Trend Oracle: Value Based Consulting©

My job as at the time of this publication is with Deloitte; the number one professional service firm in the world with over 200,000 professionals in its workforce. My first job post NYSC was as an Associate Consultant in a leading indigenous firm with operations extending beyond the shores of Nigeria. I have been receiving newsletters from Accenture since my final year in high school. With this background, you won't be wrong to think that I have a few things to share about this industry. I must assert that being a Consultant is more like a calling to me.  The role of the Consultant is as nebulous as the concept itself but its more often than not about applying intellectual (sometimes proprietary) methods and tools to proffer solutions. I like to think of my job like that of a Medical Doctor with the difference being that I don't deal with the anatomy or physiology of homo sapiens. My patients are businesses and although I may not be sworn to an Hippocratic oath, I love what I do.

The Lords of Consulting

No name dropping intended but it is important for the purpose of this writing to re-visit the history of consulting and its evolution. I am not particularly an historian nor do I claim to have all the facts about the historical development of the profession. For a very revealing and robust account, I will recommend the work of Walter Kiechel III who authored the Lords of Strategy. This book is without doubt a compendium of insights. For sure a work to be relished by those who are curious about the strategy revolution and the beautiful stories of the most noble profession; management consulting. Apologies to my learned colleagues in gowns and wigs. Peter Drucker; the father of modern management probably has the bragging right for being the earliest specie of business doctors. Frederick Winslow Taylor; the father of scientific management is on the roaster of the greats. The principals of Boston Consulting Group (BCG); Bruce Henderson and Bill Bain who later founded Bain & Company. It will be tantamount to persona non granta not to identify with Mckinsey & Company whose contribution to the field of management consulting cannot go unmentioned. The firm as it is called is worthy of adulation. In the Academia, there are numerous names to mention depending on the domain area. Micheal Porter's name rings bell for those who are not brain dead to the romance of strategy thinking and competitive advantage within the context of industry analysis and and early field of Organisation Intelligence.

The enemy called disruption

I am enthused by the theory of disruption as made popular by Professor Clayton Christensen of the Harvard Business School who himself is a Consultant to many businesses. He founded Rose Park Advisors. Professor Clayton is the number one thought leader for two consecutive years gracing the Top 50 Thinkers. Through the lens of disruption, we understand that it is possible for a seemingly nimble entity (an underdog) to displace the market leader. Now, there are conditions that must congregate for such to happen. There are indeed a handful of cases of disruption. US Steel declared bankruptcy after an extended period of severe competition with the smaller steel mills like Nucor. Netflix offered itself to be bought by Blockbuster but the latter refused but declared bankruptcy in less than five years. In most cases of disruption, it often appears that the market leader commits suicide. It has been said by the same man (Clayton) that traditional model of education especially higher education will be disrupted by Massive Online Open Courses (MOOCs). This threat is as real as the threat(s) confronting us in the Management Consulting space. Indeed, many are unaware of the most singular threat on the block; Internet. With the commoditization of information, the dynamics have changed. The days when people got bamboozled with the highfalutin grammar of a Consultant and his purported arsenal of tools are long gone.

The horse and the drink

You cannot force a horse to drink even if you force it to the river. There is no contesting this altruism. It goes without saying that the responsibility of eventually making things happen will rest with the management of an organisation. The combination of the willingness and commitment are key to be able to transform vision to reality. There will always be debates on the expectation gap between what the role of the consultant is and should be but one thing is sure and that is the fact that into a foreseeable future, there will be a significant difference between those who stand for something more than collecting professional fees. Will the company be willing to walk away from an opportunity that falls short of its ethos?

Value based consulting

No more face lifts. Down to make-ups. Screw business as usual. In the new era that is upon us, it is no longer about highfalutin recommendations, binded copies of gap, design and implementation road maps. The deliverables have changed. The Key Performance Indicators (KPIs) have taken a new form. The metrics have undergone a total re-orientation. It is now about real value to the bottom line. In this era of conscious capitalism and democratization of information, if you cannot together with the client deliver tangible value, irrespective of your robust knowledge management system and methods, there will be no place for you. Value Based Consulting (VBS) speaks to a paradigm shift in the way consulting is done. 

Jungle has matured

Knowledge is no longer a competitive edge. The jungle has matured. No more shenanigans. Its either you know the difference or not. Wisdom is now the hallmark of the consulting trade.The consulting company of the immediate future is one that is capable of adding value towards the achievement of objectives. Need I say that this future is no longer a distant prospect?

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