Consultancy

Consultancy is a professional practice where an individual or firm provides expert advice to others in a particular field or industry. The field of consultancy is diverse, with many different types of consultants, including management consultants, strategy consultants, and IT consultants, among others.

Overview

A consultant is a professional who provides advice in a particular area of expertise such as management, strategy, IT, finance, law, human resources or any of many other specialized fields. A consultant is usually an expert or a professional in a specific field and has a wide knowledge of the subject matter. A consultant usually works for a consultancy firm or is self-employed, and engages with multiple and changing clients. Thus, clients have access to deeper levels of expertise than would be feasible for them to retain in-house, and may purchase only as much service from the outside consultant as desired.

Types of Consultancy

Management Consultancy

Management Consultancy involves helping organizations to improve their performance. This can be achieved by analyzing existing organizational problems and developing plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to consultants' specialized expertise.

Strategy Consultancy

Strategy Consultancy is one of the most 'high-end' and prestigious segments of the consultancy industry. Strategy consultants advise management teams in their strategic decision-making processes. They provide frameworks to structure the firm’s strategic planning, facilitate the process and consult on the implementation of strategy.

IT Consultancy

IT Consultancy involves advising organizations on how best to use information technology (IT) in achieving their business objectives. In addition to providing advice, IT consultancies often estimate, manage, implement, deploy, and administer IT systems on behalf of their client organizations - a practice known as "outsourcing".

See Also

• Management Consultancy
• Strategy Consultancy
• IT Consultancy

References

Consultancy Resources
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