Posted on: Jul 18, 2024
In contemporary business practices, numerous organizations benefit from consultants services to acquire specialized knowledge and expertise in areas where internal resources are lacking. Consultants assist in identifying problems, optimizing business processes, and implementing effective solutions across a wide range of processes starting, from basic operations to support strategic decisions. The last are supported by strategic consultants, but who are they and what do they do? What are their skills?
- What is a strategy consultant?
A strategic consultant is a professional with experience and expertise in strategic management. With such services, companies develop and implement key strategies for the enterprise. In preparing expert reports, such a person cooperates with various areas of business, thanks to which is able to simultaneously look at the organisation’s problems from the outside, extract relevant information from various perspectives and holistically approach strategic topics. Such a comprehensive view, reinforced by in-depth analyses of the market, competition and trends, enables the development of high-quality advice and solutions, taking into account the different areas of the company’s activities.Strategic consultants usually also work with the top senior management level to support processes such as restructuration, cost optimisation, innovation and change management, among others. They often act as a key business partner, contributing to the long-term strategy of the organisation, implementing certain strategic elements and carrying out transformation processes. - What does a strategy consultant do?
The scope of a strategic consultant’s responsibilities depends on the individual needs of the client. Generally, such a person starts by precisely defining the long-term goals and strategies of the company and the objectives that have been set for consultant’s services. The first step in this complex process is to fully understand the company’s situation and identify existing problems, challenges and opportunities. This involves contacting with various departments, actively building relationships and scrupulously gathering relevant information. On this foundation, the consultant conducts in-depth analyses, and develops plans, consulting with the company’s management, adapting the approach to the evolving strategies. Subsequently, the focus shifts to preparing strategy implementation plans, presents practical solutions and identifies possible risks, enabling flexible responses to new conditions.During the strategy implementation process, the strategic consultant can take an active role, supporting processes and monitoring progress. Once the objectives have been achieved, an evaluation of the effectiveness of the activities takes place. An important aspect is to remain available to the client, offering further advice and long-term support. In this way, the strategic consultant plays a comprehensive role, supporting the company at every stage to achieve its strategic goals. - Strategy consultant skills
Being strategy consultant requires set of soft and hard skills such as:- Adaptability:
The great strategy consultant must be very adaptive. Such role requires navigation in complex and fast changing business environment. Due to time limitation, crucial is to quickly understand issues and be able to help the client. - Leadership:
The effective leadership skills let on foster collaboration, influence others, drive the change and collaboration. - Analytical skills:
The ability to analyse and interpret large amount of data and information in aim to guarantee that recommendations will include insightful, meaningful conclusions. - Problem solving:
Strategy consultants must tackle different challenges and be able to think critically and creatively in order to come up with unique solutions that address complex business issues and promote organizational success. - Communication skills:
The ability to effectively communicate with all stakeholders is a key in aim to explain complex concepts, facilitate collaboration and to convince to the required changes. - Project Management:
It is essential that strategy consultant possesses hard skills required to initiate, plan, execute, control and finalize a project. - Domain knowledge:
The ability to understand industry, business needs, clients’ needs, and using tools in aim to perform strategic analysis and prepare recommendations, - Presentation skills:
Strong presentation skills allows on effective communication of complex concepts, ideas and suggestions. This ability speeds up making decisions by clients.
- Adaptability:
- Why is strategy consulting important?
Strategy consulting is essential for businesses that want to succeed in complex and dynamic market environments. With the objective to assist organizations in identifying and achieving their long-term objectives, it provides professional advice and customized solutions. This type of consulting is not the same as management consulting, which frequently deals with more extensive administrative and operational problems. Rather, the development and implementation of business strategies that encourage growth and competitive advantage is the exclusive focus of strategy consulting.The primary reason why strategy consulting is important is its ability to bring a fresh, objective perspective to a company’s challenges. Strategy consultants need to have broad industry experience and expertise, as well as the ability to recognise possibilities and risks that may be overlooked by internal teams. Furthermore, the role of strategy consultants takes significance during periods of major change including mergers acquisitions, technological transformation or market disruptions. In such circumstances, organisations require clear and decisive guidance to navigate uncertainty and take advantage of emerging opportunities. Consultants specialising in strategy provide this advice, ensuring that businesses remain flexible and strong.
In summary, strategy consulting is a great opportunity to develop a competitive edge. Strategy consultants provide invaluable insights and guidance that are essential for developing effective strategies that ensure sustained success.
Author:
Michał Liszewski
Program Manager & Senior Consultant
