Consultancy
Consultancy is a service where expert advice are provided in the areas of business interests such as security (electronic or physical), management, accountancy, law (tax law, in particular), human resources, marketing (and public relations), finance, Engineering, construction and many other specialized fields.
Consultancy agencies offer services and guidance related to any area against payment. This is primarily a particular type of service which is offered under a contract for services, separated from other contracts by the nature of the work carried out like medical, legal and IT consultancy. Nevertheless consulting firms have their specialized sectors that they render services for considering the expertise and experience that this field commands.
Types of Consultancy services
There are several different types of consulting in the market namely Management Consulting; Strategy Consulting; Human Resources Consulting; IT consulting; Corporate Finance & Financial Advisory; Consultant Engineers; Marketing Consulting; Consulting in Politics and the Public Sector; Real Estate Consulting. Each type has its own focus, knowledge, and techniques. Management Consulting: This service is specialized in offering companies and start-ups with expertise in setup and development, operations, finance, economics, market analysis, marketing, and branding. Management consultation can range from one consultant donning many hats in a small scenario to a diverse team in a large one. A management consultant is mainly aimed on developing strategies and fine-tuning them both for the requirements of the business and the individual demands of the team.
Strategy Consulting
It is one of the core components of management consulting services. In small- to mid-size scenarios, both the strategy consultant and the management consultant will often be one in the same, while in large business scenarios, the management consultation team will mostly include a specialized strategy consultant.
HR Consulting (Human Resources consulting)
This is also a key component of management consulting, but it has expanded into its own specialization to meet the more complex and specialized businesses demands. There is a great deal of overlap between in the services provided by firms specializing in HR consulting, IT consulting, and management consulting.
IT Consulting
It offers businesses with the tools essential to best leverage information technology, as well as provide experience and advice. On behalf of the company, an IT consultant will often implement, deploy, and administer IT systems.
Corporate Finance
With corporate finance consulting, start-ups, small businesses and public traded companies are able to achieve the perfect financing structure with the right mixture of debt and equity.
Engineering Consulting
Provides value creating knowledge in different industries. Its main areas include production as well as the construction sector. These industries account for a major stake of the economy.
Marketing Consulting
Marketing consulting with its deep knowledge and a solid experience in how to plan an optimal marketing mix, help firms to sell their products and services.
Politics and Public Sector Consulting
In the recent years, consulting in politics and the public sector has become an important market for consulting services.
Real Estate Consulting
Real estate consulting renders various services and assist in acquiring and selling property. It also helps to develop real estate construction projects e.g. Specialized tenancy solutions.
Construction Consulting
Construction consulting is a specialized form of business consultation, which concentrates on all forms of construction, most notably building construction.
Government Consulting
Government consulting is a diverse form of consultation. Firms that offer these types of consultation services are often highly specialized and focused as the consulting required by governments is far more elaborate than the consulting demanded in the business sector. Governments also take advantage of consultation services, like for security and war-related strategies, which are not required in the business world. The needs of a civil agency are much different from the needs of a law enforcement agency.
Besides this, there are consulting firms who specialize in interfacing with governments around the world and offer these services to businesses.Governments also hire consulting firms to act as liaisons between them and businesses in the private sector. Often government agencies have business contracts with these businesses. Prime examples of these contracts are the defense contracts between manufacturers and a country’s military.