BCG - The Boston Consulting Group

Should an automotive manufacturer acquire its biggest competitor? How can a large pharmaceutical company achieve major cost savings in its global supply chain? What is the most effective way for a leading financial-services player to significantly expand its retail-banking business? Should a technology firm offshore some, most, or all of its R&D function? High-level, strategic questions such as these defy easy answers and textbook solutions, particularly in today's complex business environment. Yet they are the types of questions that strategy consultants are called upon by clients to answer. And clients expect more than simply an accurate diagnosis of the problem: they want a practical, effective path to implement—one that can generate real bottom-line results and sustainable competitive advantage. This is the world of strategy consulting. Welcome to the world of BCG.

Personal Growth Stories Scott Project Leader Toronto Aaron Consultant Dallas Daniel Partner & Managing Director Madrid Neal Consultant New York Volker Principal Dubai

Who Are the Clients?

In theory, any business can use a strategy consulting firm. But the majority of organizations that do so are large to very large businesses that have national or, in many cases, global operations. These companies come from virtually all industries—including financial services, manufacturing, consumer goods and retail, energy, technology, telecommunications, and health care. Government agencies and nonprofit organizations are also frequent clients of strategy consulting firms.

The Value of Strategy Consulting to Clients

Strategy consultants bring two attractive sets of capabilities to their clients. The first is specific expertise and experience. A business might, for example, find itself wondering which strategy to adopt to enter an attractive yet competitive market. A top strategy-consulting firm has likely guided any number of businesses through precisely that same decision and has accumulated a wealth of related knowledge along the way. Incorporating this knowledge and expertise in the decision-making process can be an invaluable resource to that business.

The second key attribute that strategy consulting firms offer these organizations is an independent perspective. Businesses often find themselves tied to particular approaches and ways of thinking. A consulting firm, which has no such biases, can bring a fresh point of view. Coupled with a rigorously analytical approach, strategy consultants can deliver innovative solutions to their clients' problems to make a significant impact.

What Does It Take to Become a Strategy Consultant?

By its nature, strategy consulting demands a range of attributes. These include intellectual curiosity, analytical rigor, creativity, empathy, the ability to communicate effectively, and the passion and desire to make a difference. If you meet these criteria and choose to pursue a career in strategy consulting, you could find yourself in one of the most challenging as well as personally and professionally rewarding occupations there are.