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Consulting Continuum

The Consulting Continuum 2013 witnessed a series of lectures and panel discussions centered on the theme:

  “Unconventional Strategies in a Converging World"

Following luminaries participated for delivering lectures at Consulting Continuum 2013 on March 17th, 2013 at SJMSOM, IIT Bombay:

In a shrinking world where global businesses have blurred geographical boundaries and embraced a multi-cultural business environment, processes and practices need to be revisited to cater to this new challenge. The organizations that can achieve such a competitive advantage in this new shrinking world are the ones that will emerge as the new global players. It is a combination of the best of the existing strategies, with a blend of unconventional practices that will make organizations stand out and prosper in the current business climate.

Below were the sub-themes for the seminars

Government reforms and role of consulting industry

The Indian government has taken some bold steps in recent times with respect to policy development – such as power sector reforms in all the three sectors viz. generation, transmission and distribution, public-private-partnerships in health and education etc. The consulting industry has played a major role in devising strategy for government action plan towards growth.

The new age consultants: Opportunities, Challenges, Triumphs

There has been a sea change in the way companies value consulting. This has led to an explosion in the opportunities that are now available to consultants. The traditional avenues that were earlier the preserve of company executives have now been thrown open to consultants to leverage their cross functional expertise. With the new opportunities consultants have to face novel challenges too.

Social Media - A New Perspective

Social media provides virtually instant access to information throughout the world, thus giving businesses the ability to share news about their products and services with people that were once out of reach. Not very long ago, businesses were limited to connections with contacts within their neighbourhood or at best, their country. The door is now open to share your business with the world. All SMEs and Large business are getting aboard the Social Media bandwagon

VUCA world: A Threat or an Opportunity

Natural disasters, technological disruptions, transitory advantages, fractured markets, multifarious competitors, increasingly demanding customers and fickle consumers: Thanks to the US military, we have a useful descriptor for the conditions and environment these drivers create; „VUCA‟ – volatility, uncertainty, complexity and ambiguity, a combination of the magnitude and speed of change, the lack of predictability and prospect of surprise, the multitude of forces and confounding issues, and the lack of „one right answer‟ or single course of action.

Insight is important but it’s foresight that really counts

Consultants of today base their suggestions on gathered information. This makes it imperative for them to provide an interpretation of numbers and turn the Information into Insight.
However, in an increasingly fast-paced society of today, our insights have a shorter and shorter shelf-life. What was a brilliant thought only a couple of months back could already be superseded by some innovation from a faster-off-the-mark competitor. Thus, it is no longer enough for consultants of today to provide clients with brilliant insights. We need to be thinking more about how we can provide them with brilliant foresight.

Implementing the Blue Ocean strategy without Boiling the Ocean

The highly competitive business world today warrants a need to look at other avenues to gain profits. It is the ideal situation for a firm to look for an innovation that nobody else is near and turn it into a highly lucrative business proposition and execution.

Recognizing the untapped market is the key, more so because the consumer may not always be aware of their own needs. These needs must be engineered and created through careful strategy and marketing. The question then arises how far a company must go in its aim. When should it realize it is boiling the ocean looking for its own blue ocean strategy? Boiling the ocean refers to the act of aiming for something too ambitious which is nearly impossible to achieve.

Tradeoffs: Global standardization and Local customization

To be able to compete successfully against intense global competition, companies are permanently in the pursuit of the best international business strategy. In the search of this perfect business strategy, a debate revolves around the dilemma of global vis-a-vis local strategy, that is, the trade-off between global standardization and local customization.
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