Future of Consulting 2020 - Interview Questions

Starting Questions

1) What keeps you awake at night?

Nothing. Seem to have no worries. Wants to stick to his core values of creating an atmosphere of binding people.

2) What do you think are the key uncertainities?

How will cocreating work. Formulating together rather than leading. Young people to formulate strategies.

3) What is your dream?

The company currently has 56 employees. Expand the company with people from diverse backgrounds. Grow the company bigger not in terms of profit but higher in value stream.

4) What do you think drives the changes in consulting companies today?

Internal consulting is going to drive the future.

House of Performance related questions

1) How do you differentiate your firm from other consulting firms and clients?

Realize the strategy, increase performance and focus on achieving results.

2) What is the recent successful project and failure? What caused the differences?

Failure - A late implementation of traffic crossings project because didn't follow all the steps. Though knew everything but took 4 months instead of planned 1 month.

Success - Feels successful if employee morale is boosted by good performance.

3) How do you maintain delivery quality?

Focus on effective leadership, process control and employee behaviour.

Changes within Consulting Industry

1) Do you foresee any change in traditional organization structure of consulting firms? (Hierarchical/Flat/Hexagonal)

Doesn't see any change happening in leverage model. But thinks knowledge sharing within the firm is going to hold the key to future.

2) Do you foresee any change in pricing model? (Value based pricing as against hour based pricing)

No. Doesn't believe in value based pricing since it is money driven rather than result driven.

3) Do you foresee an emergence of Credit rating agency for consulting firms? (Similar to what we have for banking industry Moody's)

No. Rating doesn't indicate growth of a company. If employees are happy, same would be reflected in client's trust.

4) Any change in the business model with more young population?

Anticipating non traditional strategy formulation by young people

5) Do you foresee a consolidation trend in consulting industry?

No. Small and boutique firms are powerful with specific industry/problem focus.

6) What is the future of consulting? What areas? (More specifically, where do you see consulting by 2020 and what trends? In which industry do you see the most growth potential by 2020? Why?

Healthcare has huge potential. Retail, Logistics and Government projects are increasing.

7)Can it be like construction industry? One main big one stop shop developer get order and maintain all relationships with the client and outsorce specialized areas for small consulting companies who are experts in specific areas.

Maintain long term relationships with other consulting firms. Work together. Either one stop shop or source it out to other consulting firms.

ICT in consulting

Is not a firm believer of ICT having a drastic impact on consulting.

1) What is the role of ICT in the future of consulting?
2) Based on ICT changes, do you foresee any standardization happening in consulting industry?

Emerging markets

1) Development of different markets for consultancy?

Emergence of new markets in China & India. Europe will have less focus.

2) Development of big consulting companies which are non-US and non-European?

Other areas to focus - Role of universities in consulting