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The 10 most recommended management and strategy consultants
- 1. The 10 Most Recommended Management & Strategy Consultants VOL-09 / ISSUE-01 Dynamic Orbits Leading the field of Strategic Advisory Services BL Bajaj Founder CXO Standpoint Consulting Sector: Challenges for the future
- 4. oday, service industry is one of the fastest growing sectors of Tthe Indian economy. It accounts for more than 50% of India’s Gross Domestic Product (GDP) and forms the backbone for social and economic development. This industry comprises of various sub-sectors in which Management & Strategy consulting is one of them. Management & Strategy consulting is an industry in which the consultants provide advice to those in charge of running and operating a business. They are responsible for business transformation. Management & Strategy consultant helps business owners and managers select the right tactics for success. They involves in setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and making sure that the strategies are rolled out across the organization. Releasing new products? Collaborating with established companies? Finding exciting ways to make yourself valuable to them? Want to increase market share? Picking up the right strategy takes work. Same strategy doesn’t works for everyone. A company may adopt several different strategies as it grows from a start-up to an established player. Strategic planning will helps keep the ship from hitting the rocks. It never ceases to amaze how much time people invest to find out endlessly magical strategies to succeed in business. Today, every business needs to be flexible and need to have good planning and good organizational skills to succeed. Also, even the best business ideas don't deal themselves; to succeed one need a strong business strategy. The Management & Strategy consultants can be best defined as the one, who helps in figuring out where the company wants to go, how the owners want to get there, and how they'll know if the strategy was successful. They help organizations in improving their performance primarily through analysis of existing organizational problems and through development of improvement plans. Organizations hire the services of Management & strategy consultants for a number of reasons including for gaining external advice and access to the consultant’s specialized expertise. This bring forward the importance of the Management & Strategy consulting industry and the role of consultants in assisting organization’s improving their business performance. Editorial Management and Strategy Consultants: Helping Business to Grow Shruti P. Jambhale
- 5. SME-SMO Executives Manoj, Ketki Circulation Manager Tanaji Digital Marketing Manager Prashant Chevale Technical Specialist Amar, Pratiksha Co-designer Mayur Koli Art & Picture Editor Rahul Kavnekar Art & Design Head Amol Kamble Associate Designer Poonam Mahajan Copyright © 2019 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success Media and Technology Pvt. Ltd. Reprint rights remain solely with Insights Success. Printed and Published by Insights Success Media and Technology Pvt. Ltd. Corporate Ofces: Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: [email protected] For Subscription: www.insightssuccess.com Insights Success Media and Technology Pvt. Ltd. Ofce No. 22 & 510, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: [email protected] For Subscription: www.insightssuccess.in [email protected] SEPTEMBER, 2019 Follow us on : www.facebook.com/insightssuccess/ollow us on : www https://twitter.com/insightssuccess Cover Price : RS. 150/- Editor-in-Chief Pooja M. Bansal Managing Editor Rahul Niraj Executive Editor Shruti Jambhale RNI NUMBER: MAHENG/2018/75953 Business Development Executive Nikhil Chavan Business Development Lead Ashwini Pahurkar
- 6. Cont COVER STORY Interview with Insights Success 14 08 Dynamic Orbits Leading the field of Strategic Advisory Services Naman Delivering Innovative, Value Based, & Customized HR Solutions
- 7. CeNext Consulting To Help you Navigate through Complexities Snig Consultancy Services Revolutionizing Textile Industry Indigenously ents 18 Market Insight Consultants Facilitating Decisions for Business Growth 20 26 Consulting Sector: Challenges for the future 24 CXO Standpoint
- 8. his month, Insights Success has come up with the special issue “The 10 Most TRecommended Management and Strategy Consultants”. Here, we have tried to focus on recommended management and strategy consultants and their company’s portfolios with unique solutions. Some of the below mentioned recommended management and strategy consultants in India have grabbed our attention. On the Cover of the magazine, we have featured the special story of Dynamic Orbits Consultants Pvt. Ltd. -Dynamic Orbits is a leading Investment Banking Firm based in India focusing on Cross Border Business Development and providing consulting services in diverse areas. We have also focused on different companies with their creative core personas, who have come up with most unique solutions. Thus, we have chosen, CeNext Consulting -CeNext is a business strategy consulting firm for companies seeking growth, and advisor on global investment opportunities for institutional investors and funds. Market Insight Consultants - MIC is a fully integrated research and consulting firm. Snig Consultancy Services -It is a company facilitating advanced textile technology solutions. Along with this, we have an exclusive ‘Interview with Insights Success’. Here, the head of the company Naman Integrated Management Services Pvt. Ltd., Samir Parikh has shared some insightful answers highlighting the influences made by their firm, service offerings, winning honors, current and future perceptions. So, flip the pages of our magazine and explore interesting insights into the world of business! Management and Strategy Consultants: Appealing Profit by Making Risky Moves THE 10MOSTRECOMMENDED MANAGEMENT STRATEGY CONSULTANTS &
- 10. BL Bajaj Founder
- 11. DYNAMIC ORBITS LEADING THE FIELD OF STRATEGIC ADVISORY SERVICES Cover Story HAVING HELPED MULTIPLE COMPANIES GOING GLOBAL NOW ITS TIME FOR ITSELF TO GO GLOBAL THE 10MOSTRECOMMENDED MANAGEMENT STRATEGY CONSULTANTS GEMENT ATEATEA &
- 12. India is a land of SMEs who are mostly highly efficient self-made entrepreneurs. The most significant challenge these entrepreneurs face is achieving and managing growth beyond a certain point. Limited exposure to the external environment, limited understanding of dynamics of managing a large organization, non-strategic distractions, and lack of defined growth strategy are common issues. This is where entities like Dynamic Orbits Consultants Pvt. Ltd. (Dynamic Orbits) come into play. Founded in the year 2004, Delhi NCR based Dynamic Orbits Consultants provides complete end-to-end solutions right from conceptualizing strategies to implementing them till the organization achieves desired outcome. operating out of its offices in Gurgaon and Mumbai The Man behind BL Bajaj, the Founder A rank holder Chartered Accountant BL Bajaj is the Founder of the company. The Gold Medalist Company Secretary Mr. Bajaj has hands-on experience of personally managing multiple business ventures both as top corporate professional as well as a serial entrepreneur. Having seen end-to-end business cycles of multiple ventures, Mr. Bajaj brings in his deep expertise in every aspect of the business both at a micro and macro level. He has single- handedly built an organization from scratch to the position where it stands today. More about the Company The company envisions to become the most preferred service provider facilitating growth - both organic and inorganic. In the last 15 years of its existence, Dynamic Orbits has closely worked with a large number of mid-sized corporate helping them to grow organically and inorganically. Dynamic Orbits helps companies in developing a holistic growth strategy which would include elements of organic growth, backward and forward integration, diversification, inorganic growth through M&A, resources planning, and strengthening complete back-end support. Till today, it has served more than 100 clients across 12 countries. While the company is large enough to provide the promised services, it is small enough to work extremely closely with the entrepreneurs. The major differentiators of the services provided by Dynamic are- • Deep understanding of real-life functioning of different businesses • Work closely with the WE DON’T WAIT FOR OPPORTUNITIES, WE CREATE THEM!
- 13. entrepreneurs as their extended arm. • Only picking selected assignments but puting in every possible effort to make it a success The Purposeful Journey Dynamic Orbits is mainly engaged in advising its clients on multiple strategies to facilitate growth. Main focus areas being Cross Border Mergers & Acquisitions, Domestic Acquisitions, Business Exits, Joint Ventures, and Organic Growth Strategy. It provides complete set of solutions closely working with the promoters right from concept to conclusion. The journey of Dynamic Orbits has been satisfying with clients spread across industries like chemicals, auto components, logistics, pharmaceuticals, consumer goods, business services, distribution and so on. The company has provided and is providing services in the areas of Growth Strategy, domestic Mergers & Acquisitions, cross border Mergers and Acquisitions, Fund Raising in complicated situations and Resources Planning and Optimization. Dynamic Orbits has helped its clients acquiring companies in geographies like Latin America, Europe, and South East Asia apart from several transactions within the country. It has also helped exiting multiple companies both at the company level and business unit level. It also takes pride in successfully completing complicated fundraising assignments. While the list of satisfied clients is too long. It has been responsible for the transformation of strategic business approach and mindset of various clients it works with. Some of the prominent client names are - • Om Logistics Ltd • Mayur Uniquoaters Limited • Minda Industries Ltd. • Minda Corporation Limited • Supreme Industries Ltd. • Jyothy Laboratories Ltd. WE WORK AS GROWTH ENABLER, TOUCHING EVERY POSSIBLE POSSIBILITY TO GROW AND MANAGING THE GROWTH EFFICIENTLY THE JOB OF LEADER IS TO GET EXTRA ORDINARY RESULTS FROM ORDINARY PEOPLE. GENIUS ARE EXPENSIVE AND SCARCE
- 14. • Viney Corporation Limited • Kores India Limited • Dorset India • Punjab Chemicals • Polygel Industries • Vimercati Spa, Italy • Borealis, Austria • KH LLoreda, Spain • Teka, Germany • Dallas Trading, UAE • Sanfield, Hongkong Founder’s Word to Newbies “Activities of advisory services require a clear understanding of business issues. Anybody trying to enter into this field should first obtain some relevant practical experience. M&A advisory needs a lot of patience and anybody with the mindset of month to the month steady cash flow should not embark in this field.” • Think Big • Be Realistic • Plan Well • Execute Meticulously Exceptional Future Having firmly established itself in Indian market, Dynamic Orbits is now eyeing the global markets. It is planning to set up overseas offices in places like Singapore and Frankfurt. It looks to be on a firm footing to leverage its domestic success in the global market place. Appreciation Excerpt from Clients Brijesh Agarwal, Managing Director, Viney Corporation Ltd. “Having closely worked with Dynamic for almost 10 years now, I can say that they are ideal partner for any mid- sized company aiming for exponential growth” Ajay Singhal, CMD, OM Logistics Ltd. “Strategic inputs from Dynamic are always practical and implementable. I guess the reason is simple-hands on the experience of Mr. Bajaj in multiple businesses” PC Somani, CFO, Supreme Industries Ltd. “We closely worked with Dynamic for M&A assignments. We are highly impressed with their dedicated commitment and support level during the entire journey of the projects” GROWTH STARTS WITH POSITIVE MIND SET SUPPORTED BY PUTTING IN PLACE STRONG ENABLERS THAT IS WELL THOUGHT STRATEGY, WELL PLANNED RESOURCES AND STRONG EXECUTION
- 15. Yes I would like to subscribe to Insights Success Magazine. Address : Country :City : State : Zip : Date : CORPORATE OFFICE Name : Telephone : Email : Insights Success Media and Technology Pvt. Ltd. Ofce No. 22 & 510, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 USA: 302-319-9947 Email: [email protected] For Subcription: www.insightssuccess.in Cheque should be drawn in favour of : INSIGHTS SUCCESS MEDIA AND TECH PVT. LTD.
- 16. n an interview with Insights Success, Samir Parikh Ihave shared some insightful views and highlighted the influences made by his company - Naman to be the most recommended Management and Strategy Consultants. IS: Kindly brief us about the company. “Naman” is a traditional Indian way of greeting others with a Respectful Bow, A gracious form of extending Warmth, Respect, and Humility. The company believes the crux of Human Resource lies in that, partnering with clients with a similar sense of warmth, respect, and humility to empower them towards achieving their desired goals and inculcating a deep-rooted people-culture. Our vision is to be the most trusted and preferred organization offering innovative and value-based HR Solutions for business excellence. IS: Brief us about the Founder/CEO of the company and the major contribution of him/her towards the company. An acclaimed leadership evangelist, successful coach, impactful speaker, and an accomplished entrepreneur, Samir Parikh runs a successful, HR Consulting Organization and is also heading a Joint Venture with the globally renowned ‘DOOR International’. His companies offer services across regions in South Asia, South East Asia, and the Middle East. Samir’s rich experience of 29 years ranges from SMEs to MNCs where he has led multiple strategic HR, OD & Process Excellence assignments across levels. Samir’s leadership tenor is widely known through his contributions in professional and social organizations; be it as the Convener of HR - IR Panel of CII; through designing International RYLA Programs; as a Visiting Faculty at leading schools like S. P. Jain and MICA or in the capacity of President of Baroda Management Association (BMA) and Chairman of RCBC Foundation. Samir has also pioneered the very impactful ‘LEAAD’ Program for high school students. Energy and versatility are Samir’s hallmark. Widely traveled, great communicator and astounding human-being, known for establishing a credible and trusting relationship based on mutuality and respect, Samir is a lifelong learner and leads by example. IS: Please share with us the initial struggle that strengthens the current success of the brand. Samir’s passion towards adding value was the biggest motivational factor for him to embark upon his mid-career entrepreneurial journey. The decision of leaving a well-settled career for starting a new firm was a tough one to make. Since back in 2004 independent Human Resource Consultancy was a rare segment for start-ups. In fact, the start-up ecosystem as it is today did not exist then, leaving us with little to bank upon and put undivided time and efforts. Starting from a small town, Vadodara, another obstacle faced was having the desired talent on board and creating traction for it as well. But with the strong vision to grow and thinking beyond the limitations of the city, over time it all fell in place. The company saw modest growth and remained debt-free throughout. There has been no looking back since then. Creating a brand name thereon was a tough nut to crack but moving steadily to overcome all challenges, Samir has made Naman to be the company it is, today. IS: Tell us about the services you provide through your venture. Naman is a trusted and preferred HR Consulting firm offering end-to-end HR solutions developed by experts with proven experience of over 4 decades in the industry. Our HR solutions are customized to resolve Naman Delivering Innovative, Value Based, & Customized HR Solutions 14 | SEPTEMBER 2019
- 17. strategic, tactical, and operational challenges faced by client organizations. Our services are divided under two vertical, Organizational Consulting and Talent Assessment and Development where we render indigenously developed content, executed by our consultants with strong technology integration. IS: Please share some success stories, awards, and accolades that the company has received. Having partnered with 200+ clients across business verticals in India, Naman possesses unmatched expertise in developing and implementing talent management initiatives, performance management systems, psychometric services, and leadership building strategies for every industry. Training over 8000 people every year, our growth started from 2006 with some of our first multinational projects to now having our footprints spread across various locations, 8 of the top 20 pharmaceutical companies as our clients and repeat assignments from 100% of our clients. There has been no stopping since then, the success leads us to have copyrighted products and public programs of our very own interventions BOLT® (Blending Ownership and Leadership for Transformation), which won the Best Paper Presentation Award in its initial years, MIDAS™ (Maximize ‘I’ through Discovery and Application of Strengths), LEAAD (Leadership Enrichment for Adolescents through Assessment & Development) and more. Naman has also recently won the CII National HR Circle award for Change Management and the Best Emerging HR Consulting Company Award at Asia Pacific HRM Congress by Times Ascent, in the past. IS: Advice for budding entrepreneurs who are trying to embark in the same field. To be passionate towards the work they’re doing, take ownership of it and enjoy the outputs all along. IS: Brief us about the future of the company or the goal it has set to mark its exceptionality in the future. To create a network of Partners across India, Southeast Asia and the Middle East with our presence spread globally. Sam PikhFounder | CEO Interview with Insights Success 15SEPTEMBER 2019 |
- 20. otivation and empowerment have always been Mthe key drivers for every task well done, and every work successfully completed. This indeed is the prime feature that distinguishes great performers from the also-ran. In business especially, when there are multiple risks and imponderables all the time; inspiring words become the effective catalyst in uplifting the minds and the spirits of the leadership team. Many times, inspiration is just not enough. Even successful people need a helping hand when they come across a plethora of seemingly conflicting issues in their professional or personal life. Therefore, seeking guidance from those who know better is quite a normal response. In fact, it is fully justified. There is no need to re-invent the wheel – when it is possible to seek guidance from those who have done it before and done it well. Timely advice can indeed foster an individual’s or an organization’s potential for creating a better future. Stemming from the rising demand for wise and practical inputs from companies and CEOs, CeNext Consulting & Investment Pvt Ltd. is making its name known across the globe. It is a unique one-of-its-kind strategy counselling firm that believes in profits with conscience, growth with equity and compatibility with nature. CeNext is known for its ‘holistic work-ethic’ approach which ensures its analysis and recommendations are anchored on the need to be in sync with new realities - social consciousness, environmental issues, cross-cultural aspects, and a non-negotiable set of ethics. Exceptionally Intellectual Force Ravi Chaudhry – Founder/Chairman, established the firm in 1995. Earlier, he was Chairman /CEO of four companies in Tata Group, India. Almost for three decades, he managed operations that encompassed the manufacturing and marketing of a diverse range of products and services. That included industrial electronics and engineering products (including ball and roller bearings and packaging machinery), cotton yarn and textiles, shipping, infrastructure and logistics, consumer durables, specialty chemicals, financial services, and retail. As a mechanical engineer, he gained grass-roots experience first as Factory Manager and then as General Sales Manager, before taking on the mantle of CEO in the companies. “It is this first-hand experience in virtually every facet of business in a most diversified portfolio that gave me the confidence to set up my consulting company and it has been the most satisfying endeavour,” says Ravi. Today, he is internationally known as an author, a futurist, a public speaker, a Fellow of World Business Academy, USA (a network of global thought leaders), and a leadership guru. His book, ‘Quest for Exceptional Leadership: Mirage to Reality’ has been widely acclaimed as ‘a contemporary masterpiece, and the best book on leadership in years’. He continues to be on the Boards of several institutions, including: ‘Advisory Board of Ethical Markets USA’ and Co-Chair, Ethic Mark Judges Panel USA. Member, New Civilization Youth Entrepreneurship Initiative, Japan, and Expert, Katerva – the ‘Nobel Prize for Sustainability’. He has also been a part of the ‘Club of Rome Initiative for Ethics in the 21st century.’ Ashwin Chaudhry - Managing Director, CeNext Consulting is head of Investments Division. He was previously based in New York for more than fourteen years managing a $1 Billion Alternative Investments portfolio at NATIXIS Alternative Investments. Before that, he was managing a similar portfolio at Celestar Capital Advisors and AXA Investment Managers in New York. He did his MA in International Finance and Economics from Brandeis University, USA, along with International Business Studies at Rotterdam School of Management, Erasmus University - the Netherlands and BA in Economics from Brandeis University. Proven Expertise in Unique Niches CeNext has established strong credentials in four key niches: • Assisting Leaders in business and society to keep abreast of the ever-changing geo-political and geo-economic scenario, continuously tracking the new ‘Trajectory of Technology and Trends, & Opportunities CeNext Consulting To Help you Navigate through Complexities 18 | SEPTEMBER 2019
- 21. and Risks’, while building an Agile Organization. Not just to survive, but prevail, and also assure a reasonable return on investments. • Conducting a ‘Strategy Dialogue to Review, Re-align, and Re-strategize Global Business Plans’ and ‘Evolve a New Integrated Business Strategy,’ compatible with contemporary realities. The seven-step process focuses on organizational capabilities, alliance opportunities, clarity of objectives and unambiguous priorities with definitive rationale. The outcome is an ‘Agile Aligned Leadership Team’ with a new ‘Action Agenda’, and a new business template. The company also identifies potential Alliance Partners for overseas companies in India & Indian companies overseas. • An investment advisory service for global institutional investors, sovereign wealth and pension funds, family businesses and foundations, on their investment strategies in the US, Europe and Asia (particularly India, China & Vietnam), as well as assisting global private equity funds, hedge funds and private companies in raising capital. The firm has expertise across multiple asset classes: Private Equity, Public Equities, Hedge Funds, Venture Capital, and Direct Investments & Co-Investments. • Mentorship to CEOs, Corporate Boards, Governments, Academia, and Civil Societies, on ‘Strategy, Agility, Mindfulness, and Creativity’. This is achieved by helping them activate their dormant strengths and acquire the ‘new traits of exceptional leadership’ necessary to ‘cope with the future’. CeNext’s clientele includes global conglomerates such as BASF and BMW (Germany), DHV (Holland), Sunstar (Japan), Sabanci (Turkey), Domino Sciences (U.K.), Perfetti (Italy), A1 Group (Slovenia), and many other leading Indian companies. The list also includes Governments of Switzerland, Turkey, Brazil, Austria, Norway, Canada, Germany, and the Netherlands. The Guiding Light Ravi shows the path to young and budding entrepreneurs with his usual clarity: “It is a wonderful time for the young – once again. You can sense that a powerful hammer is fracturing the world we knew. So many established corporations and institutions are falling by the wayside – just because they failed to adapt to the change. It is a new world and it will have new winners. You have as good a chance to succeed as anyone else. But do remember that the end of privacy in the world of constant surveillance makes it necessary for a leader to be more transparent and more diligent than ever before.” We are a Consulting Group committed to creating a new corporate DNA for coping with the future ‘‘ ‘‘ Ravi Chaudhry, Founder, Chairman THE 10MOSTRECOMMENDED MANAGEMENT STRATEGY CONSULTANTS GEMENT ATEATEA & 19SEPTEMBER 2019 |
- 22. o get a grasp and reach out to customers, apart from Tamazing products, a company needs a thorough understanding of its market. An in-depth analysis of the market helps them make well-informed business decisions. Serving such domestic and global companies since 2002 is Market Insight Consultants(MIC), fully integrated research and consulting firm with the capability to handle the entire gamut of research and consulting services. MIC is positioned as a Decision Support Consultancy with in-house research ability. Valued Services MIC provides a range of service in the research and consulting domain across different industry sectors. The services baskets broadly include: • Market Access/ Market Feasibilities • Marketing Strategies • Customer Satisfaction Measurement and Strategy • Brand Architecture • Market Making • Partner selection and JV structuring • Distribution set-up • Implementation of sales processes • Training The Transformation in to a Brand During the initial days of the organization, the biggest challenge was to create a differentiated positioning in the market research and consulting industry. MIC undertook the strategy of not doing the run of the mill research projects and started pitching for new areas of intersects between consulting and research where it could carve a niche for itself while creating value for the clients. Working on differentiating factors and adroit client selection gradually started working in favour of MIC strengthening its position in the market today. MIC is now considered a leading player in the country in various domains like aviation and hand-holding services for foreign companies wanting to establish a presence in India. The company has been named as one of the best supplier by Delhi International Airport Limited for playing a vital role in gearing up the DIAL to qualify the global ACI audits which lay the basis for ranking of the major airports globally. Amongst the SME consultants, MIC has the highest track record of bringing in global companies into India. Besides, MIC is credited with launches of multiple foreign companies in India, across diverse sectors as varied as construction to luxury. The Guiding Light In 1993, Sanjay Nagi, a mechanical engineer from IIT Roorkee ventured into consulting and started his company. He subsequently sold off in 2002 immediately and then started Market Insight Consultants as a niche consulting firm that is positioned as a Decision Support Consultancy. Sanjay has developed some innovative and differentiated models on the measurement of corporate interfaces like Customer, Internal Customer and Channel satisfaction. Under his leadership, MIC has developed a solid body of work around innovation at firm, sector and national level. He consults with blue-chip corporate clients like Godrej Group, Mahindra & Mahindra, Tata Group, Shriram Pistons, GMR, GVK to name a few. MIC is working with Ministry and Science and Technology to measure very intangible subject like innovation. It is the only company in the country to have a process-based model for Supplier Satisfaction. It has also structured the entry of Market Insight Consultants Facilitating Decisions for Business Growth 20 | SEPTEMBER 2019
- 23. over 60 Foreign firms in India with its own designed model “Getting you to India.” Companies like DSM- a 10 billion dollar firm, Technogym, Panasonic …are a few of them. A qualified ISO assessor trained by IQA UK, Sanjay is also a Business Excellence assessor trained by CII, and is a MASTER TRAINER in Marketing on the panel of CBI, Government of Netherlands and is a global trainer who has conducted programs in South Africa, Europe, Vietnam, Tanzania, Ethiopia, Dubai and Pakistan. His MICRUTS FOUNDATION supports entrepreneurship at the bottom of the pyramid by skilling and capacity building. His FOUNDATION FOR BUSINESS COMPETITIVENESS is engaged in training and capacity building and has rolled out the entire capacity building for MSME Ministry’s ZED scheme. Words of Wisdom For young entrepreneurs: “The overarching advice would be to keep higher goals and essentially differentiate yourself in the market through your service offerings while keeping an eye of changing market environments which may also offer opportunities for growth and value creation.” For MIC’s Future: “MIC proposes to be doing less of standalone projects and more partnering with its clients for integrated Market Making – guiding and hand-holding them through the entire process of market dominance.” We grow your business with you ‘‘ ‘‘ Sanjay Nagi Founder THE 10MOSTRECOMMENDED MANAGEMENT STRATEGY CONSULTANTS GEMENT ATEATEA & 21SEPTEMBER 2019 |
- 26. Business Consulting firms play a vital role in helping businesses. The role could be as different and wide ranging as strategy to as specific as growth consulting. In this area of digitised, global, rapidly changing business world where the next disruption is round the corner it puts may challenges on the consulting firms also to keep up to speed to be able to remain valuable to its clients. In this article, let’s have a quick look at the top challenges (business or otherwise) being faced by the consulting industry all over the world. 1. Increased Competition of a different kind: Please note the word, of a different kind. What has happened in the recent past is that too many disruptions are happening in the world of business e.g. technologies are emerging which are commoditizing the regular routine consulting business, information is available in public domain almost free or at a nominal cost to anyone who wants or needs it. Thus one of the key pillars or differentiators of the big firms is disappearing rapidly. 2. Changes in the buying behaviour of purchasers: Buyers are no longer buying services from consulting companies due to their long standing reputation. Earlier “Brand Value” took a long time to create and go down. Not in the modern world of business. On-line channels have changed that completely. A new company with excellent on-line presence can rapidly reach a stage of competing with a bigger company and nibble away its niche business. The other change in this area is that buyers are asking for more and more result driven consulting and result driven compensation models. Also in this agile world, people are looking for faster delivery of services. 3. Need for new skills: In this rapidly changing world of business globalisation, new technologies etc. etc. it is very very tough to keep reskilling your people. Training keeps them away from potentially billable hours, hiring people with new skills makes them unskilled within 3-4 years (because the requirements change so fast). It is a tough choice with somehow does not seem to have a clear answer. The rapid speed of disruptive innovations and/or new technologies is outpacing organizations ability to manage the changes appropriately while running and growing the organization 4. The uniqueness is gone: Two decades ago big four had unique knowledge and best practices advice which made their offering invaluable. Now, much of this information is readily available to those who are willing to research. Also, the alumni of Tier 1 consulting companies are now spread across the businesses in leadership roles across everywhere thus making their capacities available across the industry. 5. New Competition: Boutique and specialists firms are not the only form of completion now. The Consulting Sector Challenges for the future 24 | SEPTEMBER 2019
- 27. increase in independent consultants operating is also providing major competition to the big players. Also their access to the market via on-line portals (which advertise requirements for consulting) have increased their ability to compete with the top ties firms. In conclusion: While I could go on about the changes and the impact on the consulting industry for many more pages but here is the fundamental truth. Every industry, from time to time, due to changes in the various external factors undergoes basic changes in its structure via consolidation, segmentation etc. For many decades consulting industry was felt to be immune from the upheaval going in the rest of the business. No more now. Consulting industry’s time to change has now come. Changes via merger/Acquisitions, consolidation, failures due to inability to keep up with the changing times etc. are going to soon change the look and feel of consulting. How long before it happens? Well, anybody’s guess is as good as mine. My guess….in another 5-10 years, the consulting landscape would have changed so much that what we see today will be material for the Business History books… Enjoy the ride till then. Manoj holds a Bachelor of Technology from the Indian Institute of Technology in Kanpur and PGDM from the Indian Institute of Management in Lucknow. He has over 34 years of experience in the IT industry. A large part of his professional experience has been in leadership positions, rendering Technical and Strategic Leadership to software organizations at the level of Managing Partner, Member of the Board etc. During his career he has lived andworked in UK, Europe, US and India. He is an avid writer having written for newspapers and publications like Economic Times, Business Standard etc. Manoj also has been involved in Academics for quite some time. As a guest faculty he has taught in IIM, IIT etc. and has been a member of the Academic Advisory Board of many institutes. At present he is the CEO of TMTC, a leading business consulting company. Manoj ABOUT THE AUTHOR CXO Standpoint 25SEPTEMBER 2019 |
- 28. nig Consultancy Services was founded in June S2006. It is a consulting venture with a dedicated and efficient team of textile professionals specialized in their respective fields pledged to effectively provide global standards of excellence through its ‘Complete Textile Solutions’. The Company believes in providing excellent services to the customer, complying with industry norms and criteria as well as maintaining professional and ethical standards with the utmost confidentiality. “We help to identify critical problems and work with the clients in overcoming them as a trusted advisor and offer various Textile Technology related specialized services,” says the team of Snig Consultancy. The firm specializes in the majorly in the areas such as Textile Manufacturing, Quality Management, Product Development, Industrial Engineering, Textile Innovation, and Technical Textiles, etc. along with other allied fields. A Textile Revolutionary R.N. Kanungo - Founder/CEO of Snig Consultancy, after obtaining his B.Sc.(Tech) degree from the University of Calcutta in 1964, had a brief stint with the Textiles Committee - Ministry of Commerce, Government of India (GOI). Subsequently, he pursued his Post Graduate research at V.J.T.I, Bombay as a Senior Fellow under the Technical Teachers’ Training Programme 1967 of the Ministry of Education (GOI). He was awarded the M.Text degree in 1970 from the University of Mumbai formerly known as the University of Bombay. Kanungo is a recipient of ‘Fellow of The Institution of Engineers, India’ (F.I.E) award which makes him an accomplished Senior Textile Professional having more than four decades of rich industrial and research experience. He started his initial work as a Scientific Officer in ATIRA, at Ahmedabad and was employed there between 1970-75. His journey helped him in obtaining diversified industrial experience for the next two and a half decades (1975-98). On top of that, Kanungo managed to acquire an immense wealth of knowledge and work experience in the fields of Textile Production, Quality Control, and Assurance, Process Control, Industrial Engineering, Research, and Development, etc. He provided his expertise in some of the reputed textile industries such as Mafatlal, Soma and Asarwa group of mills. While working with Mafatlals at Mihir Textiles Ltd. Ahmedabad from 1985-86, he played an instrumental role in introducing the first microprocessor controlled ‘High Volume Cotton Testing Instrument (H.V.I)’ modules from the american company M/s Spinlab Inc. Later, it was introduced as the concept in‘Scientific Bale Management’ the Indian Cotton textile industry. His management advisory experiences in the two of the world’s largest textile conglomerates namely BEXIMCO Dhaka, Bangladesh and the Arvind Mills at Ahmedabad, between 1998-2006, enriched his wealth of knowledge in the upcoming areas of Product Innovation. These areas included his significant work on ‘New Generation Fibres’ and the introduction of the concept in‘Polymer to Fashion’ the textile industry which largely contributed to the progress of the present consultancy venture. Snig’s Dynamics Given the rapid changes taking place in almost all spheres of Textiles, the company currently envisages to moving forward at a relatively slower pace than other bigger consulting companies, so as to maintain sufficient technical strength. The things that need special attention are particularly in the new areas of Product Innovation, Product Development, Polymer to Fashion concept, Emerging New Generation Fibre trends, and Technical Textiles development areas, etc. Hence, that’s where the firm’s most of the focus will be for the time being. From the last 10 to 12 years, the Textile Technology related services, offered by the company are as follows: a) Preparation of project reports in the areas of textile manufacturing such as in Spinning, Weaving, Chemical Processing, and Garments, etc. b) Selection of Plant and Machinery. c) Providing technical solutions during installation, erection, commissioning of new projects and commercial production. Snig Consultancy Services Revolutionizing Textile Industry Indigenously 26 | SEPTEMBER 2019
- 29. d) Management of Quality/Process Control, Quality Assurance, and Product Development related services. e) Troubleshooting areas in existing manufacturing processes. f) Assistance in identifying markets, Domestic and International. g) Sourcing of Raw Materials for conventional as well as new innovative products such as Cotton and Synthetic, High tech/ High-performance fibre. Also yarns and fabrics for any kind of new product development phase, especially for the textile and garment industry. Apart from all this, the company received numerous queries from the clients, particularly asking for start-ups with new ventures in Technical Textiles. This included innovative areas like Textile manufacturing, Knitting, and Garment industries which had been subsequently dealt with by Snig Consultancy and the problematic areas where the issues originated were provided with proper solutions. Initially, there was not much of a struggle. After launching the company’s website in mid-2006, lots of efforts were put in by the Snig team to identify prospective clients and to gather information on their potential needs. All of this was carried out to guide them in solving their areas of problem and suggesting suitable road maps for the successful implementation of new projects. The entire process was executed with precision while realizing the ongoing needs of the individual clients in order to accomplish their sales and marketing goals for the future. With this regard, effective personal communication and subsequent discussion through individual review meetings with the clients for further implementation of their new manufacturing setup projects were done. Invariably, short and long term troubleshooting areas has helped in establishing goodwill and effective rapport with the old, new, and upcoming clients for the success of the brand. Guidelines for the Upcoming Industry Disruptors The company’s consulting experience over the last few years suggests the following advice for a successful budding start-ups and entrepreneurs: a) The consulting team should consist of specialized professionals in their respective areas and should work with a clear, dedicated and disciplined focus. b) They should possess interpersonal skills, good networking , and problem-solving ability so as to be able to help in identifying clients’, critical problems and work with them in overcoming such issues like a trusted advisor. c) Given the rapid changes in technologies, the consulting team must also be willing to learn and open to acquiring new knowledge, ideas, and information on new inventions, etc. This will help in developing creative skills and advise the clients accordingly, for any new changes in their future endeavours. d) The consulting operational team must also be prepared to offer excellent Customer Services complying with industry norms as well as maintaining professional and ethical standards with the utmost confidentiality. e) Most importantly, the team must seek to instil confidence in the clients and help them in maintaining mutual transparency with the consulting company to have a successful long term business relationship. Within the framework of Product Development & innovation- ‘Continuous improvement’ and ‘Creativity’ are our two key concepts ‘‘ ‘‘ R.N.Kanungo Founder, CEO THE 10MOSTRECOMMENDED MANAGEMENT STRATEGY CONSULTANTS GEMENT ATEATEA & 27SEPTEMBER 2019 |