A consulting firm is a business comprised of industry-specific experts who offer professional advice, guidance, and actionable solutions to businesses experiencing issues they can’t deal with in-house. Every company is bound to have problems; consulting firms are contracted to solve them. What does a consulting firm do?
Executives generally reach out to consulting firms to send industry-specific experts, known as consultants, to observe and analyze a company’s operations. Consultants offer guidance and actionable solutions to problems the organization may be having. Consulting firms tend to have specific focuses, and companies pay them to lend their expertise on problems that can’t be handled internally.
Consulting firms have a presence in virtually every industry. There are also firms specific to several different trades and practices, including finance, healthcare, advertising, engineering, architecture, technology, and even the public sector. Here a few examples of different kinds of consulting firms and what they do.