SIMSREE Consulting Club Newsletter -December 2012

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Greetings from SIMCON !

Wish you Merry Christmas and Happy New Year !

It gives us immense pleasure to present you December Edition of our monthly newsletter "BEACON".

This issue covers articles on HR consulting (by our SIMSREE student Mr. Avdhoot Patane), IT consulting, book review of 'The Mckinsey Mind', industry related recent news and quiz.

Hope you enjoy reading the newsletter ! Do provide your valuable feedback.

For more updates on consulting industry, keep visiting our FB page.
http://www.facebook.com/SimCon

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SIMSREE Consulting Club Newsletter -December 2012

  1. 1. With The Christmas on the Calendarand New Year approaching fast, We wouldlike to remind students that BenchmarkSIX Sigma who is RABQSA CertifiedSix Sigma Training Provider will keepworkshop for the Six Sigma certificationfor our students.Early January is target duration, soput your mind-car to fast gear and startpreparing, We hope to see many GreenBelt Certifiers! soon. Best of luck from theentire team.1. Welcome 2013C O N T E N T SO FN E W S L E T T E RWelcome 2013Food: Human CapitalConsultingBook Review: TheMcKinsey MindOur Introduction to ITConsultingMind Workout QuizzC o n s u l t i n g w o r l d t r i v i aCognizant has topped the client satisfaction and relationship rankings in KPMG’sOutsourcing 2012 study of service provider performance across Europe.Deloitte and Decernis LLC, a leader in global compliance management systemsfor global product safety, announced on Dec. 11, 2012 an alliance to providesolutions to consumer product, food service, retail and distribution companies.Capgemini has been awarded a more than €100 million five-year outsourcing con-tract for Unilever. Way to Go Capegemini!Roland Berger Strategy Consultants are celebrating its 45th anniversary theyhave expanded to amazing 240 Partners, 2700 employees, 51 offices, 36 countries.A MONTHLY NEWSLETTER FROM SIMCON - SIMSREE CONSULTING CLUBBEACONDECEMBER 2012ISSUE 2BE-A-CONSULTANTMany Congratulations to GauravDode, Ishan Shah, Yogesh Athale fromcollege for their feat at Annual RotaryClub of Mumbai & Mega Ace ConsultancyRolling Trophy competition for manage-ment studies!!Topic Chosen by the team wasSocial Networking: New World Order,Team submitted detailed research paperand summary report.Congratulations to all you winnersfrom SIMCON Club.Sydenham Institute of Management Studies, Research and Entrepreneurship Education
  2. 2. Employees are one of the most important stakeholders of business. In this highly competitiveworld, organizations are trying to differentiate themselves and employees are a biggest key factor in thoseinitiatives. To make this happen human resource leaders are coming out with innovative techniques.But current scenario says something different than what we expect. A recent global survey spon-sored by Deloitte Touché Tohmatsu and the Economist Intelligence Unit found that only 4% of SeniorBusiness Executives surveyed believe that their HR function is highly effective in addressing the needs ofthe business. 60% of those surveyed describe HR’s capabilities as “adequate but needing improvement,”and another 30% of survey participants say “significant improvement” is required.In the era of outsourcing, Human capital management is no exception. Organizations are tryingto use expertise from consulting professionals to remove the organizational hurdles to perform efficiently.HCM consulting is ranged from Recruitment to M&A activities.HR Strategy and PlanningToo often, Human Resource (HR) organizations transform themselves in a strategic vacuum, re-sponding to the business’ day-to-day operating needs without a clear view of the big picture. To be effec-tive, HR needs to align its improvement efforts with the company’s business strategies. This requires anHR transformation strategy that is realistic and executable – with accurate plans, schedules, resourcerequirements and estimated benefits that the company can rely on.In this consulting exercise, generally top strategic priorities are identified and a plan is devel-oped which is synchronised with the vision and the objectives of the business. Process begins with keyissue identification, strategy development, implementation, and finally change management. Priority areasare generally supporting revenue growth, operational excellence and talent strategies.Organizational TransformationIt’s not unusual for changes in the business to drive the need for organizational change as well.Whether the result of an acquisition, a new technology, or a new strategy, shifts in the business invariablyrequire an organizational response.Here, first organization assessment is done to understand the root cause of the need of thetransformation. An organization design, job design and transition plan to support the new organizationis prepared with proper decision rights distributed. Finally, goals and vision are aligned with the struc-ture. Also, globalization is playing important role in shaping the structure.Talent, Rewards and Performance managementWe are now having technology driven businesses and talent being most important asset, henceacquisition and retention of talent is most important. To make employees motivated to deliver highest qual-ity, rewards and recognition programs are implemented.First talent needs are analysed along with the changing trends in technology, business process.Acquired talent needs to be nurtured. Training plan becomes essential part of this system. RewardsManagement needs to be implemented to get the best results out of the employees. The Measurement ofperformance and the corresponding rewards are defined.Mergers & AcquisitionOrganizations whose M&A deals have reached financial and operational targets, often attributethose outcomes to how well they anticipated the challenges that come with integrating different sets ofpeople, processes and systems.There are varieties of problems which need to be addressed by the HCM consultant, some ofthem being retention of critical workforce, rationalizing workforce etc. The cultural diversity is alsoone of the important factors which need to be addressed here.2. FOOD FOR NEURONS:Human Capital ConsultingP a g e 2 B E A C O NArticle Contributed By: Mr. Avdhut Patane
  3. 3. B E A C O NP a g e 33. Book Review:The McKinsey MindTitle: The McKinsey MindAuthor: Ethan M. Rasiel, Paul N. FrigaIn last issue, we reviewed one of the best-sellers written on consulting industry – “TheMckinsey Way”. Now, this follow-up implementation manual, The McKinsey Mind, opens upthe hands-on secrets behind the prestigious firms success --and explains how executives from anyfield or industry can use those practices to be more proactive and successful in their day-to-day decision-making. This book provides a framework for solving problems and delivering andimplementing solutions by delving deeper in how Mckinsey’ites actually go about a consultingassignment. Following are crucial learnings that we can take from this book.Framing the problem- The first step starts from framing the problem. MECE (Mutually Exclusive and Collec-tively Exhaustive) is the way we should look at problems. An initial hypothesis will not only help us to focus on exactissue, but also to save the time spent on the just forming a conception of the problem.Base your analysis on initial hypothesis - For every problem, you need an angle to approach from. This can be consideredas your hypothesis, which decides the scope. Once you have this determined, you can decide what has to be done to reachresolution.Design the Analysis – Just focus on the key drivers responsible or the problem. Then look at the bigger picturefrom different angles. Dont strive hard to find the stage where you will find the solution. Sometime the solution justflows to you during the process.Gathering the data – Though not a new discipline, the way process has been explained sounds very interesting.Also more helpful is the appendix called "Data-Gathering Resources" which enlists all possible business-related database."Whats the So What?" – In every possible stage of analysis, the question every consultant should ask himselfis "Whats the So What?" This essentially means asking yourself what value have you generated for your client/stakeholders through your findings.Interpreting your results – Find out the useful data. Here again 80 -20 rule holds true. Usually 20 % of datawill fulfill your 80% needs. Make charts for everyday progress, work according to your facts and be prepared to leaveyour solutions. Dont provide facts fitting the solutions. Just do the opposite.Presenting the Data – Be structured, know your audience and act accordingly. Avoid overloading the informa-tion. Contents of presentation should be kept very precise and clear, covering all and only essential points.Managing your Team – Get the right kind of people. Look for diversity, not just in academic terms but also interms of behavior. Keep everyone in the same information loop, and always encourage the team building.Managing your Client – It is extremely to maintain integrity and commitment towards client. Also, it is veryimportant to walk the talk, which is to deliver what was promised. Get the client involved rather than offering him a merelistener’s role.Managing yourself – As author says, "If the place isnt falling apart, go home at 5, enjoy the time & reenergize."Lay down your rules for family and yourself and stick to them. Manage your work life and family life balanceDistinct feature about this book is the lucid language maintained by the author throughout, without compromis-ing on the usage of technical jargons and terminologies as and when required. Also, the book gains additional value dueto the summarized lessons in appendices at the end. All in all, The McKinsey Mind unlocks the techniques of theworlds preeminent consulting firm and presents them in a format that is easy to understand and even easier to implement.We do Recommend this Book for Reading!!
  4. 4. 4. IT Consulting & BPO IndustryP a g e 4IT consulting is a vast field that focuses on advising best IT solutions tomeet the business objective. An IT consultant should posses various skills such astechnical, advisory skills, business skills etc. As more companies now are followingthe trend of delivery of IT consulting services within a defined time and price structurehence in recent days fixed price IT consulting model is growing rapidly.The life of an IT consultant is filled with daily challenges such as keeping upwith the latest technology, choosing the right products for a job, managing complexprojects, and networking with associates to find the next contract. Hardware consult-ing, Software consulting & Networks consulting are main sub types under IT Con-sulting.B E A C O NCompany CurrentRatioQuick Ratio Debt Eq-uity RatioInfosys 4.68 4.6 -----TCS 2.45 2.43 0.01WIPRO 1.92 2.48 0.22HCL 1.38 1.42 0.11Indian IT-BPO Industry AnalysisIndian economy is slowing down over the last fewquarters, underscoring the urgency of implementing politi-cally difficult reforms to spur a revival in Asias 3rd largesteconomy. Dr. Rangarajan, Chairman of the Prime Minister’sEconomic Advisory Council predicted the overall growth ratefor this fiscal year is between 5.8% and 6%. The continuousweakness in manufacturing sector is one of the worryingfactors for Indian economy.On other hand, Indian IT-BPO sector has become one ofthe most significant growth catalysts. This industry is alsopositively influencing the lives of its people through anactive direct and indirect contribution to the varioussocio-economic parameters such as employment, standardof living and diversity among others. Industry has playeda significant role in transforming India’s image from aslow moving bureaucratic economy to a land of innova-tive entrepreneurs & a global player in providing worldclass technology solutions and business services. Indus-try has helped India transform from a agriculture-basedeconomy to a knowledge based economy.Mr. Rakesh Khachane works with MindCraftPvt. Ltd. as an IT Consultant. His valuable experience inIT field will surely help us get some good idea about ITConsulting.MindCraft had been awarded by McAfee, IBMand Oracle and many other Awards for demonstratingsuperior value to its customers.Warm wishes from SIMCON & SIMSREE.
  5. 5. 4. IT Consulting & BPO IndustryP a g e 5FY2012 is a landmark year – while theIndian IT-BPO industry weathereduncertainties in the global businessenvironment, this is also the yearwhen the industry is set to reach a sig-nificant milestone – aggregate reve-nue for FY2012 is cross over USD100 billion.B E A C O NRevenue Type FY2012 (Estm.) GrowthExport Revenues (Including Hardware) USD 69.1 billion 16%Domestic Revenues (Including Hard-ware)USD 31.7 billion 9%Software and Services Revenues(Excluding Hardware)USD 87.6 billion 14.9%Key Highlights during FY2012• Milestone year for Indian IT-BPO industry-aggregate revenuescross the USD 100 billion mark, exports at USD 69 billion• Within the global sourcing industry, India was able to increaseits market shares from 51 per cent in 2009, to 58 per cent in2011, highlighting India’s continued competitiveness and theeffectiveness of India-based providers delivering transforma-tional benefits• While the global macroeconomic scenario remained uncer-tain, the industry exhibited resilience and adaptability in con-tinually reinventing itself to retain its appeal to clients• Embracing emerging technologies, also increased customer-centricity, deepening focus on new markets, adopting new busi-ness models are some successful growth strategies followed bythe industry of million people• The industry continues to be a net employment generator - expected to add 230,000 jobs in FY2012, thus providingdirect employment to about 2.8 million, and indirectly employing approximately 8.9 million.
  6. 6. 5. MIND WORKOUT: QUIZZ TIME !!1- This firm is a privately owned American consulting company, cofounded on September 21, 1983, by an Indian originmarketing professor Prabhakant Sinha of Kellogg School of Management along with Andris A. Zoltners . The company,which has grown to over 2,100 employees has provided primarily sales and marketing consulting to over 700 clients.[2]Around 85% of these clients are in the pharmaceutical, biotechnology and medical products industries, while the remaining15% are from the high tech, telecommunications, transportation, consumer products and financial services sectors.2- In 1845 he opened an office in Basinghall Street in London. He was the first person to be appointed an independentauditor of a public company. He went on to open an office in New York in 1880. He was the founder of a major consultingfirm. Identify the person & the company he founded:HASTA PRONTO!!Contributions invited: To make this feature a successful effort, weseek continued involvement and contribution. From our readers, that is YOU.We invite articles and trivia on themes related to consulting. Be it industry news,consulting trends, a joke, a cartoon or feedback, we are eager to hear from you.So go ahead, do your research, pen down your thoughts and mail your entries tosimcon.simsree@gmail.com.Best Regards,SIMCON –SIMSREE CONSULTING CLUBSIMSREE, B-ROAD CHURCHGATE 400 020,INDIA.Mail To: simcon.simsree@gmail.comMail answers to simcon.simsree@gmail.com (we will announce winners in next month)B E A C O NP a g e 6WINNER: November Edition Winnerfor maximum correct Answers is Mr.Nikhil Deshmukh. Congratulations !!3- One of the most prestigious management consulting firms in the world, This firmcoined the terms w like supply chain management, product life cycle, PERT chart andmany more.. Which company are we talking about ?4- An alumnus of IIM Calcutta & Yale university , she did her intern with BOOZ & Ham-ilton & went on to work for Bain & co . She joined a food & beverage company & latershe was promoted as the CEO of this global beverages company . Identify who?5- Identify the persons in the pic & ConnectAnswers: (November)1.Rajat Gupta McKinsey2.Orit Gadiesh Bain & Company3.Mitt Romney4.Arthur D Little5.Price Water House Coopers

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