INvencia Capital Advisory Pvt. Ltd., through its consulting arm INvencia Management Consulting Pvt. Ltd., has recently entered into a exclusive partnership with U.S.-based Chaotics, LLC, the company founded to lead the worldwide establishment of the breakthrough management and marketing strategies platform from the just published best-selling book by co-authors Professor Philip Kotler and Dr. John A. Caslione, Chaotics: The Business of Managing and Marketing In The Age of Turbulence (AMACOM 2009). INvencia Management Consulting Pty. Ltd. has been chosen by Chaotics, LLC to be its exclusive Chaotics Consulting Platform Partner in India.
Mr. Jaydip Sinha, Vice-President and Co-Founder of INvencia has outlined below the Present Circumstances and Problems within the Indian Management Consulting Framework.
* The Service Sector in India has been growing at a fast pace and now contributes more than 50% to the GDP.
* Recognition and Acknowledgement of competence of INDIAN Consulting Firms by US, UK, Japan, EU, China and Gulf Nations.
* Largest concentration of Management Consultancy organizations is in India’s four major metropolitan cities: 1. Delhi (25.7%) has the highest number of Management Consultancy organizations among four metropolitan cities followed by, 2. Mumbai (25.5%), 3. Chennai (12.1%) and 4. Calcutta (9.1%).
* There are well dispersed and wide ranging areas of Specialization to service diverse range of clientele needs backed by advanced technical talents/skills at reasonable cost.
* Y-O-Y as Indian Industry started maturing; the Indian Management Consulting Industry also started expanding, not only in terms of size but also in terms of service offerings. Over the period specialist and sector specific advice was being sought by clients in India and this opened the opportunity for a number of specialist organisations to draw on their specialist knowledge base and resources to meet demand for specialist consulting services.
* The major strengths of Indian Management Consulting organisations include professional competence, low cost structure, diverse capabilities, high adaptability and quick learning capability. The major weaknesses of Indian Management Consulting organisations, which have hindered the export growth of consulting sector in the country, are low quality assurance, low local presence overseas, low equity base, lack of market intelligence, and low level of R&D.
* One of the Main Challenges in Indian Management Consulting firms is acquiring the right set of talents. Today these firms are more interested to acquire multifaceted and mixed pool of talent rather than sector specific specialised individuals.
* Increasing Rate of Attrition affecting Organisational Growth.
* The Indian Management Consulting Market is more or less a buyers market. More than convincing the companies to sign up proposals, factors such as cost-benefit ratios, value added services and so on play a pivotal role because of homogeneity in services.
* A noticeable trend in the recent years is that the smaller and niche firms are gradually taken seriously than the bigger ones. Of late, companies have started experimenting with niche firms by working with them on smaller regional projects but at the same time partner with the trusted bigger ones for the larger and other global projects.
* Management Consulting Companies worldwide face volatile market conditions, and it is those firms with differentiation capabilities that perform better.
* Threat of Substitutes also impacts new business development in Management Consulting Practices in India. Existence of numerous firms, new offerings overnight and reduced pricings impacts the market by hampering customer loyalty and thereby making this market a little price sensitive one.
* Though the big management consulting firms command a sizeable chunk of the market, still they have failed to capture the Mid-Market and Small Medium Enterprise Market due to low awareness, failure to reach and understand local mindset and inability to provide industry specific package driven content and solutions.
Mr. Sinha also rightly points out the problem and the ways for deriving a solution:
Wherein maximum solutions from the vast majority of Management Consulting companies have become common and homogenous and increasingly ineffectual due to the growing turbulent and uncertain economic and business environments, and exacerbated further by intense price-reductions, less innovation, less investment in R&D for platform upgrades, a wide chunk of the Companies and the Community are becoming impatient as they await to see differentiated platforms and practices employing timely and effective strategies, which they can execute in these turbulent, higher risk and uncertain times. Moreover, an increasing number of Companies and the Community are seeking to achieve success by strategic use of all the available and new, best breakthrough business platforms and practices to help business become more responsive, robust and resilient during what is now being referred to as ‘The Age of Turbulence’.
This is where Mr. Sinha thinks that Chaotics (www.chaoticsstrategies.com) will become the unique differentiated form of Consulting Platform of all the companies in this era of Risk, Uncertainty and Turbulence.
For more information, please go to: http://www.chaoticsstrategies.com/ and www.invencia.in.
No comments:
Post a Comment