Difference between revisions of "Future of Consulting 2020"

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Kiho Lee <br>  
Kiho Lee <br>  
Conor Ruff <br>  
Conor Ruff <br>  
Lidia Sholkova  
Lidia Sholkova <br>
= Background =


== Background ==
Problem owner: Joost Preyde (IT):<br>
 
Quote: "All progress depends on the unreasonable man. <br>


Joost Preyde (IT):<br>
quote: "All progress depends on the unreasonable man. <br>
Education:<br>
Education:<br>
1981-1985 Flight Engineering; 1985-1987 MBA<br>
1981-1985 Flight Engineering <br>
 
1985-1987 MBA <br>
; ;
 
Reading book now: Mojo: How to Get It, How to Keep It, How to Get It Back if You Lose It (so we can talk/ask him the most strange questions)
Work:<br>
 
<br>
<br>
<br>
Reading book now: Mojo: How to Get It, How to Keep It, How to Get It Back if You Lose It
==Focal Issue==
How will Consulting industry evolve in next 10 years?
 
= Interview Questions =
 
[[Future of Consulting 2020 - Interview Questions & Answers]]
 
= Driving Forces =
 
==Economic Driving Forces==
*[[Global Economic Growth]]  (IT) <br>
*[[Complex Business Environment]] (PD)  <br>
*[[The Role of the Internal Consultant]] (CR) <br>
 
==Societal Driving Forces==
*[[Innovation]] (KL) <br>
*[[Rising need to co-create]] (PD) <br>
*[[Rising Intellectual Power of Emerging Markets]] (LS) <br>
 
==Technological Driving Forces==
*[[Development of ICT, web 2.0]] (IT) <br>
*[[Globalization of companies]] (KL) <br>
*[[Openness of Information]] (CR) <br>
*[[Automation of processes]] (LS) <br>
 
= Research Questions =
 
[[Future of Consulting 2020 - Research Questions]]


=Scenarios=


==Systems Diagram==


Also: check out David Maister: http://davidmaister.com/articles/24/ for deep perspective on the consulting world.
[[Future of Consulting 2020 First Draft]]


history of consulting: http://www.careers-in-business.com/consulting/hist.htm
[[Future of consulting 2020 - Final Diagram]]


== Interview Questions ==
== Short Scenarios Description ==


'''Starting Questions''' <br>
'''Tradition Remains'''<br>
''Current consulting model remains the same''<br>


1) What keeps you awake at night? <br>
-Fear and validation remain an underlying motivation for hiring consultants<br>
2) What do you think are the key uncertainities? <br>
-Relationships and trust continue to drive the consultancy model<br>
3) What is your dream? <br>
-Consultant-client relationship shifts to co-creation for innovation<br>
4) What do you think drives the changes in consulting companies today? <br>


'''House of Performance related questions''' <br>
'''Inside Out Innovation'''<br>
''Innovation from within organizations''<br>


1) How do you differentiate your firm from other consulting firms and clients? <br>
- Creation of center of excellence + innovation center <br>
2) What is the recent successful project and failure? What caused the differences? <br>
- Growing cycle dimishes external consulting <br>
3) How do you maintain delivery quality? <br>
- Attracting top talent to the organizations <br>


'''Changes within Consulting Industry''' <br>
'''Collective Good Consulting'''<br>
''Open source & free consulting'' <br>


1) Do you foresee any change in traditional organization structure of consulting firms? (Hierarchical/Flat/Hexagonal) <br>
- All information in public domain <br>
2) Do you foresee any change in pricing model? (Value based pricing as against hour based pricing) <br>
- On-line collaboration based on non-fee <br>
3) Do you foresee an emergence of Credit rating agency for consulting firms? (Similar to what we have for banking industry Moody's) <br>
- Reward through "virtual currency" - promotes free knowledge base <br>
4) Any change in the business model with more young population? <br>
5) Do you foresee a consolidation trend in consulting industry? <br>
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? <br>
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. <br>
8) What is the future of outsourcing for consulting companies, if any? <br>


'''ICT in consulting''' <br>
'''A Leap Ahead'''<br>
''Move towards e-consulting & automation'' <br>


1) What is the role of ICT in the future of consulting? <br>
- Commoditization of specific consulting services <br>
2) Based on ICT changes, do you foresee any standardization happening in consulting industry? <br>
- Advancement of ICT and growth of emerging markets <br>
- Replacement of consulting services by machines <br>


'''Emerging markets''' <br>
==  Future of Consulting Scenario Tree ==
[[Future of Consulting Scenario Tree]]


1) Development of different markets for consultancy? <br>
== Timelines ==
2) Development of big consulting companies which are non-US and non-European?


== Driving Forces ==
[[Tradition Remains Timeline]] <br>


driving forces
[[Inside out Innovation Timeline]]<br>


1. Global Economic Growth (IT)  <br>
[[Collective Good Consulting Timeline]] <br>
    consulting is usually additional service for companies. During times of financial crisis companies trying to find money for salaries and operations, so consulting is postponed or even rejected by many companies. However, during the economic growth, companies have money which they can spend to consulting. Paradox, but it is what it is. <br>


2. Development of ICT, web 2.0 (IT) <br>
[[A Leap Forward Timeline]] <br>
    more and more companies and people integrate, live in web and use ICT. Future development of ICT will have tremendous influence onto reality and world perception.


3. Demographics (LS)
== Scenario Stories ==
implication of new younger generation with different needs, older retiring partners, changing demographics globally


4. Globalization (KL)  <br>
[[Traditions Remains]]<br>
    As more companies expand globally their consulting partners also expland their territories. <br>


5. Environment (KL)  <br>
[[Inside Out Innovation]] <br>
    Corporate Social Responsibilities become more and more important. This will be one of big new service offerings of consuting industries <br>


== Numbers that matter ==
[[Collective Good Consulting]]<br>


Numbers that matter in Consulting - global statistics for consulting industry:
[[A Leap Ahead]]<br>


http://www.plunkettresearch.com/Industries/Consulting/ConsultingStatistics/tabid/177/Default.aspx  (LS)
= Presentation feedback =


Global Consulting Industry Revenue (including HR, IT, strategy, operations management & business advisory services) equals 345 Billion US Dollars. (LS)<br>
Like that you ask the audience questions <br>
Management Consulting is by far the largest segment with $142.7B in 2008 (CR)<br>
Like the small vignettes that you used to demonstrate the scenarios ( not sure I know the scenarios) <br>
Like the causal diagram to explain what you were doing <br>
(see how a scenario works, in terms of showing a new world- when Joost said "O my God") <br>
Like the CFO/CEO discussion nice shift <br>
Good to conclude with outline <br>
Perhaps there is another standard scenario in the "normal" consulting space <br>
2nd scenario question should be framed also in terms of the technical challenges to realize this system <br>
Joost was discussing some interesting strategic responses to the challenges that the scenarios raise <br>


-What is the fastest growing segment of consulting? IT? We should be able to find this out with numbers (CR)<br>
= Main Learning Points =
- Investigating Fundamental Business Model of Consulting <br>
- General Trends of No Value, i.e. tracing the root of the symptom <br>
- Move away from obvious Assumptions <br>


= Useful Resources =


Conor has idea on decreasing of US defense expense and put this money to feed the whole planet (IT)<br>
Fiona Czerniawska and others on future of consulting:


== Research Questions ==
http://davidmaister.com/articles/24/ - David Maister - a deep perspective on the consulting world<br>
http://www.careers-in-business.com/consulting/hist.htm - History of consulting <br>
http://www.managementconsultingnews.com/- Features ideas and tools from leading thinkers, consultants, writers, and marketers<br>
http://www.scottberkun.com/blog/2008/thoughts-on-googles-20-time/ - A look at internal innovation programmes <br>
http://www.youtube.com/watch?v=soYKFWqVVzg - Interesting speech by Marissa Mayer about Google's innovation<br>
http://enrd.ec.europa.eu/app_templates/filedownload.cfm?id=B7288CC2-AAAF-2E2A-742A-040F3A77A56B Pros and cons of internal and external consultants<br>
http://www.time.com/time/business/article/0,8599,1917002,00.html Time article about the history of wikipedia<br>
http://www.zdnet.com/news/open-source-ibms-deadly-weapon/296366 Open source: IBM's deadly weapon<br>
http://www.internetnews.com/dev-news/article.php/3499276 IBM: Open Source is More Than Just Linux<br>
http://www.javaworld.com/community/node/3104 interesting article about starting a business with open source <br>


1) What role does collectivism play in a consulting firm? <br>
= Numbers that Matter Presentation =
2) What role does collectivism play in a consulting project? <br>
[[Deforestation vs adult&drug tax]]
3) What is the scope of Inhouse/Internal consulting? <br>
4) Why there is a need for Inhouse/Internal consulting? <br>
5) What is a typical value stream in consulting industry? <br>
6) What are the various consultancy models? <br>
7) What are the various pricing models employed by consulting firms? <br>
8) What does knowledge sharing imply in a non-hierarchical organization? <br>
9) What is the role of emotional intellingence in consulting? <br>
10) What role will young generation play in strategy formulation? <br>
11) What is the average duration client engagement for top consulting firms? <br>
12) How consolidation of firms impact consulting industry? <br>
13) What role does boutique consulting firms play? <br>
14) Where does talent pool for consulting firms come from? <br>
15) What are the new potential regions of growth for consulting business to strive? <br>
16) How rapidly/slowly are non-US or non-European consulting global firms growing? <br>
17) What is the percentage of referral client for a typical consulting firm? <br>
18) What role does sales and marketing play for consulting firms? <br>
19) What are the drivers for growth in government and healthcare consulting? <br>
20) What role does Universities play for consulting firms? <br>

Latest revision as of 09:42, 9 September 2010

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