Consultancy Links - Types of Consultancy

Types of Consultancy Firm

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There is no such thing as a 'typical' management consultancy firm, with companies varying enormously in terms of their size, concentration and specialist areas.

Some have greater focus on technology, others take a more pure strategy approach.

The Management Consultancy Association has identified six main types of consultancy business.

Generalist, which are the larger firms offering a wide range of services from strategy consulting and human resources to IT and outsourcing on a global basis. Many of these firms grew out of audit firms or IT companies.

Strategy consultants, which are often smaller than the generalist firms and offer strategic advice to companies on a project-by-project basis.

Human resource consultants which, as the name suggests, offer specialist HR advice on areas such as personnel policy, job evaluation and industrial relations.

Information technology consultancy firms, which offer specialist IT advice such as defining information needs, computer feasibility studies and making hardware evaluations.

Financial consultants, offering specialist advice including the installation of budgetary control systems, profit planning and capital and revenue budgeting.

Niche firms, which are often set up by an experienced consultant with an area of expertise; these are smaller practices with up to 100 consultants, specialising in particular industry or business sectors.