A consulting firm or simply consultancy is a professional service firm that provides expert advice for a fee. Consulting firms can have one or thousands of employees; they may consult in a wide variety of fields, such as management, engineering, and so on. In particular, management consultants usually work with company executives and provide them with generalists and industry-specific specialists, commonly educated in management or business schools, known as subject-matter experts. A management consultant's deliverables are normally ideas for achieving a company target, leading to a company project.
Many consultancy companies accompany the advice, either by consultants or by technicians and other specialists, with implementation assistance. his is called externalization. Consulting services are part of the tertiary sector and account for annual sales of several hundred billion dollars. Advisory services segmentation varies widely across companies and nations. Categorization is uncertain, in part due to the upheavals that have occurred in recent years in this sector. One approach is to separate services into four broad service delivery families, considering the managers they are targeting. This includes services aligned with the overall strategy of the organization, addressed to the CEO, marketing, communication, sales, and public relations related services, addressed to the CMO, management-related services, financial management, taxes, accounting, regulatory enforcement, for the CFO, and company-related services, like information technology, for organizational management purposes, which can vary depending on the industrial sector (technology managers, plant managers, operations managers, research and development managers), such as COOs and CTOs.
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