In the recent years the idea of management instructors have changed dramatically in both, Top Management Consulting Firms and in other professional services. Management consultants have started to re-think and redefine their business, widening and enhancing their program offerings, merging or creating alliances with other consultants and professional service firms, and breaking self-imposed restrictions on the sort of work they are prepared to undertake. These changes have been brought on by a number of factors, such as growing complexity and sophistication of doing business in national and inter- national environments, market deregulation and liberalization, new opportunities for progressive consulting, growing demand for integrated and "one-stop" professional services, competitive pressure coming from other professions and, above all, the advancement of information technologies and their rapid penetration into management and business operations. In using consulting and other professional services the consumers are asking "what will add value to my business". Rather than identifying needs, devising a solution and implementing a new and "tailor-made" system for every client, a contacting firm has a range of products that are offered to all clients (or categories of clients).
Commoditization of procedures and systems is currently a feature of knowledge management and transfer. It responds to demands from clientele, who want to get the best system, methodology or approach at an affordable price, within reasonable time limits, and with a guarantee of applicability and standard performance. This is what the commoditized professional services aim to provide. Professional service providers who have commoditized their knowledge enjoy an enormous business advantage - if the product is in need and sells well. They can serve large numbers of clients. Instead of using encountered and highly competent consultants for each assignment, the consulting firm can develop standard processes for delivering normal products, and hence use more junior and less encountered staff, and cut the price.
In larger IT and management asking firms, outsourcing has become the fastest-growing area of service and an essential source of stable and long- term income. This reflects the fact that the asking firm may be better equipped to carry out certain activities, which it can perform more efficiently and economically than the client while keeping up to date with advances in the field. It also reflects new ways of doing business and coping with knowledge, in which clients focus on their core business and use intelligent capital and money in areas of their principal strength.
Commoditization of procedures and systems is currently a feature of knowledge management and transfer. It responds to demands from clientele, who want to get the best system, methodology or approach at an affordable price, within reasonable time limits, and with a guarantee of applicability and standard performance. This is what the commoditized professional services aim to provide. Professional service providers who have commoditized their knowledge enjoy an enormous business advantage - if the product is in need and sells well. They can serve large numbers of clients. Instead of using encountered and highly competent consultants for each assignment, the consulting firm can develop standard processes for delivering normal products, and hence use more junior and less encountered staff, and cut the price.
In larger IT and management asking firms, outsourcing has become the fastest-growing area of service and an essential source of stable and long- term income. This reflects the fact that the asking firm may be better equipped to carry out certain activities, which it can perform more efficiently and economically than the client while keeping up to date with advances in the field. It also reflects new ways of doing business and coping with knowledge, in which clients focus on their core business and use intelligent capital and money in areas of their principal strength.
Many large consulting firms have sought to internationalize their businesses in searching for new markets, adapting to the changes in the international economy, and enjoying the new opportunities for contacting in the developing countries. In large consulting firms, foreign operations may contribute 30-70 per cent of income. Great efforts have been made to increase the long-term benefits derived by clients from consulting assignments, by diversifying and perfecting the intervention methods applied at all stages of the consulting process. Many companies’ private and public have become experts in using consultants. They have developed their own criteria and methods for selecting consultants, collaborating with them during assignments, overseeing their interventions, learning from their approach and evaluating results. Consultants have become indispensable advisers in major business decisions and dealings.
More Information: Top Management Consulting Firms
More Information: Top Management Consulting Firms