Kennedy Corner
»It’s a Floorwax... It’s a Dessert Topping... Actually, it’s Both!
There are few sure things in the world. One might cite death and taxes, but only slightly down the list is the inevitable answer a Big Four consultant provides to the question “What is your firm’s strength?” Everything, of course.
»Show Me The Money
Management consulting is a cash business. Now salaries and bonuses within the consulting industry are certainly not at the stratospheric levels enjoyed by their kindred brethren in investment banking. But consultants generally do realize much-better-than-average wages relative to their counterparts in the corporate world.
»Will ‘Knowledge Workers’ (Consultants) Be Replaced by Machines? It’s Possible
The management consulting industry to date has been largely unscathed by the wave of technological change. However, there are signs that digital technologies are now beginning to disrupt the management consulting industry as well, with potentially deep and far-reaching consequences.
»A Force in Consumer Banking
Banks have been stepping up their customer satisfaction game in recent years against the typical market forces at play. The pace of change has been head-spinning for an industry not well known for its swift response to customers.
»Time To Simplify and Get Organized (Well, At Least Your Cloud Services)
The practice of adding cloud services in silos and based on specific department needs often results in overlapping and many different contracts with the same vendors.
»Riding the Waves of Healthcare Risk
The modern healthcare system is much like the ocean—stormy, choppy, and hostile at times, soothing, calm and inviting at others. For surfers, the more waves you go for, the more you will catch, and the more likely you’ll “wipe-out.”
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Travel Advisory
»Survey: Consultants Are On the Road Again
After years of fits and starts in an uncertain economy, travel is back in the consulting profession, at least according to the results of our annual Best Places to Stay survey.
»Marriott Goes Big in NYC
Marriott International, Inc. and G Holdings opened what they’re calling an “iconic addition” to the New York skyline, a combined 378-room Courtyard hotel and 261-suite Residence Inn hotel in midtown Manhattan. The $320 million, 68-story property is the tallest single-use hotel in North America.
»Best Places to Stay: Travel Bounces Back
Consultants are on the road again, at least according to the results of our annual Best Places to Stay survey.
»FAA: ‘Staffing Challenges’ Causing Delays
In case you haven’t noticed, non-weather related delays at U.S. airports are on the rise. (And I know you’ve noticed that weather-related delays are definitely on the rise.)
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Book It!
»Q&A: Keeping It Simple
BCG’s Six Simple Rules sets out to simplify some organizational complexity.
»Review: Leading the Life You Want
It seems that everyone has an opinion on work/life balance these days, but Stewart D. Friedman’s Leading the Life You Want isn’t necessarily one of them.
»Review: The Culture Map
Globalization led to the rapid connection of internationally based employees from all levels of multinational companies, and now those same employees are expected to collaborate with colleagues scattered all over the world.
»Review: Twitter is Not a Strategy
Today’s digital frenzy has led many to declare that advertising is dead… or at least dying. Is it?
»Excerpt: Procurement as Productivity
The following is an excerpt from the book Procurement 20/20: Supply Entrepreneurship in a Changing World by a quartet of McKinsey & Company consultants—Peter Spiller, Nicolas Reinecke, Drew Ungerman and Henrique Teixera.
»Review: The Risk-Driven Business Model
Most companies focus their innovation on new products.
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»What client industry has the most growth potential for 2015?
»Datawatch: The Best Firms to Work For survey average, 2011-2014
This Week in the Profession
»Bain & Company: China's Luxury Market Shrinks in 2014
New research from Bain & Company finds changing market dynamics create new windows of opportunity for luxury labels that focus on design, fashion and exclusivity.
»EY Teams with IBM to Support Clients’ Big Data Initiatives
EY is building on its collaboration with IBM to help global clients leverage new advanced analytics and accelerate the adoption of transformational technologies.
»AlixPartners Launches Leadership and Organizational Effectiveness Practice
AlixPartners today announced the launch of its new global Leadership and Organizational Effectiveness practice, which combines behavioral science and business strategy.
»KPMG: Executives See Cloud Driving Business Transformation
New data from the U.S. audit, tax and advisory firm KPMG, show the increased use of cloud technology by global business to better connect with their employees and customers.
»Point B opens Dallas office
Point B opened an office in Dallas, its eighth U.S. market.
»KPMG names Stephen Chase as Management Consulting Leader
KPMG has named Stephen N. Chase as U.S. Management Consulting leader of the firm’s Advisory practice.
»Jabian Uncovers M&A ‘Traps’
Only two of five M&A deals net positive returns and companies are seeking smaller strategic deals, according to the findings of a survey conducted by Jabian Consulting.
»Aspen Merges with Chartis Group
Aspen Advisors is merging with The Chartis Group to create a strategic healthcare consultancy.
»Ryan to Acquire WTP Advisors
Ryan, a global tax services firm with the largest indirect and property tax practices in North America, announced that it has signed an agreement to acquire WTP Advisors.
»Buck Consultants Launches SavIncent, Incentive-based Employee Wellness Program
Buck Consultants at Xerox is launching SavIncent, a new financial wellness program that improves employees' financial health and retirement readiness.
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CMAG.COM EXCLUSIVES
Features
»How Visible Experts Can Transform Management Consulting Firms
Any management consulting firm worth its salt has knowledgeable experts in-house. But in today’s marketplace, simply having experts on your team isn’t enough to stay competitive: those experts need to be visible to the industry at large.
»Four Tips to Avoid the Pitfalls of Over-Servicing Your Clients
Over-servicing. Mere mention of the word—which refers to carrying out more work than necessary for a customer, often at the expense of other clients and the well-being of your firm – can elicit sighs of aggravation from staff and management alike.
»The Well-Balanced CEO is a Paranoid Optimist
No company wins all the time. It’s not realistic to think a CEO won’t face problems during their tenure. I managed NetQoS through thirty-one consecutive quarters of double-digit growth, but that winning streak was bookended by the recession after 9/11 and the great recession beginning in 2008.
»HighPoint Solutions Gains Agility and Scalability for Rapid Growth with NetSuite OpenAir PSA
Founded in 2000, HighPoint Solutions has experienced exponential growth becoming the premier provider of specialized IT services globally, by focusing on serving the life sciences and healthcare industries.
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Interviews
»One on One with Navigate’s Rob Kathol
Philadelphia-based Navigate Consulting is a young firm that debuted in Consulting magazine as one of our Seven to Watch as part of our Seven Small Jewels 2014 ranking. This was in part owed to the firm’s tremendous growth over the past two years—42 percent in 2013. Founder and Managing Partner Rob Kathol says Navigate’s approach is different than many other firms.
»One on One with the Keystone Group’s Andy Rolfe
Back in 1991, Andersen consultant Andy Rolfe reached the fork in the road all-too-familiar to career consultants: to partner, or not to partner? He enjoyed his work at Andersen, where he helped them build their strategic services practice, but he believed in doing things a certain way, and knew that moving a ship as large as Andersen would take more time than he was willing to wait. So he set out on his own.
»One on One with ACME Consulting’s David Kelleher
ACME Consulting's growth is showing no signs of slowing down. Co-founder and Senior Manager and Principal David Kelleher says the firm is still looking at an annual compounding growth target of 30 percent as it expands into new geographies to help clients solve their most pressing problems.
»One on One with Robert Wise from Kennedy Consulting Research & Advisory
Consulting firm compensation is a hot button issue these days. While the industry overall enjoys solid growth, compensation at consultancies has actually remained somewhat flat. This has resulted in more consultants staying put at their firms, and lowering industry-wide attrition. Is that necessarily a good thing?
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Consultants on Consulting
»The Growing Niche for Telecom Consultants
The convergence of IT and telecom has changed the landscape of telecommunications. In fact, the term “telephony” may be dying a slow death. Today, we’re primarily talking about “communications”… “IP communications.”
»5 Pricing Strategies: More Projects at Higher Fees
Look no further than the gas pumps to see the extraordinary, often nonsensical, choices made by shoppers reacting to comparisons. You may be tempted to dismiss such behavior as irrelevant and only applicable to low-impact decisions like choosing a brand of gasoline or even a new computer. However, the truth is the vast majority of choices are strongly influenced by comparisons.
»Staying Afloat in a Megatrend World
Deep-rooted economic, social and demographic trends are changing the way we live and work. It’s down to consultants to demonstrate how they can help clients stay afloat in choppy seas and anticipate the rogue waves on the horizon, argues Hay Group CEO Stephen Kaye.
»When It Comes to Healthcare: Focus on Nursing
In this uncertain healthcare environment, a distinct demand exists for outside experts who can help guide healthcare professionals through a changing, and often confusing, regulatory environment. Consultants with expertise in a specific aspect of care or avenue of delivery have ample opportunity to influence the healthcare field—especially those who can inform and improve hospitals’ nursing practices.
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Focus: Client Industries
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Financial Services
»Banking’s Digital Transformation
To say Prasad Chintamaneni, President and Global Head of the Banking & Financial Services practice at Cognizant, is bullish on the future of the sector would be an understatement. Chintamaneni, who has some 900 consultants at his disposal, sat down recently with Consulting magazine to talk about the market, its overall potential and the digital transformation of the financial services industry.
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High Tech
»Out of Office: ACME Consulting’s David Kelleher
From studying Biology at Duke University to U.S. Army Infantry Officer Basic School, Airborne School, Ranger School, and ultimately standing in the door of a C-130 Hercules aircraft ready to jump and lead his 40-member infantry platoon into hostile territory, ACME Consulting co-founder David Kelleher is no stranger to a challenge. But when his military career was sidelined by a Multiple Sclerosis diagnosis in 1996, he was facing the fight of his life. In the early days of the disease, while suffering through symptoms including temporary blindness and limb paralysis, Kelleher kept his diagnosis mostly to himself. After coming to terms with his new reality, he decided to engage with the MS community. Since then, he’s enlisted ACME employees to get active, organizing bike rides and walks that have raised more than $500,000 for MS research since 2006.
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Insurance
»Cover Me
You say you want a revolution? Well, we’ve got one in Insurance. The industry is accelerating toward a global transformation. Megatrends, regulations, changing demographics and technologies, as well as new products and models are dramatically altering the landscape. Do consultants have it all covered?
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Public Sector
»Data Science Download
Last month, Booz Allen Hamilton announced the release of its Explore Data Science online training program, a self-paced, hands-on course geared toward all levels of data science proficiency.
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Focus: Service Lines
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Strategy
»Strategic Minded: EY Adds New Market Strategy Leader
EY is in the midst of an ambitious plan to grow its Strategy Consulting Practice to over 2,500 professionals by 2020, both organically and through continued acquisitions.
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Human Resources
»Accenture HR Survey: More Demand for Middle-Skills Jobs
Nearly three-quarters of U.S. companies (73 percent) expect an increase in their demand for “middle-skills” jobs that generally require more than a high school diploma but less than a four-year degree over the next few years.
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Featured Speakers:
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Publisher and Editor-in-Chief,
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Chief of Staff, Point B
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General Manager, Slalom Consulting
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Managing Director, Advisory Services, Kennedy Consulting Research & Advisory
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