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Business Consulting: Definition and Areas of Intervention

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Business Advisory

Commonly refer to as consulting, business consulting has become very famous in recent years. However, for many business leaders and more particularly for several directors of TPE, this remains an obscure area.

Several of the latter even consider it financially inaccessible. However, it has advantages on several levels.

What is business consulting? What are its areas of intervention? How to choose a consulting firm?

You will find all the answers to these questions in this article!

What is business consulting?

Business advice is external assistance to which a manager uses to make strategic choices in order to improve the performance of his company.

Indeed, its decisions have important consequences on the life of the company and on its functioning at all levels. In addition, it may happen that he is confront with problems for which he does not have the solutions.

So, to make good decisions and reduce risks as much as possible, he calls on an advisory mission. This mission can be carried out by an independent consultant or by a firm that has a team of consultants.

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It generally takes place in 7 main stages:

st step of consulting engagements for companies: preparation

The consultant (or the team of consultants) carries out preliminary interviews with the manager or any other manager of the company to identify the problem to resolve. He takes stock of the situation and establishes a preliminary diagnosis.

If this diagnosis is validate by the manager, it will serve as the basis for the establishment of an assignment contract between the two parties.

2nd step of a business advisory mission: data collection and analysis

This is where the actual mission begins. The consultant will do a series of interviews with a list of people working in the company in order to collect as much data as possible.

This data will then analyze, and those that fall within the realm of opinions and value judgments will discard.

3rd step of a consulting mission: the in-depth diagnosis

This diagnosis will establish thanks to the in-depth analysis of all the data that fall within the realm of facts.

4th step of a consulting mission: setting up an action plan

Taking into account the objectives to be achieve and the results to obtain, the consultant sets up an action plan which contains specific measures to be taken to solve the problem or carry out a project. It must specify the different roles, the methods to use, and a timetable.

5th step of a consulting mission: support in the implementation of the action plan

This support could consist of:

  • train staff;
  • contribute to the drafting of new working procedures;
  • coach managers who are directly involve in the implementation of the action plan;
  • conduct monitoring meetings;
  • etc.

6th step of a business advisory mission: evaluation of results

It takes place during a meeting between the consultant (or the team of consultants) and the mission monitoring manager (s). On the basis of precise indicators, they take stock of the various contributions of the mission to the company.

7th step of a business advisory mission: communicating the results

At this level, the results obtain by a service or a department of the company are communicate to all the personnel.

This can be done through a training seminar, the dissemination of an end of mission report via an intranet, the publication of an article, etc.

Now, let’s discover some areas of consulting work.

5 areas of intervention for business consulting

Business leaders need advice in several areas. Among these, we can note:

Communication and marketing

Consulting helps business leaders implement effective communication and marketing tactics. He supports them in projects such as:

  • market research;
  • the design and launch of a new product;
  • identification of new niches;
  • highlighting the company’s expertise;
  • evaluation of the company’s sales force and its improvement;
  • etc.

Commercial development on a national or international level

In a highly competitive environment, increasing your turnover is a necessity. Business consulting specialists therefore work with managers to help them develop their business activities nationally and internationally.

This type of consulting assignment generally revolves around:

  • the evaluation of the commercial positioning of the company;
  • training of sales teams;
  • optimization of sales support materials;
  • improving business proposals and sales pitches;
  • the establishment of an efficient commercial management model;
  • feasibility studies for international projects;
  • the implementation of an export sales strategy;
  • analysis of market behavior;
  • competitive analysis;
  • etc.

Human resources management

Human capital is one of the most important resources for the growth of a business. Even if you have the best technology or the best products in the world, without qualify and commit staff, your business will not thrive. Its mismanagement will therefore have consequences such as:

  • repeat absences;
  • delays in turnaround times;
  • neglect at the work level;
  • internal conflicts;
  • etc.

The support of HR experts will therefore be very useful in helping managers recruit, retain and motivate their employees in order to achieve their objectives.

This support could also take into account the management of relations with the various social actors.

Digital transformation

Any company that wants to go digital or that encounters difficulties in this process needs the expertise of a consultant in the matter. The latter will help managers to make a success of this digital shift and to achieve the following objectives:

  • the transformation of work processes within the company to boost productivity and increase profitability.

This transformation could lead to a re-profiling of the economic model and to major changes in products and services;

  • improving the customer experience to build loyalty and develop the customer portfolio;
  • the creation of content and the implementation of an effective strategy to promote it and improve the company’s reputation on the web.

Videos, product sheets, customer experiences… everything is done to professionalize the company’s web presence.

Management and business organization

Choose a consulting firm

Management and business organization are among the activities that fall within the scope of business consulting. Indeed, every manager has the challenge of mobilizing all the players in his company in order to achieve his objectives.

In this regard, the management and business organization consultant will help him to:

  • define or redefine its target vision;
  • put in place an appropriate action plan;
  • establish work processes and an appropriate organization;
  • lead the structural transformations necessary to achieve the vision.

But how do you choose a consulting firm? The answer is the following!

Business consulting: how to choose a consulting firm?

There are several firms of different sizes on the market that specialize in business consulting. They are suitable for large companies as well as very small businesses and have consultants in their teams who are experts in one or more fields. To choose yours, take the following 5 criteria into account:

  • reputation: do a little investigation of the firm and ask for its references to see if issues similar to yours have been previously resolving;
  • the quality of listening: you will be able to get a precise idea of ​​this during the initial contact phase. The cabinet, which you choose, should be in an active listening posture. He should not impose his vision on you without even listening to your needs.

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  • the commercial proposal: must be clear and relevant in both form and substance. The firm must be creative and think outside the box of school theories for solutions that are truly adapt to your situation. The business proposal must also contain fix lead times;
  • qualification of experts: the firm’s consultants should not be mere generalists. They must have real expertise on your problem;
  • your budget: the price of the service would ideally be in line with your budget. But above all, avoid firms whose price list is much lower than that of the market.

In addition, to secure your investment, it would be interesting to choose a firm that takes a share of contractual responsibility for the achievement of objectives.

There you have it, you now know a lot more about business consulting.

Brilliantly

SAFE!

2022
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Wednesday, 06th July 2022
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