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Current Issues in the Consultancy Business

1. Describe the waterfall effect of e-business on the consulting process.

2. Identify and describe challenges for the future of the consulting industry.

3. Describe the intellectual value-chain with the four stages
Four stages - Idea Origination -> Strategy Development -> Strategy Implementation -> Evaluation

4. Identify and describe the benefits of networking.

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1. Describe the waterfall effect of e-business on the consulting process.

A waterfall effect is any sudden downward-spiraling impact without a very noticeable warning. E-business and e-commerce has impacted a lot a businesses initially because many businesses were already operating according to their very thought-out business plans and business models. They did not plan for how e-business would change the course of doing business. In the world of consulting, many people relied on face-to-face consul and clients would have the opportunity to analyze the vibe on consultants to see if they wanted to do business or continue doing business with consultants. When e-business consultants arrived, like any other area of business, there was a loss of clientele, cheaper prices, and the urgency to find a way to compete. This waterfall effect forced consulting practices to re-group and not only find a way to compete against e-business, but also, to ...

Solution Summary

The solution discusses current issues in the consultancy business.