What is Management Consulting?

Management consulting is the practice of helping an organization in improving its performance. Many organizations draw upon the skills of a management consultant for a variety of reasons. The primary reason why organizations enter into contracts with management consultants are that, with exposure to numerous organizations the consultants are aware of industry best practices which allows them to provide the best possible advice for that specific firm. The consultants apply their general knowledge from a variety of fields to a specific problem for the firm which has hired them.

Various consultancies provide assistance to firms in the field of organizational change management, creation of coaching skills, analysis of firm processes, implementation of new technology, development of strategy and operational improvement.

Management consultants also develop their own proprietary methodologies and frameworks to help guide in the identification of problems, and these also serve as the basis for their recommendations, which help companies improve their performance and develop more effective and efficient ways of performing work tasks.