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Grow or Die. It’s probably the most common business axiom, and the least accurate, according to the new book “Smart Growth: Building an Enduring Business by Managing the Risks of Growth” (Columbia Business School Publishing). To better understand the book’s implications for firms, Consulting’s One-on-One sat down with the book’s author, Ed Hess, a former Arthur Andersen strategy consultant and current professor at the University of Virginia's Darden Graduate School of Business.
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When prospective employees interview for a job, they obsess over making a good, lasting impression. Firms should do the same. To learn how firms can avoid typical pitfalls, Consulting’s One on One sat down with David Litherland, managing partner of Summit Search Group, an executive search firm specializing in placing professionals within professional service firms.
- »One on One with PwC's Tom Craren
Senior executives are becoming immune to traditional marketing. Marketing consultants tell us that to pierce through the white noise of corporate communication, firms should consider “content marketing”. Instead of more traditional marketing, providing valuable insight and perspective in a blog or electronic newsletter can serve as a more effective door opener. One of the best examples is PricewaterhouseCoopers’ “10-Minute” series. For almost three years, PwC has boiled down complex thought leadership into small electronic pieces an executive can read in about ten minutes. To learn more about PwC’s marketing efforts, Consulting’s One-on-One sat down with Tom Craren, the firm’s brand strategy and thought leadership leader. His team of 20 writers produces between two to three 10-minute pieces each month, along with more detailed white papers.
- »One on One with Stanford Hospital's Kate Surman
Transitioning healthcare companies from paper to electronic records presents huge consulting opportunities.
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»Top 25 Consultants, 2009: Claudia D'Arpizio
 Claudia D'Arpizio
Partner
Bain & Company
Excellence in Retail
In this economy, it’s hard to imagine a more challenging consulting job than Bain & Company’s Claudia D’Arpizio: helping luxury goods manufactures/retailers market their products. “It’s not just that consumers are buying less. But there’s now a shame in showing off. Consumers are being criticized for spending too much money,” she says.
As a result of these pressures, she estimates that the luxury goods market will contract by about 10 percent in 2009. “In my opinion, this market reacts more sharply to the economic shifts,” she says. “When the economy improves again, we will have a dramatic improvement in consumer confidence,” which will lead to a pickup in luxury purchases.
For now, D’Arpizio has to dip into her 15 years of experience focusing on the luxury goods industry to find ways to get her clients through this downturn. While advice varies by client, generally, she is pushing her retail clients toward more online purchases, which has a lower barrier to impulse shopping. She has also found success in encouraging luxury retailers—especially men’s stores—to open earlier and stay open later for “special events.” This approach not only makes the customer feel important, but it is especially effective for buyers that do not want to be recognized shopping for luxury items. She’s also helping clients change their product mix, helping to make items less ostentatious and push more value for the money.
D’Arpizio has well positioned Bain’s own brand by working with the trade group Altagamma on an annually-updated database and study of more than 220 luxury goods companies worldwide. The annual findings, now in its ninth year, is one of the most sought after Bain & Company intellectual property assets—frequently requested by luxury goods company executives, top-tier academics and both the international and local market media.
Brand-conscious clients also are keenly aware of Bain’s own brand in this space. “For sure, they are professional in understanding the value of a brand. And they realize that our brand stands for related experience and the ability to put together a great team,” she says.
—Jess Scheer
>> Full list of Top 25 Consultants 2009
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