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Management Consultancy Comes of Age: 2012 How Global Trends Affect You Presented by Dennis Strong CMC [email protected] m
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Presented by Dennis Strong CMC [email protected]
Management Consultancy Comes of Age:
2012
How Global Trends Affect You
Presented by Dennis Strong CMC [email protected]
Who is a management consultant?
Converging forces at play in the Caribbean
Standards, accreditation, certification
Technical expert vs. management consultant
Self-assessment: how ready are you?
Continuous professional development strategy
Agenda
Management consultants are those who provide services that involve:” a set of multidisciplinary activities of intellectual work, within the field of management activities, which aim to create value or promote changes, by providing advice or solutions, by taking actions or producing deliverables.”
(FprEN 16114:2011) European Standard
What is a Management Consultant ?
Presented by Dennis Strong CMC [email protected]
• Has a ripple effect in all aspects of any economy
• Estimated that 1 person per 1000 population in developed nations and 1 person per 2000 in developing nations is a consultant
• Estimated global market of $1,000,000,000,000 (one trillion) annually
The Scope of Management Consultancy
Presented by Dennis Strong CMC [email protected]
Firm Specialty Employs Offices Annual Revenues
IBM Global
Mgmt & tech
190,000 300 – 52 countries
US$48.3 billion
Accenture IT, Mgmt. Outsource
178,000 110 – 49 countries
US$ 19.9 billion
Capgemini
IT, Consult,Outsource
80,000 36 countries
US$ 12 billion
Deloitte Audit, Tax, Advisory
16,500 150 countries
US$ 23.1 billion
Booz Allen Hamilton
Mgmt & Strategy
18,400 100 – 6 continents
US$ 4 billion
Bearing Point
Mgmt & Technology
17,000 170 – 60 countries
US$ 3.4 billion
Mercer HR HR strategy
16,500 150 – 42 countries
US$ 2.7 billion
Global Consulting Revenues(2007 Vault survey, Wikipedia)
Presented by Dennis Strong CMC [email protected]
92.5% of consulting fees in the region go to
“foreign” consultants
Fee structures accord “international”
consultants higher rates than local consultants
Eligibility to bid on and lead large “IFI” projects
is confined to international consultants
They Are Eating Our Lunch
Presented by Dennis Strong CMC [email protected]
CEN: Defines MC for 1st timeAligned globally with ISO, ILO, IAFEPA: contains provisions for mutual
recognitionOpens the door to new marketsCARICOM/CARIFORUM: will require
registration and licensing to practiceCICMC: prepares regional MCs to meet
global standards and requirements
Implications of trends
Presented by Dennis Strong CMC [email protected]
Guidelines for effective delivery of management consultancy services
Applies to all MCSPs: public and private companies, government entities, NFP orgs and internal consultancy units regardless of their ownership, structure, size or specialism.
Applies to any type of assignment for any type of client. It does not place any obligation on the client.
European Standard for Management Consultancy Services (CEN)
Presented by Dennis Strong CMC [email protected]
In EPA, emphasis moved for first time to developing the capacity to export high-end services – a perfect proposition for management consultancy
Caribbean policy-makers, practitioners and public only now recognize that management consultancy represents very substantial global and regional market
Need to promote regional integration, economic cooperation and good governance
Competent regional management consultants are a necessary component to transforming the region’s model for economic development – export vs import
Maximize EPA components re capacity building – where MC adds significant value
EPA and Management Consultancy (MC) …
Presented by Dennis Strong CMC [email protected]
CICMC/CE commissioned 1st Caribbean MC study in 2009 Objective: provide information on industry, identify
strategic framework for development , establish database Coverage: 7 Countries - Bahamas, Barbados, DR,
Jamaica, Martinique, St Lucia, Trinidad & Tobago, Survey: Firms (supply) 115, Market (demand) 100 Key Findings:
◦ Spend distributed in 2-tiered market with weak middle◦ Industry dominated by small firms with varying expertise◦ >90% fees go to extra-regional consultants◦ Consulting demand is varied and broad in terms of practice areas◦ Repeat work and referrals are key procurement channels◦ Profitability still a major issue for majority of industry practitioners
Management Consulting (MC) Industry Regionally
Presented by Dennis Strong CMC [email protected]
Productivity critical indicator of profitability Productivity benchmarks: 2xsalary min, 3x good, 4x very
profitable 2 groups exist: 1-new/struggling firms, 2-mature firms
Management Consulting Industry Profile Source: CEDA/CICMC market study
Revenue in 1- 4 Employee Group (Average of 1.45 professional staff)
Revenue Bracket% in Revenue
Bracket MidpointRevenue per
Employee$10,000 - $19,999 30% $15,000 $10,323
$20,000 - $49,999 26% $35,000 $24,086
$50,000 - $99,999 26% $75,000 $51,613
$100,000 - $249,999 13% $175,000 $120,430
$250,000 - $499,999 5% $375,000 $258,065
$500,000 or more 0% - -
Presented by Dennis Strong CMC [email protected]
Figure 5: Importance of Factors in Consultant Selection
Presented by Dennis Strong CMC [email protected]
Internationally recognised mark of excellence in management consultancy
Unique, worldwide, international benchmark and competence standard for individual management consultants
Ensures certified management consultants serve clients with high level competence & professionalism
Portable internationally recognized professional qualification
Lasting formal recognition of training, development and experience
Mandates discipline of continued professional development
Certified Management Consultant (CMC) Designation
Presented by Dennis Strong CMC [email protected]
CICMC – A Regional Institute
Countries with CICMC members
Countries also in CICMC territory
Bermuda
Presented by Dennis Strong CMC [email protected]
Presented by Dennis Strong CMC [email protected]
Presented by Dennis Strong CMC [email protected]
4
Clusters4
Clusters
12 Sections12 Sections
36 Dimensions36 Dimensions
108 Facets108 Facets
Adapting Approaches
Delivering Results
Influencing People
Evaluating Problems
Investigating Issues
Creating Innovation
Building Relationships
Communicating Information
Providing Leadership
Processing Details
Structuring Tasks
Driving Success
Showing Resilience
Adjusting to Change
Giving Support
Saville Consulting Wave® Competency Model Solving Problems
Globally recognized standards Accreditation and training to achieve the standards Certification to confirm the appropriate application
of competencies Enforceable accountability to protect users Periodic renewal of certification
ALL of these are provided by ICMCI and the CMC !
Requirements for competitiveness and Mutual Recognition
Presented by Dennis Strong CMC [email protected]
