Consultants Diversifying to Take Advantage of Developing Markets and to Survive the Downturn

Clearly after what has happened during the last years with ERP accounting system a global economic downturn, with higher unemployment levels in developed countries such as Spain and the US, recent government bonds defaults and risky economies such as Ireland and Greece, not only financial banks, but governments, and companies in general have to change the way they have been conducting themselves and doing business with others. They have to reduce costs by improving its infrastructure, employing tools like hedging, outsourcing services and constantly shaping new strategies to achieve desire productivity. Specifically, consulting has become a tool for not only multinational corporations but also for smaller businesses to find different ways to improve or change the way companies operate and behave. Moreover, as technology moves on very fast and new markets are being developed, it is not a simple task for a company who wants to expand, perhaps endure in these “survival of the fittest” environment. Indeed, consulting provides knowledge to businesses in order to take the right decisions at the right time.

Manufacturers and service providers need to become “very good” at what they do to be successful. They need to be different to attain a competitive advantage over their competitors, and the easiest way to achieve that is by getting the right information of consumers and targets. It could get very hard for companies to identify these needs and wants, companies would need to invest time and money in something that they do not suppose to be doing, instead they should be focusing on the product or service itself. This is when a consultant is handy, since he will be the one looking at new trends and forecasts, advising the firm where, how and when to go. Now, it is not as easy as it seems since as this manufacturers and other companies work hard to achieve this competitive advantage over the others, consultants also are on the same page. Primarily, they need to diversify its range of services. Consultants must go along with engineers to know what is going on with information technology systems; they need to find the easiest, most effective and price convenient solutions for the firms and companies they are working for. Again, this idea of diversification not only refers to be different by performing the best way, but also by offering “combos” or service packages.

So far this article has been written from a developed world perspective. Now let’s switch it around, and take a perspective from the developing world side, like if the firms and companies were based in countries such as China and Brazil. Clearly, consultants could give those critical tools and wise advice too. People living in those countries have experienced dramatic changes in the last two decades and as their population grows as their economies do too, it has become challenging for these governments and firms to allocate and use resources in an effective way. This is a problem that has also to deal with lack of infrastructure and technology when they did not have the money and knowledge to build it, but now that not only the money exists and the technology is there to be applied, governments and firms have to take the right decisions to exploit the boom they are experiencing now. This is the time when firms would like to get the services from consultants to pick the best workforce and to develop the most competitive software to deal not only locally but also to be at the same level, or better than other competitors in order to conduct business globally with developed countries which are in need of trade and economic stimulus.

Certainly, the world presents economic struggle and downturn for the most part, and the governments and firms have to find ways to overcome these issues by performing the right way at the right time; there are consultants who could give them a hand since they are in charge of providing useful information and knowledge to these other parties in order to build and execute the right strategies and plans. However, consultants are part of the same world and they have to find their own ways to achieve competitive advantage over competitors to survive as well. Indeed, there is a lot of work to be done, markets to create and services to improve, but with the hand of consultants, firms and


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