If you’ve been around the business world for a while, chances are you’ve heard of strategic consulting. Since it is a bit different from standard consulting, you may have asked yourself, “What is strategic consulting”? Well, that’s a good question.
Continue reading the content below, and we’ll provide that answer and more in the content below.
What Is Strategic Consulting?
Strategic consulting is more of a high-end type of consulting for prestigious business sectors. It’s also referred to as boardroom consulting. These types of consulting services are centered around supporting private clients to help them develop their corporate business strategies.
There are thousands of consulting firms around the globe. However, not many of them are able to partner with businesses in the top market.
Essentially, there are two types of firms. The first type is pure play strategy consulting firms. They focus primarily on strategy and operations.
On the other hand, there are multiservice firms, which are a general consulting firm that offer strategy services.
Strategy Consultant Job Duties
Clients hire strategy consultants to help them with decision-making plans regarding multiple sectors of their company. The businesses rely on them for support with areas such as development and execution plans.
It’s the consultant’s job to partner with senior management to get the job done. In most cases, a strategy consultant works directly with high-ranking managers and executives.
The primary task for consultants is providing advice for management. They’ll offer assistance to them in a variety of ways. They’ll assess the situation through interviews, desk research, surveys, and data analysis.
Once they’ve gathered all of their information, they’ll implement a strategy and execution plan to help the organization succeed. Essentially, strategic consulting is more hands-on.
In this field, the consultant isn’t just providing advice, but taking active steps to partner with the company.
But in some cases, strategist only provide support during the advisory stage. Depending on the agreement, consultant involvement during the execution phase is restricted.
In fact, for some strategic consulting firms, once they’ve provided all of the necessary action plan steps, they’re not involved with helping the business put the plans into action.
Here are some qualities that a strategist needs:
- High level analytical skills
- Ability to partner with executives and senior managers
- Ability to adhere to tight deadlines
- Ability to work long hours
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Understanding Strategic Consulting
As you can see, strategic consulting plays a huge role in helping high-end organizations put together a firm business plan, and improve their current business. If your company is just starting out, you may not need a strategy consultant to help you. However, that all depends on your goals and the type of clients you’re trying to reach.
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