7 March 2023

Why Companies Should Invest in Business Strategy Consultant

I was asked recently why after 20 years in business strategy, I never worked in restructuring with any of the big global consultancy firms.

I’ve been called the UAE’s top business coach recently, and I’m honoured by that. But what I really love is when I can make a significant impact in my client companies as a corporate strategist. It’s like coaching, but on steroids! In one company, I served 6 months as their interim Chief Strategy Officer and I added 11% to the balance sheet and 5% net profit during that time. In another company, I increased their employee engagement score by 13% in under 90 days.

External business strategists can see things that those in the company often can’t see. Organizations should invest in strategy consultants for a variety of reasons, including:

1. Fresh perspectives: Strategy Business Strategy Consultants bring a fresh perspective and new ideas to the table. They are not bound by the company’s history or culture and can provide an objective viewpoint. As the strategy retreat facilitator for Al Masaood Group, I was able to help the organization think through 4IR implications, and create 9 initiatives for adaptation, innovation, and disruption.

2. Expertise: Strategy consultants have specialized knowledge and expertise in strategy development, making them well equipped to help organizations navigate complex challenges and make informed decisions. In the Blue Rhine Group, I was able to design and implement the first B2B ecom platform in the GCC.

3. Access to best practices: Strategy consultants have access to best practices and insights from working with a range of organizations, allowing them to bring a wealth of knowledge and experience to the organization. In the Emirates Macaroni Company, I was able to restructure the entire company and fully professionalise the management for the first time.

4. Improved decision-making: Strategy consultants can help organizations make better decisions by providing data-driven insights, market analysis, and risk assessments. I helped an entrepreneur this week decide to close their business after accumulating losses of more than $5m. It was hard, but it set this leader free from their sunk cost bias.

5. Increased efficiency: Strategy consultants can help organizations streamline processes, reduce costs, and improve efficiency. Eliminating process steps and improving communications at Bizzmosis reflect some of my best methods for helping SMEs streamline their business models.

6. Better alignment: Strategy consultants can help organizations align their goals, strategies, and resources, ensuring that all stakeholders are working towards a common goal. When I facilitated the leadership retreat where we wrote the Vision, Mission, Values, and Goals for Meda’in Properties, it was the first time that the company had done that with all of the leaders involved in the process.

7. Improved communication: Strategy consultants can help organizations improve communication between departments and teams, facilitating better collaboration and decision-making. At ADEK I was able to help all of the departmental leaders communicate better by having them play games with each other.

8. Improved competitiveness: By working with strategy consultants, organizations can gain a competitive edge in their industry, helping them stay ahead of the curve and remain relevant in an ever-changing marketplace. I wrote a custom-researched sales strategy for Interel and trained their sales staff. It changed the game for them completely and gave them an edge over their competitors in negotiations.

9. Enhanced innovation: Strategy consultants can help organizations foster a culture of innovation, encouraging employees to think outside the box and come up with new and creative solutions. Coaching executives from AW Rostamani helped them think differently about how to create omni-talented teams and be more effective leaders.

10. Increased accountability: Strategy consultants can help organizations increase accountability and ensure that strategies are implemented and goals are met. Each and every one of my coaching clients count on me to follow up with them each week and hold them accountable every month to the goals they set for themselves. It’s amazing what accountability can accomplish.

Investing in a business strategy consultant or corporate strategist can bring numerous benefits to organizations, including improved decision-making, increased efficiency, better alignment, improved communication, enhanced competitiveness, and increased accountability. These benefits can help organizations achieve their goals and remain successful in the long term.

 

Article by: Dr. Corrie Block
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