Difference between revisions of "Future of Consulting 2020"

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== Research Questions ==
== Research Questions ==


1) What role does collectivism play in a consulting firm? <br>
[[Future of Consulting 2020 - Research Questions]]
Collectivism is crucially important for the consulting company as it helps to innovate. Many new ideas were created due to collective brainstorming. Also, it is allowed to manage the company effectively.
 
2) What role does collectivism play in a consulting project? <br>
In a consulting project collectivism help to do the project more effectively as the work is splitted between consultants.
 
3) What is the scope of Inhouse/Internal consulting? <br>
Structurize business, develop stategy, check internal controls constantly, change implementation
 
4) Why there is a need for Inhouse/Internal consulting? <br>
It is cheaper and due to constant involvement it is considered to be effective in change management. Also consultants are much more familiar with the companies.<br>
 
5) What is a typical value stream in consulting industry? <br>
: '' A typical value stream comprises of following steps''
:* Knowledge building
:* Project setup
:* Strategy development/consulting
:* Implementation
 
6) What are the various consultancy models? <br>
:* Integrated consultancies - pyramid model (Big Four)
:* Strategy implementers - integrating IT with consulting (Accenture,IBM)
:* Knowledge builders - providing knowledge to consulting firms and businesses
:* Networkers - access to specialized network partners
 
7) What are the various pricing models employed by consulting firms? <br>
Consultants usually set charge per hour of their work or/and by project (also calculated on hourly basis estimated for the project). Sometimes firms set a fixed price per week/month. If consultants have to traqvel to clients site, travelling and living expenditures are usually counted in the price of the project. <br>
8) What does knowledge sharing imply in a non-hierarchical organization? <br>
9) What is the role of emotional intellingence in consulting? <br>
EQ has become extremely important in consulting, especially in the past years. Consultants have to be able to listen and win clients trust in order to form long-term relationships. Often consultants have to bring along change within the organization - that requires a good amount of emotional intelleligence. Also, since consultants often have to work with many people at clients site, it is vital that consultants possess EQ abilities.<br>
10) What role will young generation play in strategy formulation of a consulting company? <br>
Young people,especially MBAs come to consulting with bright up to date ideas and often 'out of the box' new thinking. Nevertheless, the younger population today are much more mobile, flexible and multilingual. Moreover, they  have a much larger choice. Such changes mean that companies need to find ways to retain top talent within the company and offer enough incentives and challenge for bright young people to stay with a company for long.<br>
11) What is the average duration client engagement for top consulting firms? <br>
Usually 3-4 months depending on the complexity of the project (McKinsey website)<br>
 
12) How consolidation of firms impact consulting industry? <br>
: ''Mergers and Acquisitions in an industry leads to growth of consulting services. But the trend is towards selecting a single consultancy for a longer contract.''
 
13) What role does boutique consulting firms play? <br>
Successful boutiques are usually industry-focused(although sometimes they may be methodology-focused, or specialize in a single business function like operations or marketing), and could offer you the perfect job if you know what specific type of strategy work you are
interested in. (Vault Career Guide to Consulting) <br>
14) Where does talent pool for consulting firms come from? <br>
it comes mainly from universities, but also from the client side as people get more experience and are able to consult others<br>
15) What are the new potential regions of growth for consulting business to strive? <br>
Big consulting companies are looking at India, China, Brazil, Africa and Russia. It seems Africa is a controversial region since some believe it will take a while before the demand for consulting service starts to grow. <br>
16) How rapidly/slowly are non-US or non-European consulting global firms growing? <br>
17) What is the percentage of referral client for a typical consulting firm? <br>
around 60% of referrals considered to be average <br>
http://articles.techrepublic.com.com/5100-10878_11-5027467.html <br>
 
18) What role does sales and marketing play for consulting firms? <br>
http://www.managementconsultingnews.com/articles/collins_sell_firm_2.php <br>
 
19) What are the drivers for growth in government and healthcare consulting? <br>
20) What role does Universities play for consulting firms? <br>
Universities provide the majority of the human capital for consulting firms. Those that go into consulting from universities are attracted by their need for $, promotion, learning and growth. Another role for universities is that of idea generation. Many of the innovative ideas implemented in consulting firms either directly from university research or indirectly through employment of university human capital.
 
 
More Research <br>
1) AI - PD, LS <br>
2) e-Consulting - LS, CR <br>
3) [[external v/s internal consulting. growth of internal consulting]] - KL <br>
4) Future of collaboration of Univ and Consultants - CR <br>
5) [[Co-creation and new sources of ideas for consultant to analyze and for the client to solve the problem]] - PD, IT <br>
6) [[Methods of payment for consulting]] IT <br>
7) [[Specialization]] - KL <br>


== Useful Resources ==
== Useful Resources ==

Revision as of 10:03, 31 August 2010

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