Strategy consulting is one of the core components of management consulting services. In small- to mid-size scenarios, the strategy consultant and the management consultant will often be one in the same. In large business scenarios, the management consultation team will often include a specialised strategy consultant.
An example of a situation that requires a dedicated strategy consultant is when a large business or corporation must integrate an acquisition. Another is when worldwide companies need to reduce costs along a global supply chain. In scenarios such as this, the management consultation team will employ a strategy consultant who specializes in the specific strategies needed to meet those needs.
What does a strategy consultant?
On any level, the strategy consultant’s job is to find solutions to problems for which there is no textbook answer. In other words, the strategy consultant specializes in being an innovator, which is a highly sought after skill set in today’s complex business environments. Once the management consultant has properly diagnosed the problem, the strategy consultant will provide a solution as well the practical and effective path to implementation of that solution.
Whether they are highly specialized consultants or one in the same with the management consultant, businesses use strategy consultants to prepare them for change. Their core responsibilities include improving operation efficiency, improving operational productivity, strengthening relationships between the business and clients, partners, and vendors, cultivating and disseminating knowledge, and managing change to achieve and sustain success.
Strategy consultants are valuable as a pre-emptive measure because they help companies prepare for unforeseen changes. A consultant can reveal the implications of how a company conducts business within industry, trade, and competitive contexts. Through collaboration, analysis, and the knowledge of interrelationships, such as those between people, processes, and technology, a strategy consultant can help a company identify and achieve competitive, financial, operational, and relational goals.
In competitive marketplaces, businesses can strengthen their performance by recognizing potential and then implementing a strategic plan focused on improving positioning and increasing transparency across relationship networks. However, these types of strategies can be difficult to achieve internally. A strategic consultant allows the company to continue normal business operations while he or she tweaks the links in the chain. They can also build completely new business capabilities and integrate them in such a way that business continues with minimal interference. A business cannot usually conduct this type of alteration internally and achieve the same level of smoothness in the transition.