The End of an ERA for Traditional Management Consultancy

The End of an ERA for Traditional Management Consultancy

Since from the past several 7 to 8 years, we are part of the digitizing world and concerning that, we have acquired all the necessary changes to our business models which we called it adapting the change.

So, if you want to stay in the game you have to accept the change. Some of our business partners may have to face some difficulties but that’s the different aspect altogether. Our Management Consultancy Industry was found in the 1980s till now this industry has served the number of clients in various industry sectors.

That time was different and now the things are different I hope you can imagine. Everyone is smart enough to know what is best for themselves these days. So, yes it’s an end of an ERA for Traditional Management Consultancy.

Now the Management Consultancy Industry sector in INDIA is one of the fastest-growing sectors and as per the recent research, we are now expected to become a part of Rupees 27,000 crores by 2020 with 6000 Management Consultancy firms and on the global level the net worth is of $250 billion with total 700,000 Management Consultancy firms.

As a management consultant, our duties do not end here in this modern ERA which is full of Technologies, Innovations, Virtuality, Methodological Rigor and other functional expertise, skills, and talent. Therefore it’s a huge responsibility to give advisory to our clientele and here traditional method of management consultancy doesn’t work.     

In this modern ERA, people are more concerned about results, instant results and the money they spend on those particular services. These days the values on planning, analysis and building a strategy are decreasing day-by-day. Here the people don’t keep faith in Management Consultant. The reality is that doing, planning, building strategy, analysis are the major area of work.

 

If you are failed to do this thing then you’re all results, efforts, money and time get wasted. It’s very important to follow the advice or guidance from a Management Consultant. You will never know how this will create a huge impact on your business and helps to grow more professionally and financially. 

Today is the time of revolution and all management consultants have a big responsibility. Now people hire management consultants based on real-world interactions, actions towards your goals and their respected results. Since the establish business is working together is booming, therefore, it's affecting the upcoming new business as well as recent business. 

In such cases one has to take care of building good strategy, legislation, alliances, cybersecurity, data privacy, and transformations also most of the human work is now done by the technology, so the traditional operations part of any company now has to manage smartly. As a result crowdsourcing, network-based consultancy is now evolving in the management consultancy industry.