As you know from childhood to growth stage we have always been prone to adapt changes and for some reason, if we are not able to accept the change then we fall into big trouble. Like Mahatma Gandhi said “Be the change that you wish to see in the world”. Management consultancy is a client-driven industry, So the management consultant like us has to accept the changing structure of management consultancy in order to retain clients in a newly digitized world. One can analyze from past years things like Technology, Economy, Youth, and Legislation of this country are changing and changed and the management consulting firms had to respond quickly by maintaining the competitive, economical edge and the long term growth.
We cannot ignore the challenges as per the current
economy of the country. As management consultancy profession we need to address
the markets in a lucrative and a digitized manner which leads us to be a part
of inter-active markets. This further
makes us do the discussion and changes on management consultancy
business model, pricing and the brand architecture
and its value, in short, we need to change our business approach strategically
in a comprehensive faster mode and rethink their business, requirements,
and execution or operational plan this leads us to do the cross-channel
activity, continuous engagement with markets, clients and stakeholders
including our leadership skills and the innovative mind.
Creative mind and Innovation is not
everybody's cup of tea we need an artistic and knowledgeable expert to
overcome in acceptance of failure and ending up with valuing accuracy over creativity
in this it’s very important to recognize the problems and barriers so that we
can reinvent the current strategy to find ultimate greater values. Another key
challenge is one individual can’t work on a multiple activities so,
multi-sourcing or working with other organizations or individual professionals
when niche or corresponding proficiency is mandatory but this is isn’t about
working with a small or large specialists but it’s about forming partnership,
sharing expertise and growing together, this might be the solution for the
bigger player in the market, small organizations are real threat to them
especially in the aspects of superiority, belief, and worth.
According to the recent research,
we found that client demands are getting more complex against growing
competition and margins for profits and day by day this not just difficult but
also very significant. To manage this kind of complexity one should have good
communication, understanding of their clients, estimated prices, agendas,
threat and mandatory capitals with this another aspect is the things that
impacting internal executions of management consulting professional
organizations or individual person like spending too much time on making reports,
doing research, for taking appropriate decision etc. these things matters for
enhancing business performance and planning, so overall we need to adopt smart
technology and developing smart strategy for execution, optimization, and
better resource management.
After considering the
current situation in the market one can make out that, Digitization, Gig
Economy and Performance are the key trends going on. The digital transformation
and automated technology in consulting will allow us to keep the standards
high, will give us the exact accuracy which one can rely on it, overall it will
improve the efficiency and production of an individual consultant or an
organization. As you know the gig economy is
now shown as they can
restructure the process of current business. For consulting organization, its needed to find
the right expert with skills and experience in any kind of a particular field.
Nowadays organization is avoiding some of expenses that they spend on permanent
employees instead they hire them as per the project requirement. So, the
revenue of this organization will depend on what kind of strategy is made? and
the desired result and the interactivity with clients for the long run. In the
whole process our commitment does matter, which we can show them by doing
performance in a timely scheduled.
- By PuiSSance We Team
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