4 Forces Driving Demand in Consulting
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Posted by  in Consulting Industry

In the latest issue of Consulting magazine (January 2013),  Erick Burchfield (Managing Director, Research) of Kennedy Consulting Research & Advisory (a leading market research provider on the Management and IT consulting professions) describes 4 market forces that are driving global consulting demand.

  1. Digital Strategy & Transformation:  Many companies, especially those in the publishing, telecommunications and entertainment industries, are developing new digital business models to adapt and respond to the changing needs of the their customers. Demand for consulting services to assist in developing these new digital business models is fast-growing.
  2. “Disruptive” IT:  The cloud.  Big data.  Analytics.  Social media.  Mobile technologies.  Companies are challenged as to how best use new IT tools to gain insights into the vast amounts of data that can deliver customer insights to provide competitive advantage.  Aligning technology investment with business goals from a cost management and business intelligence perspective is an ongoing challenge for many companies.
  3. Risk Management:  Companies are moving beyond compliance and are aggressively tackling operating risk given lengthening global supply chains, volatility in raw material input costs and consumer demand, and increased awareness of the likelihood and cost of supply chain disruption.  Additionally, the rise in social media is posing risk to brand reputation.  Companies are integrating IT risk, brand reputation integrity and supply chain disruption considerations into many consulting engagements.
  4. Change Management:  Companies are increasingly undertaking “transformation” projects with a goal of fundamental business model reinvention.  These types of transformative projects are only successful when they incorporate a strong change management process (a core strength for many consulting firms).

Read the full article here.

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