Management consulting involves providing expert advice to organizations to improve their overall efficiency and address specific business challenges. Management consultants work with companies to analyze their operations, develop strategies and implement solutions that drive growth, increase efficiency and achieve strategic goals. The role of a management consultant is multifaceted, encompassing different phases and activities to deliver value to its clients.
The consulting process usually begins with the initial engagement phase, where consultants meet with the client to understand their needs and goals. This phase often involves conversations about the client's challenges, goals, and the context of their business environment. Consultants can also conduct preliminary assessments to assess project scope and define terms of engagement, including deliverables, timelines and costs.