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EGON ZEHNDER
Need for a
Strategic Review Zehnder’s
Retirement
I.P.O’s by
Competitors
Internet
Competition
STRATEGY IS NOT RELEVANT TO A PROFESSIONAL SERVICES FIRM
- DAN MEILAND
DO YOU AGREE?
STRATEGY AND POSITIONING IN A PROFESSIONAL SERVICES FIRM
PSF’s strategy must have resonance for all three constituencies – clients, owners,
and professionals.
The PSF’s overarching strategy must be consistent with its positioning in the various
service markets.
Corporate Strategy determines how the practices interact with each other.
WHY STRATEGY IS DIFFERENT IN A PROFESSIONAL SERVICES FIRM
Sources of Competitive Advantage are different for PSFs
Scale economies rarely exist (but sometimes they do – ex: Big Four audit firms)
Switching costs are rarely associated with physical investment, but can be high in
Psychological terms
Market share does not automatically translate into recognition as a premier service provider
PSFs often do not often differentiate themselves on the basis of strategy, but on the
quality of execution.
A PSF must have clear and consistent answers to the following four questions:
Target Clients: Who to serve?
Service Delivery Proposition: What to offer?
Service Delivery Process: How to serve?
Service Professionals: Who should serve?
VALUE CHAIN FOR TALENT ACQUISITION