The strategy and operations-based consulting services offered by Deloitte assist senior executives with solving their toughest and most complex problems by combining deep industry knowledge, rigorous analysis, and insight to enable confident action.
Strategy Consulting: What Is It?
In strategy consulting, businesspeople – generally executives, boards, or management – engage a third party to provide an outside, expert perspective on their business challenges. It is common for strategy consultants to have the considerable industry knowledge and to be expected to analyze high-level business issues in an objective manner. Taking a holistic approach, they evaluate specific problems companies are facing and provide advice on the best way to deal with them.
In general, strategy consultants provide their clients with assistance for a specific period of time. As part of their assignment, they must dedicate all of their time, effort, and attention to a specific problem during that time period.
What Is the Role of a Strategy Consultant?
The first step that a strategy consultant takes when undertaking a new project is to conduct an in-depth analysis of their client’s business objectives and goals. A key objective of this analysis is to find out if their current practices are in alignment with what they are seeking to accomplish. In light of their analysis, the consultants will provide strategic recommendations that can be implemented to improve the company’s performance.
Furthermore, strategy consultants can provide expertise on market research and the competitive landscape in order to enable the client to make well-informed decisions that are in the company’s best interest.
Using the services of a strategy consultant, a company may be able to receive guidance on the following topics:
- Budgeting advice – best practices for reducing costs and increasing revenue.
- Production strategies – Recommendations for improving the efficiency of production.
- Management of opportunities – Identification of new revenue sources or product opportunities.
In addition to providing clients with sound recommendations, consultants may be able to assist them in implementing those recommendations.
A Guide to Succeeding in Consulting
Now you may be wondering, how can I distinguish myself from other consultants once I enter the consulting industry?
Choosing a niche is the first step toward success in the consulting field. Is there a particular area of business in which you are most knowledgeable? Do you have any particular expertise when it comes to solving problems? The best consultants are capable of leveraging their expertise to drive results for their clients. Take the time to consider the value you will bring to the field when you enter the field.
If you want to keep clients coming through your door, adding value isn’t enough. It is essential that you can demonstrate the value you bring to your clients in order to continue to win new ones. Whether that is sharing valuable thought leadership content, case studies, or having a roster of testimonials from previous clients and projects, successful consultants must be able to demonstrate what value they contribute and why they are an appropriate candidate for client support.
So, Does Deloitte do Strategy Consulting?
In short, yes. They say “Our strategy and operations practices are consistently ranked #1 or #2 in the profession, achieving as much as double-digit growth in select capability areas. Services include corporate and business unit strategy, innovation strategy, mergers and acquisitions, supply network strategy and operations, and finance and enterprise performance. The acquisition of Monitor group years ago combined Monitor’s highly-influential brand, strong thought leadership, and talent with Deloitte’s extraordinary reach, access, and resources to solidify the Deloitte network as a worldwide leader in strategy consulting.”
Conclusion
The field of strategy consulting is an exciting one that serves an important purpose. The purpose is to provide clarity to businesses and assist them in staying on track. Obtaining a position within this field is not the easiest task, but if you have the right education, relevant experience, strong problem-solving skills, and the willingness to work hard, you can set yourself up for success.
