EXISTING AND EMERGING TRENDS

Management

consultants help organizations improve their performance primarily through identification and analysis of existing business problems and development of plans for improvement.

Organizations

hire the services of management consultants for a number of reasons, including gaining external advice and access to the consultants' specialized expertise. consulting firms range in size from sole practitioners to big businesses.

Management

Because of their exposure to and relationships with numerous organizations, consultants are also aware of industry best practices, although the transferability of such practices from one organization to another may not be possible because of different situational factors. Consultants also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants generally bring their own, proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing business tasks.

 Management

consulting is to be found in almost every industry sector and in every major region of the world: Asia Pacific Europe/Middle East/Africa (EMEA) North America Latin America & Caribbean

 Collaboration/cooperation

and alliances to build national & regional competitiveness. Having a strong united voice to advocate for the cause of regional consultants. Continuous Personal & Professional Development General adaptation to the international code of ethics & standards.

 Globally,

management consultancy is a multibillion dollar business. Consulting & Research Services estimated that the Global Consulting Market will average 7.1 percent growth by 2010 exceeding US$350 billion. reflects the estimated size and growth of the global market, which includes consulting related to strategy, operations management, IT, HR, business advisory services, financial management & alternative energy.

Kennedy

This

conservative estimate is that the Caribbean generates about US$500M per annum. much of this is earned by Caribbean consultants is not clear. is estimated that less than 20% of the major consulting projects arising from development aid that flows into the region are awarded to Caribbean consultants.

How

It

 The

continuing impact of globalization and regulatory changes new era of Risk Management services rise of Social Networking new rules of client engagement

The The

 Few

major firms by sole practitioners or small

Dominated

businesses

Limited

to lowest share of annual consulting revenues. toward improved quality assurance

Movement

Whether boom or recession clients will always need expert advice to manage their growth or to restructure their businesses in a declining market. Technological and political forces are forcing companies in industries to structural changes. The practice of lean management in many companies sometimes creates insufficient management capacity and expertise to handle the resulting corporate change processes internally. This creates an ongoing need for consulting services.

 In

general, there is likely to be a shift from merely advising to becoming more actively involve in the implementation. consulting" is on the rise. This involves working with a company over many years to ensure continued monitoring, discussion and implementation of new ideas one of proactive instead of being reactive.

"Relationship

 The

trend toward globalization of trade and services drives consultants to regionalize and globalize as well. code of ethics and standards now become a critical necessity. aware of the latest trends in technology and economy and be able to adopt such trends a head of their clients.

international

Be

 Knowledge Innovation Reputation

and knowledge management

/ quality Networking / alliances Competitiveness on price and service offerings Effective quality control Well-developed internal processes Access to niche markets

THANK YOU