The 2014 Executive Outlook: Deloitte's Jim Moffatt

Q: Where is the firm today?
A: We finish 2013 feeling excited about our people, our clients and our business. Throughout the year we saw consistent demand for our services, and what has been particularly gratifying is that clients look to us to lead across industries as well as in services like strategy and operations, technology and human capital. We have also expanded our efforts to team globally to better serve our clients, and expect that trend to continue. This year, we added specialized expertise, capabilities, and talent through hiring, strategic alliances, investments, and acquisitions.

We were very pleased with the acquisition of Monitor Group and other great businesses this year; each one was a good fit for our firm in terms of both culture and capabilities. One thing that was a bit of a surprise this year—a pleasant one—was the resiliency of our federal practice in a turbulent period. Outside of the government shutdown, that business was strong throughout the year and we feel very positive about its future.

Q: How would you describe your firm's outlook for 2014?
A: As in previous years, we expect to continue to take market share as our growth outpaces that of the consulting industry as a whole. Among specific sectors, we have seen significant demand for our health care services and technology. Technology is so pervasive that today it is integral to strategy discussions. CEOs have had to become increasingly tech aware, which is a shift from the way the business world operated 10 to 15 years ago. We've also seen remarkable demand for our integrated market offerings, especially for our digital and consumer offerings, which have received an enthusiastic response from CMOs. By combining robust analytics with deep customer and industry knowledge, we are able to help CMOs stay closer to their customers. We continue to invest in our ability to deliver against these client needs.

Q: What specific signs are you seeing that suggest an increase in demand?
A: Overall, when corporate profitability is strong, as it is now, demand for management consulting is strong because organizations have more financial ability to invest in the future. Demand is high for firms that can help clients identify growth opportunities. We feel good about our ability to deliver that kind of thinking, and believe the firms that help clients generate measurable growth will emerge as the strongest.