What is business consultancy?

Business consultants work with companies to enhance their productivity by offering professional

assistance to resolve problems and promote growth in industries such as energy, healthcare,
finance, non-profit etc. Business consultancy covers a larger wide variety of activities such as
strategy, market analysis, operations, finance, information technology, engineering or human
resources. The cycle contains series of phases: entry, contracting, diagnosis, data collection,
feedback, implementation, and so on.

1. Providing information to a client - attitude surveys, cost studies, feasibility studies, market
surveys, or analyses of the competitive structure of an industry or business.
2. Solving a client’s problems- Analysing the root cause of the problems faced by the client.
3. Effective Diagnosis- Examination of the external factors, technology and economics of the
business, and the behaviour of entry-level employees
4. Making recommendations- based on the diagnosis.
5. Implementing Changes - Assisting with implementation of solution.
6. Taking Corrective action
7. Facilitating client learning
8. Permanently improving organizational effectiveness.

Sources

Turner, A. N. (1982) ‘Consulting Is More Than Giving Advice’, Harvard Business Review, Sept 1982,
[online] available at: https://hbr.org/1982/09/consulting-is-more-than-giving-advice

https://www.youtube.com/watch?v=C6qlT9nO020

https://www.youtube.com/watch?v=QWqs2n2Tk5Y

https://www.youtube.com/watch?v=3wPeND2gvqc