CONSULTANCY INDUSTRIES
Overview of Consultancy Industry
• The investment in core industrial sectors attracted various construction and engineering companies to explore the business opportunities and to contribute their expertise in these sectors.
• Over the years, as the Indian industry started maturing, specialist consulting advice was being sought by clients in India and this opened the opportunity for a number of specialist organizations to draw on their specialist knowledge base and resources to meet the demand for specialist consulting services.
CONSULTANCY
Consulting refers to the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the firms that specialize in this sort of consulting.
CONSULTANT
A consultant is a professional who provides expert advice in a particular area of expertise such as accountancy, the environment, technology, the law, human resources, marketing, medicine, finance, public affairs, communication, engineering or waste management.
Types of Consultancies
• Management consultancy
• Diversified consultancy
• Strategic consultancy
• Information Technology consultancy
• Industry specific consultancy
Size of the Industry
• India engages about 100,000 persons in about 5000 consulting firms.
• The current size of the consulting industry in India is about Rs. 10,000 crores and is expected to grow at approximately 25% in the next few years.
Recruitment Process
• Aptitude test
• Group Discussion
• Case analysis
• Psychometric test
• Interview process.
The Consultancies are mainly look for
• Self confidence
• Interpersonal & Communication skills
• Business awareness
• Ability to work in the fast paced environment
• Analytical & Quantitative thinking
• Self-motivation , Problem solving
• Decision-making skills
TATA CONSULTANCY SERVICES
• Type : Public
• Founded : 1968
• Headquarters : Mumbai , India
• Key people : Ratan Tata, Chairman of the Board,S.Ramadorai, CEO & MD
• Industry : Information Technology
• Revenue : US $04.43Billion
• Employees : ~1,00,000(November2008)
• Slogan : Beyond the obvious
Strengths of the Consultancy Industry
• The major strengths of Indian consulting organizations include
Ø Professional competence
Ø Low cost structure
Ø Diverse capabilities
Ø High adaptability and
Ø Quick learning capability of Indian
Weakness of the Consultancy Industry
• The major weaknesses of Indian consulting organizations,
Ø Low quality assurance
Ø Low local presence
Ø Low equity base
Ø Lack of market intelligence
Ø Low level of R&D
Challenges Ahead…
• Client Acquisition and Retention
• Retaining employees
• Quality and compliance issues
• Resource and Skill Gaps
• Funding
• Smaller Firms Plight
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