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Click here to ask a Strategy Consulting question or share your experiences. Introduction The retention by a client of an experienced strategic planning consultant will be pivotal to the medium to long term commercial success of an organization. Strategic planning is driven at the highest levels of an organization, usually formulated by a board of directors with input from expert third parties and executed by the executives.
These are the men and women who strategic planning consultants work with. Review the Strategy Consulting questions and contributions from other visitors to this page.
The plan will include clear direction on the strategic objectives of the organization covering areas such as: Which markets will a company operate in?
Which products will be offered to the market? Which customers will be targeted? As such, the development and application of the strategic plan is the preserve of the sharpest and most experienced business minds - enter the strategic planning consultant.
The strategic planning consultant is called into the executive boardroom to help corporate leaders map out a direction for their company.
To successfully operate in this niche takes decades of business experience. The strategic plan will be formulated within a given framework of corporate policies and procedures and against economic and regulatory backdrops. The process requires a blend of skills: Relentless focus on clarity of corporate objectives Vision and imagination to consider and select the most appropriate approaches to achieve these objectives Pragmatic planning and organization skills to create the financial, risk management and operational plans that will organize and focus the resources needed to execute the strategic plan Proven experience in business model design to be able to give clear direction on the blueprint for the business that will be required in order that the strategy can be realized and the year business plans achieved Strategic planning consultants will typically call on a range of individuals to bring supplementary expertise with depth of experience in particular areas for example: From the assessments made as a result of the analyses, the business strategy consultant formulates the objectives, both tactically and strategically.
Once the plan has been stabilized and baselined, the consultant works with the executive team on an ongoing basis to implement the strategic plan and manage amendments, usually at specified intervals for example quarterly or annually.
Top Skills of the Strategic Planning Consultant The skills requirements of a strategic consultant are extremely high because of the complexity involved in formulating an effective long term plan that will enable an organization to achieve its stated goals and objectives.
As a guide, in order to be able to operate with credibility with the leadership teams of large organizations, whether public or private sector, the strategic planning consultant will be expected to possess, at minimum, some or all of the following experience depending on the client brief: At the same time, many corporations are in need of specialized knowledge in the strategic planning arena and look towards the small pool of experienced advisors for help.
Not surprisingly, consulting fees in this area of work tend towards the higher end of the spectrum. Furthermore, given the commercially sensitive and business critical nature of organizational strategy, it is likely that a consulting firm or individual will be retained under contract by the client for a long period, perhaps three to five years and also during that period prevented from working on strategy related assignments for businesses that are in competition with the client.
Strategy consultants with the right experience and knowledge are in demand across every major industry sector on a global scale, providing travel opportunities and the chance to broaden experience and further hone skills.
In addition, your network of professional and corporate contacts will benefit greatly from exposure at this senior level and the financial rewards are likely to be substantial.
Top Rewards for Strategic Planning Consultants Technically, there is no ceiling to the rewards available to the business strategy consultant. You are only limited by your experience, knowledge and contacts. These fees can be supplemented quite substantially if you hire other experienced, niche consultants to contribute specialist insights.
It is all within your reach given the right experience, knowledge, and drive. There are also the non-monetary rewards: The potential in this field is great and very exciting. Conclusion If you have been operating at the highest levels in large corporate or public sector entities, you will probably already possess the majority of skills and experience that will be required to operate with credibility as a strategy consultant.
The demand for skilled consultants is likely to remain high. Competition will be fierce, although the absolute number of credible competitors will be relatively low. Since the formulation of business strategy planning is an ongoing and evolving process, your consulting services will be required for a long time to keep the plan current and the organization on track.
Just think of what that means for you and your consulting career. Strategy Consulting - Questions or Opinions? Are you contemplating starting a business as a Strategy Consultant?The strategic planning consultant first analyzes an organization's current business practices, both internal and with its customers and suppliers.
From the assessments made as a result of the analyses, the business strategy consultant formulates the objectives, both tactically and strategically.
Strategy Consultants work in a variety of organizations and are responsible for advising managers and clients. Common work activities listed on a Strategy Consultant resume are developing business strategies, discussing project requirements, analyzing organization objectives, solving technical issues, and attending meetings.
Research the requirements to become a business strategy consultant. Learn about the job description, and read the step-by-step process to start a .
Charles E. “Ted” Herget, Jr. Principal. Ted is Co-Founder and Principal in the Hunt Valley headquarters of Asset Strategy Consultants. For over 30 years, he has been a consultant to qualified retirement plans, endowments and foundations, and corporate insurance reserves on investment strategy and the selection and monitoring of investment managers.
Sep 24, · A Strategy Consultant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $, based on salaries.
The Senior Planning & Strategy Consultant will have responsibility for managing business partner relationships (including Sales, Sales Support and Regional Technical Consultants) to support common goals and build productive, efficient partnerships.