Summary: Every organization will require the services of a consulting firm. The advisory services fall into four categories: Organizational, Technological, Financial, and Communications.
Most businesses will require the guidance of a consulting firm at some point in time. Large consulting firms will offer a wide variety of consultants, while boutique consulting firms will only specialize in one category.
However, most businesses will realize that the consultant they choose will have to have a general knowledge of other areas because business decisions or strategies intertwine with other departments. For example, construction advisory services offer consultants that advise on construction and finance. Here are four types of advisory services explained.
Organization – Advisors in this category will identify the strengths and weaknesses of an organization. The process will involve creating strategies and human centered solutions that help the business perform in a market that is constantly changing.
Technology – Advisors in this category will refresh business thinking to support new business processes and assistance in using cutting edge technologies.
Finance – Consultants in this area will help to raise funds, negotiate contracts and increase investments as well as invest in research and claim tax and credit.
Communication – Communication is the key to business success as market research, marketing, branding, advertising and public relations have become crucial to reach the younger market. Consultants in this category will assist in using new methods of communication to reach niche and current markets more effectively.