On May 8th, 2001 ,CEOs and Senior Executives from leading midwest companies came together with a mission to set strategic direction for the consulting industry. According to a recent survey by Kennedy Information Research Group, only 4% of companies surveyed claim to be very satisfied with their consulting experiences. Despite this track record, management consulting has continued to blossom into an $89 billion worldwide industry, setting low expectations as the norm in regards to client satisfaction and results.
The event was sponsored by Sears, Roebuck and Co, McDonald’s and the consulting clubs from the University of Chicago Graduate School of Business and Kellogg Management School . Dr. Jay Desai from the Institute of Global Competitiveness (IGC) conducted the session using his unique customer engagement methodology that guides participants through a collaborative prioritization process of 100’s of existing and new ideas. Among those in attendance were:
Our Strategy Session began with an open forum to discuss personal experiences and uncover the barriers to total satisfaction with consulting engagements. A summary of these ideas is listed below. The data indicate that obstacles to client satisfaction can be attributed to the mindset and actions of both the consulting firms as well as the client.
In step two of the Strategy Session, executives generated a list of high and average priority innovative ideas for “The Ultimate Consulting Experience”. There was general consensus around high priority Excitements (Wows!) and Unexpected Values (Nice to have). The executives as a group agreed that the these ideas would add great economic value to any consulting engagement. (Please call IGC to learn more)
As we progressed in the Strategy Session to identify top priorities, a theme developed that shifted many ideas from unexpected values (Nice to have) to customer expectations because of high level of dissatisfaction from most consulting engagements. These are things that you expect from your consulting engagements but generally are not getting.
The following is a complete list of these ideas:
While the validity of any conclusions drawn by this session will be verified with future sessions, we feel the executives uncovered a logical explanation for inadequate impact from the investment of $89 Billion in the consulting industry, and total client satisfaction of 5% from the consulting engagements. The validity of conclusions drawn from this session will be verified with future “Ultimate Consulting Experience” sessions.