Management Consulting 2.0
How Web 2.0 is Changing Management Consulting
To Create Game-Changing Strategies
Traditional Management Consultants
Work with Fortune 500 Clients
Top 10 Management Consulting Firms in 2008 by Vault.com
The Management Consultant Ethos
High Priced
Ranked #69 in Forbes’ 2007 Largest Private Companies
Revenues: $308,000 per Employee
The Management Consultant Ethos
“Ivory Tower” Research and Recommend
The Definitive MBA Profession
20% of MBA Graduates Want to Work at Consulting Firms
Harvard Business School
Strategic Issues Consultants Tackle
Diverse Experience is Prized in Consultants
Globalization IT Solutions Operations M&A Integration Note: Traditional Consulting Focuses on Organizational Structure Corporate-wide Solutions Sales & Marketing to Maximize Revenue Corporate Finance Sarbanes Oxley Compliance
But Chess Pieces are So Cliché
Management Consultants are Used to Defining Themselves
as Kings of Strategy
Problems with Consulting Today
“Ivory Tower” Approach is Inefficient
The Internet has Opened up Research that was once the Domain of Consulting Firms
Knowledge Redundancy
Consultant Teams are Sent On-Site to Learn and Analyze the Business
Learning Curve Costs
Consulting Still not in Real Time
“Research and Recommend” is not Interactive
“We spent four months developing this solution for your company”
Web 2.0 Changes Consulting
The Internet Creates a Real Time Consulting Paradigm
Here are the Four New Rules of Consulting 2.0
1. Leverage Existing Knowledge
The Internet Facilitates Business Intelligence
Consulting 1.0 Produced Polished 200-page Reports to Justify Fees
Pre-Internet, Consultants were Charged with Intelligence Discovery
1. Leverage Existing Knowledge
Consulting 2.0 does not Regurgitate Intelligence Found on the Internet
Consultants Should Add Value to Management Domain Knowledge
Don’t Reinvent the Wheel
How Consultants Add Value to Intelligence
Leverage the Social Media
Seek Feedback on New Product Development Create Buzz Marketing to Beat the Competition
and Blogs
2. Interactive Engagement
The Internet is an Organic Test Lab
Consultants don’t Need to Hole Up in their Ivory Tower
2. Interactive Engagement
Collaborate with Management in Real Time
Leverage the Social Media to Beta Test and Ask for Solutions
3. Be Open to the Discovery Process
The Social Media Spawns Epiphanies
Real Time Conversations of Ideas
Apply Zen
Can Move the Original Plan in an Entirely New Direction
4. Level the Consultant Client Relationship
Don’t Dictate
Collaborate
4. Level the Consultant Client Relationship
Management and Consultant Must Resolve to Execute Iteratively
So Consulting doesn’t become a Navel Gazing Exercise
Why Work with Consultant 2.0?
Certain Industries are Becoming Reliant on Internet Marketing Real Estate Technology Media and Publishing Retail Consumer Goods Financial Services Advertising
Industries that Must Reach the Consumer Online Often Don’t have Bandwidth or Resources to Understand Web 2.0
Why Work with Consultant 2.0?
Consultant 2.0 Adds Value in Context with Web 2.0
Innovative Viral Marketing
Strategic Partnering
Product Development Social Media Strategy Business Modeling
Management Consultant 2.0 Profile
Social Media Presence
Online Authority is Requisite to Mobilize Social Media as Intelligence Tool
Management Consultant 2.0 Profile
Proven, Diverse Management Experience
MBAs have Value
Senior Management Background Management Consulting Note: Consulting 2.0 Startup Mentality Focuses on Immediate, Sales & Marketing Executable Solutions Product Management Corporate Finance Legal Expertise
Consulting 2.0 - the New Paradigm
Making Innovative Strategies Accessible to All Companies Efficiently and Economically 1. Leverages Existing Management Knowledge 2. Develops an Interactive Engagement 3. Values Discovery in the Consulting Process 4. Collaborative, not Dictatorial
Contact
Kevin Boer 650.387.2860 kevin@DomusConsultingGroup.com
Patrick Kitano 415.320.2844 pat@DomusConsultingGroup.com
Image Attributions
Chess pieces John Houseman Harvard Business School Stack of reports Slide 10 Slide 11 Slide 13 People icons Ivory Tower Donald Trump Slide 18 - Collaborate Running business people