Business consulting is both the industry, and practice, of helping companies better their performance, by first analyzing organizational challenges and then developing action plans for improvement. Most privately held companies usually hire business consultants for their objective advice on corporate matters. Consulting firms leverage on their exposure to various industries and organizations that gave them access to industry “best practices”.
Today, they provide solutions whenever business owners and managers are confronted with big issues related to profit maximization, talent acquisition and retention, technology change, process improvement, and other cosmic organizational matters. They use a tried-and-tested model to identify current challenges in any of these areas and come up with corrective and preventive measures to address those.
In recent years, it is not only private companies that uses outsource services for business consulting. Some government and non-government organizations aiming to streamline their operations, adopt new technology, or retain talents have tapped business consultants for help as well.
Skills / Qualifications:
What are you looking for in a business consulting service provider? The following are just some of the big matters that business owners/managers expect their outsource service consultants to address. Depending on the consulting firm or consultants specialization, the scope of work could be more or less than whats listed down:
Business Mission, Vision, and Value Proposition – Develop values, founding principles, and strategic Cost Efficiency In A Firm philosophies to guide the company towards productivity, profitability, and sustainability.
Strategic Sales and Marketing Transformation – Review and transform company sales and marketing strategies to build stronger and mutually beneficial relationships with customers.
Pricing Strategy – Develop pricing strategies that yield positive consumer behavior and business growth.
Service Model Definition – Describe rationale of how a company creates, delivers, and captures value in terms of output quality, operating cost, and timeliness of delivery.
Technology Change Management – Analyze the status-quo (company operations and employee culture), visualize all possible changes to be made, correct various problems that may arise during transition, and create a practical execution plan for the new system.
Process Improvement – Study current work processes, identify and eliminate steps that add little or no value to business objectives, and add control points to protect companies assets and comply with local regulations. Outsource service consultants and business managers need to align all process improvement initiatives with the companies mission, vision, and service model definition.
Leadership and Organizational Development – Design leadership and talent development programs to prepare young and next-in-line managers for bigger and more strategic management roles in the organization.
Culture Transformation – Create and promote programs that advocate high-performance Bain Strategic Consulting culture to increase productivity and employee satisfaction in the workplace
Public Relations and Corporate Social Responsibility – Initiate special projects, aligned with fundamental drivers of business value, to give back to the community.
Once you have found an outsource service provider that suits your business model, it is then time to institute measures into your business that can maintain and nurture the new business relationship.