In today’s world, a consultant's role is to provide
companies with advice on their goals and future direction so that they can plan effective strategies for the
growth of their companies. Bringing some
innovation strategy consultants can help
companies grow much faster and increase
the value of their business to great heights. One
can believe a management consultant can have a much greater impact on business by helping it to help itself when the workforce is charged with
finding its own solutions and yes this is a pride element to consider.
It’s like two fingers
up to management to know they [the workforce] created something integral for
the business and they did it themselves. And good things are that the
management does not have to over invest inexpensive systems or processes Collaboration
seems to be key, be that consultancy-to-client, between consultancies through
partnership agreements or through strategic acquisitions. Also growing is the
number of more bespoke offerings – businesses that expand into other areas in a
more “full service” proposition.
“Management
consultancies are expanding their skills into areas of marketing, customer
relations and digital as the step of change in business accelerates. The
results are often lower costs, improved services, and opportunities for growth.” The business furies three strands of
expertise – customer insights, traditional consultancy, and technical and
digital production.
Intersecting trends
drive disruption. Rapidly emerging trends have created a new breed of
competitor even if the industry doesn't yet view these upstarts as competition.
Many firms tap into the converging trends shaping the future of business, and
the world. By creating solutions at the intersection of big data, data
analytics, the cloud, cognitive computing, visualization, and cross-platform anytime access, these firms
provide a glimpse into the type of automated, scalable data gathering, insights,
and decision-making made possible by next-generation
technology. The
first to feel the detrimental effects of disruption will likely be the large research and advisory firms. With
models that rely on armies of analysts, PDF reports that become outdated the moment
they' republished, and significant annual
subscription fees, these firms embody the most significant vulnerabilities of
the larger consulting industry. And this is just the tip of the iceberg. Just
about any consultant or firm that conducts primary or secondary research will
see the value of these offerings -- and clients'
willingness to pay for them -- diminish significantly.
While many consultants and consulting
firms have established practices advising clients on strategies to leverage
disruptive trends and technologies, few apply this to themselves. Investing in
the technological innovations and next-generation
business models is a fundamentally paradoxical concept in an industry driven by
billable hours, billable days, and closely held best practices in the form of
"knowledge capital."
Trans formative problems.
What emerging client challenges and needs exist that, if addressed, would
transform their business by 10x, or even 100x?
Radical
intelligence. How do we
leverage big data, artificial intelligence, collaboration tools, and other
technologies to create a step change in the level of knowledge and insight we
deliver?
Scalable
relevance. How do we scale
our tools and methods while ensuring applicability to the widest possible
audience globally?
Knowledge
democratization.
How do we make our models, tools, and resources ubiquitously available while
building a sustainable business model?
Collaborative
ecosystems.
What networks can we build or join that exponentially elevate the value we
create and deliver?
In the field of business
strategy, the "tyranny of success" is a well-known dynamic: what led
to today's success will ultimately lead to tomorrow's failure. Individual
consultants and consulting firms that recognize the limitations of their
existing business model while exploring opportunities that tap into emerging
technologies and new delivery models will have the best chance of thriving in
the fast-approaching disruptive future.
- By PuiSSance We Team, www.puissance-we.com
