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17 TYPES OF CONSULTING
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19th January 2022This is the simplest guide to understanding different types of consulting. In this article, things are as easy as possible for you to understand the types of consulting.
But first I would like to shed light on the importance of Consulting Services and how it is expected to grow in coming years.
The Global Consulting Industry was valued at 895 Billion USD in 2021 and the numbers do not seem to drop any time soon. As per the research conducted by Statista Research Department, the industry is expected to reach the size of 1.2 Trillion USD by 2025.
So if you want to:
-become a consultant but aren’t aware of the available options
-know about the in-demand types of consulting
-make problem-solving your full-time job
-get to know more people and organizations and help them out
Then you’ll love this guide. Let’s get started!
- 17 TYPES OF CONSULTING
- 1. Leadership Consulting
- 2. Marketing Consulting
- 3. Environmental Consulting
- 4. Ecommerce Consulting
- 5. Compliance Consulting
- 6. Retail Consulting
- 7. Management Consulting
- 8. Business Consulting
- 9. Digital Transformation Consulting
- 10. Strategy Consulting
- 11. Innovation Consulting
- 12. IT Consulting
- 13. Career Coaching and Consulting
- 14. Sales Consulting
- 15. Non-profit/Governance Consulting
- 16. Construction Consulting
- 17. Medical Research Consulting
- How to find the best consultants for your needs?
- Why should you work with an expert in their field, not just any consultant?
- Conclusion
1. Leadership Consulting
Leadership consulting is a business service that evaluates current management and supervisory practices and helps the company develop innate leadership skills in both managers and employees. To help a leader achieve corporate goals, leadership consultants employ a variety of specialized tools and methods.
2. Marketing Consulting
A marketing consultancy assesses a client’s existing marketing strategy, which includes their target audience, brand message, and market or industry presence. They will use metrics, data, and other relevant company data to figure out what’s working and what isn’t to develop a new marketing plan.
3. Environmental Consulting
Environmental consultants advise businesses on topics such as sustainability plans, green manufacturing, environmental disasters, hazardous waste disposal and cleaning, renewable energy, environmental compliance, and water, air, and soil quality.
4. Ecommerce Consulting
Ecommerce consulting is a widespread service due to obvious reasons. Ecommerce consultants examine a store, assess its position within a specific industry or market, and create an eCommerce strategy to promote it. Ecommerce consultants are in charge of monitoring the online business’ progress toward its objectives and revising the plan as needed.
5. Compliance Consulting
Compliance consulting refers to the consultants who are in charge of ensuring that your company follows all applicable legislation and operates legally. Compliance consulting includes coordination with the internal compliance team, revision and review of insurance policies, risk assessments, record management and analyzing policies and procedures.
6. Retail Consulting
A retail consulting service primarily assists store management in developing sales and revenue-boosting techniques. The idea is to boost sales by bringing more customers to the business and attracting them to specific products once they arrive. Promotions, merchandising, store design and location are important functions of retail consultants.
7. Management Consulting
Management consulting is a service that helps clients enhance the strategy, operational processes, and structure of their business management. Management consultants are used by companies for a variety of reasons, including getting external counselling and access to consultants’ specific management skills.
8. Business Consulting
Business Consulting Services are designed to meet a company’s full range of business requirements. Business consulting is commonly used during the early stages of a company’s development or when a period of expansion is anticipated. Business Consulting service provides professional assistance in security, business management, accounting, digital transformation, human resources, financial control, marketing, law, engineering, exit strategy, and other relevant fields.
9. Digital Transformation Consulting
Digital transformation consultancy is beneficial to businesses that want to learn new methods to use digital technology in their operations for innovation and long-term effects on their operational models. One of the most popular reasons companies hires digital transformation consultants is to get their products and services to market quicker with reduced risk.
10. Strategy Consulting
Strategic Consulting services are responsible to provide strategic advice and guidance to organizations. They involve conducting research into the problem at hand, identifying current and future possibilities and problems, and giving recommendations.
11. Innovation Consulting
In today’s fast-paced environment, innovation consulting is responsible for assisting businesses in solving challenges and adapting to change as smoothly as possible. Innovation consulting help with the design, engineering, marketing and invention aspects of the business.
12. IT Consulting
IT consulting focuses on advising businesses on the best ways to use information technology to achieve their goals. From IT strategy formulation through implementation, IT consulting helps with a business’ IT and digital transformation activities.
13. Career Coaching and Consulting
Career coaching and consulting act as an advisor for a business and assist their clients in resolving their short term and long term problems. Career counselling and coaching determines a client’s past experiences, facts and data, analyses them, and then recommends an appropriate future course of action.
14. Sales Consulting
A sales consultant applies their knowledge and experience to assist businesses in increasing sales by suggesting particular changes to their procedures and practices. Sales consultants with their experience can be vital for boosting the sales of complex, technical and customized products and services.
15. Non-profit/Governance Consulting
Non-profit/Governance Consulting can be defined as the process of giving strategic leadership to a not for profit organization. They set financial goals, assist with fundraising, aid in the growth and development, design a plan for unique product expansion, or assist in the creation of solutions for any challenges the nonprofit organization may face.
16. Construction Consulting
Construction consulting is the provision of advice and experience to real estate developers and investors or businesses simply interested in building a project. Construction Consultants help developers and investors enhance their performance in terms of profitability, operations, strategy, structure, management, and quality by providing construction-related advice.
17. Medical Research Consulting
Medical Research Consultants assist with product development and regulation. They provide advice on the most effective and efficient ways to deliver healthcare to pharmaceutical firms, health insurance companies, biotech start-ups, and governments.
How to find the best consultants for your needs?
The whole point of getting a consultant on board is to achieve your business goals, right? Now when you have learned about the various types of consulting you can be clearer on what you exactly looking for.
All consultants are specialized in a certain type of industry. Your main goal should be to look for a consultant who understands your business goals firstly, then only you can judge the capability of a consultant on whether he can be helpful for you or not.
Why should you work with an expert in their field, not just any consultant?
A consultant who is an expert within the field is just cherry on top and you should get them on board as quickly as you can. After all, they bring you an external view of your business needs with the kind of experience they have.
Small businesses face several days today stresses due to skill and time limitations. Hiring an expert who possesses expertise in a relevant field can prove to be of utmost importance.
Conclusion
The consulting industry is on a rise there’s no denying that. According to research, the number of consulting companies has increased significantly. There were around 600,000 consulting businesses in the United States in 2012 compared to over 982,000 in 2022.
Despite the challenge of competition, as per a research conducted by Statista Research Department, 42% of consulting companies consider the increasing competition in the industry a challenge for their business. Which is a clear indicator of growth within this industry.
Thank you for reading this article, make sure to check out more of our articles. Don’t forget to drop a comment on how you liked this information.
Frequently Asked Questions (FAQs)
What is a Big 5 consulting firm?
KPMG, Deloitte, Accenture, PwC and McKinsey & Company. And worldwide these are usually the names that come to mind when thinking about management consulting.
What are the different types of consulting models?
There are three primary models of business consulting: Expert, Doctor, and Process Consultation. Only one will leave your organization more capable of future self-development, more aware of its own operating system, more highly networked, and more oriented to a sense of ownership and accountability.
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