REINVENTING CONSULTING FIRM STRATEGY
HEC PARIS - SPRING 2014
Since 2007, OW has become fastest growing and one of the most successful companies in the consulting industry. Their strategy was to differentiate from traditional large competitors by adapting themselves to the clients` needs. They had two very important factors creating this difference between OW and the rest; first is the deep expertise in clients` industry and second is the unparalleled collaboration with clients for the implementation of solutions. Company`s internal organization, recruitment process, career development of consultants and way of working with clients have all been adjusted in order to keep up this competitive advantage and increase their global market share. Therefore, OW can today be seen as a firm having strong expertise in different domains with great experts, known for working very closely with the client throughout the whole process.
On the other hand, OW brand name still remains behind the top tier firms and as the reputation is one of the decisive factor for clients, that should definitely need an improvement. Moreover, company`s strong focus on developed markets and very little presence in emerging markets created problems both for stability in case of a crisis and for global presence usually required by the clients.
In the second part, we will look at consulting industry in particular. In today`s world, mid-size generalist consulting firms strongly struggle against their big competitors, who can leverage their huge size, great brand name and strong international presence. Looking at the different players in the industry, two type of companies do well; the ones who choose to be small and specialize on certain industries with deep industry knowledge and the top tier companies who are more generalist but much bigger than their competitors. The rest is either dying or looking for some sort of a partner to survive. And this trend is most likely to go on which will result in...