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SIMSREE Consulting Club Newsletter - February 2013

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Greetings from SIMCON - SIMSREE Consulting Club ! …

Greetings from SIMCON - SIMSREE Consulting Club !

Attached is the February Edition of BEACON (Monthly Newsletter from SIMCON).

We request you to kindly go through the newsletter and provide your valuable feedback and suggestions to help us improve !

Contents:
Consultancy Conclave Held by SIMCON on 23rd February 2013,
Knowledge Article about Consultancy Firm: Bain and Co.
Consultancy World News
Mini Quiz for brainees

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  • 1. Mail to:simcon.simsree@gmail.comINDEXOn 23rd February 2013, SIMSREE campus was full of talks about on goingsof Consulting as SIMCON – SIMSREE Consulting Club had successfully hosted its first‘Consultancy Conclave’. Eminent personalities visited the campus to contribute topanel discussion on the topic ‘Future of Consulting: Challenges and Opportunities’.The first Consulting Conclave was a huge success owing to joint efforts of allSIMCON members under the guidance of faculty members and Director Dr. M. A.Khan. We are also thankful to all students who were present and made it a success.Discussion started from Mr. Ashish Ambasta who is currently Director - India& Middle East at People Business (PB) shared some of his past experience as a con-sultant. He tried his best to keep the mood of the discussion light and informal by atouch of humour and also communicating with students in their own language.Mr. Ashish Ambasta guided the discussion on right track with occasionalsense of humour and asked the panellists relevant and most common questions inthe minds of students aspiring to become future consultants.1 . P A N E L D I S C U S S I O N W I T H C O N S U L T A N T SC O N S U L T A N C Y C O N -C L A V E A T S I M S R E E1C O N S U L T A N C Y C O N -C L A V E C O N T D .2K N O W U R C O M P A N Y :B A I N A N D C O .3C O N S U L T I N G W O R L DN E W S5F E B R U A R Y ’ S Q U I Z 6C O N T A C T U S 6A MONTHLY NEWSLETTER FROM SIMCON - SIMSREE CONSULTING CLUBSydenham Institute of Management Studies, Research and Entrepreneurship EducationFebruary 2013B E A C O N BE-A-CONSULTANTS I M S R E E C O N S U L T I N GC L U BIssue: 4
  • 2. Industry stalwarts who graced the occasion as a panellistfor the event were Mr. Malay Shah, Senior Principal Consult-ant Strategy at Infosys Management Consulting Servicesand also alumnus of SIMSREE from 2000 finance batch; Ms.Radhika Mittal, Director at Oracle; Mr. Munjal Kamdar, whois Senior Manager, Enterprise Risk Services at Deloitte andhe is also an alumnus of SIMSREE from 1996 marketing batchand Mr. BipParmar, Founder, Director at Lifezone Trainingand President at TKPL Logistics. Students had a pleasure ofhaving Mr. Ashish Ambasta, Director - India & Middle Eastat People Business (PB) and also alumnus of SIMSREE from2002 batch as a moderator for the panel discussion.Each of the panellists initially gave his/her view on thetopic of discussion and also talked about their area of expertise.Mr. Malay Shah explained in brief the history of consultingindustry in India, leading companies in different businessdomains and also scope of consulting industry. He illustratedhow nature of consulting has changed since first generation ofconsulting firms to more recent consulting firms like Infosysand TCS and also growth of consulting in services sector like ITand KPO. Ms. Radhika Mittal gave insights about IT consultingand also about new trend of internal consulting in which, aorganizations rather than hiring outside consultants, they preferdeveloping an internal team of consultants who are domainexperts in different strategic business units.Mr. Munjal Kamdar shared his view on consulting inrisk domain. He also talked on pros/cons of being consultantin a very interesting way. Mr. Bip Parmar enlightened studentswith some of his experiences in global business. He stressedon some of the key qualities that are necessary to be inculcated tobecome a successful consultant such as credibility, trust,confidence and networking. He also touched upon importanceof work culture for any organization as it is one thing that can‘t becopied by competitors easily.The panellists discussed about day to day challengesfaced by a consultant in today‘s competitive world and troubledeconomies. They also emphasised on importance of keepingwork-life balance for a sustainable career in consulting industry,considering the fact that this job involves not only a lot of stress,working under deadlines, preparing last minute presentations,but also a lot travelling & visiting different people worldwide.However, all panellists were of the opinion that a consultant mustbe passionate about his work and advised students to enjoytheir work.The panel discussion was followed by a brief questionsand answers session in which students got a chance to interactwith the eminent personalities and get their doubts solved. Thepanellists were impressed by the quality of questions asked bystudents and answered their queries with equal enthusiasm.Page 2: BEACONB E A C O N : C O N S U L T A N C Y C O N C L A V E A T S I M S R E E
  • 3. Deloitte Touche Tohmatsu Ltd, commonly referred toas Deloitte, is one of the Big Four professional servicesfirms along with Ernst & Young, Pw C(PricewaterhouseCoopers), and KPMG.Deloitte is the second largest professional servicesnetwork in the world by revenue and has 193,000 employees inmore than over 150 countries providing audit, tax, consulting,enterprise risk and financial advisory services. In FY 2012,Deloitte earned a record $31.3 billion USD in revenues.In 2012, it is reported that in the U. K. Deloitte has thelargest number of clients amongst FTSE 250 companies.Its global headquarters is located in New YorkCity, United States.* Services offered by DeloitteDeloitte member firms offer its services in the followingfunctions, with country-specific variations on their legal im-plementation (i.e. all operating within single company orthrough separate legal entities operating as subsidiaries of anumbrella legal entity for the country)B A I N & C OPage 3: BEACONK N O W Y O U R C O M P A N YIt has its headquarters: Boston, MA, Founded: 1973, Noof Offices: 42, Central Locations: North America, WesternEurope, India, East AsiaWebsite: www.bain.comPositives• The level of entrepreneurship still embraced even given their size• Continuous opportunity to grow and learn• The smart and fun people drive a thriving and dynamic culture• Results-oriented cultureNegatives• Intense, unpredictable and gruelling, at times• Difficult to predict what the client will want and when• Can be better when it comes to diversity• Lack of control in schedulingLife at BainThose with strong conceptual thinking will do just fine,according to younger associates, But they will need to ensure thatthey can find concrete direction with their analysis. Others havenoted that the best applicant, whether entry-level or in the middleof one’s career, will find that humility is a career attribute of allmanagement consultant applicants that are successful at Bain.Areas of FocusThe firms 5,000 consultants are experts in a number ofindustries, including the automotive, consumer products, energyand utilities, financial services, health care, industrial machinery,media, mining, non-profit and public sector, retail, services, tech-nology, telecommunications and transportation services sectors.Consulting Projects: Banking Sector — Bain &CompanyBain and Company did a project for Piggybank, whichwanted to improve its poor bottom line through better customermanagement. Historically, Piggybank had treated customers de-pending upon their relative economic position i.e. the wealthier theclient, the more profitable he is for the company. Bain conducted acustomer survey to understand the reason why people liked/disliked the bank and its services, get an idea of its current usefulproducts for customers and how it can earn more customer busi-ness. Bain also conducted a competitor research to understand thecommon products, services, pricing and relationships in local andglobal markets. Bain gave them recommendations to club differentproducts to lure customers, offer sweep accounts (giving betterrates to the customers), separate tele-service line to expedite theprocess to service customer needs, offer financial planning ser-vices to customers , assign a personal banker to each customer tohelp them understand products better. By taking steps advised byBain, Piggybank increased its profits to 38% and increased its cus-tomer retention to 90%.Bain & CompanyParent Company The Bain & companyCategory Strategy and Financial ServicesSector ConsultingTagline/ Slogan People, Passion, ResultsUSP Expert in Private Equity and Leveraged buy OutSTPSegment Businesses in urban areas in various countriesTarget Group Most clients are major private investment firmsPositioning They are experts in financial services consultingSWOT AnalysisStrength1. They are expert in PE, Mergers & Acquisitionsand financial services consulting firm2. Skilful workforce of over 5000 employees3. It has nearly 50 offices in over 30 countries4. It has a strong brand presence in the field ofconsultingWeakness1. Their geographical reach is weak in emergingeconomies2. Alleged controversies in Value partners andGuinness affected imageOpportunity1. They have more opportunities in Asia andgrowing economies2. Diversification in the fields of consulting toincrease reachThreats1. Stiff competition from industry players2. Fluctuations in currencies affects projects3. Competitors with own knowledge centresCompetitionCompetitors1. McKinsey & co.2. Booz & co.3. The Boston Consulting Group
  • 4. Financial Services — Bain& CompanyBain and Company provided Financial Services to FinServe, one of the major global players incommercial and consumer lending. FinServe was facing pressure from their shareholders due to stalledgrowth. The company had already implemented cost-cutting measures which had stabilized their incomestatement. But in order to promote future growth, they consulted Bain and Company (referred as Bain fromnow).Bain evaluated the company‘s portfolio and assessed the long term aspects of 20 subscale busi-ness units. They helped the client to share resources by grouping them by geographical location and com-mon business attributes, to market products effectively and to benefit from economies of scale. After theplanning stage, Bain helped FinServe to lead training sessions, efficiently make decisions, make organiza-tional changes and in turn expedite and streamline execution. Result: Helped FinServe to increase profitsby 15% annually and increase the market capitalization by 30% in app 1.5 yrs.Note: this is a different project and not related to finserve above thisIn US, every 26 seconds a student drops out of high school. To curb the alarming dropout rate,‗Urban Youth Co.‘ has created the pre-eminent volunteer youth service organization in America. It unitesyoung people of all backgrounds for a year of full-time service in the underprivileged communities across20 cities, working as a tutors, mentors and role models to help children stay in school by improving atten-dance, behaviour and course performance.Problem:UrbanYouth Co was under pressure to expand its successful Boston program to other US cities.Bain helped them tackle two critical challenges: 1. developing a clear growth strategy and well-managedfinance and 2. fundraising operations.Recommendations:* Doubling the number of its US offices over five years.* Clearly structuring the relationship between Boston and expansion sites.* Developing five-year strategic plans for both Boston and Los Angeles.* Transforming financial operations to boost revenues.* Focusing operations and fundraising on its core—reducing the number of high school dropouts.Results:* UrbanYouth Co. expanded operations to 18 US cities and abroad, and strengthened its position in thedeemed important areas.BAIN & CO.Page 4: BEACON
  • 5. Cognizant announces record Q3 2012-2013 resultsCognizant Business Consulting has achieved year-on-year growth in Europe of 40% and this in turn has fed into widerrecognition among clients and consultants alike.“Analysts are saying we are getting our consultancy model right and people want to be somewhere exciting,” ex-plains Mike Hunter, CBC‘s head of European consulting. “We’re going out and hiring a lot of talent at partner level.”―We‘re not like our competitors where IT services have moved into consultancy and clouded the dividing line between busi-ness and IT. That‘s been very good for attracting great clients; we‘re more able to achieve thought leadership throughthe types of people we‘ve brought on board.‖“The consultants I really respect are the ones who can tell me tomorrow’s problems, what tomorrow’s businesswill look like,” he says. “We call this the Future of Work—it‘s the way we look at the future of things like retail, banking,what‘s driving certain industries, who are the people who want to be radical, the people like Google and Apple.‖This feeds into what Hunter describes as business without boundaries which in turn calls for advice without boundaries.“The client doesn’t care—within reason—where they are getting their though leadership from—there‘s much morevirtualization, people are more mobile,‖ he says. “The boundaries have broken down.” A recent client was part-waythrough a transition program but wanted to talk to someone about where the business might be in three years time.With CBC‘s delivery of consultancy also becoming more virtual, so that it can make better use of its global roster ofexperts, Hunter believes the traditional dynamic of consultancy is changing.Global consulting spend set to increase but consultants are trapped in the back office -2013The most comprehensive report ever conducted into clients‘ use of management consultants has found that almost half(49 per cent) of consulting clients expect their spend on consultants to increase in 2013, with a quarter expectingdouble digit percentage increases. In particular, companies operating in the energy and natural resources sector areexpecting to call on the services of consultants, with a tenth expecting their spend to rise sharply.Source claims that this is one of the most positive readings of the market it has taken since 2007, suggesting thatthere‘s genuine cause for optimism, with only 16 per cent of those surveyed expecting a fall in spend.Technology consulting under demandIn overall terms technology consulting looks set to enjoy the strongest growth. Organizations surveyed stated they arefour times as likely to expect their use of consultants on technology projects to increase, as decrease. Only 14 percent of the organizations surveyed said their expenditure in this area will fall – compared to 56 per cent who thought itwould grow.Opportunities still exist in the buoyant energy and natural resources sector for conventional, large-scale IT projectsdriven by the need to replace increasingly obsolescent systems. Elsewhere, more specialist advice is being sought inareas such as cloud computing where the IT and telecoms service providers lack the consulting skills to articulate andadapt their proposition, and the ability to discuss technology issues with functional heads outside the IT department.Operational improvement and strategy consultingDemand for operational improvement consulting also looks set to grow faster than average in 2013, with 54 per cent ofend-users expecting expenditure in this area to increase. Strategy consulting will also grow in 2013 but at a slightlylower rate than the market average. Source says that the immediate focus here will be efficiency, but growth is never farfrom thought. However, in stark contrast there is less growth in demand for advice on financial management and control.The need to improve technology, increase sales and reduce expenditure continues to drive a lot of organizationalactivity and expenditure on consultants.Consulting World
  • 6. 1..Audio products from the House of Marley2. Due to Defects these products were recalled3. Shapoorji Pallonji Mistry group.4. Otto Bock and Sainsbury’s5. Woodward’s Gripe Water by TTKPharmaMail Answers To:simcon.simsree@gmail.com withSubject= simcon_quiz_feb_2013First Received All Correct Answers willbe published in next month’s Edition.C O N G R A T S ! ! A N S W E R S T O V O L - 3 . J A N .1 . What is common to Queen Elizabeth I, Charles Dickens, Greta Garbo, Mahatma Gandhi, John Lennon and recentlyMark Twain?2 . This Canadian was called Mr Fix-it during his school days when he made buzzer boxes forschool game shows. He got a big break when he responded to a General Motors RFP to develop anetwork computer control display system just two months before graduation. Name him, the com-pany he founded and the brand he owns.3. Identify the lady in the pic4 . It is an over the counter antiseptic perfumed cream sold in India. The brand was launched in1929 in Kolkata by gourmohan dutta , a Bengali merchant .It is a combination of the antisepticboric acid, the astringent and sunscreen zinc oxide, and the emollient lanolin5 . Which CEO has set up a practice of inviting only one senior leader out of the 200-odd leaders in his company to hishouse for the weekend which is dubbed as a sleepover?QUIZZ TIME !!Contributions invited: To make this feature a successful effort,we seek continued involvement and contribution from our readers, thatis YOU. We invite articles and trivia on themes related to consulting. Beit industry news, consulting trends, a joke, a cartoon or feedback, weare eager to hear from you. So go ahead, do your research, pen downyour thoughts and mail your entries to simcon.simsree@gmail.com.Best Regards,SIMCON –SIMSREE CONSULTING CLUBSIMSREE, B-ROAD CHURCHGATE 400 020, INDIA.Mail To: simcon.simsree@gmail.comQUIZZ FOR FEBRUARY 2013Mr. Vernon FernandesMMS 2012-14 SIMSREE

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