Better Strategic, Line, and Portfolio Decisions Arguably, management is decision-making. For the purposes of adding value to clients, we can distinguish between strategic, line, and portfolio decisions. People make decisions on the basis of their mental models, or ways of thinking about the world they live in. By understanding group and individual decision-making processes, we can add value to those decisions, and enrich the mental models clients use in their decisions. Two specific approaches to facilitating clients in making better decisions scenario planning and war gaming are studied.
Capabilities stem from a fusion of effective business processes and skills.
There are a variety of approaches to implementing and enhancing business processes and developing client skills. To be most effective both depend on experiential learning, meaning building joint client and service provider teams, and introducing coaching-style relationships. It looks in detail at the emergence of digital channels, including extranets, and how computer-based training and other approaches can enhance knowledge flows with clients. Some of the key skills include managing the knowledge gatekeepers and implementing practical approaches to project handover. Effective relationship management is based on defining the key knowledge roles at the professional service firm and the client, and structuring the relations between these in ways which allow interaction, knowledge transfer, and intimacy to flourish.