In order to be truly innovative, an organization not only needs employees who are natural innovators, but also needs to build an environment that is conducive to innovation. All too often, however, organizations stifle this environment in one of two ways.
As consulting faces disruption from technology and changing consumer demands, many consultant firms are searching for ways to keep pace with evolving client expectations
The first step of the consulting process is the discovery phase. Discovery involves gathering data from multiple sources before the consultants apply their expertise to solve a business problem.
Talk to anyone in the business world about measuring results, and chances are that most answers will start with the word “return”. Depending on whom you ask, the answers can range from Return on Investment (ROI), Return on Equity (ROE), Return on Capital, or for some in more leisure-driven industries, it could be Return on Life (ROL).
In 2014, it seemed as though half of the time the news was running a story on yet another cyber attack hitting a major corporation. Target was hit first, followed by J.P. Morgan and Home Depot.
Normally one would assume that as a company grows, its ability to set itself apart from the rest of the industry would grow proportionally. For the top consulting firms, however, it is a different story.
Consultants have the opportunity to create change in client’s organizations, but change doesn’t happen unless they ensure recommendations are implemented. Most consultants have faced the difficult situation in which clients don’t quite seem to agree with the suggestions brought to the table.
Sometimes it’s good to poke a little fun at ourselves. Dilbert holds a special place in the hearts of many business-people because it makes jabs at some of the things we deal with on a daily basis.
So, you’ve impressed the client with your proposal during the RFP process and received the green light for the consulting project. Now comes the difficulty of actually starting the process of gathering information, compiling data, and discovering insights which will drive value for the client.
The consulting industry is a unique in many ways. Both lucrative and fast-paced, consultants attract many MBA graduates to its competitive playing field.