Small business, medium sized ventures, and certainly, the largest multinationals that bear thinking about need them and have them. In order for every single business to survive, be revived, and thrive, a number of checks and balances have to be in place to act as your verifiable spanners in the works. There is this perception that suggests to the outsider that it is all about the money. Every single business has that strong desire. After all there is that thing called the profit motif. But it is all necessary. Without a steady stream of income, no business, surely, can survive, let alone thrive.
It is not always possible for a single business owner to keep a steady hand on the tiller, what with having so many different areas of business to focus on. Apart from making money practically and direct from the clients, the internal cogs of the wheel need to be checked. Areas of the business, and this can be done through professional process improvement consulting, need to be thoroughly checked and vetted for potential leakages and shrinkages.
Also, any progressive business owner knows this well, there are always margins for improvement. Perhaps the design and manufacture business is a good example to utilize to explain the point. From beginning to end, a number of processes will be in the works to design, develop, manufacture and deliver a given product. And it is possible for the professional business consultant, usually one who knows and understands the given industry well, to advise the business owner on any improvements that could be made to alleviate wastage, promote efficiency and accuracy (which would encourage cost savings) and even and especially on risk management imperatives that could very well save the business.