Business strategy is where management consultants live. Most often they are giving recommendations on how a business can cut costs and/or increase revenues. Business strategy can vary between simple cost cutting plans, or involved multi-national strategies that include multiple departments, continents, cultures, personnel, and tactics. It all depends on what the business needs to be most profitable.
Business strategy can include business frameworks, that help give a structure to the necessary changes. They could also help identify what changes need to be even made. Though most businesses will not fall neatly into a single framework. Oftentimes business strategy will require management consultants to use only certain pieces or aspects of a particular business framework, or to combine that piece with other frameworks to meet the specific requirements for a client. Management consultants must have a solid grasp of not only what’s needed for a client, but the expertise of how to get them there.
Management Consulted does a podcast on business strategy called “Strategy Simplified”. In this podcast, they interview consulting industry experts for insights that can help prepare consulting candidates for consulting roles. They also look at current business problems, break down the issues that the business is dealing with, and then present their recommendations. Simple, straight-forward analysis that allows beginning consultants to grasp the type of thinking that is needed for a management consulting role. Check it out!
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