Strategy consulting

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Are strategy consulting firms delievring enough value to their clients or are they outdated in their approach? Are they doing enough to adapt to new models?

Falguni Desai
80 months ago

5 answers

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You have your legacy large, well-known, strategy consulting firms that traditionally draw a line at executing the strategy. While those firms generally do great work, it can be a challenge for the client to move to the execution phase - for some of the reasons mentioned above, such as commitment, and also they typically don't have the skill set in-house. I was at a big 4 consultancy and we bought a well-known strategy firm to pursue a "strategy through execution" differentiator. Others are doing that and some of the legacy strategy firms are trying to move more into execution. At my current firm we focus on strategy and execution and then client self-reliance - i.e., trying to get the client to be able go forward without us. Others are promoting the same approach. IMO, strategy without a viable execution plan is often just an empty promise, and the "execution plans" provided in a lot of strategy deliverables are not sufficient.

John P.W. Brown
80 months ago
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I don't know if they are really outdated in their approach. Clearly the expectations are much higher to get to something that is truly actionable that will drive meaningful results for your business. It seems to me that this needs to be addressed during the negotiations around scope and expected deliverables. So it is up to you to be as clear as possible about what you are seeking to achieve rather than leaning so heavily on them to define it for you. They are professionals, indeed. But they are also seeking to minimize their risk. This has to be an equal exchange of value. I think this leads to new ways of delivering in order to make the deliverables more tangible and something that translates to meaningful and acheivable action plans.

Brian Rensing, JD, MBA
80 months ago
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It is not as simple as selecting the right company. Having worked in this space, the biggest challenge is getting the full committment of the client company to openly share information, clearly articulate their objectives without any personal agenda, and openly accept and act on the recommendations.
It is also important to have the right people there to help you. It is not uncomman for a really great stretegy consultant to jump to other companies. Often times their previous customers go with them and they are well incentivised to change teams. Focus on hiring the right people to help you, vet their specific skills and experience and do not decide on a firm based on their name or popularity.

Jon Newsome
80 months ago
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A lack of execution tied to strategy was part of the reason I left my last corporate job (as an in-house strategy manager) and launched my own consulting practice last summer. I found that a combination of ineffective decision making and prioritization, lack of good leadership and an unsupportive corporate culture made it very difficult for strategy that was tied to operational goals and even execution on the inorganic side of the business. In my current consulting model, I'm working with much smaller companies (mostly start-ups) in helping with their commercial strategy and GTM approach. My approach is very much of a partnership model in which I work with them over a longer period of time to ensure execution is tied to strategic priorities, including some design thinking elements and various performance metrics and measures. I'd love to hear from other independent consultants who have implemented a similar model and had success.

Neeta Kirpalani
73 months ago
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I notice more and more of the large players either buy or cooperate with smaller firms, boutique firms if you will. Rationale definitely seems to be that these smaller firms are more nimble and creative versus the slow moving wheels at larger corporates.

So to your questions: are they doing enough? I think they recognize that the answer does not lie within their own company restrictions. Then buying that capability is the faster & surer option.

Bart Groenewoud
73 months ago
I agree with that. Buying an execution firm (or the reverse at the big 4 I was part of) is definitely viewed as a good option to bridge the strategy through execution gap. - John P.W. 73 months ago

Have some input?