management consulting 2.0

Management Consulting 2.0

How Web 2.0 is Changing Management Consulting

To Create Game-Changing Strategies

Traditional Management Consultants

Work with Fortune 500 Clients

Top 10 Management

Consulting Firms in 2008 by Vault.com

The Management Consultant EthosHigh Priced

Revenues:$308,000 per

Employee

Ranked #69 in Forbes’ 2007 Largest Private

Companies

The Management Consultant Ethos

“Ivory Tower”

Research and Recommend

The Definitive MBA Profession

20% of MBA Graduates Want to Work at Consulting Firms

Harvard Business School

Strategic Issues Consultants Tackle

Diverse Experience is Prized in Consultants

GlobalizationIT SolutionsOperationsM&A IntegrationOrganizational StructureSales & MarketingCorporate FinanceSarbanes Oxley Compliance

Note: Traditional Consulting Focuses on

Corporate-wide Solutions to Maximize

Revenue

But Chess Pieces are So Cliché

Management Consultants are Used to Defining Themselves

as Kings of Strategy

Problems with Consulting Today

“Ivory Tower” Approach is Inefficient

The Internet has Opened up

Research that was once the

Domain of Consulting Firms

Knowledge Redundancy

Consultant Teams are Sent On-Site to Learn and Analyze the Business

Learning Curve Costs

Consulting Still not in Real Time

“Research and Recommend” is not Interactive

“We spent four months developing this solution

for your company”

Web 2.0 Changes ConsultingThe Internet

Creates a Real Time Consulting

ParadigmHere are the Four New Rules of Consulting 2.0

1. Leverage Existing KnowledgeThe Internet Facilitates Business Intelligence Consulting 1.0 Produced

Polished 200-page Reports to Justify Fees

Pre-Internet, Consultants were Charged with

Intelligence Discovery

1. Leverage Existing KnowledgeConsulting 2.0 does not Regurgitate Intelligence Found on the Internet

Consultants Should Add Value to Management Domain Knowledge

Don’t Reinvent the Wheel

How Consultants Add Value to IntelligenceLeverage the Social Media

Seek Feedback on New Product Development

Create Buzz Marketing to Beat the Competition

and Blogs

2. Interactive EngagementThe Internet is an Organic Test Lab

Consultants don’t Need to Hole Up in their Ivory Tower

2. Interactive EngagementCollaborate with Management in

Real Time

Leverage the Social Media to Beta Test

and Ask for Solutions

3. Be Open to the Discovery ProcessThe Social Media

Spawns EpiphaniesReal Time

Conversations of Ideas

Can Move the Original Plan in an Entirely

New Direction

Apply Zen

4. Level the Consultant Client Relationship

Don’t Dictate

Collaborate

4. Level the Consultant Client Relationship

Management and Consultant Must Resolve to Execute Iteratively

So Consulting doesn’t become a Navel Gazing Exercise

Why Work with Consultant 2.0?Certain Industries are Becoming

Reliant on Internet Marketing

Real EstateTechnologyMedia and PublishingRetailConsumer GoodsFinancial ServicesAdvertising

Industries that Must Reach the

Consumer Online

Often Don’t have Bandwidth or Resources to

Understand Web 2.0

Why Work with Consultant 2.0?

Innovative Viral Marketing

Strategic Partnering

Product Development

Social Media Strategy

Business Modeling

Consultant 2.0 Adds Value in Context with Web 2.0

Management Consultant 2.0 ProfileSocial Media

PresenceOnline Authority is

Requisite to Mobilize Social Media as Intelligence Tool

Management Consultant 2.0 ProfileProven, Diverse

Management ExperienceMBAs have Value

Senior Management BackgroundManagement ConsultingStartup Mentality Sales & MarketingProduct ManagementCorporate FinanceLegal Expertise

Note: Consulting 2.0 Focuses on Immediate, Executable Solutions

Consulting 2.0 - the New Paradigm

1. Leverages Existing Management Knowledge

2. Develops an Interactive Engagement

3. Values Discovery in the Consulting Process

4. Collaborative, not Dictatorial

Making Innovative Strategies Accessible to All Companies Efficiently and Economically

Contact

Kevin Boer650.387.2860kevin@DomusConsultingGroup.com

Patrick Kitano415.320.2844

pat@DomusConsultingGroup.com

Image Attributions

Chess piecesJohn HousemanHarvard Business SchoolStack of reportsSlide 10Slide 11Slide 13People iconsIvory TowerDonald TrumpSlide 18 - CollaborateRunning business people