|
| Compromise |
 |
It's not easy being a CEO these days--or any executive, for that matter. And in times of tumult, many CEOs turn to their consultants for counsel. But there's a move afoot that is changing how some senior executives get the help they need.
They're listening to their peers instead of to consultants. Why the shift?
According to some executives, consultants' advice is too abstract, and many consultants seem more concerned with extending their contracts than rocking the boat with controversial, forthright advice.
Earlier in my career, one of my colleagues believed his client's business was on a collision course with bankruptcy unless the client's executive team made a corporate course correction. The client disagreed, but offered a substantial, non-competitive contract to advise the company on implementing the strategy my colleague questioned.
Instead of shifting gears and taking the contract, my colleague declined and told the executive exactly why.
As soon as consultants compromise their principles in exchange for a contract, it's the beginning of the end of the client relationship. Few behaviors are more transparent than self-interest, and the act of trying to save a contract can lead to much bigger losses in the end.
Knowing that a consultant has the courage to walk away from a lucrative project, which is rarely easy, is exactly what will keep clients coming back for more.
Enjoy this month's issue.
And send me an email if you have comments.
P.S. Don't miss the next sessions in our Path to Profit webcast series: Creating a Killer Web Site on August 20, and Writing the Winning Proposal on August 27.
Mike
McLaughlin
Editor
Management Consulting News is a publication of MindShare
Consulting.
|
| MCNews 12 Index of Professional Services |
 |
As we move into the second half of the year--a time when many services buyers head off for some well-deserved downtime--the services industry isn't taking a vacation. Powered by strong demand for IT services, IBM, Accenture, and Satyam led the pack with double-digit gains. Bearing Point, Wipro, and Infosys continue to buck the trend, registering year-to-date declines in their stock prices.
Overall, the industry's stock price performance led the S+P 500 return by more than twenty percent in July, which represents the strongest performance of the year.
|
MCNews 12 Index |
YTD
Change |
S+P 500
YTD Change |
| July |
1101 |
10.15% |
8.39% |
| Jan to June |
1059 |
5.94% |
4.97% |
The MCNews 12 Index reflects general investor sentiment about the state of the global professional services industry.
The twelve publicly-traded companies included in the MCNews 12 Index account for roughly $80 billion in combined annual revenue, and serve clients around the world.
Learn More about the MCNews 12 Index 
|
| Interview:
Bob Prosen |
 |
  If you have commissioned sales people working for you, you should always know at a moment’s notice how many are making plan.
Bob Prosen thinks there's just too much business theory in a world where practical advice is what's really needed. To solve that problem, Prosen wrote the book, Kiss Theory Good Bye: Five Proven Ways to Get Extraordinary Results in Any Company.
We asked Prosen his views on the state of business management and leadership and how he'd address the problems he regularly observes.
Read
our interview with Bob Prosen
|
| The
Writing on the Wall, by Alan Weiss |
 |
 There Isn't an Instrument for Every Tune
If you don't have very good math skills, I doubt that you'd try to become, say, an actuary. In fact, you wouldn't make a very good dealer in a casino. If you don't like the water, then perhaps being a lifeguard is beyond your grasp. I don't like small talk very much, so I don't pretend to host parties, (though I pay for a lot of them!).
What's the ability you need as a consultant to ensure that you've got a fighting chance of making it?
Read
the article
|
| Beyond Your “Story” |
|
 by Jeff Thull
I'm sure you'll agree that establishing credibility is one of the most critical elements in securing a new client. Clients must see you as a credible and trustworthy resource.
When we ask our program participants to describe the elements of credibility, they often suggest things like: a proven track record, a list of satisfied clients, number of years in business, financial strength, and business size. Those are all contributors to credibility.
Our next question is: "How do you establish or convey that credibility to prospective clients?" Invariably, the response is, "We tell them."
Read
the article
|
| Reality Bytes |
|
Note to Retail Consultants
A few months ago, researchers at Accenture asked 1,300 consumers what really ticked them off about their shopping experiences. The number one consumer annoyance: too little attention. Most of us probably could have guessed that was the pet peeve among consumers, but what's interesting is what ranked second.
The researchers found that too much attention was consumers' second most popular complaint. The challenge facing retailers is to find a balance between these two extremes. Perhaps, it's time for a change in the consumer service mindset, which often stresses cross-selling over helpful customer service.
US Employment Outlook
US companies plan to boost hiring and spending in the coming months as they gear up for accelerated growth, according to a survey by the National Association for Business Economics. The largest gains in employment are expected to be in the finance, insurance, and real estate industries.
In spite of an ongoing shortage of skilled labor, which can lead to increased salaries, only a small percentage of firms reported a planned price hike to offset the impact of higher labor and energy costs.
The Most Expensive Places to Live
Where are the highest-cost places to live in the world? US residents might think that either New York or San Francisco top the list. But, according to researchers at Mercer Human Resource Consulting, not a single US city is among the top ten most expensive places to live.
The top five cities in rank order are: Moscow, London, Seoul, Tokyo, and Hong Kong. Only two US cities appear among the top 50, New York City (15) and Los Angeles (42).
|
| Coming
Attractions |
|
"Whatever these creeps are called, many of them are clueless about their behavior. Even worse, some of them are proud of it."
Robert Sutton is an author and a Professor of Management Science and Engineering at Stanford University. His books include Weird Ideas That Work, Hard Facts, Dangerous Half-Truths & Total Nonsense, and The Knowing-Doing Gap.
His latest book is The No Asshole Rule: Building a Civilized Workplace and Surviving One That Isn't.
Join us next month as we ask Sutton why and how the jerks we all encounter in the workplace--bullies, tyrants, backstabbers, and egomaniacs--lower morale and productivity and ruin things for everyone.
The next issue of Management Consulting News will be published September 4, 2007.
|
