If you were to face any sort of dilemma in your business, for example, you see that the online store of your business is gaining traction whereas the footfall in the physical retail store of the business seems to be declining, and you are not sure of what’s happening. You don’t have a great grasp of online retailing, so this shift is putting you in a bind. You are pressured to figure out a course of action quickly, but you are not sure where to start. In such a case, you would consider bringing in a strategy consultant. Business and corporate strategy consulting have a presence in basically every industry across the world and can give an outside, expert perspective on business challenges.
Business and Strategy consulting services are bought in by the board, executives, or management- for the third party outside expert perspective on their business challenges. Strategy consultants have a high degree of business knowledge and are expected to access high-level business issues objectively. They take a holistic approach to specific problems companies are dealing with and advise on how they should approach them.
Business Strategy Services industry in UAE
The business and strategy consulting market in the UAE has continued to grow in the last years at a rate of 7.6% and is marked as the second-largest management consulting market in the MENA region, behind only Saudi Arabia. This figure is still short of the halcyon days before the crash in global oil prices with growth rates of more than 10%. The regional growth is driven by the ever-expanding digital landscape, and primarily through the increased government consultancy spending on a series of bold national transformation agendas that seek to diversify local economies away from the high dependence on oil. These fast-moving national programs implicate an ongoing growth rate for the business and strategy consulting sector in the UAE for the coming year and the foreseeable future. With the upcoming Dubai Expo 2021 drawing closer, the government is keenly focused on legacy planning for the international event. Apart from the national programs, professional services firms seeking to capitalize and compete on strategy as well as implementation has led to a plummeted growth in the strategy consulting services in the technology sector.
The UAE’s ongoing status as a hub for business and strategy consulting is well supported by the numerous consultancies including all the big names – many of which have established presence in Dubai. The Big Three in the strategy consulting firms includes – McKinsey & Company opened its first Middle East office in Dubai in 1999 after being active in the region since 1957, while BCG launched in the city in 2007 (followed by an office in Abu Dhabi) and Bain & Company set up its regional base there in 2008. Along with these firms – Deloitte, KPMG, and EY – all have an established presence in the UAE with a growing market for digital transformation projects and implementations along with expanding consulting lines in the local technology and management market.
How do Business Strategy Consultants help Organizations in Dubai, UAE?
The fast pace of advancement in digital technologies is creating a new business model at a faster speed than most current company structures in the region can cope with. To deal with this challenge, firms require the support of management consultant firms in the UAE to develop comprehensive digital strategy plans and re-invent their business and operating models to deliver them. Cross-channel connectivity and continuous engagement with all stakeholders are crucial, along with innovation and differentiation through the business and operating models. Unlike the vision and objectives of a company, the business strategies deployed will need to be updated and refined over time. A combination of external research methodologies, along with a study of the customers, industry, and competitive market situation are deployed to obtain holistic business excellence in the client’s business environments by the strategy consulting firm.
From fostering greater digital innovation to establishing permanent digital sites at Dubai Expo strategy consultants are in high demand across the UAE region. As the region is buzzing with changes, business and strategy consultants are dealing with some of the most pressing and high-impact challenges and transformations, both in the public and private sector in the UAE. Apart from helping companies with market entry into the UAE, they also help with international expansion strategies, the development of a new corporate strategy, or the launch of a new business model.
Advantages of Outsourcing Business Strategy Formation
Extensive Knowledge of Business management
Business strategy consultants can focus on the ongoing business processes within a company and find methods to enhance them for optimal results. Business strategy consultants have experience dealing with a variety of industry-related situations and working with different firms with similar challenges, and thereby possess an extensive in-depth knowledge that you can utilize.
Multi-Faceted Functions of Business Strategists
Involving a strategy consultant often gives you a fresh perspective on some of the business operational challenges that you face daily. Strategy consultants can investigate the business problem or challenge with professionalism and corporate objectivity.
Development of Effective Solutions
Experience with numerous clientele would help them in picking on the spot the problems with different aspects of your business. As they are up to date with recent regulatory or affiliation changes, business and strategy consultants can work with you to enable innovative and effective business solutions.
Enable Cost efficiency
Hiring a strategy consultant saves you time to better focus on the business operation of the organization while the consultant makes sure the business runs effectively and identifies future growth opportunities.
YRC (Your Retail Coach)
Your Retail Coach (YRC) is a retail consulting and eCommerce outsourcing company in Dubai offering a wide range of services in retail offline, retail eCommerce, and retail omnichannel catering to a multitude of industries. YRC Ecommerce Management Consultants ensure minimalistic manual intervention in the eCommerce system and help build human-centric solutions that navigate the digital shopping landscape. With the enormous experience that YRC has accumulated over the years by working with international eCommerce brands in the UAE region, YRC has evolved as the single-point contact for getting the entire brand up & running for many high-impact strategic projects. YRC has played a pivotal role in shaping up successful and sustainable eCommerce businesses in the region, right from “Concept” to “Execution” & “Launch” in an organized way. Crafting the idea of the implementation process into phases, YRC helps you in choosing the right business model for e-Commerce whether it is a B2B business, B2C business, C2C business, or D2C business. YRC’s digital management and consulting capabilities aligned to various global industries can be leveraged to their optimum to build a robust, sustainable & profitable eCommerce brand. Surpassing the disruption through their end-to-end services, YRC challenges the current industry obstacles and finds key solutions for their clients in the UAE market, consolidating their future success.