Starting a strategy consulting firm (ex-McKinsey, BCG, Bain, Deloitte, etc.)

Starting a strategy consulting firm (ex-McKinsey, BCG, Bain, Deloitte, etc.) Hi everyone and welcome to another episode of the management consulting podcast series where we discuss the business of running a consulting firm. In today's episode I would like to talk about the route behind the creation of most boutique strategy consulting firms and offices of larger firms. For example, if KPMG wants to open an office in a new territory, it will bring in a consultant who has either worked at KPMG or a consultant with expertise in that local region from a rival firm. If you are launching your own business, the odds are very high that you have already worked at a Deloitte, a McKinsey, Accenture, or even at a tech firm. In fact, you bring in the skills of your prior firm into your new organization. Who usually establishes boutique strategy consulting firms and offices of larger strategy consulting firms A majority of strategy consulting firms and smaller offices are created by consultants who worked at larger firms and larger offices. One of the biggest challenges faced by such consultants is that they take an idea, concept, toolkit, framework, or some kind of intellectual property which is usually a very narrow…

What is scenario planning and how to use it

What is scenario planning and how to use it In today’s post we are going to talk about scenario planning, the last technical input that went into the visioning workshop /strategy workshop as part of the Corporate Strategy & Transformation study. We will discuss what is scenario planning, some reasons why the scenario planning tool is insufficient to make decisions and steps in scenario planning. We will also offer an example of how to use this tool in visioning workshops with clients. What is scenario planning Before we discuss how to conduct scenario planning let's look at what is scenario planning. So what is scenario planning? Scenario planning is a planning tool used to make flexible long-term plans to deal with major, uncertain shifts in the organization’s environment. It is also a tool that allows companies to develop a resilient strategy or test the flexibility of the existing company strategy against various possible future alternatives. In other words, scenario planning is a structured way for an organization to identify and gain a deeper understanding of the underlying major drivers of change, think about how those potential changes may impact an organization, determine what is required for the organization to succeed if potential changes occur and develop…