Large consultancy firms are incubating new business models. Their aim is to compete for smaller projects at acceptable profits. It sounds alarming for the smaller consultancy firms. It in fact is. McKinsey Solutions, a smaller consultancy arm of McKinsey & Co. is selling its services to SMEs, essentially the target market of S&M consultancy firms. […]
The wholesale industry is divided into two main sectors, the durable and non-durable wholesale goods industry. SAP, a global company dealing in enterprise software, frames the main challenges of a wholesale supplier into three categories. Maintaining adequate inventory to meet demand Minimizing the cash dedicated in stock Maintaining a high service level To address the […]
A recent study by Queensland University of Technology researcher found that maintaining client-consultant relationship and time management are the most critical challenges faced by S&M consultancy firms. Consequently, marketing slips down the priority list of all partners. Six integrated marketing activities can bring your firm qualified leads, referrals & unsolicited inquires. Develop Marketing Goals & […]
As the number of systems in organizations grow, keeping a consistent and integrated view of the entire organization is becoming increasingly challenging. The problem seems set to last as the number of vendors and product options grows and these become more and more specialized. If you aren’t sure if you need an integration solution, here are […]
Systems come into play that all generates lots of data which needs to be compiled to turn it into information. Here are a few signs that indicate that a business intelligence solution can be helpful
Most IT systems are planned for 5+ years but the employees required to keep this system running have a half-life of much less than that. This brings home the inevitable reality of having to transition the project/product/solution possibly multiple times during its lifespan. The IT industry is plagued by steady growth, which means lots of options […]
This article is a continuation of our series (part 1, part 2) on entrepreneurship in the enterprise. This specific one deals with HOW to go about doing that. Below is a set of specific recommendation that can help consulting firms looking to make their teams: contribute to the top line take ownership of BUSINESS problems […]
Most companies would like their managers to take on more responsibility, help with the company’s top line and take ownership of what they deliver, in essence wanting them to be entrepreneurial within the structure of the organization. Several factors differentiate an entrepreneur from a corporate manager. The differences between the two can help develop an […]
Most consulting firms have several key partners that contribute to the company’s top line. Unlike other businesses, consulting firm’s reliance on these partners is extremely high and keeping them happy and maintaining a sense of fair compensation becomes central to the survival of the business. We enlist a few of the most popular compensation models […]
All management consulting firms, big and small, want to utilize their resources optimally. However, most don’t want to invest the time required to actually find out about ways in which it can be done. The first step however, is the easiest: improving their return on assets. For this they don’t have to do anything new. Here […]