Wfd Market Potential for Wfd Consulting, Inc.,

WFD Market Potential for WFD WFD Consulting, Inc., has been providing human resources strategies and resources to many well-established multinational concerns for almost three decades (WFD, 2012). The support and services offered by WFD promote the research-backed belief that employee wellness, happiness, and fulfillment has a direct effect on productivity and success, and thus that developing and implementing proper and appropriate techniques for handling employee workplace and personal issues is an essential part of running a profitable and efficient business (WFD, 2012).

Though the consulting business has been successful in the past, however, there is no guarantee that it will continue with the same level of success in the future simply due to changes in the market size and potential. The following pages will examine the market potential for the firm in light of its past performance and current trends in the operating environment that could affect strategy and potential in the coming years.

Past and Current Performance Some of the largest and most respected business organizations in the world have utilized the services of WFD Consulting, Inc., including IBM -- a company that was instrumental in the founding and continued development of WFD (WFD, 2012). Founded in 1983 and incorporated in 1988, the company has enjoyed several decades of economic growth that have provided substantial opportunities for the consulting company due to rising demand (Audretsch & Welfens, 2002; WFD, 2012).

Increases in global business and the growth of multinational firms over this period led to a high degree of market growth, fueling the organization's individual growth. This does not mean that the company has only been successful because of overall market expansion; the innovations of the company's service offerings and its ongoing research and development in areas of workplace and family satisfaction continue to provide opportunities for the company (WFD, 2012).

At the same time, the increase in sheer market size and the capacity for large international companies has definitely been a boon to WFD Consulting, Inc., and an examination of past performance must necessarily take into account the rampant growth in technology and business that has provided business organizations the resources to engage WFD's services (Audretsch & Welfens, 2002). As a consultancy firm, WFD does well when business in general does well, and its services might be underutilized in times when business organizations have less capital to expend.

Present and Future Market Potential This has serious implications for the company's potential for growth and success in the coming years, as continuing economic turmoil and the recent recession have limited capital and future growth projections for many businesses (Byun & Frey, 2012).

Though growth in the current decade is expected to be stronger than the overall growth in the past decade, much of which was eroded in the recent recession and global economic collapse, growth rates are still projected to be far lower than in the successful years of the 1990s though 2006 (Byun & Frey, 2012). This means there will be reduced capacity for businesses to spend on internal development plans, even if these plans increase efficiency in the long-term. What this means for WFD Consulting, Inc.

remains to be seen, however it certainly does not bode well for the company. Just as the previous years of overall economic prosperity and business growth contributed to a larger market for the company, the reduction in growth and the lower level of available capital in the overall business world means that WFD will have a harder time acquiring new clients or expanding existing accounts and relationships (Audretsch & Welfens, 2002; Byun & Frey, 2012).

The market potential for WFD has almost certainly already shrunk in the recent years of the recession, and indeed should expand somewhat over the coming decade, however it will take even longer for the market to reach the same level as during the heyday of this.