What does a strategy consultant do
Strategy Advisor - Definition
Kraus & Partner - Lexicon - economic terms simply explained
Definition and explanation of the management term "strategy consultant":Strategy consultant support the decision-makers in companies to develop and implement the necessary strategies and concepts in order to ensure the success of the companies in their market in the short, medium and long term - in dialogue with those responsible in the company.
Strategy consultant anticipate the futureThe strategy consulting is considered the supreme discipline in the consulting business - among other things because the focus is always on the future of the company or organization. Strategy consultant
- review the business models of companies and develop them further or new and
- Based on this, we design concepts and measures with which companies can achieve their medium and long-term (earnings and development) goals - always in dialogue with those responsible in the company.
- the expectations regarding the corporate environment (e.g. market, technology, competition, legal framework),
- the company's objectives (e.g. market position, return on investment, shareholder value) and
- a realistic assessment of the resources (e.g. finances, strengths / competencies, development opportunities) that the company has based on its history and current market position,
Strategy consultant: Rational Analysts and Visionary ThinkersStrategy consulting and development is a process of collecting, analyzing and interpreting data and facts in order to generate new information based on the knowledge gained in this way. The intuition resulting from experience also plays an important role here. This continues with the Strategy consultantn a broad bundle of professional skills and experience (e.g. industry, market experience).
Strategy consultant are often specializedThe companies face different strategic tasks at their various levels, which they have to process and solve in their minds. These require of theirs Strategy consultantn also specific knowledge and experience.
That is why many have Strategy consultant For example, specialized in developing the following types of strategies:
- Corporate strategy; Contents include: Core values of the company, company vision, business areas
- Business strategy; Content a.o. (derived from the corporate strategy) Positioning of the business unit, technology development, product development, market cultivation
- Functional strategy; Content a.o. (derived from the corporate and business strategy) Price strategy, service strategy, quality, process, project management
Strategy consultant need a large "tool case"In the course of time, various strategy schools have developed, all of which have their justification depending on the respective client and the challenge they are facing. Regardless of which strategy school you choose Strategy consultant preferred, however, he should have a large "tool case".
Methods and tools that Strategy consultant are often used for developing a business model and corporate strategy, including:
- SWOT analysis: In the SWOT analysis, internal strengths and weaknesses and external opportunities and risks are identified and compared using a matrix. Then an attempt is made to develop the strengths and opportunities and to minimize the weaknesses and risks.
- Balanced Scorecard: The balanced scorecard is a measurement and control instrument which, in addition to financial key figures, also considers the customer, process, and learning and development perspective. It is the link between strategy development and implementation.
- Porter's 5 forces: Five Forces is based on the knowledge that competition in an industry depends on five factors that determine the profit potential and the position of an organization: Potential newcomers, bargaining power of customers, bargaining power of suppliers, threats from substitutes and competition between existing companies.
- BCG matrix: The business field or portfolio matrix was developed by the Boston Consulting Group (BCG) and graphically depicts the overall competitive situation of a portfolio of a company's business fields as well as the relationship between the product life cycle and the profit experience curve.
- McKinsey portfolio: Better known as Market Attractiveness-Competitive Strength Portfolio. The core idea is to derive standard strategies for strategic management based on the two variables of market attractiveness and relative market advantage. Depending on the characteristics of these variables, the examined object is placed in one of the nine fields.
- McKinsey's 7-S concept: Behind this is the basic knowledge that a company is more than just its structure. A company is influenced by seven core variables that are decisive for the design of the company and offer starting points for interventions. The variables are divided into “hard facts” and “soft facts”.
Strategy consultant moderate the decision-making processStrategy consulting in companies is always geared towards the future. However, the future is not yet the present. A corresponding number of assumptions about how the future will look are incorporated into the strategy development. This has to be verified as far as possible so that the strategy is sustainable. The development of (future) scenarios also plays an important role here, which must then be evaluated in order to then decide on an option. Strategy consultant often moderate the associated opinion-forming and decision-making process in companies.
Strategy consultant need a strong "backbone"Those responsible for strategy development in the company are usually the top internal decision-makers. They usually have a very strong ego due to their biography and position in the organization. Therefore, external Strategy consultant Due to their professional biography they also have a certain excellence so that they are accepted by the top decision-makers as a source of inspiration and advice
You should also have a strong "backbone", as deciding on one strategic option is always linked to giving up other strategic options. In addition: Achieving strategic goals is often associated with the necessity of leaving the comfort zone as a person and / or organization and making painful follow-up decisions. Accordingly, the strategic options are often discussed controversially in the decision-making bodies. Therefore must Strategy consultant also have a strong standing as a person.
Strategy advice from K&PThe Strategy consultant of the management consultancy Dr. Kraus & Partner support companies in the (further) development of their strategy; also derive the resulting follow-up decisions. In addition, K&P consultants and trainers impart the necessary know-how and skills to their executives and employees - e.g. in training and coaching - to implement the strategy and fill it with life.
K&P consultant video: The most important strategy schools
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