Business Consultation-What is it

(Ph.D in Business Administration)

Your PersonalConsultant

Business Consultation is a profession whose purpose is to support the business conduct of the service seeker.

The Business Consultation is based on a number of basic professions, and it consists of various types of expertise.

During the life of a person and due to the almost infinite variety of situations or areas in which he finds himself or which he encounters, and in order to solve his diverse problems, he needs support in areas which he is unfamiliar with, which he was not trained for, etc.  This is when this man / woman contact the relevant expert: A medical consultant (a physician), a financial consultant, a legal consultant, etc.

In the world in which we live today, where the knowhow reaches the maximum in every area, it is not enough for a person to be engaged in his profession, but he is required to have expertise in a certain area / certain areas of that profession.

It is not enough for a person to be a physician.  Today, the physician is expected to have expertise, and his services are rendered in the field of his expertise: Heart, lungs, blood vessels, endocrinology, etc.

The same applies for the attorney, the plumber, the electrician, etc.

The same also in the area of Business Consultation, which is derived from the areas of economy, engineering, business administration, statistics, taxation, etc.

THE MAIN AND MOST KNOWN TYPES OF EXPERTISE IN THE FIELD OF BUSINESS CONSULTATION ARE:

  • Business planning (including building a business plan)
  • Analysis (research): Intra-business and branch-related research
  • Strategic planning
  • Tactical planning
  • Local marketing
  • International marketing
  • Financing (Control of capital, raising funds, calculations in the field)
  • Planning of timetables (GANTT) – actions on the timeline
  • Planning of budget
  • Organizational construction
  • Recovery of businesses
  • Business development
  • Business accompaniment (periodic or continuous)
  • Training and guidance of the managers of the organization
  • Planning according to considerations of taxation

WHAT IS REQUIRED FROM A BUSINESS CONSULTANT?

  • Professional knowhow, experience, a network system with relevant consultants in other fields – to complete the business consultation (legal, accounting, taxation-related)
  • Patience, studying and understanding the business which requires the consultation
  • Studying the field of the business, in general, compared to the business which requires the consultation
  • Figuring out the nature of the consultee and tailoring the consultation to the character of the consultee
  • To always remember that the destiny of the business was placed in his hands and it is his responsibility to act in trusteeship toward the success of his client / clients while utilizing all the knowhow and the connections he has.

IN CONCLUSION:

The good business consultant will always aspire that in the equation of cost against benefit, the result will usually be: Minimum cost compared to maximum benefit.