The Consulting Industry (4 Areas)
Many businesses hire consultants to solve specific problems. These problems can range from payroll and accounting, to outsourcing and supply chain management. The 4 main areas of the consulting industry area
- Industry Specific Consulting
- Strategy Consulting
- IT Consulting
- Management Consulting
Industry specific consulting involves focusing in on a specific industry, and it can incorporate all the other areas of consulting including IT and strategy. Many times by focusing in on one industry it is easier to be seen as an expert.
Strategy consulting involves focusing on the growth or organization of a company. For example many fast growing IT companies like to hire strategy consultants to help guide them through their rapid growth phase. This consultants are also good at reorganizing large companies, and in times like these, cutting payroll.
Information technology consulting focuses on how to use computers, networks, and other electronic equipment to make the company more efficient. Many electronic companies usually offer consulting services as an add on service to their equipment sales.
Management consulting focuses on how the company gets things done. This generally incorporates all other forms of consulting. Management consultants are often brought in to refine processes.
Summary
These are 4 areas of the consulting industry. This is a very broad and basic way of breaking down a complex and ever changing industry but at least we can at least get our hands around it now.
If you are starting out as a consultant I would recommend to focus on a narrow niche. It is much easier to be viewed as an expert quicker and it is easier to stay on top of new developments in your industry.
