By Yohan Albo
Strategy consulting is primarily geared towards providing unbiased strategic advice to a company’s board, CEO, and senior managers by leveraging deep industry knowledge and relevant analytical framework. Strategy consulting firms work across all industries, including both private and public sectors on a wide variety of problems.
Strategy consulting firms are hired by companies to make decisions that are essential to the future of the company in order to ensure that every perspective is assessed. In addition to providing unbiased advice, strategy consultants are able to commit themselves fulltime to their task, whereas a CEO and executive board members are often engrossed in the day-to-day operations of the company.
Strategy consulting firms will traditionally have the following model in dealing with a company:
1. Identify the problem and underlying issues
2. Research all credible options and solutions to the problem
3. Perform quantitatively each option’s benefits and trade-offs through mechanisms such as scenario analysis and sensitivity analysis
4. Recommend a solution and implementation strategy
For example, a company is contemplating whether to insource or outsource its operations relating to a new venture. The company then proceeds to hire a strategy consulting firm with deep industry knowledge to research its new venture. The strategy consulting firm then compiles a report detailing the costs and benefits of both options and proposes a solution to the issue based on its findings and how it can be implemented. More often than not a company will then adopt the advice of the strategy consulting firm but, although strongly encouraged, it is by no means forced to do so.
In some cases, strategy consulting firms can even serve a legal purpose. During the process of a merger, it is against the law to share information between the merging companies. Strategy consultants operate independently of these companies, and can, therefore, source information from both merging parties in order to have a strategy once the merger is officially complete.
In short, a strategy consultant is analogous to the role of a doctor in that it is incumbent upon a consultant, just like a doctor, to diagnose the problem and prescribe actions to remedy it.
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DataToCapital is a boutique management consulting firm that supports global tier-1 firms and start-up companies operating in Israel in their route to excellence and market dominance. Our core services, designed for CEOs, Executives (VP-level and above) and Entrepreneurs, can be divided into three areas: Market Intelligence, Corporate and Product Strategy, and Execution Support on top-down strategic initiatives.
The quality of the work we deliver in the three areas mentioned above is equivalent to what your company may already get from the top-3 consulting firms that operate in the Israeli market, BUT here’s the twist and why our tier-1 clients think we are superior.
We don’t only provide smart recommendations, we work closely with the management team and can also support driving the execution of their strategic initiatives behind the scenes or as a proxy.
We are at the strategic intersection of Business and Technology. Thanks to our rich background, we know how to connect the dots between the two worlds, and how to be very creative when it comes to disrupting business models or addressing sub-optimized processes with the help of advanced technological solutions (Machine Learning, Big Data, Data Visualization, Enterprise Software Solutions, and many other tools present in our toolbox).
This is a built-in feature.
No account manager, no complex communication chain, etc...
This is why our firm aims to dominate the management consulting market in Israel with no more than eight talents (...on steroids).
Our long-term vision is to become the trusted advisor to the most influential businesses and institutions operating in Israel, and help them become global leaders in their markets.