What does consulting firm do?

Question

What does consulting firm do?

Answer 1

Suggestions and Advice by Professionals and Experts.

Answer 2

They're a firm that comes into a business, examines how they do things and provides solutions to save time and or money.

Answer 3

Consulting firms provide certain expertise in an area in which a company has no/limited expertise.  For example, let say you work for a real estate company that wants to expand into property management.  The real estate company has no internal expertise in the area of property management.  Rather than guess how to establish a property management office the real estate company is best served by hiring a consulting firm with expertise in property management.  The consulting firm has the experience and knowledge which will enable the firm to outline what the real estate company can expect in the terms of cost, employees, types of potential problems, etc...  The consulting firm can also start to create the property management office. The real estate company can later hire a permanent staff to perform the property management duties.  Consulting firms can minimize cost in the short run.    

The federal government/companies use contracts and consultants.  Contractors tend to be used to surge the workforce for a limited time period.  For example, let us assume that the real estate company is seeking to expand its real estate workforce due to a greater amount of work which is expected to be temporary in nature.  The real estate company’s management realizes that the market is in a bubble; however, they expect the market to slow down after a year.  Rather than hire full-time employees which would require the company to pay workman compensation, etc... if and when they are let go the company decides to hire temporary contract employees.  The contractors have no unique expertise.  They simply increase the workforce.

Answer 4

consulting firm suppose to advise you about what subject they are specialized with... i.e finance, building, trade, etc....

in short : A firm of experts providing professional advice to an organization for a fee