Strategy Consulting Firms
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INDUSTRY LEADING FIRMS

Strategy Consulting Firms: Gaining the Competitive Advantage

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Defining Strategies in Order to Define Success

 

If you surveyed some of the biggest names in consulting today, including Bain & Company, the Boston Consulting Group, McKinsey & Company, IBM and the Syntegrity Group, they would all highlight the importance of strategy when looking to gain the competitive advantage in the world of business.

 

But what exactly is meant by the term "strategy”?

 

Strategies are plans of action or policies designed to achieve a very particular end. In other words, when properly elaborated, strategies can help organizations to develop and meet goals related to such diverse things as launching a new product, complying with newly outlined regulations, and achieving sustainable growth.

 

Like blueprints, strategies provide a customized and evolving model or template for those seeking to gain traction in their respective fields.

 

And one of the reasons it’s so important to re-consider the importance of strategies is because they anticipate and create that elusive and much sought-after competitive advantage.

 

From Ideas to Implementation

 

It goes without saying that strategies are only worthwhile when they are successfully implemented. In other words, the very best strategy is the one that can be realistically put into effect.

 

Unfortunately, for many organizations, the path from Point A (establishing a goal) to Point B (developing an effective and actionable strategy to achieve said goal) is often unclear.

 

Moreover, strategies often fall flat. By failing to obtain the right buy-in and assembling the right people, capabilities, skill sets, and talents, organizations fail to achieve the desired results.

 

Given just how much is at stake, it’s easy to see why just not any old strategy will do.

 

Consequently, organizations frequently seek the help of strategy consulting firms to identify opportunities for growth, produce innovative business models, and engage with stakeholders across-the-board.

 

Choosing the Right Strategy Consulting Firm

 

With that in mind, strategy consulting firms, such as Bain & Company and the Boston Consulting Group, should be thought of as roadmaps, charting the best course from Point A to Point B.

It’s important to recognize, however, that not all strategy consulting firms are prepared to recommend the same exact route.

Firms such as McKinsey & Company operate along much more traditional lines, employing the familiar "hub-and-spoke” model of problem solving. That is to say, when faced with a complicated yet familiar challenge, consultants act as the primary relays between management and employees. They build knowledge, gauge the needs of their clients, and offer predetermined solutions to common problems.

 

Contrastingly, an organization like Syntegrity Group is much better equipped to tackle multidimensional complex challenges. Instead of the hub-and-spoke model, Syntegrity Group utilizes the "many-to-many” approach of problem solving, which harnesses the unique skills and abilities of key players in an effort to arrive at a one-of-a-kind solution. Increasingly, this model is proving much more effective in the elaboration and execution of strategies.


In the end, regardless of which firm you choose, strategies are what turn problems into solutions.