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2ASEAN Economic Community (AEC) The Association of Southeast Asian Nations, orASEAN, was established on 8 August 1967 inBangkok, Thailand, with the signing of the ASEANDeclaration (Bangkok Declaration) by theFounding Fathers of ASEAN, namely Indonesia,Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam, Viet Nam, Lao PDR, Myanmarand Cambodia subsequently joined in, making upwhat is today the ten Member States of ASEAN.
3ASEAN Economic Community (AEC) The ASEAN Economic Community (AEC) shall bethe goal of regional economic integration by 2015.AEC envisages the following key characteristics:a) a single market and production baseb) a highly competitive economic regionc) a region of equitable economic development,andd) a region fully integrated into the globaleconomy.
4ASEAN Economic Community (AEC) The AEC areas of cooperation include human resources development and capacity building; recognition of professional qualifications; closer consultation on macroeconomic and financialpolicies; trade financing measures; enhanced infrastructure andcommunications connectivity; development of electronic transactions through e-ASEAN; integrating industries across the region to promoteregional sourcing; and enhancing private sector involvement for thebuilding of the AEC.
5ASEAN Economic Community (AEC) In short, the AEC will transform ASEAN into aregion with free movement of goods, services,investment, skilled labour, and freer flow of capital. AEC is likely to offer various opportunities toconsultants and clients.
622th Asean Summit -- Brunei 24 & 25 April 2013 Leaders’ retreat to focus on move towards AEC Economic integration … on track (77% complete) Code of Conduct (COC) … and sea disputes
7Plenary Session Plenary Session -- “Tapping opportunities from ASEANEconomic Community (AEC)” In this session, we will look atopportunities arising from ASEAN and its new role, and otherrelated subjects in the region. Some points for discussion: What lessons we can draw from other regional economiccommunities (e.g., Europe, Americas, Greater China etc) What are the challenges (and opportunities) forconsultants? For clients? Suggest some ideas on tapping into AEC opportunities
825 April Morning Session “Re-inventing and innovating the consulting sector: newbusiness models”. We will examine the special challengesarising from creating new business models, and managingconsulting innovation. Some points for discussion : What could be a suitable business model framework forconsultants to better create value in Asia Pacific? How should consultants in Asia Pacific innovate? How could consultants in Asia Pacific work better inconsulting innovation?
Defining business modelA business model describes the rationale ofhow an organization creates, delivers, andcaptures value-- Business Model Generation,by Alexander Osterwalder & Yves Pigneur9
12Challenges faced within the consultingindustry
13Idea hunter: I : Interested D : Diverse E : Exercised A : Agile Source: /http://www.imd.org/news/Bill-Fischer-co-authors-new-book-The-Idea-Hunter.cfm
14The Idea Hunter:“Breakaway ideas come to those who are inthe habit of looking for such ideas – allaround them, all the time … They understandthat game-changing ideas are already outthere, waiting to be spotted and then shapedinto an innovation.”-- Bill Fischer, IMD Professor Source: /http://www.imd.org/news/Bill-Fischer-co-authors-new-book-The-Idea-Hunter.cfm
Management innovationin the UK consulting industryOctober 2011Dr Joe O’Mahoney(Fellow at the Advanced Institute of Managementand Lecturer at Cardiff University)15 LSLConsulting
16• Innovation is primarily driven by the need todifferentiate from the competition’• Innovations are most commonly initiated through‘working with clients’• Most respondents believe innovation has increasedin the last five years• More respondents reported the introduction of new orimproved services in their consultancyKey findings: innovation practices
17• Most important enablers of innovation: Access toexternal research, high levels of autonomy and strongupward communication• Main constraints on innovation: lack of time due tohigh utilisation rates, and low levels of risk taking byclients.• Working with clients on innovation• Procurement hampers the sale of innovativeconsulting services (both in private and the publicsectors)Key findings: enablers, constraints, workingwith clients, and procurement
18• Think small: not another BPR or TQM .. requiring ideas that aretailored for clients’ local needs.• Share costs and expertise: universities, research institutes,clients and other consultancies share resources on interestinginnovative activity• Explore new frontiers: ... bringing fresh ideas in and listening tothem; recruiting graduates that are not from businessschools;seeking out different sources of research and knowledge;organising cross-silo spaces for discussion.Recommendations -- consultancies
19• Enable talent: providing consultants with autonomy and the earof senior management; Innovation involves risk so looseningcontrols is no bad thing.• Be proactive: clients and procurers taking risks, havingconversations and enabling creativity; though communication,education and persuasion.• Develop your people: training, conference attendance andprofessional, accredited staff were important enablers ofinnovation; ... continuous professional development .. a strategiccapacity for consultancies.– The value of the standards (EN16114)– The Value of the CMC CertificationRecommendations -- consultancies
20• Work with consultants: Co-working with consultancies: a closermatch of solutions with client needs, more motivated and skilledemployees, a potential sharing of intellectual property andassociation with ground-breaking ideas.• Take risks: examine and prioritise the areas of client businesswhere new ideas could put client ahead of the competition. Putaside some of client’s budget to work with consultancies on newideas, if possible using a risk-reward form of payment so thatrisks are shared with the supplier.Recommendations -- clients
2225 April Afternoon Session “Learning from Consulting Case Studies”. We will discussand share examples of consulting projects, to reflect anddistil good practices and get more visible outcomes from 3case studies: Some points for discussion: What are the 3 common features in the consulting casestudies presented? 3 different features? How would you do differently in these consultingprojects in the context of AEC? List some good practices you may be able to adopt inyour own consulting & business practices
2325 April Afternoon Session “Exploring collaboration among consultants” -- In this session, we will have dialogues to explorecollaboration among consultants, and project opportunitieswith clients. Some points for discussion: M&A projects Innovation projects Executive education