
Strategy Consulting Overview
Strategy consultants help organizations improve their performance by analyzing their current strategies and suggesting ways to enhance their competitive advantage. They work closely with senior management to identify growth opportunities, streamline operations, and develop long-term strategies.
Core Responsibilities of Strategy Consultants
Strategy Formulation
Strategy formulation involves determining the best course of action to achieve an organization's objectives. It involves defining the organization's long-term aspirations and establishing specific, measurable targets to guide decision-making. Consultants must make a detailed plan of action, which includes resource allocation and timeline
Market Analysis
Market analysis includes evaluating the external environment in which the organization operates to identify market trends, opportunities, and potential threats. Consultants should evaluate the market size, the growth, and the market segmentation, such as the distinct groups that make up the overall market. Consultants should also analyze the strengths and weaknesses of the competitors and what they can do best for the firm to meet the needs and preferences of the customers.
Competitive Analysis
Strategy consultants engage in a competitive analysis which focuses on understanding the competitive landscape in which an organization operates. This process includes identifying direct and indirect competitors in the market, analyzing different competitor strategies, and the barriers to entry for new entrants.
Strategic Planning
Strategy consultants often create a process which defines the organizations strategy and how to allocate resources to implement it. They must create detailed plans of action for the organization to succeed and how to budget, add personnel, and technology to support the strategy. After the creation of the strategy, they monitor the progress towards goals and adjusting the strategy as needed.
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What Does the Process Look Like?
Partnering with the firm (1-2 weeks)
The consulting firm meets with the client to understand their organization objectives, the scope of the project, and define the project plan and overall timeline.
02
Research and Analysis (2-4 weeks)
The consulting team conducts research and analysis to gather data on their client's industry, market, competitors, and on their internal operations. Consultants typically do this by conducting interviews, surveys, data analysis, and broad market research.
03
Strategy Formulation (2-4 weeks)
04
Client Presentation and feedback (1-3 weeks)
By using the research and analysis, the strategy consulting team works to develop a comprehensive strategy for their clients. Formulating a strategy includes defined goals, objectives, and identification of strategic initiatives.
The consulting team often presents the strategy to the client and gathers feedback. Gaining feedback often involves multiple iterations as the strategy is often refined on client input to cater to the clients needs
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Implementation Support (Ongoing)
05
Finalization and Documentation (1-2 weeks)
THe consulting team finalizes the strategy based on the feedack and prepares a detailed report which documents the strategy, recommendations, and the final implementation plan.
Depending on the original agreement the consulting firm has with the clients, many strategy consultants provide ongoing support to help implement the strategy. This may include tracking the progress by different key performance indicators, providing guidance, and pivoting the strategy as needed.
Strategy Consulting vs Management Consulting

Strategy Consulting and Management Consulting often times get bundled together into the broader umbrella of consulting.
They have many similarities in relation to client interaction, the projects they undertake, and the initiatives.
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The main difference is that Strategy Consulting focuses more on long-term planning and the big-picture thinking of the organization, while Management Consulting is specific project focused.
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Strategy Consultants often develop very high-level recommendations which is crucial for organizations