Intro. to Our Culture and Values

Introduction to Consulting Intro. to Our Culture and Values

4 comments

This detailed podcast introduces Firmsconsulting and our distinctive heritage which is best exemplified by these three quotes:

“Business properly conducted could be as high a calling as anything.” Marvin Bower

“If you are not willing to take pain to live by your principles, there is no point in having principles.” Marvin Bower

“Management consulting is no individual’s right as a career. It is the single greatest privilege of a business professional to earn the trust required to advise a client on his/her most pressing issues.” Michael Boricki

We insist the Firm be held to higher standards than the clients we serve at McKinsey & Company, Bain & Company and the Boston Consulting Group. We eschew advertising, participation in media endeavors or undertaking sponsorship to merely build our brand. Our focus on our clients’ best interests, we never disclose client identities, has resulted in 92% of our relationships developed via referrals from former and existing clients.

Learn about why we make these principled decisions and the impact we strive to achieve.

 

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4 responses to Intro. to Our Culture and Values

  1. Hi Hannah,

    All great case studies but do not get caught up in them. The only question you have to ask is, “What value do I want to create and can I do so for free?”

    There is no such thing as a free service. Someone is paying for it. Remember that. Even charities are asking citizens to pay via donations. Even NGO’s are being funded somehow. Someone is always paying.

    You have decided you will pay for this but there is no reason that should be the case.

    Hope that helps.

    Michael

  2. Hi Michael,

    Thanks for the advice, I never thought of that. I agree that in many instances the price does justify the value.

    Though I have 3 examples that make me feel concerned about “value = cost”:

    1. Fashion brands know that the higher the price tag the more desirable it will be. Since it’s actually the “status” that people are buying. So you end up paying $500 for a cotton T shirt.

    2. Some health services and treatments are ridiculously expensive. For example, Gilead recently introduces a new Hep C drug and they charge ~$84K for the treatment. I don’t know all the facts and I understand that they do have to make up for their investment. But the fact that many people can’t afford to pay to treat their illnesses makes me feel sad about our system.

    Many people then have to take medical vacations abroad for cheaper services elsewhere. One time my former dentist made a joke with his assistant that a patient went to another country and had bad dental work, and ended up paying more back in US to fix it.

    I don’t think it’s something to laugh about. They should empathize and do more to fix the issue that people can’t afford to do dental work in US.

    3. Many services (for example WhatsApp and Angry Bird) used to be free, then once it gets popular they start charging/charging more. I refused to pay for it even though it was only $1. (I like Craigslist that they never tried to make money).

    I don’t want to fall into that pit of making more money when the opportunity arises even when the price does not justify the value. I want to lead and manage companies in the future, and I know this will be a big issue when everyone else only cares about money. It’s easy to change the direction of a company, but can you change their values and ethics?

    In your Greg Smith’s podcast, you mentioned that if one truly loves a company, then one tries to fix it first. Can you fix a company when the top level is so unethical and you are the only ethical person? Should you just walk away (without public letter of course)?

    My site provides an online platform for connecting people so there will only be minimal maintenance!

    Thanks for the advice as always Michael,

    Best,

    Hannah

  3. Thanks Hannah,

    Please remember that being ethical does NOT mean you have to provide things for free. In fact providing a great service for a price below cost could be unethical since you are not teaching your clients to appreciate value.

    So, by all means charge for great work. Because great work costs money and if you have no money your quality will declien in the long term and that will hurt you readers even more.

    Hope that helps.

    Michael

  4. Hi Michael,

    This is another soul-searching podcast. Ethics is such an important topic but not many people discuss (and importantly, practice) it, so I really enjoy this topic (please keep doing more).

    You are right that it is VERY DIFFICULT to be ethical. I recently started a website that will greatly benefit the science community, and I have been thinking about what will be the right business model for it. But after this podcast I decided to keep it free to make it accessible to everyone, even though I will lose out on lots of money.

    It should be about the meaning and impact of your work and not about the money. Very tough but very important principle. Thank you.

    Best,

    Hannah

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