Consulting

Consulting is a job in which a professional or some kind of expert is hired for the role of giving advice. However, not all consulting jobs are created equal. Some require more work in less time, less resource to work with, or even more output for less input. Most consulting jobs are contractual based mainly because it’s rather expensive to keep a consultant on hand and it’s not always necessary to have one at that time and place.

What I will discuss here about consulting is how to approach the case or problem. There is some discretion however as this is biased to what I have learned in the classroom and experience as well as my way of thinking.

Step 1: Identify the company on a macro or external scale
The first step in consulting is to know where and what industry the company is including its competitive position. This entails using the PESTLE analysis (I.e. Political, economic, social, technological, legal, and environmental). Some would argue knowing the the company from the inside first, but I prefer knowing what my industry is like and adjust my business strategy around it as you cannot change government policies or economic downturns.

What you may need:
Pestle analysis
Market share and volume
Competitive analysis
Demographic trends

Step 2: Identify the company on a micro or internal scale
This means to find out the company itself and by that the company’s goals, abilities, strengths, weaknesses and the limits that can affect revenues or production.

What you need:
Swot analysis
Maximum production, capacity, financial leverage
Financial analysis
Bottlenecks or lead times in production or no value added activities (scheduling, moving, shipping, etc?)

Step 3: alignment of goals and strategy
What is the company’s vision? This relates to what the company wants in response to customers using their product, service, or a culture it intends to promote.

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