Strategy consulting, often referred to as strategy consultancy, strategic advisory or boardroom consulting, is regarded by the majority of consultants as the most ‘high-end’ and prestigious segments within the professional services industry. A strategy is defined as “a plan with the aim of realising long term goals”, and organisations regularly engage with strategy consultants to support them in developing and implementing business strategies. The strategy consulting domain focuses on supporting private sector clients with the development of corporate, organisational or functional strategies and helping public sector organisations and institutions with economic policy.
Strategy consulting market
In 2011, the market for strategic consulting services was estimated to be worth $26.5 billion. In the aftermath of the crisis years global growth was sluggish, slowed by the recovering US and European markets, which jointly represent the overlarge majority of the global consulting industry. From 2014 onwards, the strategy consulting industry picked up, with growth rates of 4.7% in 2015 and 5.8% in 2016, taking the market to just over $30 billion in 2016. Strategy consulting takes around a 12% cut of the overall industry, making it similar in size to HR consulting.
Strategy Consulting in Nigeria
What skills do we have?
As well as specific industry knowledge, there are many skills we possess in strategy consulting that make us different
- Analytical skills: The ability to collect and analyse large amounts of data, to assess problems and structure solutions and to present information at a range of levels. These skills are assessed in the famous case study interview, used in almost all consulting applications.
- People skills: Consulting is a client-focused industry and a lot of your time will be spent dealing with management in order to better understand the issues they’re facing. You need to be able to build relationships, be persuasive when necessary and know when to defer.
- Time management: Our Strategy consultants work to tight deadlines and missing them is not an option.
- Flexibity: Even once you’re an expert, there will be plenty more for you to learn. You need to always be aware of your own performance, finding ways to improve.