feedback. It is based on structured conversations among faculty, stakeholders and peer reviewers all focused on a common goal: to improve quality processes in teaching and learning and thus enhance student success. During the self-study phase of the Academic Audit, the faculty look at the key activities in place that regularly improve the quality of teaching and learning. Faculty members reflect on how

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they organize their work and how they use data to make decisions. The faculty may also note opportunities for improvement during this self-study phase and thus identify initiatives for improvement.

Enhancement Audit involves a review of Academic Auditor Team. This team reviews a programs selfstudy report, conducts a site visit, and writes its own report that includes commendations, affirmations and recommendations for continued improvement. Enhancement audit will seek to enlarge on specific themes arising from the outcomes of continuous audit activity or other institutional monitoring.

Ultimately, Academic and Administration Audit serves to: provide assurance that the delegated responsibilities for quality and standards of academic provision are being appropriately discharged; and to promote quality enhancement by the identification and dissemination of good practice.

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HR Audit In HR Audit, we strive to conduct a comprehensive needs assessment based on your mission, goals, and maturity of your organization's life cycle to devise and develop organizational structure (hierarchy of designations) that best fits the needs of your organization. The comprehensive HR audit covers all areas of HR management like recruitment practices, training and development, compensation and benefits, employee and union relations, health, safety and security, miscellaneous HR policies and practices-welfare, strategic HR issues, manpower planning/budgeting etc. Here, we carry out studies and research on specific problems and carve structural solutions for the required educational administration. Solutions are specially designed for your board to focus on your organization's individual issues and optimal performance. Customized consulting services allows your organization to challenge assumptions, rethink systems, begin a planning process, tackle difficult issues, forge camaraderie, and ultimately improve your performance. A well-crafted HR Audit that is implemented with careful thought can transform an organization into one that is performance-driven and outcome-focused. The evaluation can be a positive and enriching experience for managers, employees and the agency. HR Audit helps: 1. To ensure effective utilization of human resources. 2. To review compliance with tons of laws and regulations. 3. To maintain or enhance the organization's reputation in a community. 4. To instill a sense of confidence in the human resource department that it is well-managed and prepared to meet potential challenges and opportunities.

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Financial Audit In Financial Audit, we conduct: 1. 2. 3. 4. Audit of Receipts Audit of Expenses Audit of Assets Audit of Liabilities

Audit of Receipts Fees from students is major source of Income for most of the EIs. Here, we check admission fees and check whether or not refundable amount has been shown in liabilities. Fee received from students is duly verified with the receipts issued to them. In case of late payment of fees, it is seen whether or not fine has been duly imposed as well as collected. Fee concessions are duly authorised. Income from Investments is also a good source of income. It is generally found that all the EI's invest their income in Fixed Deposits with specific Bank so it is properly checked whether or not interest or dividend has been properly accounted i.e. shown in Profit & Loss Account. Then, EIs generally receive Grants from Government, so AS- 12 is properly accounted. We suggest heavy donations should not be received in cash and if it is done, we make sure institutes ask for the PAN No. from the donors for transparency purpose. Most of the EIs give some of the land on rent to banks, canteens, etc so rent received is checked with the receipts issued.

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Audit of Expenses Vouching is done for the expenses. Salary register is duly checked. Expenses on Prize Distribution, Sports Day, Library, Sports Items are duly authorized.

Audit of Assets Ownership as well as existence of Fixed Assets is physically verified. Current balance of cash is verified with the respective account. Then, we verify the schedule to Fixed Assets.

Audit of Liabilities Here, Main focus is on Corpus Fund (fund generated and kept by an Educational Institution for its existence and sustenance).

Energy Audit An energy audit is the procedure undertaken to identify what, when, and how energy is used in a building and it is the major step to improve the energy efficiency of buildings by identifying opportunities to reduce energy consumption. The implementation of energy efficient measures, without compromising comfort level of occupants, can significantly reduce energy consumption in buildings and the energy bills. We go for a broad spectrum of energy studies ranging from a quick walk-through of a facility to identify major problem areas to a comprehensive analysis of the implications of alternative energy efficiency measures sufficient to satisfy the financial criteria of sophisticated investors. Hence, the major aspects include: The analysis of building and utility data, including study of the installed equipment and analysis of energy bills; The survey of the real operating conditions; The understanding of the building behaviour and of the interactions with weather, occupancy and operating schedules; The selection and the evaluation of energy conservation measures; The estimation of energy saving potential; The identification of customer concerns and needs.

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Conclusion Our Management Consultancy service offering ultimately: Assists in Institutional Assessment and Improvement Planning Helps in monitoring progress and evaluating outcomes Translates Goals into a series of concrete activities Clearly establishes performance expectations for employees Links employee performance to overall organizational objectives Encourages frequent dialogue about performance between managers and employees Allows for recognition of top performers
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Creates favourable Organizational Climate (helps in Team Building)

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