​ Management Consulting vs. Strategy Consulting?

In my consulting career, I have found many businessmen who do not really know what business consulting is, how it is done, how to select and deal with consultants etc.

Hence, I feel a little awareness on this part is 

Business consulting means giving professional advice on the management of business. It is different from "contracting" where someone is doing a work for you. It is not advice but work.

Business consulting is a very broad term, as there are a number of specialisation in it, like brand consultant, marketing consultant, financial consultant, HR consultant etc. These come under Management Consulting.

Another specialisation is strategy consulting. Most consultants specialise is various functions (branding, marketing, finance etc) and is usually focused on short term goals (like increase profit or sale etc) but strategy consultants, like us, specialise in setting the long term vision, drafting the plan for achieving that vision and making actionable functional plans. Functional plans are made based on the strategy. So difference is normal consulting specialisations are more "present day" based, while strategy consultants are vision based (future based).

Strategy consultants, acting as master consultants, might engage other specialised consultants to help the client in his vision realisation. In such cases, they act as the representative of the client, communicating the right requirement and evaluating the work of the other consultants.

So Strategy Consulting is ideal for businesses that have stabilised and are planning growth to next level. while management consulting is ideal for businesses that are more focused on present profitability or solving of a specific short term problems in management.

Most large companies and successful companies use the services of consulting firms to improve their profitability, market share and plan their future growth. 

More about using consultants in next broadcasts.

Best of luck for you and your enterprises!

Business Insights  from
Ameen Ahsan Strategy Consulting
www.ameenahsan.com

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