CONSULTING & STRATEGY CVS IN NIGERIA
Strategy consultants provide unbiased advice on high-level choices, leveraging extensive industry knowledge to achieve the best results. It is a sort of Management Consulting that entails providing advice to a company's highest levels.
Strategy consultants are largely responsible for analyzing business processes and goals and making recommendations for improvements or changes in the company's direction. They assist a business in defining markets and identifying trends within those areas. Consultants in strategy troubleshoot and apply solutions to existing issues.
Arthur Dehon Little, a chemist from the Massachusetts Institute of Technology, founded the first strategy consulting firm in 1886. After that, more people joined in and helped to institutionalize the field of management consulting. Despite the fact that Arthur D. Little paved the way, he refused to follow the crowd as the field he had created grew.
From the 1940s to the 1960s, consulting firms played a significant role in the emergence of "multidepartment" organizations, which are still the backbone of many large corporations. Although consultants did not originate this paradigm, they were instrumental in spreading it. Since the 1950s, they've been regarded as the "thought architects" of the organizations for which they worked, designing everything from the structure to the plans and functions. Consulting businesses began to market strategy rather than structure in the mid-1960s. By the end of the 1980s, consultants had taken on a completely new position in companies: they were tasked with legitimizing their strategy.
Strategy consultants are principally responsible for evaluating business operations and goals and making recommendations for improvements or changes in the company's direction. They design cost-cutting, revenue-generating, and decision-making tactics. They assist a business in defining markets and identifying trends within those areas. Consultants in strategy troubleshoot and apply solutions to existing issues. In addition, Strategy Consultants examine a company's competitors to assist in the development of objectives and goals.
A Strategy Consultant, who may operate as an independent contractor or for a consulting firm, can help any business or organization. Management consultants, such as Strategy Consultants, are expected to grow at a 14 percent annual pace through 2024, according to the Bureau of Labour Statistics. The trend of businesses attempting to cut costs and enhance efficiency is predicted to continue, and it is expected to play a significant part in this forecast growth rate.
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Strategy consulting VS management consulting
Although management consulting and strategy consulting may appear to be the same thing, they are not. The most significant distinction is that strategy consulting is typically done at the executive level, with CEOs or boards of directors. To put it another way, strategic consulting is more problem-solving-oriented.
Strategy consulting is the "What" and management consulting is the "Do" at the highest level. Management consultants execute strategic vision whereas strategy consultants focus on the key questions and strategic direction. They are intertwined and frequently rely on one another.