The Roles of a Strategy Consultant

Business leaders face tough questions about business strategy on a daily basis. Strategy questions can range from those about a company’s fiscal wellbeing to those about its overall advertising strategy. Even the most experienced of business leaders can find themselves bogged down by difficult strategy decisions. When executives find themselves at a loss as to strategy development, they often turn to <em>strategy consultants</em>, who provide a wide range of valuable services to businesses.

What Do Strategy Consultants Do?

In the broadest terms, strategy consultants are responsible for evaluating business practices and suggesting strategies that will increase business or brand strength. One of the most famous strategy consultants in the world is Canadian advertising executive Jacques Bouchard. In his role as an advertising consultant, Bouchard helped many Canadian businesses raise their profits and improve their public images.

Strategy consultants are able to focus on the overall business picture. They bring insights from their professional experience to bear on the varied situations that their client businesses face. Most strategy consultants specialize in a given area such as finance, advertising or product development. They are responsible for evaluating a business’s operations in their area of expertise and for recommending strategies to boost business success.

Some strategy consultants oversee the implementation of strategic plans at client businesses. In this capacity, they may be responsible for providing education to employees about new business systems or protocols. Strategy consultants are also able to track the long-term success of their strategies and total business return on investment (ROI).

Why Do Businesses Hire Strategy Consultants?

Many business leaders struggle with the decision to hire a strategy consultant. Hiring such consultants can be pricey, especially for small business owners who are already suffering in a tough economy. However, the benefits gained from hiring a strategy consultant almost always outweigh the costs incurred from hiring the consultant.

First and foremost, a strategy consultant can help executives streamline business processes and improve the overall efficiency of their enterprises. Strategy consultants can also focus on business problems that distract overburdened employees. By doing so, consultants free up employees to concentrate on their jobs.

Whether a business needs marketing, financial or product development advice, hiring a strategy consultant is a wise choice. Such consultants possess a breadth of experience in their field of expertise. They are able to provide businesses with solutions and strategies that can lead to significant economic gains.