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Taking skills to the next level
Looking to take your business or your personal skills to the next level? Choosing a coaching or consulting expert might just do the trick. And according to a study by the Federal association of German management consulting (Bundesverband Deutscher Unternehmensberater), the German business coach and consultant industry is booming.
In 2017, around 118,000 business consultants worked in Germany, and that is an increase of 2.3 per cent, compared to the previous year. This clearly shows an industry that is booming, but why exactly is that? Companies, organisations and administrations are subject to digital transformation. Thereby, they increasingly look for support through management consultants in order to continue to be successful at the required strategy, process and IT adaptations. Not least because of this factor, the consulting industry’s turnover increased by 7.5 per cent to 2.36 billion euros in 2018, and at the same time, the job market is booming.
In 2019, consultants remained optimistic. 61 per cent (in 2018, it was 70 per cent) of market participants have given positive growth prospects in a recent study survey by the Bundesverband Deutscher Unternehmensberater (BDU). Another forecast predicted by a BDU study is the targeted expansion of companies’ digital consulting portfolio, as well as their own business models. BDU president Ralf Strehlau says: “The consumers’ information and purchase decision-making process severely changes through digitalisation. Through this, classic consulting and IT topics, as well as communicative tasks, have to interact more closely. Management consultants react to this development with the targeted acquisition of tech companies, as well as digital and advertising agencies or the intensive cooperation with suitable partners.”