What is a Strategy Consulting Firm?

Management Consulting Firms refers to the practice of helping organisations to improve their performance, primarily through the analysis of existing organisational problems and development of plans for improvement. Organisations may draw upon the services of management consultants for a number of reasons, including gaining external advice and access to the consultants' specialised expertise.

As a result of their exposure to and relationships with numerous organisations, consulting firms are also said to be aware of industry "best practices", although the transferability of such practices from one organisation to another may be limited by the specific nature of situation under consideration.


Consultancies may also provide organisational Change Management Assistance, Development of Coaching Skills, Technology Implementation, Strategy Development or Operational Improvement Services. Management consultants often bring their own proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks.

 

The 4 top Strategy Consulting Firms are McKinsey, BCG, Bain and Deloitte.

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