The development of the consultancy industry is closely tied to the developments of the global economy. In times of flourishing economic conditions, organizations enjoy higher revenues and budgets, a setting which paves the way for higher spending on consultants. Vice versa, economic downturns typically see organizations shrink their spending behavior, which leads to budget cuts of, among, others, consulting expenditures. However, with reduction in resources, organizations have been looking to outsource at a greater rate than ever. Whether boom or recession – clients will always need expert advice to manage their growth or to restructure their business in a declining market.

Consultants bring a unique perspective to an organization. Unencumbered by organizational cultural norms, internal politics, historical strategies and tactics, the consultant can often bring a fresh “out of the box view” to an organization’s needs, whether from a more functional aspect such as IT, Financial or Operations; or from a broader strategic and management aspect in areas such as Post-Merger Integration, Growth Strategy,  Business Diagnostics, Private Equity Due Diligence, M&A Due Diligence, Cost-Reduction, Organizational Design, Customer Acquisition/Retention and Churn.

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Consultancy can bring the perspectives and learning from numerous industries to set new direction or tactics for an organization in some completely different sectors. As a consultant this implies the need to be prepared to provide newly needed services. To adopt latest trends in technology and the economy often more quickly than my clients.  This creates on ongoing need for consulting services and as such there will be a shift from traditional advice to being a part of implementation.

As organizational change occurs, so does the need for consultancy to change with incorporating a mindset of not only advising, but “doing”. In this sense the need for executives that have “actually” defined and implemented programs, strategies and tactics as a part of an organization will be more valued and sought after by clients.

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