By definition, business consulting is, support provided by specialised firms for companies’ current operations as well as in their expansion and/or restructuring. Business consulting can cover all of a company’s areas of operations, including:
- building and redefining business strategies
- personnel management
- financial analysis
- management reporting
- financial management
Business consulting can be provided in different ways, including:
- permanent support provided on the basis of flat-rate remuneration;
- incidental support paid by an hourly fee; and
- based on a specially-designed settlement for the performance of a specific range of tasks and the achievement of the desired results.
There are three main types of consulting firms:
- ones that are hired to solve unique, difficult problems that few if any people have encountered in practise;
- ones that are hired to solve difficult problems that have been encountered by many entrepreneurs, but the knowledge needed to solve them is highly specialised and thus is not widely available; and
- ones that are hired to conduct recurring tasks and solve problems commonly encountered in business, but carrying these out requires specialists who are not profitable for the enterprise to employ on a permanent basis due, for example, the inability to make full use of their expertise in day-to-day work.
In today’s rapidly changing economic environment, it is often not possible or rational to permanently employ experts for all business specialisations. Outsourcing non-core business processes has become increasingly popular. Small and medium-sized companies in Poland mostly use external lawyers and external accounting services.