This document discusses strategic relationship planning for consulting firms. It begins by outlining the importance of developing and maintaining relationships between consulting firms and their clients. It then discusses characteristics of relationship-centric organizations and processes for strategic relationship planning. The document provides questions to guide evaluating current relationship banks, most valuable relationships, and systems for relationship reinforcement. It emphasizes that alternative dispute resolution may be necessary when relationship reinforcement strategies fail. The overall message is that consulting firms should focus on developing long-term relationships in order to ensure business continuity and success.
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2. โA consistent focus and an exponential
ability to โlearnโ and โunlearnโ is what
drives success criteria in the current era
of globalizationโ
- Bobby Varanasi (Founder, Matryzel Consulting)
3. A standard consulting strategy should
hold forth nodes of relationships
between the consulting firm and its
clients, identifying those networks as
basis for business continuity.
4. Relationship-Centric Service
This involves engaging, delivering and
managing service with a clear-cut focus
on developing relationship between
the service producer and consumer.
5. Characteristics of Relationship-Centric Organizations
โข Adaptive
โข Big Thinking
โข Emotionally Astute
โข Execution
โข Follow-Through
โข Strategically Values Information
โข Unbound
โข Talent Magnet
โข Keeps it Simple
โข Purposeful
Source: Journal of Applied Psychology
6. Strategic Relationship Planning
Itโs the process of transforming a
firmโs most valuable relationships
into quantifiable performance,
execution and results.
8. Looking Back
โข Action for collaboration with other
consultants and consulting firm
โข Other relationship-centric
achievements during the previous year.
9. Looking Forward
โข Current Relationship Bank
โข Most Valuable Relationships
โข Relationship Currency Exchange
โข System for Following Through
10. Current Relationship Banks
i. Do you maintain a database of contacts?
ii. How current is your database?
iii. Do you employ multi-dimensional categorization in the database
system?
iv. Have you identified and documented broad insights of contacts?
v. Do you have plans for tracking information on valuable relationships?
vi. What is your frequency of relationships portfolio review?
vii. Do you have a model of ideal relationship?
viii.Do you have a list of target relationships for the next financial year?
ix. How aligned is your list of target relationships with the model of ideal
relationships?
x. Are there some relationships neglected in the past financial year?
xi. How do you propose to ensure optimal resourcefulness in each
relationship?
11. Most Valuable Relationships
โข Who are your top seven clients?
โข What do you understand about their operations, threats, strengths,
weaknesses, opportunities, market and growth challenges?
โข Have you been able to leverage analytical capability in tracking the
needs of your clients?
โข How do you plan to increase your knowledge base of those clientsโ
business?
โข How do you intend to manage the diversity of relationships?
โข Which of those clients referred you to prospects?
โข Do you know why the referral was done?
โข What attracted those clients to you?
โข Which of those attraction factors have you developed further?
โข Have you observed increasing profitability in the relationship between
you and those clients?
โข Can your relationship with those clients survive mishap?
12. Relationship Currency Exchange
i. Who are your top referral sources?
ii. Whatโs the bond between you and the referral sources?
iii. How do you show appreciation to the referral sources?
iv. Have you been a referral source to any of them?
v. Would you classify your relationship with them as parasitic or
symbiotic?
vi. What are your plans for more productive positioning?
13. System for Following Through
i. How do you ensure your โfollow throughโ does not stand as
โfollow upโ, knowing that โfollow upโ is a transaction while
โfollow throughโ is a process for ascertaining that the value
delivered is that which had been promised?
ii. Have you identified the criteria for relationship investments
and pursuits?
iii. What is your current relative reputation in your field of
expertise?
iv. How do you plan to improve your reputation for content?
14. Return On Involvement
i. With what organisation is your firm involved?
ii. What impact was created from your involvement?
iii. How far did you expand your intrafirm involvements with that
organisation?
iv. What is the extent of intrafirm coaching in your firm?
v. How did you enhance your firmโs intellectual capital?
vi. Whatโs the importance of strategic relationships to your firm?
vii. What performance level do you want to attain?
viii.What do you require in order to attain that level of performance?
ix. What are your pivotal contacts?
x. Describe your firmโs relationship liabilities in the past financial year.
xi. How will you mitigate such risk in the next financial year?
xii. Identify the most valuable and most diverse relationship asset which
your firm gained in the past financial year.
15. Reason versus Influence
Where the other party fails to identify
evident reason, a viable option shall be
influence, which is leveraged on social
network.
16. Social Network Analysis
This is the process of mapping and
measuring relationships and flow
between people, groups, firms and
other entities.
SNA is the granny knot of Psychology,
Sociology, Anthropology,
Organizational Development and Graph
Theory (Applied Mathematics).
17. Uses of SNA
i. Leadership Development
ii.Strategy Execution
iii.Team Development
iv.Business Development
v.Change Management
vi.Alliance Development
vii.Mergers and Acquisition
viii.Relationship Management
19. The Place of ADR
When relationship reinforcement
strategy fails to keep two parties
together, then the next option shall be
Alternative Dispute Resolution.
21. โThe relationship you begin to build
today, may turn out to be the joint
venture that makes you an incredible
success tomorrow!โ
- Ginger Geracitano
22. Dr Elijah Ezendu is Award-Winning Business Expert & Certified Management Consultant with expertise
in Interim Management, Strategy, Competitive Intelligence, Transformation, Restructuring, Turnaround
Management, Business Development, Marketing, Project & Cost Management, Leadership, HR, CSR, e-
Business & Software Architecture. He had functioned as Founder, Initiative for Sustainable Business
Equity; Chairman of Board, Charisma Broadcast Film Academy; Group Chief Operating Officer, Idova
Group; CEO, Rubiini (UAE); Special Advisor, RTEAN; Director, MMNA Investments; Chair, Intโl Board of
GCC Business Council (UAE); Senior Partner, Shevach Consulting; Chairman (Certification & Training),
Coordinator (Board of Fellows), Lead Assessor & Governing Council Member, Institute of Management
Consultants, Nigeria; Lead Resource, Centre for Competitive Intelligence Development; Lead
Consultant/ Partner, JK Michaels; Turnaround Project Director, Consolidated Business Holdings Limited;
Technical Director, Gestalt; Chief Operating Officer, Rohan Group; Executive Director (Various Roles),
Fortuna, Gambia & Malta; Chief Advisor/ Partner, D & E; Vice Chairman of Board, Refined Shipping;
Director of Programmes & Governing Council Member, Institute of Business Development, Nigeria;
Member of TDD Committee, International Association of Software Architects, USA; Member of Strategic
Planning and Implementation Committee, Chartered Institute of Personnel Management of Nigeria;
Country Manager (Nigeria) & Adjunct Faculty (MBA Programme), Regent Business School, South Africa;
Adjunct Faculty (MBA Programme), Ladoke Akintola University of Technology; Editor-in-Chief, Cost
Management Journal; Council Member, Institute of Internal Auditors of Nigeria; Member, Board of
Directors (Several Organizations). He holds Doctoral Degree in Management, Master of Business
Administration and Fellow of Professional Institutes in North America, UK & Nigeria. He is Innovator of
Corporate Investment Structure Based on Financials and Intangibles, for valuation highlighting
intangible contributions of host communities and ecological environment: A model celebrated globally
as remedy for unmitigated depreciation of ecological capital and developmental deprivation of host
communities. He had served as Examiner to Professional Institutes and Universities. He had been a
member of Guild of Soundtrack Producers of Nigeria. He's an author and extensively featured speaker.