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A business consultant (from Latin consultare, "to discuss") is a professional who provides professional or expert advice [1] or service in a particular area such as security (electronic or physical), management, accountancy, law, human resources, marketing (and public relations), financial control, engineering, science, digital transformation, exit planning or any of many other specialized fields.
The following outline is provided as an overview of and topical guide to consulting: Consulting is the activity or business of giving expert assistance on a particular subject, notably to other professionals but also to the consumer market. The following outline provides a general overview of consulting.
A consulting firm's model of business may be compared to staffing, wherein the objective is to lower labour costs for clients for an intended result, or relative to an intended result or output, in order to charge for a profit margin for the consulting firm. Clients are looking to procure or purchase external help and assistance.
Management consulting grew with the rise of management, as a unique field of study. [1] One of the first management consulting firms was Arthur D. Little Inc., founded in 1886 as a partnership, and later incorporated in 1909. [9] Although Arthur D. Little later became a general management consultancy, it originally specialized in technical ...
In 2014, EY acquired global strategy consulting firm The Parthenon Group, gaining 350 consultants in its then-Transaction Advisory Services practice so that it could provide in-house strategy consulting services to its clients. The business unit has since been rebranded as EY-Parthenon and is one of the most selective strategy consultancies ...
Compared to contracting, consulting can be seen as being "in business in your own right", not controlled by your client, etc. placing a consultant "well outside" of e. g. IR35. [ 20 ] Alan Weiss provides 20 "factors" for consultants in the US (IRS), which are similar in other countries, to avoid or understand in terms of their business activity.
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He then went into business for himself with the sole proprietorship Roland Berger International Marketing Consultants. [11] One of his first assignments was to develop a new advertising concept for the tour operator Touropa. [12] [13] Over the years, the company's business shifted more and more from marketing to strategy consulting. [14]