management consultant salary
Management consultants support companies in economic decision making processes in various functional areas. They also advise government agencies on economic policy issues. They create analyzes and concepts and carry out projects.
Management consultants evaluate and plan the market and customer orientation of companies and develop proposals for both business development and marketing and sales organization (strategic consulting). In addition, they identify sales and improvement opportunities in the company, present concepts for optimizing operations to their clients, for example in relation to organizational processes, and advise them on financing and financing options (organizational and process consulting). Management consultants also provide recommendations on personnel (HR consulting), for example, on professional development and employee development projects, as well as develop proposals for the implementation and further development of IT systems (IT consulting). In addition to analysis and recommendations, management consultants also support the implementation of projects desired by the respective company.
Advise and supervise the activities of the company
Management consultants are primarily engaged in strategic, organizational and process consulting, as well as consulting on personnel management and information technology. For example, they develop market and marketing strategies for companies, operational and production optimization, recruitment strategies or staff development plans or measures to increase sales. In addition to growth opportunities, companies are mainly motivated to increase efficiency and therefore reduce costs. Management consultants analyze existing internal and inter-firm procedures and processes, formulate goals and draft decisions that serve as recommendations for management. For example, to determine whether to take over a competitor, management consultants study the current state and calculate costs and prices, for example, for investments and acquisitions. They also conduct profitability and weakness analysis to identify possible internal weaknesses and achieve internal optimization. For example, they study the relationship between individual departments or check whether optimization is still possible in the production area. They translate their results into a concept and present it to the company's management. If the task of management consultants also consists of implementation or training, they constantly check the new or changed processes and the economic success of the measures introduced during the implementation.