In this time of global demand slowdown, when all major industries, be it services or manufacturing, are finding themselves in a tight spot, lets explore what role the consulting profession can play to add value to these ailing firms and also make sure that it itself survives! Traditionally, consultants are known to assist organizations in solving problems. Be they strategic, which would include a product launch, an M&A feasibility study or organizational change, or operational problems like business process rengineering or systems implementation, consultants typically are hired for helping management to solve problems and generate value.
As I see, the present situation is no different. The problem at hand for companies is a complex mixture of macro-economic variables, credit unavailablity for potential customers, fall in demand due to job losses and pay-cuts, need to reduce costs through operational efficiency, identifying diversification avenues, and so on. The list would go on for sure. As a result, companies would need a helping hand at this juncture, which can see them through this. This gets me thinking about the huge potential, the market has for cross-functional expertise, which is the forte of consulting firms.
The present situation also calls for having a relook at international financial structure and the practices followed by financial institutions. Needless to say, they weren't sustainable. A major revamp appears to be in the pipeline, and this time with a strong focus on making it more durable and fault-proof. I see no reason why consulting firms should be concerned at all about the present crisis, they better be geared up for the future opportunities, which are almost there to be grabbed!
0 comments:
Post a Comment