Consulting Q&ACategory: Why and when using Consultants ?Are strategy consultants working on strategy ?
Mattéo DaviesMattéo Davies asked 8 months ago

1 Answers
Laurent ThomasLaurent Thomas answered 8 months ago
Most consultants often regard strategy consulting as the most ‘high-end’ and prestigious segment within the professional service industry. The market for strategic consultancy consists of various disciplines: Corporate Strategy, Business Model Transformation, Economic Policy, Mergers & Acquisitions, Functional Strategy, Strategy & Operations, and Digital Strategy.

So, Coming to the question; Clients hire strategy Consultants to support them with strategic decision making, which includes the development of strategy and, to an extent, the execution of strategic plans. Strategic consultants typically work for executives and high-ranked managers. By doing so, strategic advisors can support companies with market entry into a new market or shift towards a new business model. At the same time, the work of a strategy consultant can cover all major functional strategies, spanning strategic work across the entire value chain.

For a long, strategy was the dominant capability. Its relative share in the consulting market has decreased while implementation and excellence projects flourished. Today this category represents less than 10% of the global market. It’s a subset of management consulting where consultants provide industry-specific insights and actionable strategies to deal with individual business and management challenges.

Most strategy consulting firms have activities ranging from strategy to execution. Besides, as most consulting firms now have industry verticals, it is rarer and rarer to find consultants working only on strategy.