Kennedy Corner
»JP Morgan and The Whale: A Parable
After a tumultuous period of banking hyper-regulation after 2008, no one would have suspected in 2012 that JP Morgan, the world’s largest bank, had ineffective controls in place that left the company flat-footed when its “rogue” trader had taken untenable, long-term positions on Credit Default Swaps.
»Optimizing Manufacturing Strategy
Bloomberg News recently reported that GE intends to use 3D printers to produce 85,000 fuel nozzles for its newest jet engine, a significant leap for a technology that until now has largely been confined to prototyping tasks.
»‘Post’-Ideological Privatizations
We may be witnessing the start of a new wave of privatizations, which will see governments throughout Europe significantly increasing their sales of assets across a wide range of economic sectors.
»The Jetsons and Cyber Security Measures
As a child watching the animated TV show The Jetsons I was convinced they lived the ideal life. The Jetson family had technologies and gadgets used in everyday life that seemed unfathomable as I watched in the 1980s.
»U.S. Healthcare Reform and Integration
While each week in the U.S. different reports come out about key aspects of the US healthcare reform being adopted, implemented or delayed, fewer elements of the Affordable Care Act’s (ACA) impact are clear.
»Financial Services: Shooting from the Hip
It became rapidly clear as the economic crisis spun out of control in 2008 and 2009 that new regulations were coming, and those expectations were not disappointed. Governments around the world rose to the anger their constituents felt as jobs were lost and homes foreclosed on, and sweeping new regulations were enacted. Some were carefully thought out, but others more resembled what could best be described as “shooting from the hip.”
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Travel Advisory
»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.
»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.)
»Hilton’s Building Boom
Coming off a whirlwind 2012, Hilton Worldwide is the fastest growing global hospitality company by number of rooms.
»Extended Stay America Serves Up Free Breakfasts With ‘Grab and Go’
Extended Stay America launched a new Grab and Go Breakfast program, which is available seven days a week from 6 a.m. to 9:30 a.m. at all of its more than 600 locations.
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Book It!
»The Three Rules
Earlier this year, Deloitte Consulting’s Mumtaz Ahmed and Michael Raynor published The Three Rules: How Exceptional Companies Think. The authors set out to answer what was, in their mind, the ultimate business question—how do some companies achieve exceptional performance over the long haul?
»Thinking in New Boxes
Creativity is key if you are to thrive in a time of accelerating change, according to The Boston Consulting Group’s Luc De Brabandere and Alan Iny.
»The Effortless Experience
We live in a golden age of customer service, when many executives say their goal is to ‘delight the customer.’ It’s a worthy goal, for sure, but what if it’s wrong?
»The Solution Revolution
What drives the social economy? What opportunities does it present for business? William D. Eggers and Paul MacMillan set out to answer these questions and more.
»Author Q&A: PwC's Ted Shelton
PwC’s Ted Shelton’s book Business Models for the Social Mobile Cloud: Transform Your Business Using Social Media, Mobile Internet, and Cloud Computing, examines how the three technologies are coming together to transform businesses.
»Review: The Three Rules
Why do some companies achieve exceptional performance while so many others struggle to survive? That’s the question Deloitte’s Michael Raynor and Mumtaz Ahmed—along with an international team of dozens of researchers at Deloitte—set out to answer with their book The Three Rules.
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»Do you think geopolitical unrest, such as the situation in the Ukraine, will impact your business?
»Data Watch: How Do You Anticipate Your Firm's Revenue and Net Profits Will Change in 2014?
This Week in the Profession
»Julie Howard to become Navigant's Chairman when Goodyear Retires in April
Navigant announced today that William M. Goodyear will retire from its Board of Directors at the Company’s 2014 Annual Meeting of Shareholders. His term of employment as Executive Chairman of the Company will conclude on April 30, 2014. Julie Howard, CEO, will assume the role of Chairman effective May 1, 2014. Howard has been CEO and a director on the Navigant Board since March 2012.
»Fraser Smart Named Head of Buck Consultants
Buck Consultants announced that Fraser Smart has been appointed head of Buck Consultants worldwide and will relocate to the New York office.
»BCG Digital Ventures Launches
The Boston Consulting Group, one of the world’s leading management consultancies, announced today the launch of BCG Digital Ventures, a digital innovation, product development, and commercialization firm.
»Impact Advisors names Chief Medical Officer
Impact Advisors announced today that Dr. Steven Schlossberg has joined the organization as a Vice President and Chief Medical Officer.
»Huron: Hospitals need to cut costs
Huron Consulting Group announced the release of a new Huron Healthcare report which indicates that even healthy hospitals will need to reduce cost by 20 to 40 percent.
»A.T. Kearney grows partnership 12%
A.T. Kearney grew its global partnership by 45 partners in 2013, an increase of 12 percent over the last year.
»Revenue Up 8.4% at BearingPoint—Yes BearingPoint—to $750M
BearingPoint, a Europe-based leading management and technology consultancy, recorded revenues of $750 million in 2013, up 8.4 percent over 2012.
»PeopleFirm pushes the performance ‘preview’
PeopleFirm, a firm that specializes in designing and implementing workforce solutions, is changing the conundrum of performance management by replacing the Performance Review with the Performance Preview.
»Buck: Employees Manage Better with HSAs
Employees who contribute to health savings accounts (HSAs) generally become more engaged in managing their health after enrolling.
»Conway Mackenzie Wins Award
Conway MacKenzie, a financial advisory firm in the middle market, is proud to announce it has been recognized as one of the nation’s Outstanding Turnaround Firms for 2013 from Turnarounds & Workouts, the leading industry publication.
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CMAG.COM EXCLUSIVES
Features
»Avoid Consultant Hiring Mistakes: Assessment, Due Diligence and Risk Mitigation
Boy, wouldn’t you hate to be the recruiter responsible for screening the faux sign-language interpreter for Nelson Mandela’s memorial service in December?
»Big Data: Problem Scope and Solutions Overview
Companies have had data about their key stakeholders for as long as they have existed, more recently we have been applying technology to analytical to solve problems for as long as we've had computers, so what's new and what's different here?
»2014 Consulting Market Trends—Your Firm’s Response
All indications suggest nearly double-digit revenue growth within the consulting sector in 2014. That’s excellent news. Targeting high-opportunity industry sectors—like healthcare and energy with high-demand services – like sales & marketing and operational improvement—will be essential for your firm to carve out its segment of the revenue pie.
»Building an Innovation Culture in High Performance Organizations
Gaining exceptional performance varies with industry—but is it the consequence of decisions or discoveries?
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Interviews
»One on One with WTP Advisors’ Kathi Mettler
Seeking a way to improve the company’s internal training methods, tax advisory consulting firm WTP Advisors has hired Kathi Mettler, a longtime Director in the International Tax Services Group at PwC, to serve as their Director of Learning and Education.
»One on One with the Corporate Strategy Institute’s Dr. Sarah Layton
Dr. Sarah Layton has sort of done it all. The founder and CEO of the Corporate Strategy Institute started out as a teenage welder in her father’s company. Layton formed Corporate Strategy Institute, a boutique strategy firm, in the early 1990s after getting her doctorate in business. Ever since, she has helped companies maximize their revenue potential and growth, and bring their corporate vision to reality.
»One on One with BCG Digital Ventures’ Jeff Schumacher
Today, digital expertise is not something that’s nice to have. It’s mandatory to stay competitive. The Boston Consulting Group has launched BCG Digital Ventures, with the sole purpose to partner with clients to help develop, launch, and transform their digital initiatives. The new firm is led by Jeff Schumacher, former Managing Director and Cofounder of Booz Digital.
»One on One with Nuevora’s Phani Nagarjuna
All consumer-facing companies have mountains of customer data, but until recently the value proposition for all that data was left largely untapped. Phani Nagarjuna, founder and CEO of analytics consulting firm Nuevora, wants to change all that.
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Consultants on Consulting
»Mind Your Tribe
In his book “Tribes,” Seth Godin makes a compelling case that we are all tribal members—that being tribal is part of being human. Godin notes only two things are necessary for a tribe to form: shared interest and a way to communicate. By this definition, every business is a tribe.
»Anti-counterfeiting Technology and Pharma Packaging
Intangible assets constitute a considerable share of many companies’ equity. They are often the result of extensive investments in research and development, careful brand management, and a consistent pledge to high quality and exclusiveness. Counterfeiting of goods is becoming a huge problem for our society.
»Run your Project Like a Rock Concert
I was recently on a run listening to one of my favorite live albums, “Alive,” by Daft Punk. However, this time I found myself not just listening to the music, but listening to how the crowd responded, the transitions between songs, and timing of the drops and crescendos.
»The Strategic Innovation Framework Methodology
Innovation is a key factor for a firm’s growth and long-term survival. But innovation is a like a coin with two sides; it can be “incremental” by adding to existing processes, or it can be “radical” by making existing processes redundant and demanding new technology, expertise, and resources to establish fresh processes.
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Focus: Client Industries
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High Tech
»IBM Launches ‘Interactive Experience’ Consulting Practice
IBM unveiled a global consulting practice that anticipates the emerging client demand for irresistible user experiences as the point of entry to high-value relationships with their customers, employees, prospects and partners.
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Financial Services
»Capco’s Recruiting Push
Capco has been on a roll. The firm has grown from 100 consultants in 2009 to about 1,000 today. And they aren’t slowing down. North America CEO Ismail Amla says he expects growth in 2014 alone to be between 30 and 70 percent. To keep up this blistering momentum, Capco has launched a massive recruiting drive.
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Retail
»Retail’s Next Revolution
The Retail industry has undergone massive changes lately with the advent of digital and mobile shopping, proving a challenge for retail consultants to keep up with rapid shifts in consumer behavior. Erika Serow, Bain & Company’s newly appointed head of its Americas Retail Practice, says the industry experiences similar periods of disruption every 50 years or so.
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Healthcare
»Case Study: Let There Be Light: Lancaster General Health Turns to Richards Energy Group for Lighting Fix
Lancaster General Health has partnered with Richards Energy Group, a family owned energy-consulting firm in Manheim, Pa., to design and install high performance LED lighting at two of the health organization’s parking areas.
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Focus: Service Lines
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Strategy
»The 2014 Seven Small Jewels
One thing's remained consistent throughout every phase of the economy—Consulting’s Seven Small Jewels simply outperform the overall market every time.
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IT
»Case Study: Slalom Helps Chart a Course for Holland America’s Mobile App
Holland America Line (HAL) knew it was time to explore the uncharted waters of mobile technology, but wasn’t sure where to begin. It turned to Slalom Consulting.
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