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SCHULICH CONSULTING CLUB
INDUSTRY OVERVIEW
Consulting is a dynamic industry that works across various industries and many clients. On this page, we have outlined the various streams, or specializations, that you can go into if you choose to break into consulting.
Specializations include:
Brand
Brand consultants are responsible for assessing a company’s ability to deliver value to its customers and developing strategies for new and existing products. From analyzing logos and advertisements to pricing and placement, brand consultants transform small companies into a powerhouse. By utilizing metrics and conducting market research, consultants better understand customers, competitors, product needs, and market trends. Brand consultants ensure companies have a clear target group, effective methods in reaching the target group, and consistent internal company goals. By researching, collecting, and applying this information, a customer-focused brand strategy is built.
Companies that specialize in it
Business Transformation
Business transformation consultants work with organizations to prepare them for change. Not limited to anticipating and responding to inevitable changes from the external environment, business transformation consultants must also initiate change and become the major disruptor in the company’s industry. With a constantly improving mindset, business transformation consulting is about rethinking the way business is done. In today’s ever-changing business world, companies big and small are realizing the importance of an ongoing business transformation strategy.
Corporate and Business Unit Strategy
Corporate and Business Unit Strategy consulting primarily focuses on assisting corporations and businesses in creating, developing, and achieving goals and targets successfully. The role of a corporate and business unit strategy consultant consists of forming a strategy, to implementing the design. Responsibilities consist of strategic and scenario planning, optimization, competitive strategy, and new market entry. Beyond these tasks, corporate and business unit strategy consultants take on the next steps to execute the strategy, such as M&A strategy, cost reduction programs, and many more.
Companies that specialize in it
Companies that specialize in it
Financial
Financial consultants work with the finance function of a company to assist them in better understanding and making informed decisions. Financial consultants are tasked with increasing the value the finance function provides to the overall business. Working from industries like energy and mining to the healthcare public sector, financial consultants are present in a wide array of industries.
Human Capital
Human capital consultants strategically plan and design an organization to create lasting value. These consultants manage performance, professional development, and human resources. It is important to make sure the employee’s values align with the company’s in order to maximize performance. A human capital consultant takes every step possible to implement strategies to create a better organization. Some aspects include organizational design, change management, leadership development, talent development, and maintaining culture and diversity.
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Companies that specialize in it
Companies that specialize in it
Customer & Marketing
Customer & Marketing consulting consists of creating strategies to improve business opportunities and customer engagements by maintaining existing and attracting new clients. The role of a marketing consultant involves assessing the internal and external factors affecting the business, including customer satisfaction, market trends, customer needs, technological advancements, and environmental factors.
Sales
A sales consultant helps businesses look for potential clients and create different strategies to effectively sell products and services. As the bridge between the business and its customer, it is their responsibility to fully understand the firm’s offerings in order to maintain a strong and sustained relationship with clients. In essence, sales consultants significantly contribute to the business’ revenue and are vital to its success.
Strategy and Operations
Strategy & Operations consulting is the second subgroup of management consulting (human capital consulting being the other). Strategy consulting advises companies on high-level decisions using in-depth industry knowledge. Through analyzing industry trends and business practices, strategy consultants devise strategies to improve performance and revenue. In supporting the client by answering “What do we do now?” when encountering a difficult situation, strategy consultants take the company’s goals to maximize efficiency.
Supply Chain
Supply Chain consulting includes creating and promoting various supply chain consulting strategies in order for the company to attain successful and efficient business processes. The role of a supply chain consultant primarily consists of determining client needs, proposing improvements to methodology, as well as identifying client issues and concerns regarding their business processes.
Companies that specialize in it
Companies that specialize in it
Companies that specialize in it
Companies that specialize in it
Technology/IT
A technology consultant can expect to design business technology strategies, develop technology architecture and deliver enterprise applications. Aiming to solve business problems in the tech space, technology consultants provide advice on how to best use software and technology to benefit a business. Technology consulting is a thriving facet of consulting as many companies have started looking into how they can integrate technology.
Companies that specialize in it
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