Inside-the-Minds-Leading-Consultants.json

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    "cleaned_text": "aspatore books business intelligence industry insidersabout aspatore books business intelligence industry insiders wwwaspatorecom aspatore books publishes biggest names business world including clevel ceo cto cfo coo cmo partner leaders half worlds largest companies leading executives aspatore books publishes inside minds bigwig briefs execenablers aspatore business review imprints addition best selling business books journals focusing publishing biggest name executives aspatore books provides readers proven business intelligence industry insiders rather relying knowledge unknown authors analysts aspatore books focuses publishing traditional print books portfolio company big brand books focuses developing areas within bookpublishing world aspatore books committed providing readers authors bookstores distributors customers highest quality books book related services publishing execution available anywhere world inside minds series real world intelligence industry insiders wwwinsidethemindscom inside minds conceived order give readers actual insights leading minds business executives worldwide books publications actually written executives industry inside minds presents unprecedented look various industries professions never available chapter comparable white paper future oriented look industryprofession heading addition inside minds web site makes reading experience interactive enabling readers post messages interact become reviewer upcoming books read expanded comments topics covered nominate individuals upcoming books inside minds series revolutionizing business book market publishing unparalleled group executives providing unprecedented introspective look leading minds business world big brand books big brand books assists leading companies select individuals book writing publisher negotiations book publishing book sponsorship worldwide book promotion generating new revenue stream publishing services also include white paper briefing research report bulletin newsletter article writing editing marketing distributionthe goal big brand books help clients capture attention prospective customers retain loyal clients penetrate new target markets sharing valuable information publications providing highest quality content readers worldwide information please visit wwwbigbr andbookscom email jonpbigbrandbookscom n e h e n inside mindsinside mindsinside mindsinside minds leading consultants industry leaders share knowledge art consulting published aspatore books inc information bulk orders sponsorship opportunities questions please email storeaspatorecom corrections companytitle updates comments inquiries please email infoaspatorecom first printing copyright aspatore books inc rights reserved printed united states america part publication may reproduced distributed form means stored database retrieval system except permitted sections united states copyright act without prior written permission publisher isbn library congress card number cover design michael leperaariosto graphics kara yates material book educational purposes book sold understanding neither authors publisher engaged rendering legal accounting investment professional service book printed acid free paper special thanks individuals made book possible special thanks jo alice hughes rinad beidas kirsten catanzano melissa conradi molly logan justin hallberg views expressed individuals book necessarily reflect views shared companies employed companies mentioned book companies referenced may company individual works since publishing book business journals subscribe study conducted top executives shows individuals feel journals preferred type publication business intelligence magazines books research reports publications aspatore business reviews enabling executives innovate outperform quarterly journals featuring exclusive business intelligence industry insiders subscribed journals clevel executives worlds largest companies aspatore business review aspatore entrepreneurial review aspatore marketing review aspatore technology review perfect giftreward key executive entire team wwwaspatorecomabraspabout aspatore business reviews goal aspatore business reviews aspatore technology review aspatore business review aspatore marketing review aspatore entrepreneurial review bring important condensed business intelligence industry insiders range different topics affecting every executive expanding breadth knowledge enabling innovate outperform journal focuses specific issues affecting particular professionindustry written leading clevel executives ceo cfo cto cmo coo partner currently industry rather unknown writers authors research analysts absent working current market environment aspatore business review journals provide distinct competitive advantage subscribers featuring imperative business research true industry insiders issue featuring knowledge excerpts white papers articles document analysis business intelligence aspatore business reviews focus pressing business issues condensed format possible best way maintain edge keep current business reading time efficient manner possible aspatore business reviews interactive journals based submission white papers articles knowledge excerpts business leaders worldwide aspatore business review follows following special format specifically designed leading executives preferred way comprehend business intelligence e xecutive summary executive summary provides highlight current journal enables quickly scan important concepts ii abr f eature abr feature focuses current topic affecting executives every industry variety different clevel ceo cfo cto cfo cmo coo partner perspectives iii nthe know know features knowledge excerpts leading professionals variety topics enabling executives expand breadth knowledge communicate intelligently wide range important issues develop ideas innovation new revenue opportunities within area expertise iv e xecutive perspectives executive perspectives feature white papers variety topics submitted clevel ceo cfo cto cmo coo partner executives leading companies major industries currently significant impact overall economy vprofession spotlight profession spotlight focuses key clevel ceo cfo cto cfo cmo coo partner executive position golden rules profession topics enable types executives identify efficiencies new productservice ideas new revenue opportunities interact better implement innovative concepts profession vi ndustry spotlight industry spotlight section highlights current industry part industry affecting majority businesses way another provides opportunities growth new profit centers vii deas innovation ideas innovation features series question blocks used starting point executive meeting brainstorming session distributed key managers way stimulate new ideasthe quarterly journal featuring exclusive business intelligence research analysis industry insiders enabling executives innovate outperform subscribed journal clevel executives worlds largest companies sample contributorsreadersfeatures dietmar ostermann kearney ceo frank roney ibm general manager pamela mcnamara ad little ceo john zeglis att wireless ceo richard costello ge brand manager fred round ernst young technology tax leader steve jones cocacola chief marketing officer warwick ford verisign cto carl ledbetter novell cto richard schroth perot systems cto scott dietzen bea systems cto aspatore business review brings important condensed business intelligence industry insiders range different topics affecting every executive expanding breadth knowledge enabling innovate outperform aspatore business review way business professionals keep edge stay top pressing business issues aspatore business review features business intelligence research analysis c level ceo cto cmo cfo partner executives consultants venture capitalists investment bankers lawyers analysts worlds largest prestigious companies quarterly issue focuses pressing business issues trends emerging opportunities marketplace affect every industry way another every quarter aspatore business review focuses topics every business professional needs aware staying ahead changing markets fostering innovation profiting recessionmarket upswing brand building emerging market opportunities economy trends new legal developments stock market outlook investment banking perspectives technology internet management leadership venture capital perspectives aspatore business review one journal every business professional read best way maintain edge keep current business reading time efficient manner possible year comprehensive issues fill order form side visit us online wwwaspatorecomaspatore business reviewaspatore business review tear page mail fax aspatore books po box bedford fax name email shipping address city state zip billing address city state zip phone lock current rates todayrates increase every year please check desired length subscription year years save years save years 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first issue date information publication dates availability please visit wwwaspatorecom inside minds leading consultants industry leaders share knowledge art consulting contents frank roney drive business results walking customers shoes randolph c blazer understanding client pamela mcnamara working interface technology business dr chuck lucier overlap circles maximizing three elements strategy consulting business dietmar ostermann art consultingfiguring right luther j nussbaum discipline client value bradley smith giving clients expect thomas j silveri tailoring solutions meet client needs david frigstad future marketing consulting john c mcauliffe rules changedleading consultants drive business results walking customers shoes frank roney ibm general manager worldwide business innovation services inside minds consulting path ive professional services years intoxicating profession ibms consultants live intersection business strategy technology execution constantly changing areas theres never boring day boring assignment boring engagement customers business designs evolving new applications technologies emerge core consulting industry creating value customers ultimately customers also hard work staying leading edge change practical cannot done today creating value everything transformation ebusiness early technology became key enabler business strategy saw real acceleration consulting around technology driven erp systems opportunity reengineer businesses take costs become productive efficient increased throughout particularly around yk technology changeover initial emergence internet first wave ebusiness saw insatiable demand leading consulting talent talent could develop strategies leading consultants create new business models implement technologies drive companys growth increase competitive advantage save money last two years saw surge around big ideas propelled business designs dotcoms know short lived dotcoms learned hard lesson ideas innovation without tangible business results isnt going cut best consultants know deliver promise big ideas execute marry innovation maximizing shareholder value second wave e business hard work business innovation technology integration defining success maniacally focused customer value important element mission order know delivering value measure customer satisfaction regularly ask helped customers drive shareholder value impacted revenue growth increased market share impacted competitiveness helped reduce costs increase productivity contributed development business strategy transformation business inside minds youre going live intersection business strategy technology execution simple question must asked every day made difference customers havent leveraged technology business strategy drive shareholder value havent done job another job though publicly owned company publicly owned consultancy must also drive value shareholders driving value customers shareholders interesting balance one weve successful quite another measure success least businesses advise ability unlock leverage business strategies across entire enterprise business processes pieceparts unlocking promise ebusiness throughout company business processes consultants must industryfocused days must keenly focused insights business designs new business processes technologies evolving industry wide winning combination consultant keep industry forefront mind marry right technology address customers business issue technology technologys sake technology real payoff customers leading consultants opportunities important opportunity wireless mobile computing key technology increasing customer loyalty reducing operational costs improving business productivity use wireless technology everyday businesses wireless makes easier things like track inventory improve customer responsiveness increase effectiveness sales force wireless makes businesses mobile allows people take aspects job theyre traveling working directly customers completely new business models emerge take advantage wireless technologies going forward going kind gamechanging effect companies web access decade ago one fascinating potential locationbased services allow service transportation companies track locations delivery vehicles make route adjustments based realtime market demands additionally locationbased services provide information emergency services local level immediately locate people distress may call cellular phone finally think next big push ebusiness going around transforming workplace ibm led world path using web transform core business processes like supply chain customer relationship management eprocurement whats next einside minds workplaces doable short term big cost saver know weve done within ibm first phase efficiency turning technology enterprise portals employee selfservice hubs characterized tools like ehr emeetings online learning instant messaging corporate yellow pages phase two putting pieceparts one eworkplace umbrella integrated capability reduce costs traditional workplaces increase efficiencies workers art consulting think art consulting starts ability understand customers context business industry think every customers enterprise puzzle job listen customer thoughtful need decompose hear assess parts reassemble using insight knowledge help develop business strategy art really good listening point view however consulting must ideas execution demand timetomarket consultants get customers market fresh ideas workable strategies faster competition lead marketplace leading consultants need consultants consultants work clients many different reasons customers looking innovation fresh insight business strategies ways leverage technology know hot topics know number different directions could take theyre looking specific industry thought leadership point view wireless great example understand wireless come us help think right alternatives drive business results sense customers come consultant looking insight capability whether business strategy managing change implementing technologies ideal customerconsultant relationship change agent becomes trusted business advisor requires customers best interests mind times sometimes means saying customer sometimes means changing direction critical customer projects objectivity crucial consultants operate best held accountable delivering ideas increasingly customers saying want ideas also execution often best customer relationships healthy dose creative tension ideas challenged accountability held paramount think thats right inside minds difficult aspects consulting people perspective consulting profession well known stretching worklife balance parameters operating leading edge business technology change challenging however many ways thats makes profession appealing dont think balance issue ever going go away breadth business change business world new emerging technologies putting lot demands consultants today unlike ten years ago could easily master technology time current environment requires adept industry expertise much deeper technology competence ever address need go market industry weve established technology centers competence high premium put collaboration sharing reuse assets consultants compete basis industry technology solution capability also ability leverage experience expertise intellectual assets increasingly important innovate share improve individual productivity effectiveness better managing know ability save organize apply extensive knowledge within ibm key providing distinctive value customers use knowledge management leading consultants provide professionals framework enables reuse insights best practices technical frameworks solutions knowledge sharing reuse leads outstanding service distinguishes ibm global services competitors roadmaps good consultancies underlying methodology past ten years created term ibm global services method whole series structures methodologies conducting consulting business strategy engagements technical implementations also basis train people execute endtoend value proposition important part worldclass consultancy today enough deep understanding industry industry roadmaps important cultivate develop maintain industry roadmaps points view industry going leveraging combination thought leadership business best practices also maintain rich technical frameworks effort shorten timetomarket also believe valuenets important aspect create customer value preferred strategy work leading independent software vendors use inside minds applications key enabler customers business needs business partnerships valuenets center creating value customers getting speed important thing see industry marketplace eyes customer looking customers lens markets competitors industry seeing environment operating expect consultants come engagement kind orientation broad perspective ensures recommend best customers enterprise instead using standard industry approaches also work hard startup phase engagement understand customers technology preferences infrastructure go project use insights grounding points work gives us ability truly walk customers shoes leading consultants metrics measure engagements consultant succeed customers value services extremely satisfied results work strong client relationships delivery quantifiable business value lead consistently satisfied loyal customers excellent reference accounts repeat business consultants must clearly understand anticipate customer expectations proactively innovate new solutions meet needs imperative understand customers perception value services satisfaction business impact services consultants value must expressed customer terms relevant proof points around industry expertise credibility marketplace must support recommendations facts addition think every consultant needs talk customer everyday must active dialogue actively listen means open whats working whats learning culture style customers many ways assess relationship engagement whether track theres nothing better listening customer inside minds good qualities consultants think hallmark good consultant becoming trusted business advisor customer important customer sense trust comfortable consultant vice versa straight talk essential lay things line use meaningful words separate logic emotion talk realities thats customer wants worry recommendations implemented recommend ways resolve potential issues within customers environment paying attention culture customers enterprise impact execution recommendations provide roadmap success listen customer identify issues may go beyond question asked provide answers bring real business value another thing look consultants willingness say best interest client times may know right answer may take time develop right answer sometimes may disagree client direction thats okay whats okay refraining putting honest thoughts table whatever reason failing work necessary logic engagement leading consultants also think complexities todays world team player technology hand communicate globally number enablers kind collaboration communication use lotus notes extensively consultants need able reach network colleagues moments notice teaming collaboration skills extremely important today time consultants also need healthy degree objectivity need selfstarters maniacally focused delivering customer value good consultant thinks add value goes beyond following good work plan pitfalls avoid one biggest pitfalls promising deliver talked importance getting speed formulation execution customer engagement based customers needs also based understanding customers capabilities resources support engagement idea customer wants time frame want whatever resources may always right plan may overpromising inside minds another pitfall recommending last years idea best practice market continuing evolve fast pace consultants must stay current use structures methods core part consult also must highly flexible innovative important remember really creative part business certain point view year ago doesnt mean point view wont change increase learning adjust insights keep pace market dynamics also ask consultants serve customer project need keep foremost minds every day think customer needs project serving customer work plans objectives deadlines end day comes back creating customer business value must keep customers interest foremost minds leadership weve developed number competency profiles key leaders many types leaders required successful large global consultancy first foremost terms core competencies leaders customer insight able think business customers eyes also leading consultants drive passion successful business able deliver straight talk team players customer colleagues across ibm dynamic teaming important part deliver customer value consultants need decisive profession exciting pinnacle change intersection business strategy technology execution ability lead provide compelling points view intersection crucial terms differentiation consultants visionaries others strong subject matter expertise business strategy industry business process technology still others business incubators must change agents must strive recognized clients golden rules consulting first golden rule customer comes first pinnacle ibm wake every day thinking putting customer first everything else fall place second thing would stress accountability willingness held accountable deliver commitments want put innovative fresh ideas table customers inside minds ideas executable third golden rule everything driving customer business results exceed customer expectations deliver real business value lot clich\u00e9s industry think three rules important tenets future consulting consulting industry going massive change future bright deliver endtoend value todays projects far complex theyve ever reason customers looking globally oriented change agents deliver intersection business strategy technology execution easy global insight industry segments make industries weve done ibm global services build worlds leading consultancy services company ground something go acquire quickly assemble takes strong culture maintain objectivity critical eye continually improving execution market make work different times industry speed strategy design execution key ideas always leading consultants important crack code bridge strategy technology going leaders industry going forward implement ideas win ten years journey building ibm global services ibms consulting capability went small player world leader lot hard work clear determination today professionals got maintaining strong commitment putting customer first every day let talking listen provide point view execute think handful companies going able deliver kind value global customers need frank roney general manager business innovation services worldwide ibm global services responsibilities include achieving growth market share profit targets bis globally developing bis strategy value propositions managing bis global investment portfolio validating global basis bis right resources capabilities deliver offerings mr roney leads five global bis sector executives responsible developing industry services strategies developing thought leadership industry specific solutions inside minds previously mr roney ibms senior executive responsible worldwide systems integration business responsibility included establishing business models business processes ibm uses worldwide perform systems integration business leading ibms global systems integration community ensure consistent business performance mr roney general manager integration services us ibm global services responsible strategy growth profitability operations united states consulting systems integration business units ibm global services prior joining ibm mr roney partner price waterhouse management consulting services division managed michigan business unit sap business unit major engagements variety industries including automotive retaildistribution consumer product segments leading consultants understanding client randolph c b lazer kpmg consulting inc chairman chief executive officer inside minds enjoyable aspects consulting although im charged variety business responsibilities ceo end day enjoy gets creative juices flowing still providing direct assistance clients helping professionals solve client challenges clients primarily come kpmg consulting two reasons solve business problem pursue business opportunity provide analytics also experience industry knowledge well information systems support business ongoing basis challenges companies face today revolve around harnessing information using advantage integrally involved solving concerns exciting dynamic keeps always thinking forward next major business technology innovations help clients tackle second working clients excitement working colleagues inside outside business kpmg consulting group topnotch professionals throughout levels organization everyone encounter experienced committed intelligent eager learn creates environment encourages work hard increase knowledge truly driven toward success weve created culture emphasizes personal responsibility leading consultants individual growth time focusing others success valuing teamwork collaboration particularly begin accept responsibility move management levels help drive business great pleasure huge responsibility bring others company help ensure success make sure theyre mentored developed motivated trained work client performing well clients best interests mentoring opportunities enormous typically diverse teams thats drives creativity need mentoring go directions mentors report us report may specifics clients particular needs work alongside us clients often serve key roles joint teams wonderful position help others grow within company clients see successful art consulting art consulting starts clear understanding need business problem challenge client facing experienced first solid foundation also know wide range client specifics even know inside minds start understand client environment sit competitive marketplace operate understand competitors understand culture state machinery apparatus whether theyre producing goods generating information providing service art consulting must truly understand client clients situation see one part relationship building one part technical analytics clients current situation needs youve locked onto need aspects requirement reach second phase art addressing client needs delivering results creative solutions methodologies sometimes involves approach never tried develop approach methodology deliver results client looking providing enough specialty expertise guide client third aspect art communication process evolves try keep clients needs project methodology lockstep project unfolds go project need change become defined intended solution may begin drive one aspect need forget aspects unless constant dialogue going leading consultants two things need delivery youre going get synch real art projects kick formal planning stage helps make sure roles clearly defined kpmg consulting client team members levels clear understanding responsibilities specifically accountable also ensures background information provided get us speed quickly formal communication plans place incorporate change process approval structure involved engagements well helps manage changes scope projects lets client professionals fully understand implications changes across project areas cost resource demands well project timelines turn helps us mobilize additional personnel needed helps keep project moving instead stalling bottom line make sure expectations set communications clear detailed ongoing feedback provided onsite corrections made keep going get result client wants important lasting result inside minds new face consulting challenges job pressures consultant gotten even harder recent years say primarily world running faster speed faster pace probably greater desire results weve ever business world whether getting information instantaneously via email restructuring entire business model six weeks people expect immediate solutions complex issues often impatient exploratory work must done offer real solutions complicated business needs professionals really hit ground running industry acumen speed purpose give clients confidence time isnt wasted serves purpose consultants extend length client engagements rack fees unnecessarily ninetysix percent top clients repeat customers deliver results fast addition increased sense urgency clients consultants often share misconception technology great panacea business problems technology helps confuses issue technology enabler effective consultant solve problems weve good success automated diagnostic assessment tools derived immeasurable benefit knowledgesharing intranet permits leading consultants name quick examples technology also confuses things people race technology solve fundamental business issues technology cant requires experienced people thinking problems alternatives another recent change makes profession seem little harder whole theory around people workforce professional desires goals life emotional attitudes talk lot generation x whats types willing put hard work hours required theory really subscribe people still pretty good dedicated right things clients colleagues treat openly honestly theyre going respond way people years ago rational people trying fairminded ambitions goals think clearly attentive peoples needs notion deal workforce issues seems complicated today really good people goals making sure goals understood important make sure goals lockstep organization get winwin feel pretty good stand weve done respond people inside minds put together thing years ago people would say thing years ago little faster little sophisticated generation consultants pushed bar next generation take next step thats expected consulting become difficult answer yes fundamentals still still locking onto client understanding business need trying find solution need communicating around solution keeping lockstep solution need still hiring workforce motivating workforce feels like theyre going get something result delivering something client facing challenges delivering results consultant client range consultant involvement pretty broad sometimes clients understand needs understand need get solved dont necessarily workforce get done workforce already involved operations core business roles dont special contingent workforce throw new requirements charge seizing new opportunities costleading consultants effective clients add workforce get things done always situation something customers cant additional professionals augment workforce specific projects think workforce involved repeat things weve done environments thats say solution works everywhere every client consider accept solution worked somewhere else every client unique think ability see worked hasnt worked environments consultant involved multiple similar projects instance erp implementations typical customer might need professional adds real value knows risks typical issues arise allows analytics say worked needs tweaked consultant use past successes eliminate much groundwork reduce risks speed project achieve desired results bringing experience experience b table thats second thing third thing come issue objective point view meaning caught inside minds culture issues clients may face internally foresee solutions clearly certain points time may able punch toward solutions workforce may mired organizational issues responsibilities preferences bridge issues easily dont think impression ever something clients cant think objectivity experience augmentation help client punch something would time costeffective new face consulting opportunities one could talk areas growth functionally say whole sales force automation world area ripe improvement great opportunity consultants clear companies gain lot terms way service customers theres lot work lot growth area within supply chain logistics manufacturers distributors products services theres still lot work gained example business would point whole globalization arena business focus global client marketplace global companies today run financials one global leading consultants entity different regions different product service divisions run sets financials reports customers supply chain vendors resource management think happens companies truly need global realtime virtual closes tell end particular period within short time company stands financials traditionally companies close books th month th th day next month start know financials period closed two three weeks earlier youre already two three weeks away making corrections numbers dont come way want question get pushed activity happens financial status logistic engineering status realtime virtualtime see key indicators think going tremendous opportunities help clients make progress area another area growth broadband technologies technologies developed communication firms across world utilize businesses interviews phone could webcast facetoface broadband line would make better interview richer interview inside minds answer probably yes someday cost infrastructure needs exist support commonplace course well way people interact going get involved areas areas growth think important consultant focused two things one state technology traditional answer youre consultant half challenge opportunity half opportunity staying focused clients business needs trends come go focusing hot technologies slick solutions wont keep clients stay focused client put clients shoes understand clients needs drives business things worry change improve upon become competitive drives business need pull technology make happen involved things kpmg consulting integrator involved two aspects goes back art consulting makes consulting consulting commodity business one size fit common threads clearly make services efficient leading consultants focus focus focus understand every aspect need dont lose focus start things could interfere stay locked issue hand punch better punch one thing try dabble things patient good results results last lifetime dont come overnight stick methodologies dont skip steps patient follow every element real value consultant success success clients means theyve achieved ends theyve set achieve theyve identified need weve helped solve helped seize opportunity another measure success solutions staying power onetime fix also fix support opportunity area period time matter happens terms internal execution delivery needs ultimate test client satisfaction client fulfilled help become successful course well go back internally look metrics see job time made money got challenge people got opportunity propel inside minds forward etc theres whole host internal things examine first test client get something enabled move forward support every time get involved client company like stands behind work weve done hundred years well keep next hundred years one thing drives us regardless whether cost us little bit money get result wanted thats ultimately question ask instead much cost us question becomes customer satisfied help client move forward business look ongoing partnerships clients relationship one supporting moving forward successful job business advisors integrators support clients understanding need delivering need keeping need delivery cost balance part relationship open honest us performance going work us help us understand needs better thats required trust us still need set criteria milestones evaluate performance getting engagement point build mutual trust respect truly drives success clients going leading consultants invite us business problems opportunities thats want want longterm relationships thats interested one project one engagement one time one time interested clients life consistently delivering success ensure keep exactly clients foundation expertise offer expertise clients draw number sources cant use use first focus building expertise along vertical lines start set leaders understand specific industry vertical either came industry serviced long time developed relationships vertical understand industry theyve part leaders build consulting team recruiting talent similar backgrounds work experiences must understand particular work environment industry needs credibility clients strong experienced resource pool define solutions solution teams specific industry based specific needs industry inside minds defining solutions even names may industryspecific meanings instance someone else may call customer relationship management call customer care billing certain industries industry use different nomenclature different nomenclature theres unique emphasis difference way want go building client relationship essential understand solutions tailor deliver solution client responsive way vertical goes business build foundation expertise start leaders build workforce equip methodologies solutions tailored marketplace back knowledge resources instance sample engagement deliverables white papers experiences weve gained across industry verticals solutions benchmarked things professionals materials reference follow established training program teach skills teach skills apply vertical also enable keep trends verticals offer innovation insight another essential part ability provide insight understanding hot points leading consultants technologies may influence affect industry ive stated important know competitive pressures clients going think also back understanding strong alliance relationships kpmg consulting alliance relationships veritable whos technology business different relationships target different verticals instance would take particular technology consumer manufacturing business solid functional accounting package financial system handles supplychain management aspects would fit well business marketplace hightech business needs vastly different accounting funds flow management accounts payable plans establishing information systems architecture different package may better answer youre building vertical competence recognize dont take every alliance partner every vertical aware functional technical aspects every alliance partners products services solutions fit various verticals differently part building true vertical business finally important manage people verticals everyone knows theyre together expertise base clear gotomarket approach think way set profit loss manage business set rewards structure inside minds help reinforce foundation expertise coherent teams cant go hire people experience use experience full advantage continuously build upon enrich client delivery keep business innovative responsive consulting companies im often asked consulting companies answer clearly understand differences among consulting companies several things examine start market focus system consultants focused marketplace market focus drive whole different internal set solutions workforces alliance relationships forth next questions ask specific market focuses solution set built solution set take market look workforce ask supports solution terms implementation execution client look mechanical things inside company see well stand behind clients ask company long time support implementations standing leading consultants behind work bring new ideas table create new technology may impact influence things weve done things future think look whole range things see companies across board focus good components instead want know categorize different companies would say many different players space integration space e consultants space market focus really dotcom concerns companies started last five ten years theyre focused webenabling applications providing frontend dot com companies addition econsultants big services predominantly outsource businesses hardware businesses software businesses provide whole array client services hardware outsourcing consulting theyre wed certain hardware software platforms theyre focused biggest area opportunity revenue outsourcing big five companies many consulting units spinning big five strong applications arena stronger systems group firms call inside minds new breeds differences even within new breeds terms market focus solutions kind workforces theyve built support solution set varies among firms criteria think clearly three major buckets groups econsultants big services real pure integrators believe kpmg consulting one two pure integrators public domain managing turbulent market changing economy poses two major challenges consultants managing business workforce turbulent times helping clients manage help clients staying focused important business needs opportunities client making sure working front deliver clients desired value results market cautious growth four years ago clients want dedicate resources funds get real return investment help critical need area job stay focused critical need things really work bring intended results client good unless ask try peddle something else may mainstream think recognize clients industries different pressures leading consultants different concerns make sure approach solutions recognize differences manage business workforce im strong believer sticking fundamentals organization would probably prefer wasnt exciting path believe good times bad times stay focused fundamentals business creative wild creative focused one fundamentals business fundamentals include focus clients needs deliver needs make sure communicate response needs make sure running business efficiently available resources make sure investing resources develop workforce todays needs needs tomorrow well customers call fundamentals blocking tackling bread butter call fundamentalist fundamentals fashionable good times bad times tend overlook boom economy everyone talks growth even youre keeping growth youre sticking fundamentals youre taking advantage growth trying solidify streamline delivery instead focusing clients business problem youre going things turn client wont confidence inside minds believe need stay focused fundamentals foremost among commitment clients success making profit economy nowhere economics book say dont grow cant turn profit still profitable economy must manage resources effectively deploy highest opportunities keep resources general synch business invest personnel funds put important opportunities make count company growing time one elses econsultants part gone away big services flocked outsourcing everyone really seems want abandon called systems integration space didnt abandon stuck grew thats say tougher times sectors national service sector public robust business units even area still profitable keeping bookings consistent focusing investments delivering promises made clients leading consultants gaining market share adding clients total revenue may going may able gain presence certain clients marketplaces couldnt leverage later downturns economy present opportunities well others us challenged face challenge rewarded done monetary rewards also recognition promotion opportunities opportunities fulfill ones personal goals commitments think get winwin even tough times feel strongly youve taken advantage tough times youll better positioned things improve advice business leadership take care people develop nurture move forward success success would say great deal personal success come ive able pick recruit mentor turn much business bright people probably brighter professionals able catapult business forward extent going better people turn help ensure future success business inside minds best leaders anywhere whether theyre government officials business leaders sports people individuals understand importance people fair treat people want business treat businesses persontoperson organizationtoorganization fairminded important drives culture success taking risks every time take new client risk familiar client may know clients business problem may understand environment face havent yet worked across table dayin dayout long periods contract reached end contract cases prospective client evaluations take look new client scenario entering really get sense whether meet clients expectations owe clients tell front things concerned even competitive situation evaluations analytical tool puts risk table discuss things client see things differently leading consultants make conscious decision perhaps stop relationship may right outcome us long term ive explained every time sign new client probably every day taking risk think way protect risk establish processes risk one first things considered certainly element always considered prospective client evaluation completed signed one riskmanaging directors give second check balance forces us deliberate thinking every business decision make need think risks imbed certain processes force risk considered every decision considering making sure response game plan weve identified risks need balance react risk manifests decisionmaking processes slow decisionmaking process day three six could prudent thing even projects existing clients pose risks may one candidate strong technical skills another great communication skills client team strong enough technically may need inside minds communications person lead specific engagement need see risk getting synch situation communication since risk something thats imbedded every decision make make conscious part decision process make sure weve front imbedded processes facilitate checks balances keeping edge way keep edge marketplace seeing real pressures people face every day people inside kpmg consulting would probably say im good administrator understand business understand fundamentals make sure elements business talk keep moving good administrator doesnt give edge im professionals clients seeing affects im going lose edge spend certain amount time lot thought framework inside positions either dialogue engagement reviews meetings people clients said earlier enjoyable part leading consultants future consulting fundamentals locking clients business problem going change next decade clients still businesses business priorities still need information validity accuracy information getting faster faster way virtual organizations created wont significantly change think technology step pace adding new wrinkles new solutions technology brings us closer operating virtually enables consulting professionals work remotely clients ever could enables globalization think going dominant years come focused global companies company world global either customer base global vendor base global companies transactions outside regional national borders need operate globally assist clients face similar globalization needs helping achieve results success without boundaries past seemed easy enter profession perception put sign window said im consultant business dont think thats fair state profession think consulting inside minds particularly global companies sophisticated business organizations put lot line consultants choose believe consulting companies able deliver real value sustained basis ones still five years marketplace learned new technology plus new consulting firm necessarily result staying power firm staying power comes sophisticated business made experienced people provide lasting results randolph c blazer chairman ceo kpmg consulting inc manages employees within six industry lines business around world kpmg consulting provides internet integration services include strategy ebranding design web architecture integration technology enabling hostingoutsourcing blazer based headquarters office tysons corner va mr blazer joined kpmg llp consulting professional washington dc office named partnerincharge kpmgs public sector consulting group named member twoperson executive team directed kpmg consulting services february mr blazer helped leading consultants incorporate consulting group kpmg consulting llc mr blazer years experience strategic business planning performance management process reengineering largescale systems development support major government commercial clients client experience includes work federal agencies departments research universities government contractors major federal system acquisition programs prior joining kpmg mr blazer served captain united states army mr blazer received mba university kentucky ba economics western maryland college leading consultants working interface technology business pamela mcnamara arthur little inc chief executive officer inside minds rewards consulting research major pharmaceutical company showed one products originally developed treatment breast cancer could also effective prevention breast cancer since breast cancer major health concern company immediately realized importance getting product market quickly possible process typically takes months firm contacted arthur little inc help relaunch product take advantage new indications soon possible unusual assignment goal completing eight ten weeks challenging immediately assembled interdisciplinary team people half adl half client company rolled sleeves jumped feeling little daunted technical financial regulatory marketing barriers us project dubbed moonshot prospects success seemed well captured old expression impossibility shooting moon us driven extraordinary challenge immediate practical business goal urge us also clear us getting product market would save lives worked together leading consultants day night isolated hot cramped building far company headquarters called lem lunar excursion module apollo moon landing program brainstormed conducted analyses argued compromised developed plans took actions drank lots coffee succeeded product one first drugs used prevention form cancer made market eight weeks project captures best consulting profession extraordinary multifaceted challenge exceptional team client representatives together players learned lot made real difference company also society whole course elements show degree assignments always combination problems opportunities ive worked really made difference clients cases society economy central purpose consulting make difference called challenge need change innovate run daytoday operations inside minds process must listen learn central meeting needs client importantly ability build experience drawing upon deep industry business technology experience cornerstone future success essence professional satisfaction cant overstate importance teamwork job satisfaction personally rewarding experiences working together group others toward common goal collaborating team members firm well client staff personally satisfying whoever said two heads better one right mark one plus one plus one equals six business best career advice ever received focus whats important hold dear want make difference fortunately confluence elements consulting particularly rewarding therefore able blend personal business lives focusing care delivers real results financial strategic value clients leading consultants challenges facing women consulting course many men women consulting extent different expectations women partially different roles traditionally played society wives mothers example consulting inherently international profession values expectations vary widely across nations cultures ultimately however doesnt matter whether youre man woman particularly women becoming successful worldwide even countries still barriers full acceptance women tends understanding women playing leading roles many societies key dwell possibility barriers drawbacks focus instead developing competence confidence professionalism required job successful business stick important basics knowing territory delivering profits challenging clients think tough issues maintaining integrity paying close attention people aspects consulting listen well determine make sure results owned clients follow implementing skills ive learned men women professionals think consulting profession inside minds one best players bring characteristics table ive worked men women exemplify qualities good mentors make great deal difference adl ive fortunate fabulous mentors time number women joined firm back early eighties relatively speaking large number women professionals senior ranks think quite made difference coaching well providing inspiration role models organization time must make clear mentors role models women matters business deliver excellent results bring new business much learned men women succeeded profession differences among consulting firms consulting firm corporate culture personality arises key variables business focus approach organization history even size interest full disclosure views heavily colored spent virtually entire career leading consultants arthur little done particular culture place found personally professionally rewarding many companies successful focusing specific functional domains supplychain management accounting financial operations information technology example firms many quite large may embrace range specialties people expertise particular arenas developed rigorous methodologies work well adl something exception chief business focus intersection business diverse range technologies drive innovation society todays business press technology appropriated refer specifically information technology including elements telecommunications networks software computers internet adl embrace technologies ranging information technology underlying field electronics way biotech materials energy food technology focus arises firms historic capabilities research development throughout last century adl responsible development innovations first isooctane later adopted inside minds antiknock gasoline standard process making blown glass fibers led fiberglas first computerized inventory control package ibm design nasdaq stock exchange system london tokyo first fiberoptic interactive cable television system near osaka japan development environmental auditing continue develop products laboratories well partnership others current examples range lowfat ice cream incorporates fish oil associated significant health benefits novel medical device identify previously undetectable areas coronary arteries likely cause heart attacks system allows organizations monitor manage energy use greenhouse gas emissions across operations explosion research development industry universities increasingly formed basis new business opportunities throughout th century accordingly company expanded capabilities embrace broader strategic daytoday management implications work broad range technical fields also embraced issues venture capital startup management required bring ideas innovations market leading consultants broad sense businesses today hightechnology businesses hardly business decision industry central technological component product development manufacturing processes finance information systems environmental compliance packaging product distribution service delivery market analysis even management well organizational processes continue transformed technological developments handson technological focus yielded specific products processes given decidedly practical creative feel adls culture work nature tasks undertake approach require work close partnership clients whether developing introducing new product restructuring organization approach resulting culture reinforced fact often hire people extensive industry experience employ engineers scientists expertise technologies well experts classic functional areas strategy operations also seek people actually worked operations companies five ten years joined adl idea assemble multi disciplinary staff draw industry experience inside minds well wide range areas expertise may required address challenges clients face course reflects reality business challenges great majority inherently multidisciplinary adls health industries practice example goal work clients drive business technology innovation frontiers health medicine accordingly business model practice brings together expertise resources technology development commercialization venturing well consulting interplay among core elements provides driving force innovation area fundamental approach assembling individuals help company entire process innovation concept commercialization creates diverse culture adl demanding one rewards commensurate effort required meet demands art craft consulting consulting creative process base level course variety underlying skills methodologies support process true success ultimately depends finding build leading consultants go beyond latest management fads develop novel ideas insights provide real value client key achieving success lies might call golden rules consulting understand niche hire best people build strong team involve client solution communicate understand niche every consulting firm must first understand makes different especially crowded highly competitive market understanding forms basis every aspect business new strategic directions hiring marketing also sets bounds type variety cases undertaken adl example set apart firm grounding technology ive mentioned within context firm must provide latitude keep strengthening position developing complementary areas competency example either response even better anticipation changes inside minds marketplace may also necessary phase competencies market evolves keep business focused client needs firm best able meet process renewal weeding unprofitable capabilities developing new ones within context overall business focus must continuous needs client organizations changing continuously technical economic political environmental social forces shape society struggle carve niche consulting firms sometimes criticized role creating encouraging fads business management reengineering total quality management truth many approaches little repackaging core human organizational insights wrapped slightly different terminology processes underlying message real value consulting long leads quickly clear mutual understanding problems hand viable solution path get lesser importance hire best people theres adage says comes hiring good enough never consulting firms chief asset indeed real asset people assembling developing asset cornerstone success knowledge leading consultants experience threshold requirements many consultants deliver thats good enough critical difference difference makes successful consulting art people skills combination able listen well frame clients challenges accurately concisely beginning manage challenges clear expectations relationship evolves always take notice individual consultants great people skills high energy ability make things happen drive achieve tangible goals get things done openness flexibility working others theyre skilled drawing ideas others theyre clear setting managing goals expectations managing flexibility managing change persevere deal lot uncertainty facing clients dynamic challenging circumstances people best working uncertainty ones stand threshold expertise content knowledge need certain especially given companys business model added value thats beyond threshold makes individuals stand finally top consultants thrive challenging others challenged individuals contrary need theyre afraid take strong positions inside minds put positions table fully candid transparent way know theyre coming sometimes sets stage conflict conflict always based integrity often serves basis creative edge build strong team teambuilding essential art true foundation innovation creativity two principal reasons first great majority real business challenges interdisciplinary multifaceted starting new operation example may involve expertise product development manufacturing technology strategic management marketing name assessing dimensions problem crucial determine kinds expertise experience required provide realistic solution timely fashion bring together group individuals meet requirements second successful teams constant reminder whole greater sum parts properly organized managed groups people drive faster creative arriving solution problem team members coach one another challenge leading consultants solutions remain unsatisfied know reached top thats art makes difference successful situations cancer prevention product launch clear example team members client organization company intensively focused process individual credit doesnt matter theres ongoing highintensity highly creative dynamic tackling needs done constantly evolving interim objectives keeping ultimate objective clear involve client solution end client must fully understand embrace results consulting work best way ensure happens forge working partnership client overall goal work much client client process begins listening faster way win confidence another party listen partys needs interests demands concerns show listening framing challenge hand way reflects addresses aspects bring table deep understanding client industry also industries best practices drawn well business inside minds technology operations short know make things work crucial blend skills early stages set context remains important throughout entire project many cases best build team specifically involves client staff well consulting team staff guarantees allimportant client perspective expertise available throughout evolving course project client knows operational details business better outsider moreover client team members must become owners end results full understanding shortterm longterm implications firm people skills vital important recognize different strengths weaknesses individuals client staff consulting team staff theres good match fit task hand ongoing relationship beyond give individuals involved opportunities stretch go beyond whats expected look dynamic process like living organism takes lot care feeding check constantly various players client staff nurture coach consulting team leading consultants communicate integral involving client building effective teams communication client surveys conducted adl communication often cited important aspect relationship either key success area improvement excellent communication begins clear mutual understanding goals approach project continues regular updates establish manage expectations ongoing exchange information parties including updates client consulting firm presentation results often action summarizing progress reporting results actually stimulates enriches process synthesizing results leading insights clearer directions perhaps point communication critically important dynamic evolving nature consulting projects course implementing strategy uncommon variety aspects change including economic conditions market conditions operational results political developments emerging technologies given consulting also discovery process uncommon project team uncover entirely new aspects inside minds challenge midst addressing requires close communication among team members sponsoring client keep apprised developments frame expectations make adjustments toward revised goals relationship management although adl broad spectrum relationships companies many sizes wide variety industries firms tend achieve greatest benefits longterm relationships cut across one areas expertise consulting firm fact designed complementary nature typical business operation companies hire individuals particular areas expertise required manage routine aspects business effectively include research product development well strategy planning daytoday management adl assemble staff individuals broad range relevant areas expertise required help client change innovate providing industrywide well crossindustry perspective specialized management organizational knowledge familiarity broad variety technologies dynamics startup operations leading consultants given wide spectrum possibilities impractical client companies maintain staff new relationship working client long absence homework determine whether client organization good fit strengths direction portfolio services set goal example work leading biotechnology players health pharmaceutical industries weve developed capabilities connections keep us front edge innovation fields start working client organization already understand greatest needs needs best fit us whether longterm relationship many engagements client starting new relationship focus specific needs client process frame needs understand clients objectives client able address gaps relative importance filling gaps estimate timing determine explicitly tackle get done manage expectations evaluate results measure value satisfy clients defined needs inside minds key goal developing relationship longer term build true partnership even shorterterm projects important work close conjunction client firm melding perspectives areas expertise party building formal informal lines communication short term long term partnership model greatly enhances effectiveness relationship party develops deeper appreciation communication improves stronger sense mutual buyin emerges teamwork critical forming cementing relationships worked jointly project teams made client representatives well adl staff develop mutual understanding respect allows us move varied engagements clients longer history engagements make sure help technology product portfolios new growth arenas theyre charting developing cases well also help clients form alliances hot new leading technology players extending relationships broader network start working client consistent ways frame clients challenges first leading consultants timing determine important need clients nearterm longerterm strategic priorities also consider problem lies within defined business operating unit across multiple groups clients organization even potentially outside enterprise work understand dynamics complexity involved achieve results consider elements capabilities needed strategy organizational set issues operational related rd management product management innovation management maybe environmental management elements problem might lend product development technologies also size problem terms might find sources good ideas solutions develop clear understanding expertise team certainly staff know industry domain whether healthcare energy chemicals telecommunications example may also staff actually worked client organization understand dynamics culture many instances bring staff help discover might solution ideas leaders industries already working solve kinds problem client facing inside minds maintaining creative edge accelerating pace change world business community international research community society general developing maintaining expertise constant challenge consulting firm intellectual practical satisfaction maintaining edge however one great rewards profession consultants tend read voraciously seeking new ideas insights emerge around world many dimensions problems address important read broadly deeply international firm real plus regard allows staff keep abreast trends developments markets throughout world clients colleagues research many consultants also write leading industry business professional publications well including adls publications prism highlights achievements thinking staff well client partners addition uncommon firms prepare white papers key topics trends industry technology society often said writing thinking indeed action writing white papers articles important opportunity leading consultants synthesize broader lessons emerging work keep name associated thought leadership key fields important us strategically truth every case consulting firm undertakes learning experience key function many firms knowledge management organization cataloguing case experiences use proprietary resource future cases essential organization capture essence experience insights form remains within company inevitable event staff turnover staff turnover common throughout consulting profession individuals pursue new different challenges firms industries obviously turnover sometimes inconvenient time minimum level turnover say percent critical renewing enriching talent pool high performers also often net gain company since brings new ideas new experiences new areas expertise regularly bringing fresh faces fresh minds helps keep organization toes provides opportunities adapt quickly changing world networking must one key people skills consulting staff must ability maintain strong inside minds network relationships firms alumni universities journalists others staff must stay deeply touch marketplace talking listening variety companies clients network keeps abreast current thinking also used resource advice perspective contacts assistance hire good consultant youre getting individual range networks business academia keep fresh ideas fresh perspectives flowing contacts consultants learn absorb information see patterns put together new ways leading new insights approaches takes tenacity discipline make calls necessary keep checking networks hunger learning whats hearing others challenging others thinking key part consulting dynamic whole host collaborative tools appearing help consulting firms maintain edge number firms including adl spinoff developed internet based tools complex project management allow disparate groups work together realtime multifaceted projects software packages make easier teams set goals share information report progress synthesize data respond dynamically leading consultants inevitable changes new developments course project practices well help consulting firm stay sharp training important course regular formal channel designed keep flow new learning experience coming company serves spread experience new staff well rising career stages time time also run bestpractice surveys attend meetings conduct number business roundtables executives run workshops clients others stay touch universities occasionally sponsoring initiatives research finally client feedback crucial aspect process staying competitive edge many firms adl maintains welldefined process soliciting assessing clients views performance presents clearer picture right also better leadership management turbulent times live world times turbulent either first great lesson st century last great lesson previous century accelerating inside minds pace economic social political environmental technological developments todays world change become norm businesses course presents host challenges opportunities consulting firms clients seek understand nature emerging developments either accommodate leverage innovative fashion marketplace change advising managing particular province consulting firms organizations strategies buffeted much clients particular challenge industry stay step ahead management businesses well advising others economy goes cycles advances science engineering open promising business opportunities new businesses industries emerge mature industries struggle adapt reinvent must prepared assess importance changes clients key elements summarized help company maintain steady course midst push shove todays competitive marketplace leading consultants leadership becoming senior leader adl important embrace differences management management consulting running company even consulting company running consulting project mentioned skills insights consultants complementary clients serve consultants provide knowledge experience management technology required help firms innovate adapt change anticipate change requires broad deep context technological developments industrial practice company operations local national economies organizational change best coaches sports necessarily best players best managers always best management consultants nonetheless lessons consulting much bring task leadership face challenges opportunities turbulent world applying insights experience however easier said done organizations accustomed dispensing advice receiving moreover consulting firms inherently outward professional focus concentrating energy client challenges internal needs may neglected inside minds overriding philosophy mine leader servant organization whole leader serve manner group whole better advancing achieving goals promoting good organizational health vibrancy businesses leader consulting firm must vision personally organization must deliberate effective execution must strong people skills need good listening building consensus youre building team also recognize decisions made expense consensus shared values successful teams go hard work understanding characteristics qualities shared beliefs inherent work goals theyre striving achieve agree roles expectations contributions team members relate participate team common major goal vision stretch capabilities flexibility takes playing full reach adls shared values emerged long history include genuine drive innovate passion leading consultants excellence spirit collegiality commitment integrity values consistently formed underpinnings approaches marketplace evolved time point vital companys success years crucial part attracts holds employees company able preserve institutionalize core values sustained us many changes indeed become part adl brand balancing strengths smart consulting organizations maintain portfolio clients industries time mix industry sectors client organizations help firm normal client business cycles also useful maintain range services may appropriate helping client tighter times help company take advantage better times deep strengths energy sector telecom sector example years ago energy sector tough time lot work help oil gas clients solve problems problems resolved lulls clients redirected focus telecommunications business started massive inside minds growth cycle last several months telecommunications sector facing rough times weve shifted focus clients current needs meet time weve strong energy business energy sector growing becoming highly profitable balancing strengths inherently dynamic process businesses go cycles underlying technologies driving innovation spring mature fade away balance strengths also crucial client relationshipbuilding process remains important times whether company well tightening belt whether engaged specific project keeping touch firms times keep aware challenges facing offer assistance current emerging capabilities overlap needs setting business goals goal setting constant iterative process setting goals company activity periodically refresh think sessions work sessions top staff brought top leadership team also leading consultants provocative thinkers business part periodic strategy budget operations planning cascade plans goals business way invites input response process enriches vision direction company also helps set context promote clearer understanding specific goals measurable objectives metrics use track business communication constantly reinforce goals objectives values accomplishments well communications staff head global communications company works closely business leaders frame internal communications staff also external communications along major dimensions business strategy operations achievements people business constantly evolving refreshing communicating plans seeking input staff keeping open channels communication formal informal essential business relies cooperation participation network partners associates inside minds taking risks taking risks key anticipating future although essential dependable healthy practices count must also take risks push ahead new domains growth areas gambles pay well others considered strategy risktaking go long way toward promoting long term success example early mids adl invented field flavor analysis led significant portion business also first develop concept environmental auditing recently firm active creating spinning companies capitalize ideas generated inhouse partnership firms hiring another form risktaking hiring individuals often looking people given free rein go extra mile developing novel approaches addressing client challenges similarly important maintain enough flexibility consulting organization allow individuals test new ideas approaches markets experimentation pose risks also lead better job satisfaction innovators better results clients new opportunities company leading consultants future consulting arthur little dropped massachusetts institute technology three years founded company idea industry may time time need help exploiting potential emerging technologies businesses indeed technological advances everything plastics pharmaceuticals computers electronics new approaches manufacturing formed cornerstone vast variety business innovations th century virtually every industry today ever technology remains cornerstone business innovation increasing pace developments growing range areas including semiconductors biotechnology telecommunications renewable energy advanced materials name advances continue major implications strategy organization product mixes marketing approaches new business development industries ranging retail energy resources accelerating pace change coupled increasing worldwide competition means growing need business figure make use advances happening labs gain edge existing operations move entirely new directions inside minds information technology exceptional potential widespread application business computers software first technology broadly embraced specialty consulting industry late enormous new consulting market burst scene help companies exploit power telecommunications internet outgrowth information technology promises expectations outpaced reality however leading collapse market casting pall entire consulting industry dotcom bubble however underscores strong need organizations cut hype provide realistic substantive advice potential emerging developments question internet telecommunications advances transformed business worldwide continue reaping rewards transformation require keener understanding broad combination underlying technical management communications issues many dotcom firms sprang exploit technology great deal technical expertise enough knowledge experience business management able capitalize effectively help clients capitalize effectively side many client companies grasped upside business potential leading consultants hired dotcom firms help didnt technical expertise exploit combination fueled bright expectations disaster one legacies dotcom phenomenon companies looking depth quality found mainstream consulting firms moreover looking consultants solid business experience days freshly minted mbas advising corporate giants past todays clients seek consultants time hone skills insights industry consulting business continue st century ever important companies work consulting firms sift burgeoning array emerging technologies determine commensurate goals best fit business technology end means end real goal incorporate appropriate element overall business strategic plan especially exciting finding ways move technology applications one arena another enable us open new frontiers interesting note makers vacuum tubes recognized potential semiconductors entirely new companies biotech burst scene inside minds mids university labs caught many established pharmaceutical companies surprise applications computers semiconductor chips expanding new areas almost daily basis information technology crucial element emerging fields bioinformatics proteomics ability harness opportunities depend people deep expertise areas also skills people skills implementation skills work multiple diverse groups make happen going see companies realize cant solve problems weve seen myriad merger acquisition waves every industry well different patterns alliances partnerships many achieved minimum overall results disappointing lot new effort work across enterprises harness existing skills insights innovations technologies explore ways chart path turning relationships exciting valuable profitable business propositions broadly key challenge consulting firms deliver clear value clients particularly tighter economic times times mounting competition client companies want ensure receive significant benefits money spend consulting today time fads results leading consultants past company might able make promise client basis image reputation today challenged explicit around managing demonstrating value proposition ability deliver value proposition assurance based hard economics quality depth personal relationships make partnership consulting firm client demand substance accountability reinforces need consulting firms develop working partnerships clients getting immersed implementation well analysis accommodate complexity inherent business challenges partnerships may involve parties complementary expertise well armslength relationships past likely become less prevalent increasingly clear may new fresh insight today might previous years half life three six months date matter weeks succeed individuals firms best anticipating next set changes adapting working effectively across enterprises many types people putting ideas practice accountable results moving meet next set changes successful consultants inside minds able help client companies place bets take options theres single answer approach world winners ones flexibility creativity shape approaches meet demand even grasping changing needs emerging opportunities consultant arthur little years pamela mcnamara became ceo august acting ceo mcnamara cut corporate costs nearly million restructured adls management consulting operations improved companys profitability point maintains healthy backlog sales ms mcnamaras areas professional expertise include operations product management launches supply chain management business process redesign tenure adl served head adls north america management consulting operations leader adls global health care practice managed largescale projects multinational clients pharmaceutical medical products industries served firms board directors since leading consultants overlap circles maximizing three elements strategy consulting business dr chuck lucier boozallen hamilton chief growth officer senior vice president inside minds people passion profits consulting business first foremost helping people succeed people inside client organizations well people firm intelligence deep expertise analytical skills matter course theres shortage smart analytical experts across leading firms like boozallen firms success depends sincere desire consultants help others succeed enjoying enabling successes people always distinguished truly great consultants clients course come first boozallens market research confirms successful consultant knows senior executives select consultants trust work trust grows mutual success collaborative efforts consultant helps clients organization repeatedly achieve significant performance improvements pressure shortterm performance executives cant afford consultants merely rubberstamp ideas need consultants listen understand empathize challenges collaborate develop implement successful answer successful consultants combine ability help client organization win sincere interest helping individuals within organization succeed leading consultants consultants best clients always people already helped succeed putting clients needs first individual organization consultant ultimately becomes trusted advisor client ive worked occasionally past years called recently said really need help considering major acquisition make break business involved personally trust doesnt get better helping people inside firm matters best colleagues like best consultants people helped succeed top management consulting firms recruit truly amazing young people fun part challenging people stretch try accomplish think career know grow learn every day try stimulate rapid continuous development everyone boozallen course requires time commitment part senior consultants recruiting process make personal commitments people would like hire promise join boozallen ill help grow successful possible career whether boozallen elsewhere many colleagues boozallen well many clients people kept commitment inside minds consulting especially strategy consulting apprenticeship business people learn consulting skills observing great consultants assuming increasing levels responsibility watchful eyes experienced seniors helping others grow fun enlightened selfinterest altruism didnt motivate master craftsmen medieval guilds take apprentices motivates recruit new associates consultants like master craftsmen old need apprentices help get work done skilled apprentice becomes freeing experienced master concentrate demanding tasks help colleagues develop superior skills concentrate activities best team succeed profession business make mistake starting point may helping people consulting business like business measure success bottom line profits matter turns helping people good business fifty years ago jim allen one founding partners boozallen hamilton marvin bower man shaped mckinsey engaged famous debate leading consultants fundamental nature consulting profession business bower arguing side consulting profession insisted consulting firm like successful law firm focus right things clients people development ideas industry firm fulfilled obligations profession business would take care allen took opposite position consulting argued business like successful business like clients allen argued consulting firms must offer attractive value propositions stakeholders deliver short term performance transforming long term success allen bower right doesnt matter start profession right thing business offering attractive services answer one joys consulting right thing always right thing people matter profits matter real understanding consulting industry requires discipline strategy consultants bring client work inside minds structure consulting industry traditional segmentation consulting industry strategy operations technology never made sense confused clients confused recruits confused consultants strategist group large consulting firms three segments different economics based different approaches different sorts problems strategy firms accounting consultancies call application consultancies strategy firms mckinsey boozallen hamilton boston consulting group bain focus developing unique answers problems highest risk greatest longterm impact business unit strategy prototype sustained superior profitability requires strategy distinct competitors grounded underlying economics skillfully executed clients pay premium prices strategy consultancies help craft implement unique competitively advantaged strategies course strategy consultants dont limit business unit strategy tackle strategically important problems require unique solutions eg organization customer relationship management pricing strategies large strategy firms derives majority revenue one types service offerings mckinsey overhead value analysis overhead cost reduction bcg leading consultants reengineering focused winning timebased competition boozallen supplychain management crossfunctional solutions strategy firms seek work people inside organizations make support strategic decisions decade ago meant fairly small group people ceo coo business unit general managers bugms strategic planners today intensifying competition flatter organizations pushed strategic decisions broader set individuals within client organizations opportunity work larger diverse set people within given organization accounting consultancies accenture andersen deloite touche price waterhouse use standard repeatable approaches help clients achieve operational improvements quickly minimal risk reasonable cost typically involving selection implementation information technology kinds operational improvements require tailoring eg links legacy systems focus primarily delivering general capabilities rather unique solutions broader scope given standard approach greater accounting consultancys revenues cases majority revenues types firms accrue single business problem year ie computer programs unable deal dates inside minds installation enterprise resource planning systems sap baan outsourcing corporate information technology departments scaleintensive overhead functions also major growth engine consultancies economics accounting consultancies depend standardization whereas strategy consultancies average eight staff per partner accounting consultancies staff per partner low leverage ratios strategy firms enable senior staff partners stay intimately involved details analysis recommendations contrast high leverage accounting consultancies defines economic model way provide partners compensation want clients prices expect generating fewer margin dollars across much larger number staff environment standardization way ensure quality accounting consultancies target cio functional managers traditionally lucrative target cio one functional executive spent significant consulting dollars line managers become computer literate cios making fewer decisions consultants accounting consultancies focusing business unit general managers leading consultants third segment ones call applications specialists kearneyeds ibm hp oracle eycap gemini sas consulting divisions hardware software companies companies consulting supports base business creates demand hardware software products increases value customers receive hardwaresoftware accelerates customer use latest releases hardware software raises customers cost switching competitive hardware software generates additional revenue profit stream typical consulting activities include selecting installing applying hardware software example sas consultants helping clients marketers use software data mining addition three segments large million revenues consultancies plethora small niche players represents half consulting industrys revenues majority firms single individuals consultants left large firms retirees consulting former employers remaining small players concentrate one two specialties defined either industry functional area principal advantages firms stem size minimal overhead human scale everyone knows everyone else inside minds small firms suffer three significant disadvantages first suffer feast famine cycles individual rainmakers tend alternate periods intense selling periods work hard maintain balance selling hard pay bills rainmaker selling phase cycle contrast many rainmakers large firms move different cycles ensuring better use staff second small firms cant help major corporations affect change globally since neither breadth skills required necessary geographic footprint since major corporations represent percent consulting market small firms serve limited portion market third small firms provide suboptimal development opportunities people chance work extensively one area opportunity develop broad skills enable person become general manager consequence disadvantages small consulting firms experience enormous turnover one individual may consult two three years move something else another individual decides become independent consultant leading consultants evolution consulting industry three broad trends reshaping consulting industry growth technology changes serve clients consolidation technology particularly information technology become pervasive business information technology either enabled driven companies strategic priorities last years result itrelated consulting accounted much consulting industrys growth surprise applications specialists represented fastestgrowing segment period followed accounting consultancies slowergrowing strategy segment firm taken different approach boozallen created strong information technology business linked strategy work information technology represents onethird revenues commercial clients even larger proportion work government clients mckinsey tried unsuccessfully far since mckinseys acquisition small firm icg failed gone back trying develop skills organically bain accesses skills series alliances called bainnet bcg continues eschew technology remaining focused strategy inside minds second less obvious trend reshaping consulting successive waves change transformed nature work clients people usually talk waves terms new service offerings business process reengineering bpr ebusiness far powerful think terms changes nature valueadded consultants rather terms new serviced offerings introduced joined industry provided clients advice delivered reports im proud clients implemented least tried implement recommendations industrywide reality recommendations werent implemented advice course still constitutes important part consultants valueadded center mass consulting activity shifted fundamental way time toward valueadded next three paragraphs deliberately oversimplifying industry describe changes late consultants began including clients integral members consulting team embracing change management disciplines understanding buyin client organizations increased clients genuinely tried implement industrys recommendations still struggled interpretation implementation example ceo client many years said beginning leading consultants every month reread strategy three years ago think ive finally figured meant dot point pointed page report right saying bpr wave consultants began directly helping clients change way business worked clients build capabilities knowledge business processes supporting information technology required deliver value customers clients benefited two ways first working together client affect change closed gap interpretation implementation second shifting giving clients answers improving ongoing performance provided greater recurring benefits analogous old chinese proverb give man fish feed day teach fish feed lifetime recent wave ebusiness consultants moved beyond capabilitybuilding began partnering clients develop business fees increasingly became function clients results equity share venture dotcom crash brought wave premature conclusion contributing recent slowdown growth consulting industry united states inside minds third trend changing consulting industry consolidation concentration ratio consulting industry didnt change proportion industrys revenue represented top five firms top ten firms top firms didnt change past six years however number firms revenues million dropped significantly financial pressure falling revenues contributing decline mediumsized consultancies collapse ebusinessoriented consultants scient viant provides spectacular examples pressure medium sized firms far lasting trend mergers mediumsized firms extremely strong one geography industry service offering larger consultancies example two years ago carta one leading management consultancies scandinavia merged boozallen merger extremely successful carta retained local client base together weve significantly increased share global business multinationals based scandinavia pressure mediumsized firms course classic symptom industry consolidation however broad consolidation consulting industry slow megamergers principal vehicle rapid consolidation industries dont work consulting view nomerger two major consulting firms successful long term mergers may leading consultants succeed years principals acquired firm continue drive business acquiring firm typically insists three fiveyear earnout ensuring principals active initially earnout period complete principals leave value acquired firm plummets people business whats value firm without best people future consulting future consulting changing client demands fueling fundamental change consulting industry clients demanding increasingly tangible lasting results fast results contribute companys competitive advantage today customers shareholders best employees need demand rapid improvements performance organizations naturally produce example united states decade median average performer among sp sustained annual earnings growth percent annual revenue growth percent three times growth rate global economy also addressing greater expectations workers citizens increasing organizations ability change meet rising demands stakeholders challenge leaders inside minds consultants face challenge raise game help clients raise game one client told us last year old ways dont work need ideas actions paradoxical elements need synchronized harmonized clients need clear solutions complex world longer luxury addressing issues sequentially dealing cost reduction recession example focusing growth later need immediate performance yield lasting advantages old paradigm developing insight first acting second longer makes sense effective strategies evolve series actions create exercise options major decision stimulates new strategic insight drives nearterm actions example understanding possibilities limitations technology crucial development strategy realizing benefits technology requires interrelated changes strategy organization operations marketing change paradigm implies redefinition consulting industry traditionally clients hired strategy consultants create insight accounting consultancies help actions never effective division labor accounting consultancies implemented systems created business value strategy consultants sometimes leading consultants created recommendations without recognizing difficulty implementing today clients need consultants truly combine strategy technology insight action shift toward delivering tangible value pricing consulting industry midst irreversible change management consultancies traditionally charged fixed fees weekly rates based number expected hours team would work increasingly fees depend value clients receive either fees explicitly tied results consultant equity share aligning client consultant incentives winwin clients avoid paying big fees unsuccessful consulting engagements consultants always deliver highquality work earn consultants motivated accept engagements confident adding great value believe client able make requisite changes realize benefits bain industry leader nontraditional pricing starting bain capital lbo fund years ago bain accenture leading ongoing changes industrys fee structure past years consulting one innovative industriesdelivering significantly greater benefits clients per dollar consulting spend fueled double digit growth also increased inside minds compensation consultants industrys future depends continued rapid innovation theres doubt significant innovation occur innovations powerful consultancies benefit open questions consulting culture consulting firms remarkably different cultures remarkably business serve clients hire places differences also remarkable put clients first communicate similar ways perform similar analyses biggest differences course segments strategy firms organize operate around partners know institutions strategy consultancies strive two degrees separation people firm partners know partner knows eight staff nearby anyone reach anyone contrast accounting consultancies given focus standardization emphasize size organization structure formal processes number partners much larger partners cant know firms employ formal tiers partners rights others finally application consultancies leading consultants divisions major corporations significantly hierarchical processdisciplined strategy accounting consultancies differences culture within segment nearly great across segments question better worse right wrong cultures different example within strategy consultancies bain early embraced culture said team unique view world spend time together socially buy suits place much alike thats good thing lets us kind impact changes world boozallen extreme far heterogeneous large firm three segments people could fit firms segment result also many people wouldnt work one strategy consultancies embrace diversity boozallen culture says great thing place different love work people know stuff dont know projects learned ones outside area square peg round hole boozallen allows actually requires people shape career paths find mentors committed success inside minds highlight different dimension firms like mckinsey operate locally wherever possible people staffed engagements near home cities people must comfortable working variety issues multiple industries opportunity work people contrast boozallen operates transcontinentally ie across us across europe good news person better chance finding opportunity matches wants needs greater opportunities specialize industry functional area learn broad variety people bad news travel likely greater art consulting art strategy consulting cant speak segments expressed developing workable recommendations based objective analysis help stimulate beneficial change client organization wheres art statement weaving together three independent strands activity objective analysis development workable recommendations stimulating beneficial change client organization twenty years ago sequentially first objective analysis development recommendations leading consultants finally managing change organization even consultants art thinking three strands integrated way although engagement might start broad set diagnostic analyses consultants quickly narrow analysis issues make material difference recommendations might evolve possible analysis possible recommendations could powerful enough justify additional analysis recommendations theoretically interesting really relevant client implementability recommendations matters outset key client executives share view emerging analysis difference view really affect recommendations analysis demonstrate view right obstacles implementation recommendations reshaped increase likelihood successful implementation clients might zealots lead implementation recommendations concerns continually juggling analysis recommendations change challenge best times real art consulting bring three strands together difficult situations situations consultant add value example inside minds strategy engagement head one general electrics business units someone division years believed business performing well possibly could required corporation engage consultant atypical circumstance analysis quickly pointed major improvement opportunity business unit general manager refused believe could help business unit change face adamant opposition general manager case concentrated believed one absolutely crucial analysis refining refining clients accounting department absolutely sure accurate beyond possible doubt spent hours manager oneonone working sidebyside conference table went every number answered every one questions analysis held convinced general manager proceeded drive rapid implementation broad change program doubled divisions profit within months know focus quickly one analysis know analysis confident rolling sleeves working analysis manager would change mind thats art consulting strategist often help companies change rules game industry exciting work seeing leading consultants clients change world personally rewarding kind work demands true artistry analysis looks backward showing world worked past combining analyses creating powerful models possible understand key levers might change rules game industry ultimately one prove something one industry done given limits analysis shape recommendations client might help leaders client organization mobilize company try something never done art consulting become consultant become consultant consulting weird business despite industrys best efforts none us able effectively communicate really like consultant result experience cant really evaluate whether youd successful consultant consulting firms limited ability judge potential consultants longterm success even strategy firms percent people hire become partners accounting consultancies proportion much lower hire people believe inside minds potential prosper consulting make relatively hiring mistakes people hire successful associates next six seven years percent people decide would successful happier pursue different career much uncertainty doesnt make much sense individual try assess longterm success consulting sure pay good opportunities growth excellent question people considering consulting ought becoming consultant next three four years maximize career options employability value proposition consulting recruits continue fast track corporate senior management successful managers large corporations startups call zealots capable simultaneously delivering todays results increasing organizations competitive advantage tomorrow motivating people fulfill future vision past corporations defined distinct roles manager strategist change agent todays faster pace change greater demands performance roles cant separated leader continually trade improved performance today changes improve tomorrow since measurement reward cant evolve fast enough people trust leader recognize reward leading consultants new behaviors required company enough zealots consulting especially strategy consulting attractive career ever ideal place learn zealots skills recent research learning suggests takes hours practice become gifted amateur hours become leading professional interestingly amount practice required similar wide variety pursuits including golf music chess hypothesis amount practice necessary learn skills business three years consultant attain gifted amateur status strategy leadership experience would take two three times long acquire corporation admittedly managerial skills pl management dont develop much faster consulting firm corporation since strategy consultancies entrepreneurial five years consultancy sufficient attain gifted amateur skills management along professional level skill strategy leadership worlds best training zealot lifestyle principal downside consulting career strategy consulting unpredictable work demanding urgent problems problems clients often wait long address unusual ceo call ask meeting saturday sunday ask inside minds team begin immediately good news engagements address clients urgent important issues challenging rewarding consultant bad news never know client call need immediately became consultant college professor professor home kids every night coached little league soccer consultant cant commit coaching athletic teams theres much danger client call away wont able fulfill responsibility work hard help people manage lifestyle limit days away home increasing proportion people work parttime levels including partner weve created career paths predictable hours travel lifestyle continues one major reasons people leave consulting difficult part consulting least lifestyle isnt difficult part consulting lifestyle manageable draw enforce lines home birthdays anniversaries dont come back vacation traveling interesting places take family significant stay weekend words find ways make consulting leading consultants lifestyle work consulting provides host unique experiences take advantage difficult part consulting delivering tough messages people firm since isnt one standard career path boozallen provide frank feedback whats working isnt people chart productive course feedback sessions positive honest constructive feedback enormous value person receiving even people leaving boozallen dialogues almost always positive vast majority people leave firm make natural transition consulting general management either great offer cant refuse change desired worklife balance thats happy event us alumni among best clients isnt always easy truly painful important aspect helping someone understand would successful career consulting learned importance early career one smartest recent hires couldnt figure art consulting started encourage look opportunities outside consulting pleaded even theres onepercent chance ill successful boozallen want continue try although made significant progress inside minds following year painfully clear would much successful general manager turned true become extremely successful manager hightech business however didnt good job counseling colleague suffered unnecessary year us delayed start hightech career best advice consultant best advice someone consulting overlap circles circles think three elements strategy consulting business clients team intellectual capital circles new consultants assume tradeoff among three circles hours day spend developing clients dont time develop ideas team thats wrong sure theory strategy firm could develop three circles using differentiated roles focus people development ill bring clients susie develop best ideas practice strategy firm differentiates roles way every consultant needs clients essence consulting every consultant needs ideas find unique answers clients need develop people part large teams deploy tackle clients complex multifaceted problems leading consultants strategy consulting people strongest three circles simultaneously easy think gift studied successful consultants found behave different way people less successful overlap circles action took simultaneously contributed developing clients ideas people tradeoff example ideas publish stimulated client work often write articles clients deepening relationships write teammates helping develop skills publications cause new clients call us also stimulate intellectual growth people offering juniors chance assume seniors responsibilities simultaneously provides development opportunity junior frees seniors time client idea development working client team educates teams theyre great development opportunity presenters us audience discussion stimulates new ideas broader understanding clients challenges agenda team able add value engagement principle overlapping circles also helps worklife balance example kids college led boozallens recruiting kids schools inside minds winwin firm valued time spent universities getting know faculty making presentations meeting students also spent time kids went schools visit children also made effort meet students faculty whenever feel overwhelmed done look ways better overlap circles ideas knowledge throughout chapter ive focused people inside firm clients strategy consulting also knowledge ideas ideas knowledge raw material strategy consultants use craft powerful unique strategies clients twenty years ago michael porter argued companies could pursue one three generic strategies low cost product differentiation brand today successful companies innovate applying knowledge technology business models craft execute newto theirindustry strategies knowledge increasing exponentially field strategy today far broader porter imagined leading consultants said important recognize consultants like engineers scientists scientists develop test powerful new theories strategy consulting thats role academics handful gurus try play consultants like engineers try make things work using theory wherever possible experimenting creating rules thumb theory inadequate business help clients successful use new theories created academics gurus theyre powerful absence theory develop rules thumb based experience consulting firms firms chief knowledge officer well current role growth officer im responsible boozallens creation use knowledge target several major studies year descriptive understand companies thinking largescale efforts create test new theories however studies small part knowledge activities exception handful boozallen gurus systematically look outside firm new science powerful ideas apply internally focus understanding clients changing needs new powerful solutions weve developed one client may applicable clients arent competitors new adaptations inside minds methodologies rules thumb literally hundreds improvements innovations year knowledge usually connotes explicit understandings however strategy consultants important knowledge better reading latest theory access person whether inside outside boozallen help adapt apply theory specific situation better statement methodology expert help adapt clients issue world class engineers consultants hours experience class problems central competitive advantage strategy consulting firm ensuring best expert area addresses demanding problems simultaneously provide best possible answer clients problem enhance experts learning even ideas strategy consulting people helping people dr chuck lucier senior vice president boozallen hamilton based new york part boozallen years dr lucier selected consulting magazine one influential consultants leading consultants dr luciers client work focuses corporate business unit strategy issues clients variety industries addition client work dr lucier boozallens chief growth officer responsible firms marketing commercialization intellectual capital author coauthor book articles appears frequently speaking platforms dr lucier served variety leadership positions boozallen including firms first chief knowledge officer leader consumer products retail practice managing partner cleveland office eight years twice member firms board directors dr lucier launched awardwinning strategybusiness magazine place find best ideas business sponsored boozallen prior joining boozallen dr lucier assistant professor university iowa holds ba wesleyan university phd university rochester sm management sloan school mit leading consultants art consulting figuring right dietmar ostermann kearney chief executive officer inside minds challenges management consulting profession think industry today think really two sets challenges enduring ones part management consulting since professions infancy new set created unprecedented amount change washed business world last ten years daytoday basis id hard pressed name another profession challenging management consulting work many different industries varied challenges youre called upon solve countless types problems even clients industry would seemingly problems individual companies invariably different culture organization process solving respective problems entirely new theres routine follow second continuing challenge profession issue recruit develop motivate talent asset management consulting firm possesses people work one chief priorities attracting retaining best people field good ideas means need smartest creative consultants leading consultants far new challenges go perhaps first amount specialization required years ago management consulting like general practitioners medical practice consultant dealt variety clients hurting tried apply problemsolving ease troubles kind generalist approach become thing past industry become mature highly educated specialized consultants today consultants need deep industry expertise even asked table addition need specialized skills expertise mergers acquisitions example maturing market brings set challenges opportunities geographically industry maturation market penetration varies widely united states united kingdom australia probably saturated consulting markets today fact little growth market united states parts europe different story particularly italy france spain percentage gdp management consulting developed united kingdom united states accordingly markets experiencing significant growth example enjoyed percent growth rate inside minds italy year france number probably percent percent biggest growth potential asia view japan korea china offer huge potential japan second largest industrial nation resources investing management consulting still relatively insignificant though economic problems japan experiencing business community opening beginning take advice outside management consultants american business community years thats translated percent growth rate us korea slightly different story unlike japan easier market global consulting firms americanized asian nations traditional business structures korea conglomeratestyle chaebols breaking creates significant restructuring issues result korean businesses hiring consultants left right opinion korea offers lucrative nearterm opportunities management consultants china course offers biggest opportunity right away soon perhaps five ten years worlds populous market kearney taking action seize opportunity leading consultants todays technology overshadowing changes course complexity todays technology technology become integral part business indeed inseparable business added new layers complexity consulting profession consultants constantly need adjust go solving problems nature solutions provide changing technology consulting longer forms separate category become embedded every strategy operational engagement isnt business process hasnt touched internet today therefore cannot credibly provide company strategic operational consulting unless understand internet particular business fundamental critical regard kearney well positioned parent company eds relationship gives us capability understand internet business processes today thats think strategic alliance made eds six years ago great thing us eds help people understand deploy technology way able first years existence inside minds technology become integral part management consulting engagement going lead industry consolidation consulting profession future management consulting without ability understand implement technology also major driver growth industry supplychain integration online procurement ebusiness strategy formed huge markets last ten years seeing next generation come along internet wake call every single process changed must understand changes risk giving clients wrong advice need understanding become dramatic time ease information gathered technology clients becoming experienced field management consulting learning measure results accurately believe future fees service arrangements changed success feebased structure already see today contingency arrangements thats another reason consolidation private partnerships cannot finance arrangements leading consultants art consulting techniques success common industry describe management consultants merely problem solvers management consultant listens issues finds root causes problems analyzes develops solution thats full story often companies dont hire management consultants simply solve problem actually help implement solution engagements people skills project management skills relentless drive get project implemented finished become critical also often help clients manage succeed turbulent markets process much less mysterious might sound isnt industry company cant make money economic environment right figuring right art profession current downturn united states economy well advised adequate capacity flexibility products services offer consulting firms clients alike obviously growth situations identify different parameters learn much many industries good times well times economy gets inside minds better worse learn consultants adapt different situations working sidebyside clients kearney extremely resultsoriented quality focused thats essence brand kearney stands results quality consulting work want known executive circles whole company consultants brought tangible bottomline results increased economic value client company assignment growthoriented want show created new markets increased share assignment focused cost savings want show increased profits working processes want results measured improvements efficiency productivity thats handson toearth approach also pride broadest depth quality system consulting world recently gave another boost putting internet thanks available times quality commitments largest accounts currently serving based input clients every morning go work check dashboard see status take appropriate action thats measure success leading consultants consulting skills need particular set skills successful consultant first course must intellectually curious sharp otherwise problemsolving piece doesnt work well intellectual brilliance definite plus cant outspoken delicate balance must achieve sell work also need socially competent people business sell implement solutions results well clients constantly interacting people team clients team knowing read people get along important intellectual capacity must able move organizations next stage constantly contact team client convincing persuading influencing questioning information get back depends quality questions ask need drive desire succeed speed flexibility things change quickly must able respond accordingly inside minds also critical us populate teams experts know clients particular industry operates need people deep domain knowledge analyze problem assemble people content expertise required solve financial problem need someone background finance problem operations call someone manufacturing supplychain knowledge global organization percent business outside united states always local representation teams consultants highly capable individuals intellectual social skills usually grasp concepts quickly also walk around organization making individuals feel comfortable drawing understand problem much better surprising management consultants drawn top mba schools profession truly requires best talent world consultants incredibly hardworking expect lot drive consultants hire dont work eighthour day usually work hour days clients problems critical need fixed timely basis usually time client decided use consultant behind schedule always said start second shift clients go home leading consultants effective team allowed access information client company trusted clients pay well management consulting services since expect great deal return usually realize open access information necessary problems adequately addressed limiting access information usually limits success operating business wouldnt successful least percent percent consultants werent busy time number people available engagement limited hope everyone busy assignment client urgent problem going wait three months us able start assignment time want start yesterday consulting lifestyle best advice received father inlaw accomplished football coach said look behind theres one chances youre leader remember every day thats advice gave best advice give others balancing life work thats critical issue dont foresee ever resolving good inside minds management consultants time constantly demand youre working heart larger corporations problems cant suddenly say im taking two weeks vacation call two weeks meantime company runs deep trouble thats way go medical analogy child born youre obstetrician someone needs major operation emergency needs take place two weeks similarly bound management consulting profession started consulting years ago chic hardworking person private life consultants reached age called kids kids would say dont time im meeting friends suddenly children grown hard working consultants hurt see theyve missed like believe doesnt way father four children two eight years old time management skills professional life also private life important thing much quantity quality believe smaller amount time leading consultants spend family highquality intense many people spend longer periods time families cant assume youre going home every night six doesnt happen profession every weekend unless firm crisis entirely free family wife likely disagree adhere schedule percent time important history leadership im sure im qualified tell best way reach top business consultants usually necessarily best managers theyre ones analyze problems recommend solutions successfully running company requires rigorous management style execution followup two different skill sets people managers great intellectual strategic thinking problemsolving capabilities consultants managerial talent usually ones happen rise fast achieve management positions case simple happened right place right time three times first became inside minds head german office three years later head europe one year ceo great respect predecessor fred steingraber grew business million billion started endeavor kearney middlelevel chicagobased manufacturingconsulting outfit fred vision growth management consulting industry back million revenue fred said billion firm achieved vision wild vision grow company much years supplying kind vision ceo must leadership kearney fred stood vision incredible growth also spearheaded globalization firm moving first europe japan rest asia fred opened offices anyone else kearney ceo chairman eds report dick brown also shown incredible strength managing eds thats eds needed twoandahalf years ago came changes dick made processes rigorous leading consultants golden rules clients consultants would say three golden rules clients first consultant selected critical establish open trusting partnership need room breathe successful micromanage consultants afraid might spend instead better advised hire consultants first place second theres thing consultant project every project shared consulting fails heavily supported ideally led client team results owned organization implementation becomes much easier third need frequent heavy interaction keep effort right track consultants drive project usually work best people client organization consultants tremendous amount push client advised daily weekly interactions team remain current make appropriate decisions consulting assignment takes unanticipated turn consultant think two key pieces advice inside minds first flexible interested constant challenge like things set stone dont go profession wrong choice need someone seeking new challenges every day life thats industry rewards tremendous second fun consulting consider longterm career instead steppingstone another career industry need bit experience really good profession hire best mbas possible takes two five years really understand industries understand methodologies become really effective profession much rewarding youre long run dietmar ostermann appointed chief executive officer kearney management consulting subsidiary eds november reports directly eds chairman ceo dick brown ostermann fifth youngest ceo first european head kearney year history ostermann named managing director kearneys operations europe may previously served kearney unit head central europe responsible operations austria czech republic leading consultants germany hungary poland russia switzerland prior managing director kearney germany earlier served new yorkbased leader firms north american automotive industry practice mr ostermann served client officer several kearneys largest global automotive manufacturing accounts consultant specialties include manufacturing strategy product development corporate transformation efficiency improvement unit head led kearney doubledigit percentage growth revenue first germany later central europe ostermann joined kearney elected officer firm following acquisition kearney eds joining kearney manufacturing engineer bmw plant analyst daimlerbenz worked kearney offices d\u00fcsseldorf prague new york southfield michigan served client engagements throughout europe north america well china japan brazil argentina hamburg native mr ostermann earned bs manufacturing engineering mba university hamburg ms industrial engineering university southern california leading consultants discipline client value luther j n ussbaum first consulting group chairman chief executive officer inside minds exciting side consulting people whove business career taken several business environments ive executive cummins engine senior vp marketing operations businessland coo ashtontate great jobs working great people things changed important way took job ceo evernet systems national systems integration company evernet got services field became door consulting business love find ideally suited abilities temperament lot energy lot curiosity high degree selfdiscipline personality consulting field seems particularly reward several things get excited consulting one diversity assignments never boring never work highintellect people youre surrounded people challenge thinking environment ive encountered worked immense variety people learned taught smart committed people challenge thinking go logic carefully invariably wind better answer although kind supercharged environment pretty stressful cant think day ive gone home without learning something new leading consultants something makes think things little differently sort consulting fcg potential longterm impact individual clients two important industries healthcare life sciences major motivator fcgs employees call associates industries deal literally lifeanddeath issues healthcare united states lot problems industry leaders looking hard ways solve part solutions energizing theres strong shared moral commitment pure business point view competition exciting im pretty aggressive competitor fcg grown moved services well consulting begun compete major players industry cap gemini ernst young ibm accenture csc compete win companies stature real victory enjoy know associates sense consulting ideal business relationship dont succeed unless clients much flows teamwork sense shared fate shared inside minds pride accomplishments find whats actually possible clients colleagues things change although business like human activity progressive sense generation builds accomplishments last progress viewed believe upward trend line series cycles certainly true consulting things change remain ive long think things really changed go cycles revolutions mainly people havent full set cycles think anything new unprecedented first consulting group information technology consulting services experienced series long waves last three four decades case new technology arrives disrupts existing business patterns resolve new patterns periods ranging year two decades depending technology effect deep shallow mainframe computer personal computer wrought profound changes years technologies localized effect recently weve gone first phase dotleading consultants com wave absorbed business entered consolidation period things slow bit awaiting next phase dotcom wave next technology combination believe alwayson alwayspresent network driven wireless miniaturization time healthcare life sciences going cycles healthcare tough two three years side healthcare speak getting healthy part first time information technology absorbed quite deeply industry historically lagged behind industries united states regard healthcare responding combination economic scientific regulatory forces adopting information technology changed processes broader scale effect seeing separate evolutionary cycles technology healthcare begin converge believe outcome major changes way care delivered similar forces though driven industry consolidation new discoveries basic science changing life sciences industry great extent consultants service providers help clients deal profit technology cycles helping understand cycles objective similar military strategy keep reinside minds fighting last war pc wave delivery applications individual user offered different options mainframe wave internet wireless support radically new applications offer still different options selling delivering value clients one level best definition value leading consulting firms bring clients common getting results ultimately clients arent buying consulting hours advice reports implementations theyre buying results client aware number reasons cant get results buying decision likely get results want becomes matter evaluating potential consultants work consultant turn fundamental question organize firm approach work clients goals issue us show prospective clients achieve goals get done first foremost us concentrate specifically two industries healthcare life sciences industries different business models healthcare primarily services life sciences research leading consultants manufacturing distribution needs serve closely related regard single industry within space fcg brand well known understood deep domain knowledge deep technology knowledge walk people awareness fcg brand helps enormously lay specifics deliver depending kind client academic medical center pharmaceutical company biotech company healthplan payer initial way engaging prospective client first want sure understand fcg brand sell greatest strength regard fcgs long track record client satisfaction regularly score top independent client satisfaction surveys beyond want confirm fcg brand space want deal qualifications kinds projects weve done space able cite pretty impressive references based exceeds expectations performances carefully nurtured longterm client relationships explain team going bring client depth knowledge experience team bring matter presenting unquestioned ability achieve results client looking inside minds like many aspects consulting position somewhat paradoxical bring deep knowledge clients business problems objectives time external detached perspective people want solid empathetic knowledge circumstances outside view perspective external business suspends conventional wisdom youre client organization talk people day day become convinced know youre talking stop looking new ideas bring consultants provide outside view challenge thinking bring knowledge whats done successfully unsuccessfully bring five cases instance show people tried something doesnt work even though may sound conceptually neat bring detailed knowledge systems implementations usually three four things say configuring software setting internal processes youd known beforehand youd done differently bring key knowledge bring discipline people often hard time accepting new ideas people work closely frequently consultant outside seen least provisionally credible fact one challenges leading consultants us get really longterm engagements avoid becoming closely identified client cost us outside aura bring focused applied research capability emerging practices group based boston constantly look market technologies work turn knowledge deeper insight improved techniques bring variable cost resources people gear project without bring people onto payroll lay project hire us come get results send bill go home avoids obvious costs disruptions associated workforce churning also avoids hidden costs bring people speed new project new environment although every project little different weve done anything work effective moment hit door knowledge management important us several reasons first allows us reduce cost services developed large base standardized tools techniques apply custom approach required costeffective client reside kite knowledgeinformationinside minds technology exchange kite huge highly organized accessible collection electronic documents tools techniques operationalizes approach knowledge take done add value put back others use core knowledge base core set methodologies call first steps discipline structures take clients get much better results product experience since contents kite constantly circulating projects constantly updated standardized tools course adequate every phase every project projects nearly large ones components require customization project plans adapted fit client capabilities process designs reflect client wants deliver care business perhaps useful see standardized tools literally help client build lot different houses dont reinvent hammer job good knowledge management also supports important source client value knowledge transfer consultants often accused hoarding knowledge make indispensable prolong engagements tactic classic shortterm thinking results lot resentment approach opposite transfer leading consultants knowledge client ensure client self sustaining leave aspects practice aimed getting results meeting possible exceeding client expectations leaving satisfied client rearview mirror ideal client relationship ideal client relationship one developed long term based value delivered candor trust first foundation relationship value add client results help client achieve course support relationship value must evident client one reasons must perform must also communicate constantly client aware value candor essential enduring client relationships good consultants offer wise clients demand respect easy short term tell client think client wants hear tactic defeats sides first may well wrong client may something different mind second clients spot selfserving language consultants inside minds quickly youve lost credibility third even get away cheated client one highest values consultant bring honest independent judgment client wrong consultant accomplice failure fcg value candor highly associates formally evaluated willingness say truly think one ever sanctioned ever final decision course always clients naturally respect obligation client help inform guide decision best way trust every consultant knows hard win easy lose partly practical matter matter confidence produce results enhance clients value engaged pretty much evident trust extended us work goes roughly proportional many promises weve able keep partly trust ethical matter consultants best interests client heart merely fees client encounters much consultants practical ability culture fcg developed pretty rigid code behavior client comes first reflected lot specific business practices go extra mile meet clients needs make mistake fix even client isnt aware leading consultants staff manage work according clients needs according revenue targets obviously hurt us short run short run isnt interested take long view business client relationships ethical business isnt right good business business thats sustainable long term like stay clients longterm couple reasons first obviously reduces cost sales administration second makes us effective longer relationship client better understand business culture good example risk preference clients innovators want leading edge believe pioneers get great land others believe pioneers get arrows want see something thats demonstrated sites implement get flavor client characteristics much client important point continuing relationship definitely imply nonstop consulting clients close years occasional work us maintaining close relationships matter continuing contact multiple levels whatever purposes appropriate example helped create participate inside minds scottsdale institute nonprofit association leading integratedcare delivery organizations work institute research projects provide knowledge expertise gain valuable market insights return well make fcg available services consulting work members longerterm relationships also improve effectiveness first project client get levelone understanding relatively quickly expressed needs preferences basis typically bring project successfully take longer especially major client highly complex organization gain depth understanding allow us anticipate client react political chemistry organization affect long term success especially true largescale system implementations hospital clinical transformation work highly sensitive physician nursing attitudes extensive business process improvement work hmos insurers multiple business constituencies stakeholders brought board get away expecting idealized implementations youre working real human organization sorts politics people leading consultants intricate interrelations make sure project socializes culture facing difficult issues project matter well planned managed going run occasional snag certainly good planning management reduce likelihood size problems ive always placed lot importance ready happen problems staffing issues delays disagreements anticipated others client business problems unplanned project staff turnover thirdparty failures often cannot first key heading problems make sure understand client really wants client says want sometimes theyre things careful probing back candor independent perspective uncover difference getting right necessary setting expectations client critical part every project without exception setting managing expectations doesnt begin project planning course begins sales call client success relationship expectations believe consultants projects undone creating inside minds unrealistic expectations point almost mistake urge overpromise get job figure later strong especially smaller firms almost invariably suicidal approach fcg opposite underpromise overdeliver moreover manage expectations throughout project beginning managing expectations really part another firm principle mine communicate communicate communicate simply cant overcommunicate theres bad news youre lot safer telling client hiding praying miracle three months oneyear project see project going completed end year tell client going take months instead client says ok understand theyre happy wait th month tell youre going tack another three months conclude youre control good job way rule applies internally project team well good project manager wants hear bad news theres still time something problem options run another problem anticipated staffing conflicts turnover several kinds cases chemistry may right happens leading consultants simply swap consultant cases consulting firms included tempted time time pull person project theres another one person really needed need maintain resources sense continuity client project project plan matter formulating right project plan plans require many innovations pose problems youll try manage issues always set appropriate expectations every successful project plan includes foresight contingencies unexpected impossible course list things go wrong plan along two dimensions likelihood severity problems illness project team likely severe managed others severe likely major business disruption business failure client unlikely lowseverity contingencies get attention likely highseverity ones vendor software delivered late full bugs get lot attention project risks appears manage along client probably good idea redesign delay even cancel project delayed cancelled project usually revived failed one usually cant inside minds measuring success clients client success measured different ways depending clients want projects us fundamentally want client satisfaction well go long way achieve regardless expectations want people say met closer get result related top five factors client believes strategic success tactical better like know going meaningful impact clients perform better marketplaces nonclients thats ultimate measure success perspective determining fcgs direction creating vision organization deciding direction terribly complex talk lot people get conventional wisdom ignore time conventional wisdom everybody understands far trend meaningful anymore read lot look opportunities looking highimpact undertakings things really significant meaningful believe well make way well leading consultants setting direction matter integrating two tactics single strategy first following market second leading years old started strategy work clients sitting looking next three five years see systems needed led us get selection said need patient accounting system clients responded well patient accounting system helped make selection clients said help us write contract said help us implement evolves relationship clients natural migration yearandahalf two years ago got outsourcing side things clients said help us run youve helped us assemble got infrastructure work implementations broke infrastructure keep going migrating moving evolving progression reinforced learning early clients tend prefer consultants take entire systems cycle planning selection implementation management operation weve extended capabilities along cycle weve inside minds identified opportunities built firm lesson clear let client needs guide dont get far ahead market offering services one wants least yet time however consultants expected leaders tried identify areas new technology new applications offer real promise substantial improvements clients operations course easier technologies market segments others hospitals example culturally conservative riskaverse historically skeptical getting far technology curve physicians tough sell dont see clear immediate value patients practices approach create market hypotheses test constantly reality trying shape reality bit working industry segment leaders early adopters new ideas technologies get hearing best chance success course occasionally backed wrong horse wrong price trying stay front thought computerbased patient record would penetrate healthcare much rapidly example computerbased physician order entry would catch soon got easier use fact turned adoption applications leading consultants driven much regulatory qualityofcare concerns applications intrinsic appeal lesson clear part leadership willing take sensible risks fcg always sought always seek leadership position strategic risks worth taking risk part business venture factor every strategic decision risktaking gambling careful calculation potential gain loss made much information practical get note didnt say possible get risks allayed information available within time horizon decision point ive found accept residual risk resign game part fcgs growth evolution learning take risks context services offer markets serve ones take us since high risk high reward tend go together matter taking higher risks greater rewards historically biggest disappointments taking significant risks things small impact clients firm built launched inside minds new services example find less demand thought would accomplish client expected sometimes guilty read market capabilities clearly enough cases market changed events intervened latter course pure risk consequences things could reasonably foreseen two faces strategic risk decisions first likely given risk grave potential consequences second things go wrong way unlike old joke doctors bury mistakes consultants like business people live disappointment financial loss painful staff reductions continuously trying define practice around bigrisk bigreward smallrisk smallreward try make sure portfolio risks digestible financially business cycle still trying dramatically improve performance assessing risk time though many things want avoid start trying play defensive youre effective history american business littered failures companies developed fatal resistance risk oriented walk leading consultants clients office list want want accomplish try think negative things ought avoid like standing tee water front saying dont want hit water last thought exactly ball goes really avoid thinking terms one area calculating risk carefully extending services nonhealthrelated markets financial services manufacturing distribution weve learned past forays example healthcare delivery consulting europe lost lot money seemed like good idea risky build large expensive delivery capability advance knowing whether serve new market effectively makes sense think undertake small carefully defined projects new market subject rigorous evaluation go avoid making major resource commitments sure market belong hand one risk well take identify solid opportunity fastevolving new market acquisition logic simple since take several years good job building new specialized practice scratch practical way field good team fast buy one inside minds fcg grasped extent healthcare becoming drugbased result acquired integrated systems consulting group iscg firstrate technical services firm large pharmaceutical life sciences client base entrepreneurial informal culture like fcgs first acquisition going public almost doubled fcg size overnight although took little time work organization great success managing turbulent market consulting market quite turbulent notoriously even modest economic downturns markets serve result much deeper downturns consulting clients stretch projects downsize eliminate altogether reduced revenues intensify competition constraining salaries benefits make harder retain good people although pharmaceutical life sciences market percent business pretty profitable stable healthcare works much smaller operating margins gone though several tough years government employers struggle hold healthcare expenditures public firm fiduciary responsibility shareholders addition associates leading consultants clients way managing turbulent times tier response threelevel hierarchy level bottom cashoriented level profitabilityoriented level growth profitabilityoriented go cycle turbulent times revenues fall drop hierarchy begin focus profitability might drop focus cash preservation get resources aligned demand spend energy collecting receivables delay absolutely essential capital spending manage cash flow cycle market turns adept enough stop dwelling things helped preserve space say six month ninemonth period side become expansionist build staff capabilities begin taking risks figure business going grow profitably important communicate actions everyone firm weve cut discretionary expenses reduce staff weve honest try hide pain people find anyway lose trust manage turbulent times communicate organization youre tight cashflow condition appropriate things youre time growthandinside minds profitability appropriate things associates need understand youre running one side boat youre inevitable response cycle turbulent times essentially fcg done last couple years healthcare industry went though period severe revenue constraints rising costs side business got hit pretty hard take fairly stringent measures manage cash including pruning lowdemand services laying people something go great lengths avoid none fun necessary preserve base expanding important thing recognize downshift speak promptly delaying hoping best common response one humanly sympathize compounds problem might minimal downsizing reductions attrition winds massive layoffs hurt laid also leave morale productivity problems wake leave investors dubious credibility leading consultants finding opportunities turbulent markets turbulent times consulting firms revenue problems clients revenue problems clients think cant afford consultants either fire dont hire odd thing theyre often wrong consultants good investment whenever organization confront change good times change welcome client bad times happens anyway good consulting firm develops skills industry perspective help client manage either scenario difficult times cost always common denominator times difficult youre going toward cash clients probably going toward cash well cutting expenses provide services meld immediately theyre might focused growth profitability six months ago theyre saying projects theyll consider help reduce costs improve cash flow respond immediate needs youll great shape acquisitions old saying applies time raise money dont need able put together war chest cycle buy companies cycle theyre far less inside minds expensive dont treasure chest cash currency stock price dropped acquisition isnt less expensive shareholders amenable paying high dollar amounts think share price depressed matter exchange rate two companies attractive might look conceptually acquisitions really hard sell speak time successful consultant fcg fcg goaldriven company every level every activity firm directed specific objectives reviewed periodically effectiveness isnt hitting objectives change process reconsider goals time highly collegial teamoriented culture virtually everything importance accomplished groups whose leadership identifies objectives manages towards ability work successfully environment key factor recruiting relative setting goals individuals fcg person typically member several different teams point might member client team practice team business unit team leading consultants might task force relative changing something within firm teams set goals want individual contributions team want report progress individual report progress team highly complex terms envisioning measurement systems required weve managed build set routines systems works pretty well people firm fundamental belief describe easily carefully concisely people want well get percent better performance leave fuzzy illdefined unclear goals extremely important getting clear goals individual level linking goals various teams individual part linking goals teams purpose firm complex critical shortly joining fcg got involved human resources task force coleading individual whod around redesigned whole professional compensation development system firm articulating wanted consulting set six silos set skills abilities every associate formally evaluated every year inside minds foundation skills must able write well speak well handle complex meetings dealing conflicts sorts issues technical skills involve industry domain knowledge technology often combination practice relationship development skills consulting ultimately revolves around able sell team teams people clients project management skills able manage projects extremely disciplined way leadership abilities need leverage drive business decisionmaking ability people see ten facts make one type decision another see ten facts make much higherquality decision doesnt seem teachable seems innate people better making higherquality decisions others given set facts silos complemented set core values also evaluate associates include accountability integrity commitment quality achievement orientation adaptability things work embed firms culture hiring promoting accordance leading consultants successful teamwork team leadership successful teamwork fcg skills come together technical skills also ability perceive read people well ability communicate effectively ask better questions somebody else probe deeply understand clients business put together project successful meeting needs team youre looking technical skills variety intangible skills team leadership pull disparate people together consultants nature strong egos strong sense presence strong views need good leadership make sure every one heard call get alternatives voiced understood decisive setting direction leading consultants make happen great leader exudes discipline discipline discipline youre responsible delivering project set level commandandcontrol really get discipline established carry project creativity often needed early part project establish youre trying accomplish deadlines great leaders really get inside minds disciplined commandandcontrol structure deliver final result leading consulting firm like leading group lawyers educational institution set organizational goals inherently complex require high level communication collaboration also group highly energized independent extremely talented people leading people give purpose beyond individual accomplishments important fcg high purpose something thats noble achievable beyond individuals could accomplish consulting thats partly establishing fcg brand ultimately impact industry serve keep edge leader im perceptive good instincts think way able head modern consulting organization like one intuitive see able leap least see trends see whats moving cant rely much whats written get frustrated people ask something written time usually late even respond find theyre saying gaps sometimes clients havent even recognized cant talk see whats leading consultants happening see trend know whats happening ahead time look ahead healthcare life sciences many ways american healthcare superb physicians probably worlds best diagnosticians lead world medical technologies innovative pharmaceuticals get sick america either good private insurance form government coverage youll get generally good care delivered excellent dedicated people healthcare industry united states recovering period fairly serious revenue cost pressures facing difficulties american healthcare number fairly serious long term problems provide healthcare nationally uniform system insurance patchwork government programs employerfunded coverage leaves lot population vulnerable people selfemployed employers forced reduce benefits face rising costs result around million americans health insurance leaving without reliable source medical care time costs rising steadily driven largely growing reliance inside minds increasingly sophisticated drugs turn acute diseases chronic ones extends life spans increases overall healthcare consumption two effects expensive drugs longerterm usage compound effect costs threatens push people employerbased coverage especially move period slower economic growth healthcare also fairly serious quality problems documented institute medicine largely result fragmentation care delivery united states slowness implementing information technologies prevent kind errors occur incredibly complex informationsaturated environment information technology problem addressed initiatives individual insurers care delivery organizations employer initiatives leapfrog group fragmentation problem much deeper structural roots although information technology help provide degree clinical integration cannot solve underlying structural problems true well internet although internet immense help changing business processes empowering consumers supporting kinds clinical information management cant overcome fundamental weaknesses healthcare leading consultants system roots national policy decisions economic forces becoming clear current approach healthcare change long term replace probably sort thing americans prefer mixture private government initiatives larger government component including believe form universal insurance coverage probably combining private government funding consumer influence healthcare grow steadily pharmaceutical life sciences industries believe golden age discoveries basic sciences genetics biochemistry occurring almost faster assimilated applied drug companies encountering consolidation pressures legislative restrictions applied research directions note recent controversy stem cell research think many directions success example personal medicines based individuals genetically programmed responses drugs allow us eliminate trialanderror prescribing weve forced aim drug exactly disease pharmaceutical industry absolutely transformed healthcare lifetime alone expect transformations continue inside minds look ahead consulting industry think consulting industry sitting similar around consulting took pause went backward little waves late carrying little see another really strong period think society business institutions become exponentially complex fluid based technology consultants stock trade ability apply highly specialized knowledge skills combined independent perspective exactly long needed become central world continues evolve consulting going golden period far developing hotbeds around technology concerned think back waves think major new areas continuously open know people enamored wireless wireless technology really movement application much better ride big waves application crm erp process reengineering dotcoms fully integrated systems major implementations tend drive market pretty strongly new technologies implementation though still leading consultants important tend drive market less significant way massive waves things make people want try understand people common take businesses waves happen consulting peak waves normal sharing best practices innovations specialty knowledge experience pause whitehot area go waves think another whitehot wave dont know best advice best advice ever got school hard knocks ive learned far mistakes ive ever learned somebodys advice counsel cant really learn something till youve experienced understand truly implications making bad decisions daughters long recovery nearfatal automobile accident several years ago changed life dramatically people comment probably handle bad news well anybody else took awful lot bad news inside minds learn dont get uptight listen news figure daughter sitting talking long ago said shed like go back time could michael j foxs delorean back future scene accident let happen much positive happened accident found husband family really pulled together ive changed mellowed theres much good came dramatically turned around applying personal business say lets go figure make something positive golden rules consulting couple fundamental rules first empathetic client put clients shoes take shoes apply broad enough perspective see client outside client sees cant schizophrenic see things ways wont successful see things consultants broad perspective client ought leading consultants wont understand enough help change ive often said understanding way earn right recommend change thats probably important rule serve consultant luther j nussbaum chairman chief executive officer providing leadership first consulting group fcg member million public consulting firm leading provider consulting systems integration outsourcing healthcare pharmaceutical life sciences industries nussbaum year veteran computer industry served recently president chief executive officer evernet systems inc national network systems integration company nussbaum twice named computer reseller news top executives computer industry prior evernet mr nussbaum president chief operating officer ashton tate microcomputer software development company entered computer industry senior vice president marketing operations businessland inc worldwide reseller personal computer products services inside minds decade senior management cummins engine company nussbaum received ba rhodes college mba stanford university serves boards emergent information technologies two private entrepreneurial companies olson company command packaging leading consultants giving clients expect bradley mith milliman usa chairman inside minds question clients ask conceptually consulting pretty simple business believe clients ask one question contrary popular belief much going cost project going completed although many clients ask questions question clients ask think think reserve think premium rate think pension liability comes question think many implications question respect successful consultant one implication question think expert something expert continually changing environment object question changes time creates many challenges consultant also makes consulting rewarding exciting know world changes course career always need consultants think solutions difficult questions believe consulting business changing much faster pace ten years ago subject question think would stay longer period time today subject question changes leading consultants constantly one reason consulting challenging well rewarding past six months two years clients going asking questions ask today solving problems today consultants simultaneously reinvest knowledge base prepare answer questions clients asking tomorrow consultant continually reinvest knowledge experience base keep amortizing assets whole second ramification question think clients care think consultant must expert given topic clientele potential clientele know youre expert consultants insular inwardthinking constantly replenishing knowledge base communicating anyone expert given topic area want successful consultant expert given set topics potential clientele need aware expertise therefore responsibility consultant threepronged complete current assignments satisfaction clients inside minds reinvest constantly amortizing knowledge experience base communicate clients expert ever changing environment consult short constantly requalify expert given marketplace making people aware done art consulting delicate balance considering requirements clear successful consultant quite demanding however believe true art successful consulting career finding balance personal life professional life balance isnt everybody individual find works everyone different comfort level different position respect life cycle cannot impose values balance individuals let consultant find comfort level consultant need understand important individual recognize every volleyball game miss every gymnastics meet cant make missed opportunity may come around leading consultants make judgment calls tradeoffs face times every consultants life stuck somewhere family events going miss assign appropriate level importance personal obligations opportunities meetings clients fact clients understand cannot available certain periods time willing schedule around events balance key longterm consulting career success know successful consultant generally know successful upon completion given assignment client asks another question gives another assignment generally asking another question happy work stop asking questions start directing questions others reasonable chance completed assignment successfully client comfortable confidence believes capable answering particular question continue seek counsel inside minds said times client asks consultant thinks told client disagree consultant cannot take disagreement personally remember always right clients right wrong allow clients make choices based upon information input give act way contrary advice given accept may know particular aspect decision may right may wrong let wrong times loyal clients clients disagreed time time going successful consultant add value multiples fees enough add value equal fee add value well excess fee three five ten times fee clients gain confidence ability add value asked broader questions respect business many times client knows needs help know question ask assignments fulfilling allow consultant add substantial value one critical skills needed successful consultant ability listen leading consultants client know question ability listen abstract issues one valuable contributions obviously identify questions issues facing client proceed providing solutions staying touch consultants well others profession participating industry meetings committees another important component successful consulting career personally written number papers spoken number industry wide meetings consultants asked think activities translate development business typically answer dont know sure would want risk growth experienced writing speaking likewise staying involved contributes value add given profession even cant sure contributes commercial success consulting business results speak consultant keeps existing clients happy grows client base long term priori evidence successful consultant willing listen impose first five minutes conversation articulate conclusions based upon understanding issues clients confronting typically successful consultant consultant understands inside minds need listen ability communicate need reinvest knowledge base typically successful long term cookiecutter solutions another ramification question think think cookiecutter solutions anymore world become complicated everyones issues different ability listen extract issues critical success consultant great extent consulting involves addressing client issues basis want answer percent question percent time times consulting get absolute completion project also implications way perform job expertise topic consulting enter assignment tailormake answer specific companys issues broad knowledge base need basic background ahead time well prepared answer question client asking ask probably receive assignment advance preparation key leading consultants firm believer strong fundamentals fundamentally sound whether athletic endeavor business practices performance flawed ultimately excel fundamentally sound capable blocking tackling willing prepare advance individuals succeed long run thing difficult reaching top remaining top things get always somebody wants replace maintaining strong fundamentals leads continued success communication fundamental ability communicate effectively writing orally absolutely necessary become firstrate consultant often meet students lacking one basic skills smartest person cant communicate clients think issue succeed consultant good communication skills necessary attribute successful consultant also one critical skills admit bias voracious reader firmly believe reading everything get hands inside minds assisted greatly consulting career consultants need anticipate questions clients ask one way anticipate questions read reading make large component consultants time helps consultant gain insight business whole well particular businesses consulting read questions companies asking countries questions may asked united states read industries focus consulting practice legislative regulatory environmental business issues affecting industries dont typically consult may help address questions clients may eventually ask reading also help improve refine communication skills reading key requisite keeping edge opportunities sometimes economic environment creates greater need consultants consultants may brought work internal staff would done prior downsizing clients hire consultants need fire dont consulting variable cost opposed fixed cost economy create opportunities consultants leading consultants likewise lot questions faced clients consultants address business isnt going well consultant therefore position answer questions markets best advice firm milliman usa years old best piece business advice ever received milliman consultant view firm tool tool used add value clients reach personal professional goals however grandfather took tool workbench sharpened oiled used replaced need leave tool ie consulting firm better shape found every consultant firm takes kind ownership makes kind commitment clearly growing profitable successful firm long period time consultants firms dont serve clients well hurts consultants likewise consultants perform well pie gets larger consultants always strive give client expects given assignment whether fixedfee timeandexpensefee job always give client expected inside minds firm structure firms organizational structure ownership structure culture dictate kind people comfortable successful instance milliman usa firm multiple profit centers profit centers merely mechanism splitting pie end day however contributed creation firm ultimate meritocracy consultants relatively young compensated consultants older firm longer period time contribution make given period determines compensation goes equity principals firm way clerical staff organizational structure tend attract entrepreneurial aggressive individuals consulting relatively simple business capitalintensive business assets people focus getting people best address questions issues clients face believe ownership organizational structure allows us attract best people consulting firms succeed long run ones attract highest caliber people believe firms owned operated consultants well leading consultants positioned future long run attract disproportionate share best people consultants firm participate ownership return well return generated consultative efforts illustrate lets assume consultant considering joining firm firm b firm allows extract ownership return whereas firm b sold ownership return external owners whether public offering another firm believe best people attracted firm compensated efforts directly participate ownership return consulting environment technology made consulting easier well difficult although technology cuts amount time takes complete assignment also increased client expectations sometimes unreasonably respect amount time needed complete given assignment pace consulting partially technology much faster used questions changing faster pace technology created higher expectations inside minds important understand market want consult well expectations analogy exists retailers one extreme retail marketplace walmart successful market serve successful best selling highquantity lowmargin items hand nordstrom highvalueadded highmargin operation said walk nordstrom pm five minutes close need pair shoes stay open long necessary pick shoes business typically consultants highvalueadded highmargin businesses consulting firm wants high valueadded business need understand requirements model implications client calls friday afternoon wants complete assignment deliver monday morning need willing work saturday sunday complete project mean work every saturday sunday means willing work saturday sunday necessary complete assignment clients satisfaction likewise work every night client asks satisfactory completion assignment demands willing invest leading consultants time otherwise highvalueadded consultant make commitment available short notice hours day seven days week doesnt mean work hours clearly impossible available clients want consulting client service business consultants need understand keep clients happy going stay business long important understand goals individual consultant well firms goals big fan shortterm goal setting think important focus longterm goals address want individual firm three years five years ten years understand want five ten years shortterm tactics seem apparent times people make mistakes overemphasize shortterm goals thereby something meet specific shortterm goal wouldnt otherwise ramifications choosing clients work discriminate clients believe add value cant dont think add value potential client need pass opportunity inside minds focused shortterm revenue growth goals may lead bad decision regard accepting assignment cannot add value think people going enter consulting field industry attempting lower fixed costs consequently reduce staff positions industry continue reduce fixed staff costs transforming variable consulting costs therefore believe consulting industry grow substantially next decade consulting industry constantly challenged litigious society operate answer gave consultant may well thought appropriate answer given time three five months later retrospect may prove right answer mean advice given time bad constituted malpractice necessarily actionable legal standpoint consultants cannot ultimate reinsurer particular outcome clients must understanding recognition fact consulting continue viable profession long run ultimately management needs accept responsibility thinks appropriate considering consultants advice biggest threat consulting industry right rise litigation fact risk accepted consulting leading consultants firms cost transferred economically client recognize accept consulting none us lives vacuum momentous events world stage alter business know consequential impact advice give clients substantial core business milliman usa involves development projections include projections net income cash flow projections insurance companies pension employee benefit costs liabilities types enterprises well demographic projections governmental entities world events unfold certainly impact work advice give clients maintaining enhancing relevance markets serve biggest challenge faced consultant professional consulting firm maintaining relevance involves identification areas skills consultant utilized add value multiples client identified consultant must develop capabilities research allow add value clients potential clients one dangers faced consultants working projects satisfying current demands clients invest time inside minds resources necessary maintain relevance future specifically invest knowledge base lose touch marketplace fail research necessary serve marketplace tomorrow next month next quarter next year golden rules consulting golden rules consulting always give clients expect make sure understand consultant firm want go long run maintain balance life consistent makes happy continuously reinvest knowledge experience base recognizing constantly amortizing assets importantly fun bradley smith graduated university illinois highest honors smith fellow society actuaries member american academy actuaries fellow life management institute loma formerly served leading consultants board governors society actuaries joined milliman robertson inc known milliman usa april open lifehealth practice dallas practice involves aspects life health insurance including insurance industry mergers acquisitions product pricing financial statement preparation served member millimans board directors may may may elected position milliman usa chairman board directors joining milliman mr smith vice president chief actuary jcpenney life insurance company heavily involved directresponse marketing analysis list segmentation product development corporate planning working jcpenney life mr smith worked product development reinsurance departments republic national life leading consultants tailoring solutions meet client needs thomas j ilveri drake beam morin chief executive officer president inside minds art consulting ive involved industry one form another years started price waterhouse public accounting excellent base learn price waterhouse spent decade advertising public relations business various finance administrative positions im drake beam morin worlds leading career transition consulting firm serve companys president ceo ive always personal services business personal service sector really gives charge everything grounded good educational background theory practice one needs active listening skill able adapt book knowledge knowledge gained experience implement effective solutions work customers always find exciting part job everything tailored meet needs organization want go youre always dealing different people youre always dealing unique challenges solution set customer never really get deal human capital element something every consultant really want job well consultant youd better like working people leading consultants youd better like interface youd better good listener able impart knowledge way accepted youre consulting always biggest reward enjoy stayed whole career would urge anyone wants get business today loves interpersonal interaction take look consulting sector career path art consulting requires mastering art listening set problems organization individuals quickly efficiently assessing organization developing rational approach getting organization wants go also requires make sure solution set provide keeping organizations culture needs directions competencies youre successful youll able move agenda youre working quickly efficiently constantly changing world work another integral part job customers often look solution problem fact youre facilitator solution customers tend feeling theyve turned problem problem going get solved thats something manage front end perspective important part active listening inside minds understanding customers expectation managing early relates possible deliver never ever overpromise credibility line organization thats hiring line investment line never overpromise underdeliver defining success consulting depends role youre talking perspective role ceo leader consulting company define success able company execute many recommendations procedures possible way ultimately moves agenda forward success repeat business success moving forward organizations agenda use time resources course speaking ceo want way profitable want way allows growth development people practice constantly moving forward forefront whatever coming next best definition success repeat customer activity means secured relationship customer provided valueadded contribution want use us leading consultants methodologies general go sales process constantly using specialists attempt provide valueadd customer base understand enough customer base quickly bring valueadd table perspective dbm spend significant amount time behind scenes talking competencies provide valueadd solution set goal focus competency cant provide valueadd quickly efficiently customer wants pay learning dbm religiously focus skill set match quickly industries solutionset methodologies provide valueadd customer opportunity youve identified solution set youve identified competency skill set bring want make sure know enough customer able clearly understand precisely articulate solution set early enough process theres degree comfort thats way successful weve spent lot time internally describing think matters much organizations today need know provide inside minds valueadd immediately process start say way handle well think youll immediately turn customers customers look valueadd look specific set solutions want immediately articulate way brings solution table spend lot time think successful result dont want everything everybody times well turn business well refer business others know know cant consultant need sit strategy direction assess skill set first know provide valueadd know play internal resources set business strategies way convince people permission effectively bring solution marketplace internal mindset place easily convince customer dont wallow around world consulting successful focus lot energy really strengthening relationships dbm truly reliable trustworthy partner given nature business lot leading consultants say sensitive deal company culture issues know gets structural foundations organization strength depth oneonone relationships customers really keyed around success often customers traumatized types initiatives need implement engage get restructuring exercises laying workers need know agenda find impact individuals ultimately affect theyre going job providing valueadd providing valueadd process need follow within strategic planning involves talking provide skill set let give example represent several companies hightech business going considerable restructurings time gives us opportunity work variety customers many similar though exactly challenges pull knowledge base people worked programs know exactly market best provide valueadd customer market best secure career transitions employee base weve inside minds accumulated knowledge identified strengths execution knowledge customer easy approach hightech company going saying leading consultants career transition issues go say understand problems surrounding placement employees within industry potential path result issues solutions weve thought makes sense engage way think secure revenue growth customer acceptance spend lot time planning process fostering understanding skills internally selling sell know best convincing customers able answer many questions customers walk first meeting getting speed requires frontend approach consultants must considerable amount work walk request proposal rfp presentation made front customer involves learning much company public sources well gathering information preinterview process sit identify needs outcomes individuals asked us come leading consultants even walk door though want good sense companys issues company expects meeting management requires frontend investigatory process consultants processes help facilitate information gathering consultants use databases information immediately track historical data information career transition trends industry important systems place organization people effective execution sales endeavors would let team go presentation without completed frontend process wouldnt successful pitfalls golden rules experience consulting found direct correlation number people front customer profitability firm essentially means want put companys efforts resources toward customer form facetoface contact marketing sales activities external research form continued development put resources internal office space inside minds elaborate internal systems keep back office minimum always provide external focus meetings limit internal process meetings successful think successful consulting arena view company big organization entitlement culture allowed exist think major pitfall consulting best business advice give people line front customer better understand ultimately business driven valueadd contribution give customer activities around geared toward customer keep focus youll successful thats weve built company dbm six imperatives filter every business decision make share common vision worldwide think act globally see eyes customer client maximize employee talent leverage technology sense urgency purpose decision cannot easily seen eyes customer valueadd dont leading consultants doesnt mean dont equipment allows people jobs token dont want sense value internally generated external marketplace people tools jobs something buying something keep someones title exclusively profitability company successful also im going mention hazard focusing cant think lot effort expended creating solutions arent core companies forming planning platform stay focused organization core competencies meet regularly constantly challenge retest thinking think organization wants successful really needs extraordinarily rare see consulting organization able play full spectrum potential consulting advice counsel may play arenas specific skill set focus move forward smaller company would wise limit pinpoint valueadd situations really play opposed saying consultant never play area dont valueadd contribution thought advance never overcommit customer ability deliver product suggest never surprise company amount inside minds bill youre executing program overdeliver opposed underdeliver stay touch whether youve completed assignment maintain develop relationship never know come back managing turbulent times im different business traditional consulting perspective business helping people career change times economic change particularly world economies recession activities extremely brisk fact could almost called countercyclical service need assistance economy well organizations realizing need rightsize align workforces declining revenue streams conversely turbulent times economy strong much support around career transition organizations arent taking people understand ask help situations skill set apply demand given economic climate strength career transitions supplying support counsel around hr solutions market leading consultants enhance weve used many programs weve implemented careertransitioned employees help organizations theyre going change might actually involve career transitions example executive coaching retention issues areas competencies play already skill set solution set need provide think organization need balanced product service customers turbulent times quite well economy good balance customer need means helping organizations change weve looked organizational resources know strong arena us retention executive coaching areas provide valueadd organizations struggle need refocus business quickly think core competencies consumer looking gear service already strength competency companies need fast fluid important look small company matter size provide quick solutions area crisis dbm million company today operates million company fast well make changes needed marketplace consulting company successful longterm unless ability change inside minds people individual successful need broad experience base strong interpersonal skills need wellrounded individual desire ability communicate listen react ability way driven best interest customer im looking people strong overall skill set around written oral communication im looking people want something different provide change people motivated therefore successful leader whose experiences developed personal services sector industry thats brought interested sitting internal meetings trying move career forward way id rather front customer enjoy whether personal level customer relationship level external practice development level whether tradeshow new business want interrelate job satisfier dont want interaction consulting business stay business without ability interrelate enjoy youll rather limited role within consulting organization need communication skills whether oral written intense desire help people look forward leading consultants best consultants intense desire execute customer responsive needs way makes customer feel though theyre part company instead vendor relationship ive seen excellent presentations excellent executions havent customer focused presenter used book solution solution set thought well educated individual worked customer way company understood could execute best consultants understand work company know responsibility get company helping execute solutions care company care responsibility process work management company execute strategy stay engaged even experience good consultants probably right answer come good strategic thought around solution dont understand culture nuance person paying service result dont provide type support necessary get program dbm think leadingedge learning organization one criteria desire personal responsibility grow professionally need inside minds devote period time becoming stateoftheart forward career dbm know dealing highly talented people organization want need drive toward development desires continued learning situation provide funds end train along lines successful business need mindset job execute well today job execute today learn todays challenges address tomorrows solutions best people time well company time way find constructive whether specific industry specific weakness want address need successful personally accomplish balance rigorously maintaining two nonwork facets life take time get away business occasionally work hard balancing business family time like take one week every three months get away sit think read put week book make sure secretary doesnt fill time slot need time outside daytoday rush think business going best supported going forward would urge employees something like taking day every friday summer enough get see forest trees thats handle longterm leading consultants needs balance life important give extra time go early morning sometimes im office get home late night work emails night im im gone im gone also children extraordinarily important achieving balance life leave three afternoon days son plays baseball high school varsity team go take lawn chair sit watch play pm game starts pm phone im sitting watching game watching son gives balance doesnt bother work early working email night time son important take time would advise every person organization find balance people differently different organizations people get early people turn computer leave thats night leave weekends methodology important result future consulting youre going see continued explosion consulting business next five ten years inside minds companies going outsource theyre going looking specific expertise drive organizations forward theyre inclined sitting organization organizations adapt recombine merge business today future continue see explosion industry organizations inclined get specific data need need organizations willing pay premium opposed keeping workforce fixed basis get dayin dayout think business good one bet think growing absolutely see corporate dynamics favor consulting organizations growing growing take example talents skill sets necessary todays solutions complicated today often crossfunctional one alone create solutions appropriate environment team reach appropriate solution also question demographics people leaving workforce leave spaces organizations fill organizations fill spaces internally look externally trend look externally people less inclined tied one organization inclined leading consultants responsible careers much easily consulting environment one organization increasing trend working home telecommuting play role leading consulting organizations going forward consulting business going continue expand upcoming years im glad part exciting vibrant industry thomas j silveri chief executive officer president drake beam morin dbm position assumed april responsible handling daytoday management companys global operations assuming role mr silveri chief operating officer dbms us operations also previously held position senior vice president finance administration responsible dbms accounting department financial planning analysis group information systems facilities management functions joining dbm mr silveri obtained years experience specialized fields media business public relations advertising research previously mr silveri executive vice president finance inside minds administration hill knowlton prior controller jwt group leading consultants future marketing consulting david frigstad frost sullivan chairman inside minds direction marketing consulting future marketing consulting industry looks positive many trends technologies come together enhance relationship consultant client information side see accelerating integration internet competitive intelligence crm market intelligence kms integration combined increasing demand ethics market competitive data collection support companies efforts outsource strategic informationgathering strategy formulation primary consultants relationship consultant client become much seamless future information shared among players given projects including global enterprise external partners include consultants vast number emerging disruptive technologies rapidly globalizing economy significantly increase demand multitalented consulting teams possess many specific skills make projects successful traditional internal teams skill sets perform successful global projects time frame meet financial success demand specialized market technical consultants working close cooperation strict confidentiality clients much leading consultants common coming years appear consulting companies ready transition exciting things consulting tremendous amount fun working different executives completely different cultural backgrounds one day youre germany next day youre china youre japan everyday everyone looks business different perspective go kinds challenges really great pleasure learn cultures meet people hard say exciting crosscultural interaction lot fun rewarding changes business environment biggest single shift business environment toward globalization started project germany german market project japan japanese market always regionally focused percent clients come us want every region world covered wasnt happening ten years ago inside minds trend toward globalization means consulting company completely reconfigure global team analysts specialties even makeup years ago probably percent staff american british today less half staff born united states really need multicultural focus business clients asking whats going different countries second biggest change internet internet given clients incredible leap valueadd integration knowledge management techniques principles simply couldnt paper going interesting internet causing pure flow information never world based paper lot papers large consulting companies could draw suddenly internet puts large consulting companies great risk client looking specific technology specific issue go internet exposed hundreds companies focused need forced go large brand name consulting companies get intelligence think one result fragmentation business might happen huge impact large companies grow slowly many boutique leading consultants firms going forward least theres big risk happening another big trend toward integrated approach client applications see lot clients frustrated get customer information market share information companies polling customer base theyre getting market information analysis strategy frost sullivan get regulatory news government news newsletter get econometric data economic forecasts suppliers get customer demographic information companies beyond none information integrated even though correlates well customers dont time make sense different data great pressure going forward integrate information something holds together leveraged help client create strategy frost sullivan founded focused competitive data started customer survey centers collect data looking closely econometric forecasts data industry adding demographic tables integrating information makes sense conflicting clients use rapidly think trend toward clients wanting consultants integrate broader spectrum information well strategy inside minds success means good marketing consulting much focused marketing aspect clients portfolio sit longterm clients go projects weve done lot work new product development product launches things nature see success terms killing bad idea making new product launch effective clients sometimes hard time relating stopping rd project seeing great success point stopping bad ideas success even though write quite bit rd investment go back look roi project including future expenses project see positive return stopping doesnt make sense promoting something make sense measuring success difficult thing however consultants become partners larger clients youre working closely marketing associates ceos business development executives partnership becomes little harder measure success even though know speed decisions integrate information better provide new insights strategies end day smile face ceo stakeholder tells youre right track leading consultants measuring marketing consulting success become lot harder time clients expectations integration data knowledge management helping implementation increased significantly client teams gotten larger past would deal one person one company suddenly dealing global team project development managers harder measure success youre trying keep people integrated happy satisfied youre instead one definitely gotten harder measure success know youre right put lot pressure companies constantly improving today least twice good five years ago think consulting companies following track well opportunities consulting lot opportunity sits application consulting studying job functions within client understanding enough make particular executive powerful impact company really first understand objectives executives title applications go along objectives need consulting methodology applications often see research design inside minds methodology applied application applications different dont get accurate results good strategies emanating onesizefits approach one way realize opportunity really finetune consulting process specific application think thats probably difficult thing learning really great get top one example acquisitions companies poor job conducting due diligence acquisitions poor job understanding acquisitions position within customer group within landscape specific methodology analyzing things application acquisitions increase companys success rate see consulting firms using methodology regardless challenge real opportunity develop expertise one applications successful methodologies know application youll know go beginning either identify challenge client key application going thats identified find pertinent data address challenge leading consultants think lot consultants fall apart say youre launching new technology level important get proper data entire client population least statistically significant sample size depends segment client population part methodology importantly questions ask forum ask often done internet surveys telephone surveys depending application might need go facetoface surveys might need look focus groups five six different ways segment client population five six different research instruments get information population addition youre working customer groups competitive landscape theres regulatory landscape add mix lot options permutations look youre trying solve problem could end using five six methodologies depending application one methods really specialize getting right information client base product looking also look competitor products disruptive technologies really round whole spectrum strategic options one methodology found useful quite clients using measurement like brand recognition inside minds today theres increased emphasis brand recognition equity brand value go clients interview competitors clients customers well ask questions brand recognition brand recall find largest clients customers cannot remember companys name product really shock client tendency within company successful product arrogance grows grows point become completely blind whats going marketplace look brand value going looking diverse section consumer database come back reality check brand really provided tremendous value lot clients suddenly realize thought point theyre actually point c creates valueadded discussions strategies get back track keeping pace markets think tremendous advantage employ analysts track nine different industrial sectors fulltime youre constantly talking vendors talking customers talking regulators probably countries around world keep pace going helps keep leading consultants focused strategic challenges well facing consolidation pharmaceutical industry generic pharmaceuticals current global economic recession studying analyses go see ceo vp business development already information know keeping morning thinking cant go client ask kind consulting needs today go say wed like talk company addressing problem challenge opportunity usually gets positive response multimillion dollar billiondollar impact company differences among consulting companies different types consulting certainly huge boom consulting implementation end business recent years dont really put realm boom made companies like accenture successful management consultants like boozallen mckenzie theres marketing consulting look place inside minds consultant pertains new product development emerging technologies market strategies things nature first easiest way segment consulting industry functional expertise separating marketing finance techs etc go next reasonable segmentation would industry example mckenzie believe different industry segments groups third dimension matrix segmentation strategy would application would categories new product launch product development mergers acquisitions compensation consulting compensation consultant depends type application youre working example suppose youre working implementation project believe companies want fixedprice contract rather hourly contract go hourly charges youre putting pretty big hole boat things go way budget someone pay either client great way lose client send bill didnt expect leading consultants types projects financial side clients strong preference pay whats saved various processes systems payment much riskbased payment sector consulting side prefer work clients annual subscription base call strategic alliance partnership know exactly much capital going get month year client allows us use money get client needs actually unproductive one level us continually involved bidding process projectbyproject basis many different models pricing think least effective projectbyproject model consulting side put price cover fact might get agreement also include sales marketing expenses client thats value added part equation best characteristics consultants integrity important trait consulting firm thats company really stands behind work behind people inside minds identify clients consulting companies integrity dont end legal squabbles consulting partners dont long contracts sign penalties work handshake onepage letter agreement ones respect arent many ones run businesses like awe managing turbulent times company certainly touchy year managing economic slowdown several client groups would call deep recession couple years look closely trying develop system match salary expenses bonuses pay employees end day virtually client revenue goes back staff make know succeed succeed client pays salaries company focus making clients happy generate repeat business slowdown like alter salary packages decrease base pay increase incentive pay success course motivating economic downturn everyone understands leading consultants economic slowdown think whole consulting industry experiencing certain amount right also manage consulting approach turbulent times like customers viewpoint goes five years next quarter working closely find customer pockets want find economic forecasts countrys gnp specific market sectors medical ultrasounds specific types memory chips example customers proactively calibrate business shortterm prospects going look like make clients proactive market changes theyre going save hundreds millions dollars continue produce higher market turns sales drop theyve already lost money two three months theyre going lose money another two three months restructure get consultants see changes advance tell clients start proactively recalibrate business according markets going save hundreds millions dollars managing growth really important companies well recession well youre proactive recession economy booming every company going aggressively acquisition programs inside minds acquisitions expensive boom times economy slowed time companies aggressively acquiring new companies get incredibly good bargains right prices companies happens instead though companies run together like lemmings people using good strategies right everyone pulling horns instead taking advantage situation merger acquisitions front great opportunities increase market share get rid key competitors balancing risk frost sullivan given point time like percent investments highly risky places terms product development services clients expansion partners derive fun life challenge business taking risks seeing ideas work firm unique company owned handful partners dont think partners motivated money far motivated seeing ideas work valueadded programs clients work always investing way think take tremendous amount risk think leading consultants prudent consulting companies wouldnt take make big mistakes future unrolls exciting times ahead exciting ideas pipeline every dime make reinvested risky future ideas would say probably balance risky side best advice best piece advice ive received high school gymnastics coach looked said dave cant make steak hamburger probably first ten years career spent way much time either bad projects people werent wellsuited consulting industry tried turn firstclass consultants thought coachs message caused much much aggressive developing consulting team similar passion want committed trying accomplish see people dont fit team dont spend time trying indoctrinate apologize sounds little cold think people really passion make jobs easier best piece advice regarding balancing life work person said businessman inside minds deathbed never says wishes spent time work despite saying think consultants unhealthy lifestyle including right ive hotel last days working project wife family arent exactly thrilled best advice keep lifes bigger picture front us time see role remember god didnt put us earth run consulting business think gets balance consultants leadership running consulting company puts profound pressure developing leadership skills consulting industry change projects every day clients every day industries every day staff bright individuals lots ideas difficult people manage bright leader consulting company tremendously strenuous hugely challenging ive sat leadership post frost sullivan happens time weaknesses highlighted move forward almost dont gain confidence leader learn great leadership leading consultants one skills commitment conviction direction youre taking company many varied viewpoints disagreements arguments take company dont really lot time rethink companys direction every time theres problem keep edge industry important leader go see ceos client base consulting companies demands put keep top game enormous ideas another ceo give minutes worth youd get month two company best way stay edge live clients company take time spend time consultants another thing learned cannot communicate enough cannot let communication slow point people know company going major objectives status objectives give large doses positive feedback accomplishments going company inside minds staffing good team think passion underlying component everyone good team second thing greatly increases clients satisfaction even goes well beyond satisfaction developing crossfunctional team multiple disciplines goes segmentation mentioned earlier several people indepth knowledge different applications many cases crosscultural team asia europe north america south america different experience backgrounds think past consulting companies homogeneous race background think big consulting companies starting see doesnt always make client base companies work getting revenues world theyre facing multi cultural issues application issues world increase probability youll find every problem address every problem meet every challenge good team working projects least likely succeed managed one two people similar background two people get along well good little friction leading consultants golden rules consulting sounds trite important customer focused get inside clients mind able look consulting company customers eyes look client eyes sounds obvious us competitors one biggest golden rule hard develop insight consulting companies success grows arrogance arrogance grows blindness thats rule number two resist arrogance seen attitude know everything top everything many consulting companies even doesnt work anymore consulting industry intimidating clients educational background knowledge industry accepted anymore david frigstad began career marketing consulting analyzing trends hightechnology asian european direct investment united states department commerce began supporting european manufacturers electronic equipment entering us market cofounded market intelligence research company mountain view california company specialized hightechnology inside minds marketing consulting research strategy market intelligence acquired frost sullivan combined company called frost sullivan offers full line consulting services competitive benchmarking corporate training employs professionals worldwide frigstad designed market engineering consulting process extensive worldwide consulting business experience process creates foundation methodology frost sullivan performs consulting research work market engineering measurementbased marketing system designed drive marketing efficiency improvement market position frigstad lectures tr ains throughout world frost sullivan market engineering system career mr frigstad authored several books including venture capital proposal package market research forecasting healthcare industry market engineering competitive engineering customer engineering cost effective market research high technology market research market research forecasting industrial markets currently working new book entitled strategy engineering measurement based strategy development systemleading consultants mr frigstad lectured trained extensively around world competitive benchmarking market engineering customer engineering business strategy popular speaker many industry conferences including competitive benchmarking telecommunications industry medical device industry annual conference automotive aftermarket annual conference frigstad holds bachelor science degree mis management received masters degree japanese business administration japan american institute management science association sophia university tokyo japan also holds masters degree business administration double concentration international finance international marketing indiana university leading consultants rules changed john c cauliffe general physics corporation president inside minds excitement consulting exciting aspect consulting constant change clients present new challenges every day theres constant motion always new ideas unique issues dynamic business good consultants people embrace new challenges fact much related helping clients manage constant change become part everyday business life theres real sense satisfaction comes provide solution client save money make efficient productive advent learning management systems created great deal excitement learning education arena systems implemented development critical business processes ability deliver critical training using technology grow significantly also provides opportunity outsource large components training function providing customer high level expertise significant growth gp biggest changes advances technology biggest drivers consulting everybodys trying things better leading consultants faster thats going continue pace technological improvement continues increase weve always hired best brightest specialists available consultants extensive backgrounds engineering specific technical areas days really place great emphasis keeping people ahead technology curve technology aside quality consulting always come real human beings working closely together using experience create innovative solutions benefit customer really tools pace change history worked predominantly regulated industries law dictated lot work today requirements arent weve transform organization provides solutions companies need reduce costs improve use technology forced us creative show measurable return investment services provide see lot situations may compensated award fee rather strictly fixed fee lot situations days metrics developed evaluate performance thats good consultants customers alike inside minds art consulting artist sees world unique way good consultants good consultants look client situation eyes expert rapidly identify issues preventing reaching goals quickly delivering innovative solutions implementing creativity big part visualizing big picture details building better system mind transferring customer via training technology true success comes conduct assessment upfront analysis prove solution performing actual implementation delivering set recommendations akin painter producing sketches wed rather deliver complete proven piece consulting firms capable implementing recommendations going successful companies going forward consultants must also proficient art relationship building people person specific industry needs must able communicate effectively customer speak language rely us advice experience industry thorough understanding customers concerns critical building trusting relationship leading consultants understanding industry going important keep track industry look outside world every staff performs necessary research keep us aware trends occurring inside outside current market sectors also subscribe research analysts fact nobody crystal ball business change second based happens economy customers thats try stay close client even currently assignment regular interfaces client help us understand theyre going want go issues theyre grappling also reminds value relationship obviously part trade organizations helps certain degree internally conduct periodic strategic planning meetings make sure heading right path share knowledge related industry future business prospects ideal client relationship know weve become partner client theyve made us part strategic plan means weve earned trust respect judgment inside minds always best brought front coming late game difficult many cases things previously overlooked things change costing customer money client looking learning resource management system want help analysis assessment look current processes discover processes need change system implemented always better start relationship clean slate things right first time methodologies assessment follow many branded processes whether assessing training program learning management system ability within organization design develop training use combination proven processes along customized solutions depending situation key assessment process rigorous structured also flexible organization different assessment must blind new situations generally speaking take look size organization type training might needed technology might available deliver training leading consultants reporting logistics requirements relating objectives organization wants reach perform assessments tell best way run training function experience weighs heavily weve developed considerable arsenal best practices based experience may recommend outsourcing training delivering inhouse may someone administer program provide vendor management function may take whole training function organization also determine business model used best evaluate measure training function whether cost center profit center whether provide services internally organization look outside resources getting speed gp hire worldclass subject matter experts people understand specific industries extensive experience software package technology drives current assignment gives us leg also count fair amount indoctrination knowledge transfer client andor vendor providing software technology inside minds people rapidly get speed software technology needed company theyre working part assignment really enough subject matter expertise minds people finished weve transferred subject matter expertise minds clients differences firms large consulting firms example accenture niche players thats fit expertise certain market centers education arena technical area versus price waterhouse coopers might much broader based consulting firm nature consulting market sectors operate ability bring market expertise probably key differentiating factor us place like accenture place heavy emphasis implementation pure consulting assessment components larger consulting firms geared toward assessment component consulting environment leading consultants turbulent markets turbulent market crisis important stay focused clients core market sectors weve tried grab market share arenas versus trying branch significantly dont want mile wide inch deep tough market place best operating number core market sectors core clients weve done good job able grow presence weve make sure workforce somewhat variable keeping fulltime employees parttime consultants go ebbs flows come turbulent market dealing clients strive reduce costs increase efficiency quality clients focused slashing costs stay focused helping make technology people efficient effective allowing drive waste organization easy profit turbulent economy one things helped us ability provide outsourced services companies trying make workforce much variable move cost base revenue swings outsourcing way inside minds really focused consulting learning resource management area learning resource management different way saying outsourcing learning resource management systems enterprisewide software systems help large organizations put hands around whole training function helps logistics scheduling recordkeeping development delivery training organization companies outsource noncore activities also access expertise training core competency us customers get training initiative run like business experts field customers able free burden fixed costs receive topnotch training initiative time risk risk ingrained business theres way avoid take chances choosing customers want focus market sectors services want focus consulting organization constantly providing new different services weve tried keep aware market sector client base service needs theyre going looking future allow us allocate dollars right places leading consultants whether development new services hiring new people advertising marketing things many decisions many possibilities guarantees last couple years weve tried gather much information making decisions past things going well didnt wing might done much research gained much knowledge making decisions today dont want take risk percent chance success good times could things tough times bad decisions magnified leadership intelligence important leaders get right information make prudent decisions leaders confidence taking risks willing make tough decisions many leaders get whats called information gridlock get situation make tough decision cant bring make leaders need fortitude make decisions regularly sometimes even gathering input associates allowing people voice process inside minds decision deviates recommendations honesty openness communication critical point explain youre going take direction youre going take tough wellreasoned explanation goes long way toward getting people onboard leadership model gp tries follow servant leadership leaders expected everything ensure success organization model prompted corporate climate survey conducted determine effectiveness existing leadership teamwork practices actually turned focus time subjecting company tough assessment climate survey needs assessment identified specific shortcomings leadership behaviors leadership boot camp designed developed rolled immediately address leadership training development teamwork battlecry boot camp leadership teamwork drive performance top three tiers corporate leadership trained second climate survey administered results indicated dramatic positive change occurred dramatic lasting culture change gp valuesbased employeedriven environment every employee welcomed business partner fellow steward responsible accountable companys success leading consultants sometimes leadership means taking risk someone backing employees new idea giving people freedom job way suits best great leaders earn respect employees provide environment fosters every individuals growth leaders must understand people treat right people willing come leadership support need consulting business dont treat people right youre business youre really nothing without employees building team weve instituted behavioral interviewing process within gp try make sure people hire fully understand job theyre going looking people willing travel thats unfortunate part existence something people understand need people willing take new different challenges weve worked hard make sure people understand expected overall looking people specific industry expertise people strong communications skills new employees trained understand dedication customer service consistent corporate values inside minds core internal training course exceptional customer service stresses importance carefully managing relationship managing every transaction customers internal external believe best way foster teamwork understand everyone deal customer number one customer also lot training areas negotiation internal performance management conflict resolution hope things combined given people tools necessary handle difficult situations first foremost though tell everybody best way deal conflict address directly important make sure issues arent hidden pushed side make sure engage honest open communication customers internally critical make sure individuals working team bring different strengths project giving customer access personnel diverse proficiencies knowledge people may technically oriented others may business process oriented others may relationship oriented like able make sure team covers bases completely thats always easy many times well dealing lot individuals different agendas different ideas assignment really leading consultants important people mesh well client organizations culture well goals plans unique process organization goals planning threeyear plan update annually looks next year also year year years ago went alignment process took leadership organization refined vision statement aligned unified force direction agreed arranged pieces organization fit vision established set corporate values based alignment process importantly participate leadership boot camps twice year intensive training instills leadership company corporate values ensures everyone aware strategic goals company boot camp format allows input everyone inclusion continual strategic planning company inside minds future consulting use technology going expand arena ability deliver training web key implementing maintaining learning management systems going growth area industry whole think whole idea implementing solutions non core competencies going important read paper every day people laid united airlines american airlines companies want much variable cost base better manage times outsourcing key ten great years virtual growth companies got habit costconscious business models allow ups downs teach us lesson industry variable cost base golden rules consulting know customer subject matter expertise key consultants must understand details clients business issues industry technology leading consultants consultants must excellent communicators may best answers world cant articulate theyre worthless solutions consultants bring clients must tangible results must measurable return investment whether increased productivity reduced cost new technology getting current technology customers spend lot money services deserve excellent return investment stick values good times bad times really easy tough times abandon things made successful bad times remember made successful company individual keep mind tough times generally brief companies stick values come right people get roles leadership get theyre generally pretty intelligent also theyre willing work hard working hard means working smart balance life times time go home cant feel guilty didnt work hour day days okay work less matter life needs balanced long term youll better inside minds person better employee life isnt balanced problems going creep work life major impact read everyone industry lot reading keep things work hard touch customers consistent basis know youre youre hearing problems youre hearing issues internally important stay touch people constant discussions within organization president general physics gp john c mcauliffe guided strategy operations made gp world leader performance improvement services gp provides consulting training technical engineering services fortune companies named president mr mcauliffe served companys chief operating officer chief financial officer addition member board directors gps corporate parent gp strategies corporation joining general physics mr mcauliffe worked arthur andersen graduating loyola college baltimore maryland quarterly issue focuses pressing business issues trends emerging 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