Michael Roch Chief Commercial Officer, Alliance Board
Michael Roch is the Extended Enterprise and Professional Services Advisor at Internal Consulting Group. ICG is an ecosystem of more than 4,500 consultants worldwide. He also serves as Managing Director of allianceboard and as a Partnerships Advisor for Performance Leader. Michael advises on all aspects of domestic and international strategy, organizational structure and governance, and international mergers and alliances. He also advises law firms and other professional partnerships on all aspects of their partnership organization, in particular partner remuneration and profit sharing. Michael’s clients include boards, joint ventures, and strategic alliances, primarily in the professional services, financial services, energy, and technology sectors, across more than 40 countries in Europe, North America, sub-Saharan Africa, and Asia. He is a member of the Academy of Management, the Association of Strategic Alliance Practitioners, and the Managing Partners Forum in London. Qualified as a certified public accountant and New York attorney, Michael holds a J.D. and a Master of Accountancy from the University of Denver. He started his consulting career with KPMG in the U.S., followed by 10 years as an international corporate lawyer, most recently with Norton Rose Fulbright between London and Frankfurt, before returning to the management consulting profession. Michael is fluent in English and German
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“Who cannot give good counsel? ’T is cheap, it costs them nothing.” (Robert Burton, Anatomy of Melancholy, 1621)
Law firm leaders
get input, information, ideas, suggestions, and advice from myriad external
sources, including conferences, universities, colleagues of managing partner,
information distribution lists — and the list goes on. Internally, the leaders
of the most successful firms often have good systems in place, good people to
run them, and good partners who provide constructive input regarding how the
business should best be run.
With all of this knowledge, expertise, and experience around, why would you wish to engage with management consultants? It’s a fair question, given the amount of scrutiny (and sometimes worse) you may expect from colleagues anytime you suggest that your law firm may need assistance from the outside. This chapter addresses:
1) Why law firms
hire consulting firms or consultants in the first place;
2) Subject
matter areas for consulting that add value;
3) What to
expect from each of the three broad approaches to consulting;
4) What a
typical consulting process looks like; and
5) How to hire a consulting firm or consultant (and how not to).
1) Why Law Firms Hire Consulting Firms
Even the largest firms with significant internal resources in finance, human resources, marketing, business development, knowledge management, and operational management eventually end up with opportunities or challenges that neither their usual external informal networks nor the internal management team can solve. These issues usually have one or more of the following attributes:
The topic is too big: The expertise within the management firm simply isn’t broad or deep enough to resolve the topic. For example, the management team knows that knowledge management is an ineffective way to drive down costs, and the practice heads and management team have done all they can do within their level of expertise. Consulting firms that are subject matter experts in a given area can fill in the missing expertise.
The topic is too politically sensitive: The expertise may or may not exist within the firm, but too many of the partners involved in developing a solution either can’t sufficiently separate their own interests from those of the firm or will be perceived by their other partners as having an axe to grind. For instance, changes to how partners are remunerated or how their performance is measured and assessed often falls into this category. This requires consulting firms that not only have the subject matter expertise, but are also experts in stakeholder management and process design. This leads to designing partner involvement interventions that achieve a resolution passing the required voting threshold.
The topic is too important to handle in-house: The expertise may exist, and the topic may not be all that controversial, but the risk of getting it wrong is so great that external validation helps weld partners to a decision that they will comfortably implement. For example, a firm has been approached by a larger firm that seems like the ideal merger partner, the financials look good — but there is lingering doubt about whether the combined platform really will increase profits or whether the partners of both firms really are as culturally — behaviorally — compatible as the initial meetings and cocktails suggest.
There are too many topics: The management team knows there are many facets to a single challenge or too many opportunities to pursue. For example, the firm has experienced sliding margins for the last five years, its market is contracting, and prices (rates and structure) are under increasing pressure. Do we have a profile problem, a business development problem, a pricing problem, a problem with our culture that our partners don’t sell enough, a cost problem, a people problem, a partner underperformance problem, some of the above, or all of the above? This scenario requires less of a deep subject matter expert, but rather a business consulting team that understands how law firms work, with an analysis methodology that achieves a hard diagnosis, and helps management break down and prioritize the challenge.
Management capacity is too limited: Sometimes the challenge and the path to resolving that challenge are both clear, but the firm simply doesn’t have a sufficient number of bodies to carry out the actions required. Depending on the nature of the challenge, a consulting firm can serve as a stopgap by seconding one or more consultants to turn the situation around and to then hire someone to be employed by the firm.
2) Subject Matter Areas to Add Value
There is no consulting
firm capable of advising on every business challenge or opportunity. The
subject areas are endless, from blue-sky thinking about a possible new practice
to enter to working hands-on on the day-to-day implementation of a new robotics
process.
The following broad categories provide a small cross-section of the spectrum
Strategy: This is ably covered elsewhere in this e-book. Topics might include:
– Where to
compete and how;
– Finding growth
markets and coping with declining markets;
– Entering new
practice areas or getting out of unprofitable ones;
– Geographic
strategy (cities, regions, and countries) — getting in, working profitably, or
getting out;
– Innovating how
work is done and progressing the firm’s operating model;
– Developing the
firm’s strategic intent and business model;
– Implementing
strategies to reach that intent; and
– Designing an M&A strategy, and deciding whether to merge.
Relational capital: This includes everything that is market-facing, such as:
– Increasing
business development returns;
– Managing key
client relationships;
– Developing
referral sources;
– Brand building
and profile raising; and
– External communications.
Service platform: This area covers everything having to do with service delivery, such as:
– Developing and
growing the firm’s portfolio of services;
– Pricing,
alternative fee arrangements, and pricing management;
– Delivery
processes such as legal project management and process mapping;
– Knowledge,
intellectual property, and innovation development;
– Intelligent
process automation / robotics; and
– Sourcing, flexible working, and outsourcing of legal work.
Human capital: This area covers a number of topics related to talent (after all, law firms are, first and foremost, people businesses), such as:
– Winning the
war on talent;
– Recruiting the
best partners, business managers, and fee earners;
– Leadership
development and assessments;
– Diversity
development;
– Learning,
professional development, and training;
– Talent
management and human resources; and
– Internal communications.
Organization: This covers everything around the organization that supports the firm’s client work and includes:
– Organizational
design and structure;
–
Decision-making, accountabilities, and overall governance;
– Incentives and
remuneration of partners and senior managers;
– Partnership
structure;
– Culture,
values, and behaviors;
– Management
system; and
– Succession planning.
Operations, finance, and risk: These cover all of the back-office functions, such as:
– Information
technology;
– Facilities
management;
– Risk
management;
– Financial
management;
–
Administration; and
– Sourcing and outsourcing of non-core business functions.
The above can
serve merely as examples of consulting areas. Each area will have hot topics,
trends, and themes and will differ somewhat from country to country. For
example, a country with a closed legal market that is opening up to
international firms will see a flurry of market entry, strategic, and merger
advice; in countries with mixed ethnicities, law firms seek consulting in
relation to talent, diversity, social mobility, and economic empowerment.
No matter what the subject matter area, there often are more subtle topics to be addressed, such as:
–Collecting fact
bases and evidence to support recommendations. Through research and market
knowledge this may extend to peer group comparisons, sector analysis, client
and market opinion gathering, etc.;
– Identifying
the options that are realistically available, the consequences of taking such
courses, promoting the preferred option, and offering clear rationale for such
preference;
– Focusing the
minds of partners and other stakeholders on the things that are important and
relevant;
– Leading an
intellectual journey designed to reconcile (if possible) disparate views and/or
preferences and/or prejudices into a common or substantial majority
understanding;
– Identifying
blockages (whether in systems, organization, or culture) that stop firms being
able to change or improve themselves, and showing what must be done to make it
happen. Paying for consultancy is wasteful unless the people who will have to
do things differently understand what must change, why it must change, and,
crucially, agree to do it;
– Helping
leaders to understand what must be done to implement the solutions successfully;
and
– Working with leaders hand-on as quasi-internals to help achieve the desired outcomes.
All of that said, a good consulting firm will not seek to push their product or service, and won’t try to put your problem into their box; instead, the lead partner will seek to deeply understand the needs of the firm and its management team, and then craft a process by which their challenges can be overcome.
3) What You Can Expect
A good
consulting firm should always distinguish between a.) the subject/content area
of client’s challenge or goal, and b.) the process by which that challenge is
overcome or goal is realized. The last section dealt with the subject/content
area; this section explains why the process is important and the type of
process that a law firm should expect of a consulting firm.
The process by
which a consulting firm helps firm management overcome a challenge or realize a
goal is critical for several reasons. First, while firms in similar market
positions and of similar sizes may have similar challenges and goals, each firm
is different; a pre-packaged solution often does not work out of the box.
Second, it is highly likely that the firm’s management, with or without partner
consultation, has already thought about an issue and is calling the consulting
firm because the firm is stuck and can’t make progress on the issue. Third, the
consultant’s first rule of engagement is that s/he must do no harm, and proper
advice can be given only once the firm and its challenge are understood fully
and deeply.
We distinguish between three types of consulting engagements: a consulting project around a given set of challenges (perceived or real) or goals, retained advice, and ad hoc advisory work. We consider these in turn, followed by a note regarding implementation and related services.
4) Projects-Based Consultancy
Consulting takes various forms, depending on the client’s situation and needs. Our organisation usually takes on discrete assignments that have multiple stages or overlapping/parallel elements, and can range from two weeks’ duration to 24 months. With such large assignments, it is essential to have a clearly defined objective and a detailed project plan agreed upon in advance with the client, and there will usually be a specified outcome. Most consulting projects — whether it’s a few meetings with experts or a project lasting 12 months or longer — usually have the following five broad components:
First, definition and diagnostics: This
simply asks the following question: “What’s going on here?” The purpose of this
element is to determine the actual underlying challenge, and whether this
challenge is the same or different from the one perceived by firm management.
Second, this element seeks to fully understand this challenge or, depending on
the objective, to understand the goals that the firm needs to achieve relative
to its competition. Third, depending on the project, this element also seeks to
validate assumptions, develop and validate hypotheses, and to uncover insights
that help develop options for a solution to the issue in the steps that follow.
Depending on
what needs to be done, this element may simply take the form of a structured
management interview, though additional assessment work is likely (financial,
client, process, culture, talent, etc.). Even our best-structured assessment
tools need to be tailored to each law firm in order to accommodate its unique
features, and often to accommodate the lack of sound management information
that goes beyond basic financial data.
For a major
project that seeks to change how partners operate the business (and their
practices) or to help a partnership make fundamental decisions about their
future, we usually encourage that partners outside the firm’s management are
involved early in the diagnostics process.
If this initial stage discovers that the problem the firm’s management wants the consulting firm to address isn’t the most important issue, a good consultancy will not blindly carry through the project that was sold but have a candid discussion with the client about a fundamental adjustment to project scope.
Second, developing and testing options: Unlike in law, in business there usually is more than one right answer to a challenge or more than one way to reach a goal – it is the constraint of resources (partner time and money available for investment) that often helps determine the best way ahead. Developing different options and testing which option will provide the maximum benefit to the law firm with the least investment of partners’ cash and time is a better approach than to provide one solution and ask the partners to accept or decline this single option. In our experience having worked with major law firms in more than 50 countries, we find time and time again that most well-meaning initiatives put forth by firm management end up not being implemented or adopted by partners because firm management concluded on a single path too early.
Third, involving partners in
decision-making: Most readers of this e-book will belong to law firms with
150 or fewer partners; most if not all partners will know one another and
expect some degree of understanding about what management is doing and why. “Horror
stories” within law firms abound of Big 4 accounting firms where “partners” are
employees who are paid high bonuses but who do not even have a say when their
firm undertakes a major merger or acquisition, let alone a lesser decision to
acquire a certain piece of software.
We have seen
even the simplest measures fail because an insufficient number of partners were
involved in the creation of the solution. Diversity and social mobility
initiatives are a key example where well-meaning and well-designed initiatives
by heads of human resources fail to be implemented properly and, thus, provide
a questionable return to the firm simply because the partners were merely
informed about how that initiative will add value to the firm but are now
sufficiently involved in understanding and shaping how that initiative will
change their practices.
The approach that will work best really depends on the size, style, and sophistication of the firm, and the nature and complexity of the problem. In some cases, a factual and directive report is all that is required, but the range of issues that a consultancy deals with tends to be contentious and involve a range of overlapping factors (e.g., culture, governance, and process). Thus, a bespoke engagement plan will need to be designed that steers over time a course of fact and opinion gathering; stakeholder (client, staff, partner) involvement; and communication, which will lead to consensus and usually a vote. The “consultation” is particularly important: People want to feel that they have had a chance to contribute to the debate, air their views, and feel they are being taken into account. You cannot satisfy everyone, but even if the final outcome is not everything that the partners had wanted, they are much more likely to accept and support if they feel that the consultation was fair, open-minded, thorough, inclusive, balanced, and transparent. If you fail to get the consultation right, then the outcome will feel like an imposition; with people of high intellect and egalitarian principles, you can expect heels to dig in!
Fourth, implementation testing and day-to-day implementation: A consulting firm usually assists with implementation in some way, whether by pilot testing the implementation; conducting the full, hands-on implementation as part of the internal team; training and coaching firm members through their own implementation; or simply reflecting the progress of implementation with the relevant members of the firm.
Fifth, establishing and managing feedback loops: The above elements rarely work sequentially; overcoming a challenge or reaching a goal often requires the above elements to be applied iteratively. For instance, a high-level development of broad options for a solution may follow an initial shallow-dive diagnosis, followed by additional analysis work as options solidify and others are discarded. Various groups of partners and other stakeholders may be involved at different stages of the consulting project. Feedback and learning loops may be agreed upon in advance or throughout a project as the scope changes. Note that the above five elements apply very broadly and in principle to any consulting project, whether it’s as operational as a major IT implementation of a new practice management software, a change to how partners develop business, or as strategic and fundamental as a change of the partner remuneration system. The work to be carried out and the exact structure of each element will of course vary widely given the law firm’s objective for the project.
Process design: A law firm should expect its consulting firm to assist in designing a process that helps achieve the client’s objectives so that the subject matter advice provided fits the business, is capable of implementation and takes hold within the firm. This is to ensure the law firm can earn a return from its financial and time investment in the acquired consulting services.
Project management: We stress the importance of project management in consulting projects. A well-managed project, following accepted project management norms, almost always achieves better outcomes and does so more easily, with less time wasted, than a project that is “defined as we go along.” Besides the substantive and process expertise, you should ask your consulting firm about its project management expertise, skills, and approach.
Retained Advisory
Sometimes the
needs are of a different nature, and then it may make sense to retain a
consulting firm or very senior advisor for a period of time. This works best if
the managing partner or executive committee is to have an ongoing sounding
board providing an external perspective on a myriad of issues that can’t easily
be distilled into a consulting project.
The reasons may
vary; the three most common retained advisories we see are:
First, most
firms now have at least one permanent external advisor who really understands
the business, firm management, and the partnership to provide impartial advice
on a broad range of strategic, tactical, and operational business issues. This
may take the form of a consulting firm (with access to a number of partner
experts within that firm), an individual consultant, or a non-executive
director.
Second,
consultants may provide ongoing implementation advice following a consulting
project and to help firm management reflect on necessary changes until a new
idea, process, or decision is implemented the way it was intended and in the
best, most profitable way for the firm. For example, it is invariably helpful
to any remuneration committee or other decision-maker for the consulting firm
to ensure that change to the system of how partners are paid is being
implemented as intended (and has been “sold” to the partners!).
Third, we have
seen a number of firms with a single trusted external advisor who manages the
relationships with all other advisory firms to guarantee a consistency of
approach and to ensure that all consulting firms advising the law firm provide
value for money.
Common also are a small number of design-and-implementation projects that are executed by small teams alongside the retained advisory.
Ad Hoc Advisory
Sometimes there
is the need for a looser, more ad hoc relationship. A new managing partner may
wish to have some advice on how he should shape his agenda or how she might
seek to convince the board on a particular approach to an issue. There is
plenty of this level of advice being given, which tends to be paid for by the
hour or the day. Sometimes this advice may be given more formality and
delivered as part of a retained advisory, even as a coaching plan, with some
specific objectives agreed upon.
Sometimes a managing partner merely needs the comfort of hearing about the experiences of someone who has done it all before as a managing partner. There are a number of eminent ex-managing partners who have offered a lot of help, comfort, and reassurance by selling the stories of the very real scars on their backs.
Using Consulting-Related Fields for Effective Implementation
Implementation
work means helping to get things done. For example, when a new invoicing and
collections process has been designed and decided upon, implementation is about
ensuring the process works, the IT works, the partners comply, and that the new
process works in the most effective and efficient way possible. The consultants
who designed the solution often do this implementation work. It is usually most
effective for this work to be done in conjunction with disciplines that are
closely related to consulting. Often the line of what is “consulting” according
to its textbook definition and what is a related service can be fluid. In our
experience, it makes little sense to be purist about this; what matters is what
helps the client overcome the challenge or reach the goal, not what label we as
professionals put on the type of work being done.
Some of these related services are covered elsewhere in this e-book; we only touch on a few examples here:
Training: This involves the transfer of
skills. In our experience, law firms and lawyers absorb knowledge easily;
acquiring skills is more difficult, especially if this involves changing how
lawyers work in their day-today client matters. For example, implementing a
consulting project about how partners should price their services to achieve
higher matter profitability nearly always involves an element of training in
assessing price sensitivity and using an IT tool for discount/premium analysis
for the implementation of the consulting project to be effective.
Coaching: In the consulting context,
coaching involves a one-on-one or team-level resolution of barriers that hold
back that individual or team from achieving certain goals. In the pricing
example above, one-on-one sessions with practice leaders can help them work
with and manage those partners who are reticent to engage with a
discount/premium analysis for their matters.
M&A and executive search: When a
law firm seeks to acquire another firm, be acquired, or seeks a merger of
equals, it may engage a consulting firm that specializes in M&A advisory
services; it may also engage with an executive search firm, or it might try a
combination of both. When opening up in a new city or seeking to extend into a
new practice area, the firm may also engage with an executive search firm to
find the right talent. This is a good and effective route. Here, the lines of
where consulting ends and M&A advisory or executive search begins may be
fluid and not transparent. It is best if the firm’s advisors work together to
define and achieve the best outcome. Good M&A brokers and executive search
firms will work with firm management and its management consultants,
accountants, and other specialist advisors to ensure that the project is well
defined and that the firm’s objectives are achievable. A battle among advisors
for “the lead” rarely provides a good outcome for the client.
Interim resourcing. For some types of needs, it is more
cost-effective to hire an interim manager or resource than an entire consulting
team. An interim resource can add value where the challenge or goal is well
defined, the firm has agreed on a path to action, and the interim manager is to
lead the implementation. The key challenge for most interim managers is that
they very quickly become part of the firm’s internal political system and thus
may be viewed by some partners as “having an agenda” Or may lose their
effectiveness because they start playing firm politics. Experienced interim
consultants and professional interim managers know well how to best retain their
“external internal” status, implement the change that is needed, and then turn
their brief over to a permanent hire before going to the next assignment.
Non-executive directors. A number of large firms have hired one or more professional non-executive directors. Typically, these are retired executives, providing deep leadership and management expertise form outside the legal industry and can add a tremendous amount of value to a law firm leadership team. They often work alongside retained consultants or help senior management manage the value-add consultants are intended to provide.
What You Should Always Expect
No matter how a consulting firm or solo consultant works with you, you always should expect that the consulting firm is focused on your firm’s challenges and goals, and that the consultant has your firm’s best interests in mind. This sounds like “motherhood and apple pie,” yet one of the biggest complaints that we hear from our clients about working with consultants is that the additional hour or the additional day charged is more important than the client reaching his/her goals. It is appropriate that consultants look where else their organisation can add value; prioritising selling the next project is not.
5) How to Hire a Consulting Firm or Consultant
In this section, I will provide an approach that works well for most law firm clients.
Initial consultations: When you know
you’ve got an issue but you don’t quite know how to define the challenge yet,
or if you know you want to achieve something different from your predecessor
but you don’t quite know how to go about it, it is perfectly legitimate to call
on a consulting firm or a solo consultant. You can sound them out about how
they would approach the topic if they were in your shoes once internal
resources and the thoughts by retained advisors are exhausted. That initial
conversation, or even two, should always be free of charge, as the consultant
should be pleased to build a relationship with you. If the problem resolves
itself in these conversations, fine. Undoubtedly you will show your gratitude
and call that same consultant again when the next topic comes around for which
external input may be valuable.
Defining a scope: If these informal
soundings are not sufficient, it is most effective to develop a short brief and
get input from your consulting firm of choice. If that consulting firm is an
expert in the subject matter, it will be able to assist you in shaping project
parameters that help you overcome your challenge or achieve your goal. As is
true for any type of project, you then agree on a scope and a fee basis for the
work to be done if it’s a project (see above), or the terms of a retainer or
indeed a combination of the two along with a success fee, as appropriate.
Defining objectives and scope is critical, no matter how the consulting firm wishes to price the work to ensure the law firm in the end gets the value it wants.
Consulting fees: Consulting firms often
charge by the hour or the day. This is appropriate for work where the scope
cannot be defined easily or if there are too many “known unknowns” in the work
to be done. In most cases, any efforts-based pricing will put the interests of
the consulting firm squarely against the interests of the law firm; the
consulting firm will want to maximize days spent, and the law firm will want to
minimize the time spent to save costs.
We posit that in
many cases, a clearly defined scope and a fixed fee or retainer, sometimes
coupled with a success element as appropriate, often is fairest to both sides.
This is because this approach focuses on the challenge to be overcome or the
goal to be achieved, not the inputs to get there. This approach helps establish
clarity at the outset, allows both sides to plan their cash flows, and can avoid
often tedious discussions about why our team needs to involve two or three team
members.
This approach does require for both sides to be willing to have early and candid discussions about scope changes.
Competitive bids: It may be helpful to get input from several consulting firms and to select the firm that provides the best approach combined with the best price. This approach works so long as the challenge and goals are well defined. In our experience, we can achieve the best results when the client remains open to changing its approach, both on how it wants to work with the external firm and on its selection process. Rigidity often provides a result that falls short of what the firm hopes to achieve. I remember vividly receiving a request for proposal (RFP) to advise a firm on changing how partners are paid; I had to go as far as advising the managing partner that his partners would likely depose him if he insisted on the methodology provided in the RFP. We then could suggest an alternative approach that ended up not only saving the firm money but also achieved a high-quality result.
Approach, methodology, technology: We distinguish
between approach and methodology that the consulting firm intends to apply to
the work at hand; both are very important. There is a big difference in
approach and result among consulting firms that labor through structured
workshops, rely on a lot of data mining, or rely solely on the “grey hair” and
experience of its consultants. Each approach is appropriate sometimes, and
likely a combination will help achieve the desired outcomes.
The methodology
that a consulting firm applies is equally important. This is because the field
of consulting does not have an easy reference point similar to codified law or
generally accepted accounting standards that define lawyers’ and accountants’
advice they provide to their clients. Experienced consultancies continuously
refine their methodologies as their main reference points in how they provide
and tailor advice to help solve their clients’ challenges. For example, we
often rely on a proprietary assessment methodology that allows us to get to the
heart of any professional services firm quickly; the methodology combines the
Balanced Scorecard, Intellectual Capital, and the McKinsey 7S, and is uniquely
suited to law and other professional services firms. We also have developed a
certain way of designing our partner workshops in a way that is particularly
engaging (and disarming!) of highly intelligent and equally critical law firm
partners.
Proprietary
analytics technology plays an increasing role in consulting projects on the
operational end. This includes legal project management, law firm cost
management, e-billing effectiveness, and the like. Less “legal” areas include
pipeline effectiveness analytics, talent turnover cost projections, and
robotics /intelligent process automation implementation.
In short, the firm’s approaches, methodologies and technologies need to be appropriate for the challenge to be overcome or goal to be reached, and both approach and methodology need to resonate with the law firm’s approach, culture, and way of doing business.
Additional things to expect in a
proposal:
The consultancy
also will usually spell out a short track record that proves the consulting
firm’s expertise in handling similar issues. Where relevant, specialist, or
professional qualifications of the team members also should be explained. In
our experience, it is helpful to have a team of several qualifications working
with a client organization, whether this is in consulting or in accounting,
psychology, finance, law, economics, or banking, just to name a few examples.
Terms of
business should include assurances of confidentiality of your sensitive
information for a number of years. It is also common for consultants to ask
that the client’s name be included in their pitch materials but, if it’s
non-competitive, to keep the nature of the work confidential. We do make proper
introductions to existing clients once a new client has made the “but for”
decision to work with us.
Some firms provide
an unconditional satisfaction guarantee for most work. We are comfortable providing
this because we are experts at what we do, and we can always deliver against
the scope upon which we have agreed. This approach also sets up early
discussions if there is dissatisfaction looming instead of a soured
relationship at the end of the engagement.
A Final Word on Consultancy
Faced with a
real problem impacting competitive capability that is beyond the ability,
experience, and resources of the firm to resolve in-house, the timely
involvement of a properly selected consultancy can produce huge value, open up
possibilities that were closed, and increase the satisfaction and sense of
purpose of the partnership. Not to overstate the case, but having the right
people on your side can even help ensure survival in the most intensely
competitive markets we have ever experienced.