Consulting Firms and Mastering Business

Consulting firms or consulting companies are professional services from firms with experience or knowledge in a specific area, advising other companies, groups of companies, countries or organizations in general. In most cases these firms have participated in executive MBA programs to reach such point of expertise on the subject.

Strategic decisions and operational nature should be analyzed from a financial perspective to know what is the economic impact on the business. These decisions require a thorough analysis of its implications in all areas: economic structure, outcomes, optimal debt level, variation in liquidity and value creation for shareholders. At the most basic level, consulting firms must be able to make a sober and objective assessment of the financial situation and provide a feasibility analysis of projects and investments. Helpline provided by an independent professional partner (consultant) to an organization (client) that requests your support to: identify problems, propose suggestions for their solution and improve performance. Its the process that facilitates learning and change of the client organization.

Management consulting can be understood as a professional service or as a methodology for providing advice and practical help. It is unquestionable that it has been transformed into a specific sector of professional activity and should be treated as a market. Simultaneously, it is also a method to cooperate with organizations and management personnel in improving management and industry practices.

Consultancy is essentially service-intensive and requires accurate advice, not a contract to perform a task in itself. This means that consultants are not hired to lead organizations or take difficult decisions on behalf of management. They are advisors and do not have any direct authority to decide and apply changes. By consulting process we mean any way to provide help on the content, process or structure of a task or set of tasks. The consultant is not actually responsible for the execution of the task itself but helps those who are. He acts as a consultant whenever it comes to change or improving a situation, but without direct control over the implementation. The only answer is the quality and integrity of their advice as the client assumes all liability arising from the application of their advice.

There are many variations for the consulting practice and degrees of expertise. The basic practice and art of a consultant is not only in giving the right advice, but giving it properly, to the right person at the right time. The client, in turn, must learn to seek and skillfully use the consultant’s advice.

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