Strategy Consulting and Business Advising
The urge of hiring a strategy consulting firm has become recognized by all companies in the last decade, but why does a company need external experts? You might ask yourself why businesses need these types of experts, and why are these types of services not performed in-house.
Strategy consultants offer a fresh perspective that can be hard to find when dealing within the company. This provides additional insight which may not always be forthcoming from those who work closely within the business. This provides an impartial view that can often highlight concerns and offer solutions that are not as readily apparent to more closely-involved parties
A strategist brings a different perspective, as they don’t work for the company or have a personal investment in it. This understanding gives them a clearer view of what’s happening. This makes executives aware of crucial concerns from a third party that is free of emotional baggage, which can provide some fresh insight.
Strategy Consulting Firms Providing Structure or Strategy?
The pathway to strategy consulting is changing. The influx of entrepreneurs and executives has made it a more attractive option for those who have the skillset and mindset to thrive.
In the past, strategy consulting firms provide a variety of services, but most of them are focused on strategy. They help their clients to develop and implement a strategic plan. The first step is usually to conduct an analysis of the company’s current situation and identify the problems that need to be solved. Then they work with their clients to find solutions to those problems. They also help them to set up a strategic plan and guide their implementation. Strategy consulting firms can also provide services in other areas, such as marketing or organization design. This is because they have expertise in all aspects of business management, not just strategy.
However, the way strategy consulting firms operate is changing. The structure is part of the strategy consulting umbrella now. They are focusing on how they can support the growth of their clients and help them build a sustainable business model at the same time. This change in the way these firms operate comes with a change in the type of talent that is required for these roles. The new talent needs to be more technical, data-driven, and analytical in nature.
Strategy Consulting and Management Consulting
Strategy consultants advise on the best strategy for the company to adopt and management consultants advise on the best way for the company to execute its strategy. Management consulting is usually more hands-on and includes things like restructuring, reorganizing, and implementing change. Strategy consultants provide advice on what changes should be made in order for the company to succeed in a changing environment.
Management consultants can help companies make decisions about how to use their resources more efficiently and effectively, which is especially important in today’s competitive business. The two types of consulting services differ in terms of their approach to problem-solving and their scope. Management consultants work with a company for a specific time period to solve a particular problem or help them solve an issue that is affecting their operations at the moment. They are hired by companies to help them find solutions to problems that they might not be able to solve themselves or aren’t aware of yet.
Approach
Strategy consultants help you identify and solve issues you have beforehand. Internal reviews sometimes lead to external input. For instance, when a company has an expansion plan that doesn’t generate as much revenue as it needs to be profitable, it may hire a business consultant to review the plan and offer advice on what to do next.
There is no magic bullet to solve the problems that an organization might be facing. Fortunately, management consultants can help identify these issues and offer guidance on how to solve them. A company can hire a management consultant to review its development and collaboration techniques. The consultant may identify techniques that aren’t the most effective and recommend removing or adjusting them.
LOGIC Strategy Consulting Tailored Solutions
LOGIC delivers world-class solutions tailored to your organization’s specific needs by mapping the organization’s resources and comparing them to the markets’ resources and customers’ needs. Attaining optimized financial impact whilst maintaining smooth operations with minimal disruption in your organization. LOGIC approach to Strategy formulation through a 3-day Boot Camp model involves the client’s management team in strategy formulation as part of LOGIC capacity building and knowledge transfer. This enables our clients to institutionalize the strategy formulation process and have an established method to independently use it in the future to ensure a sustainable journey of developing the Organizational strategy.
