Strategy Consulting is one of the most misunderstood professions even though it is one of the most lucrative and most competitive destinations for the top and brightest of graduates.
A quick guide to help those misunderstood souls out there to the ins and outs of this very prestigious sector in the world today.
These are the consultants that help, in an unbiased fashion, organizations by advising them on high-level decisions to get the best results by using their knowledge of the industry all delivered in one smart package, namely them!
Because their advice is mainly at the top level of management of any company, it generally implies that this is a type of management consultancy, job description.
Helping with a wide range of issues across one and every industry in both the private and public sectors is the job of these consultants.
One good example where the strategy consulting will step in is:
- You have a business that is running at the low end at the moment and the only way to save the company is to close one of your manufacturing plants, so you call them in to decide:
•Which of the plants is the viable one to close?
•How much financial savings will be involved?
•What will the staffing and business costs be, for the company?
•Should it be closed?
•Is it a worthwhile proposition to close it down?
•How do they restructure the business to accommodate that one plant’s closure?
Why would a company use them?
With the one question always popping into mind is: “Why don’t these companies just do it themselves?”
Well, the answer is a straightforward one; they are brought in when a vital decision in which all angles must be considered, has to be made for the future of the company.
Most executives are more concerned with the running of the business whereas a strategy consulting concentrates on that one task from beginning to end to give the best decision as an answer to the company.
They have been trained in such matters and offer in-depth expertise in that specific part of the industry.
They can also come in handy when serving a legal purpose when doing a merger.
In this case, we have them as an independent source of information to see both sides and offer both parties advise as it is illegal for the two merging companies to share any information.