Interview questions
Briefly describe your field?
Corporate finance is a finance sector that outsources funding in corporations, determines the capital structure of a corporation, develops strategies to increase the organization's value to stakeholders, and develops tools to analyze and distribute financial resources (Young & Chopra, 2020).
How is consulting effective in this field?
Consulting is vital in this field because financial advisory consultants discuss and help the finance corporation develop strategies that legally and ethically reduce their tax bills. Consulting also helps the organization to discover new ways that improve the cash flow.
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What are some of the ways used to market one's self as a consultant?
There are various ways to market one's self as a consultant (Rycraft, 2020). One can use social media marketing, which has proved to be quite useful as it reaches a broader audience. Setting goals and branding yourself can be another superb way to market the consulting business. Facebook is a platform that consulting companies must put the most effort into to develop their social media presence and enhance their brand (O'Brien, 2017).
Have you seen consulting being used before?
Yes, I have seen consulting being used before in many finance corporations and businesses.
How well did the consulting work? Why? Why not?
The number of times that I have witnessed consulting, the service has worked wonders for the organization procuring the services. Consulting helped the said organization, a real estate firm, to identify and invest in prime areas with a prospect of growth.
Would you consider consulting as an investment in your field?
I would consider consulting a significant investment in any business, especially in this field. Consulting helps the client to identify investment opportunities that yield maximum returns and face minimal risks.
What are the disadvantages and faults that you have spotted in consulting?
The services are very costly. Only big and well-established finance corporations can afford these services. Small businesses and industries looking to grow cannot access consulting.
What would you recommend to improve consultancy in this field?
First, I would recommend that all financial advisory consultants be licensed by the US Financial Industry Regulation Authority (FINRA) to improve their credibility, as no one likes fraud. I would recommend that the consultancy firms train their employees on problem-solving skills and communicate empathetically.
This interview helped me to understand the importance of financial advisory consulting. I agree that financial consulting is the process of financial management and administrative-accounting (Klenin, O2016). I believe that the business world needs this consulting to prosper; that is why I intend to specialize in this field. The interview has been instrumental in pointing out the shortcomings of the consulting industry and improving the financial consulting services.
References
Klenin, O. V. (2016). Services of strategic consulting: special features and types.
Rycraft, S. (2020). Marketing yourself effectively as a consultant . Linkedin.com. Retrieved 19 September 2020, from https://www.linkedin.com/pulse/marketing-yourself-effectively-consultant-sarah-rycraft .
O'Brien, K. (2017). Employer branding through social Media platforms in financial consulting companies.
Young, G., & Chopra, S. (2020). Corporate finance | business . Encyclopedia Britannica. Retrieved 19 September 2020, from https://www.britannica.com/topic/corporate-finance .
