Management consulting (which comprises strategy consulting and operations consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the industry composed of firms that specialize in this sort of consulting. Management consulting may involve the identification and cross-fertilization of
best practices, analytical techniques,
change management and
coaching skills, technology implementations, strategy development, or operational improvement. Oftentimes management consultants also rely on their outsider's perspective to provide unbiased recommendations. Management consultants generally bring formal frameworks or
methodologies to identify problems or suggest more effective or
efficient ways of performing
business tasks.
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