| In the backdrop of recent economic crisis that has | | | | long way is reshaping this landscape once again. |
| enveloped the globe, one of the key questions doing | | | | Risk assessment, identification and mitigation have for |
| the rounds in every circle is - "when would things be | | | | sometime been high on the priority list of most |
| back to happy times". I would certainly not hazard a | | | | organizations worldwide. Increase in number of |
| guess in an attempt to answer the question; | | | | compliance requirements ('SOX', 'IFRS', 'BASEL2', |
| however, I would like to share my views on the | | | | 'SIFY', etc.) combined with service offerings in this |
| probable impact of this deep crisis on the | | | | space by consulting organizations globally; evidences |
| management/business consulting industry around the | | | | the high priority placed by organizations on risk |
| globe. | | | | assessment, identification and mitigation solutions. |
| I would attempt to explain the possible outcome at | | | | When the management / business consulting industry |
| two levels - short term and long term. | | | | regains full momentum, demand for delivering |
| In the short term there could be some slowdown of | | | | consulting assignments that include and address risk |
| consulting opportunities in specific industry segments, | | | | management solutions / strategies could be much |
| namely those industry segments that are more | | | | higher. The appetite for such solutions / strategies |
| adversely impacted by the downturn. | | | | would also surface in system implementation services |
| However, in my view the bigger impact could be on | | | | offered by management / business consulting |
| the long term landscape of management / business | | | | industry. This could imply consulting business being |
| consulting services. This landscape had been redefined | | | | skewed in favour of those who provide these |
| globally in the past by two major landmarks - IT | | | | services as an integrated offering. Possibly, churning |
| majors entering the consulting services space through | | | | out system implementations as a commodity would |
| bought-outs, and reorientation of Big Five consulting | | | | become a thing of the past. |
| business. In my view the current crisis could also go a | | | | |