Strategic consulting is becoming increasingly popular because, it helps businesses go through key development periods by helping to develop long term strategies without losing it’s identity when the company is seeking to grow bigger and expand in to new areas of business.
Strategic consulting is seeking strategic advise from professionals when taking strategic decisions on behalf of the company. Strategic consultants are engaged in gathering important information about companies, competitors and industries that help their clients take educated decisions with less risk. Strategic consultants analyze all the information they’ve gathered to identify issues, challenges and opportunities and make recommendations.
Strategic consultants asses strategic options, support the business planning processes and come up with growth agendas such as market entry strategies for companies looking to expand in to new regions, launch new products or are looking to diversify.
The difference between consulting and Strategic Consulting
Strategic consulting is about long term planning whereas management consulting is involved mostly with specific projects and initiatives.
Benefits of Strategic Consulting
An unbiased angle of looking at problems faced by the company
The raising of unasked questions by in house decision makers
Developing a medium and long term strategy
During company overhauls
Strategic Consultant’s Skills Set
Ability to do analytical thinking
Ability of communicate clearly & effectively
Ability to do creative thinking especially when tackling difficult but important issues
A through knowledge of standard business practice