Just as Sarbanes-Oxley legislation created significant opportunities for management consultancies, the same holds true for sustainability requirements in European nations.
In conclusion, all management consultancies are attempting to position themselves as trusted advisors to firms looking to stabilizing existing sales while growing into emerging markets. Of the five included in this analysis, all also have social media channels that are well-populated with content meant to convey their thought leadership in specific areas as well. Yet in the area of equating strategies to IT investments, the majority take the approach that more IT spending is potentially the path out of strategies not performing well. Only the Boston Consulting Group takes a more strategic view of systematic change to businesses, choosing to layer in TI after the frameworks have been created. Their legacy strengths in the BCG and Growth/Share Matrices could be the impetus for this approach. Despite that fact, Boston Consulting Group tends to concentrate more on measuring strategic outcomes across its 19 core vertical industries or markets with more of a concentration on making strategies happen without IT being absolutely essential to their success. Accenture on the other hand is entirely focused on IT first, then strategy, as their core strength is in system integration.
The value of this exercise is in seeing how these management consultancies attempt to base their current value propositions on their...
It is a never-ending cycle of innovation and renewal on their part, as they must always be focused on creating frameworks and new approaches to conveying thought leadership through value delivered. None of these firms could be put on retainer for less than a $100,000 commitment at a minimum, and that would be for a les than a months' work. Instead, each would most likely be well over $500,000 for a major strategic initiative, for example redefining the innovation and new product development strategies of a firm. This study has also shown that the firms look to provide strategic insights in an attempt to reach the CEO and board of directors early in the selling process, gaining their trust and commitment to ensure the success of programs. Finally, thought leadership is an issue for each of them as they must continually fuel their brand position and direction in the market with fresh ideas and insightful analysis.
References
Greiner, L., Motamedi, K., & Jamieson, D.. (2011). New consultant roles and processes in a 24/7 world. Organizational Dynamics, 40(3), 165.
Mors, M.. (2010). Innovation in a global consulting firm: when the problem is too much diversity. Strategic Management Journal, 31(8), 841.
Klaasjan Visscher, & J. Irene A Visscher-Voerman. (2010). Organizational design approaches in management consulting. Management Decision, 48(5), 713-731.
