Consulting

Consulting touches every business sector. Consultants help organizations and companies identify efficiencies, solve problems, and maximize profits. The types of consulting areas are diverse and have evolved with the economy over the years.

There are four main types of consulting firms, as well as boutique firms that are generally industry specific or regional in nature. 

Management and Strategy | Aims to improve the structure, management, efficiency, and profits of companies. This includes

• Human resource management
• Labor relations
• Physical distribution
• Research and development
• Sales
• Marketing

Financial | Focuses on financial issues within companies such as

• Capital budgeting
• Valuation
• Financial information integrity
• Risk management
• Insurance
• Tadxes
• Corporate structuring
• and more.

Information Technology | Helps design and implement IT systems, develop better IT practices and train employers in IT or security. Also provides advice on IT problems and recommends new technologies or software to companies.

Human Resources and Staffing | Helps companies make the most of their employees while also protecting those employees. Includes giving advice and recommendations for the management of

• Compensation and benefits
• Personnel policies
• Staffing needs
• Recruitment
• Hiring
• Training programs

Within these four types of consulting, a variety of specialties arise based on the needs of the market, company, and specific industry the consultant works within. Engineers can provide consulting services in any of the four consulting areas or specialize in a consulting service specifically for a certain engineering industry.

Engineers who work as consultants provide independent expertise in engineering science for governments, private organizations, construction firms, and developers. These services are typically carried out by a team of individuals with experience in disciplines across the field of service. Large consulting firms may fill these teams with their own employees; however, smaller firms may partner with other firms to create teams with the necessary disciplines.

Engineers within a consulting team can perform a variety of duties from technical and scientific roles to managerial and coordination roles, or a combination of those. Some consulting engineers coordinate projects and activities for team members carrying out needs across a variety of specialties while others work specifically within their specialized discipline.

Industry summary sourced from FirstHand Vault Guide.