MARCH 2013 Sydenham Institute of Management Studies, Research and Entrepreneurship Education
B E A C O N :
A MONTHLY NEWSLETTER FROM SIMCON - SIMSREE CONSULTING CLUB 1.ARTICLE: ROLE OF CONSULTING IN CONSTRUCTION INDUSTRY
The Construction Industry needs out-of-the-box thinking to help with strategic planning and financial issues. Construction services team of various consulting firms bring entrepreneurial enthusiasm and creativity to construction projects. Their philosophy of service involves investing knowledge and experience in client’s success. Clients are in commercial construction, residential construction, and heavy highway construction. They are general contractors, sub-contractors, and industry suppliers. Consulting firms conduct risk assessments of projects aimed at identifying risk areas which can be managed through project strategies and contract conditions. The risk assessment process is also aimed at identifying the risks which a client is prepared to accept (“risk appetite”).
INDEX ROLE OF CONSULTING IN CONSTRUCTION COMPANY OVERVIEW: ARTHUR D. LITTLE CONSULTING WORLD NEWS MARCH QUIZ
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These risk assessments form the basis of the recommendations in respect of the project structure and the best fit contract conditions to implement such project structure. They also review 2 contract conditions, drafted by others, at enquiry stage to establish the risks inherent in such contract conditions. 3
Consulting firms assist clients implementing recommended project strategies such as: 1.Engineering, Procurement and Construction Management (“EPCM”) 4 2.Agreed Target Cost 3.Build-Operate-Transfer 4.Public Private Partnerships 5.Partnering and alliances Each project strategy has its unique benefits and risks. Firms assist clients by Identifying such benefits and risks; Providing strategies to ensure that such risks are properly managed so that benefits can be maximized; and Drafting and negotiating contracts on behalf of clients to ensure that the contractual framework to implement recommended project strategy is maintained. Firms assist clients with the drafting of all capital procurement and related contract documentation. Such contract drafting service consists of: 1. Recommending standard form contracts. 2. Amending standard form contracts to complement a client’s risk appetite. 3. Drafting tailor made contract documentation. Contract drafting service also entails reviewing procurement documentation used by their clients on a regular basis. 4. Project / Commercial Management: Firms provide a project / commercial management service which is aimed at ensuring compliance with recommended project strategy & contract conditions. 5. Project Launch Workshops: Firms facilitate workshops with the contract management staff, conduct risk assessments, devises mitigation & management strategies to counter the risks. 6. Project Management Audits: Firms audit contracts to ensure implementation and management strategies have been used and are successful, alternatively establish why things have gone wrong and present workshops to devise and promote counter strategies to avoid problems in the future.
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KNOW YOUR COMPANY
A RT H U R D. Arthur D. Little Parent Company
Arthur D. Little
General Management Consultancy
Linking Strategy, Technology and Innovation.
More stress on innovation, strategy & technology. STP Companies and industries seeking professional
All industries, corporate, business groups
It is renowned international management consulting firm headquartered in Boston, Massachusetts, United States, formally incorporated by that name in 1909 by Arthur Dehon Little, an MIT chemist who had discovered acetate. Arthur D. Little pioneered the concept of contracted professional services. The company played key roles in development of business strategy, operations research, word processor, first synthetic penicillin, LexisNexis, and NASDAQ. Profile: Headquarters: Boston, MA Founded: 1909 Offices: 27 situated across 21 countries Global presence: Americas, Asia & Middle East, Western Europe Services offered : ADL in consulting news:
One of oldest general management consultancies Positioning
in the world. SWOT Analysis 1. Arthur D. Little pioneered the concept of the contracted professional services 2. They have 35 offices in 20 countries. 3. The company was started in 1886 and formally incorporated in 1909. One of oldest consultancies in the world. 4. They publish a bi-annual thought leadership collection called PRISM
5. Small yet skilled employee base 1. They have only about 1000 employees across world, hence service reach is limited 2. They have lesser brand recall vis-à-vis their
competitors. 1. They have opportunity in growing economies in the world. 2. They need to leverage their first consultancy position as a marketing strategy 3. Increase employee base as for all consulting
companies, employees are the biggest asset. 1. The ongoing recession could pose a threat to the business of Arthur D. Little 2. Their limited presence vis-à-vis experience can
cause a threat to the firm’s business. Competition A.T. Kearney, Bain and Company , Booz and
Alliance with Solidiance to strengthen its business in Asia: Global management consulting firm Arthur D. Little signed a comprehensive partnership agreement with Solidiance, a Singapore-based B2B growth strategy advisory firm operating in several Asian countries, with the aim of jointly pursuing business development in the region. Alliance partner, Solidiance, has been a strong promoter of “growth and innovation” in China, SE Asia, and India since its founding in 2007. Solidiance has achieved steady growth by providing a variety of growth advisory services grounded in first-hand local marketplace knowledge on behalf of a wide range of Fortune 1000 client companies in various industries and fields, spanning from B2B market research to planning market entry and growth strategy, etc. Solidiance’s co-Founder and Managing Partner Damien Duhamel commented that: "We are absolutely delighted to partner with Arthur D. Little, the oldest yet most innovative Management Consulting firm in the world. Our people-focus and customercentric mindsets are very much alike. As such, we believe the combination of our mutual strengths will offer clients better inroads into the growing emerging markets of Asia where Solidiance has a very strong regional position. Sources: http://www.adlittle.com/ Also Link to case studies: http://www.adlittle.com/strategy-case-studies.html?&no_cache=1
Consulting World News
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KPMG: China, Brazil and Singapore Lead Consumption of Digital Media As a part of its International Digital Debate 2013, KPMG recently conducted a survey on digital media consumption. As per this survey, urban consumers in China, Brazil and Singapore are proving to be the world‟s most voracious users of digital media, powered by the rapid uptake of smartphones and tablets. This online global survey covered more than 9,000 consumers across North America (US, Canada), Europe (Germany, Spain, United Kingdom), Asia Pacific (Australia, metropolitan China and Singapore), and Latin America (metropolitan Brazil). As per the survey, Seventy-seven per cent of Chinese consumers and 62 per cent of Brazilian consumers are happy to receive online ads in return for lower-priced or free services. Metropolitan China has an estimated population of 426 million and metropolitan Brazil 50 million. Survey also suggests integration of content, devices and distribution channels to capitalise on information needs of these consumers. Ernst & Young: One of the best places to work Ernst & Young has been recognised as the one of the UK‟s leading employers in The Sunday Times „25 Best Big Companies to Work For‟ index. Ernst & Young was praised by the judges for its approach to work-life balance. The firm has long been a supporter of flexible working, but is striving to make it „business as normal‟ rather than the exception, and accessible to all. The firm‟s UK employees are encouraged to choose how, when, and where they work. The professional services firm, which has over 10,500 employees in the UK and is one of the country‟s biggest graduate employers, achieved a ranking of fourteenth place, ahead of the likes of Accenture, Deloitte and KPMG. PwC: Shutdowns climb tenfold in a year Multiple retailers closures reach 20 stores a day on average across Great Britain‟s town centres in 2012, says PwC and Local Data Company analysis. The PwC data also revealed that across multiple retailers in 500 town centres card, computer games, clothes, banks, health foods, jewellers, travel agents, recruitment agencies and sports goods shops have been amongst the hardest hit in 2012. Pound shops, pawnbrokers, charity shops, cheque cashing (payday loans), betting shops, supermarkets and coffee shops bucked the trend showing growth during the year. Deloitte: Center for the Global Food Value Chain Debuts The Deloitte Center for the Global Food Value Chain, a source of insights and analysis designed to help companies in the food and beverage business understand the changing regulatory environment, reduce risk and address supply chain issues, debuted recently. The Center also addresses broad and varied food safety and quality issues, including changing regulations besides FSMA, market trends, supply chain risk, operational impacts, and use of business analytics to help improve performance. The Deloitte Center for Global Food Value Chain leverages Deloitte‟s experienced industry and regulatory business advisors and former executives from government agencies. This Center is designed to help companies understand and address quality and safety issues, changing regulations, market trends, supply chain risk, operational impacts, and use of business analytics to improve performance. Deloitte‟s goal is to establish a resource for companies to share ideas and gain valuable insights that will help advance food safety and quality. Accenture: Among Canada’s Best Diversity Employers for 2013 Accenture has been named to Canada‟s Best Diversity Employers list, an annual competition to recognize Canadian employers with exceptional workplace diversity and inclusivity programs. Several of Accenture‟s initiatives contributed to its inclusion on the ranking, including: Women‟s platform: Through the “Defining success. Your way.” initiative, Accenture is committed to helping its more than 90,000 female employees worldwide define and develop their own paths to success. Persons with Disabilities (PwD): A global employee resource group focuses on efforts to help PwD across Accenture, including assistive technology, workplace accommodations, HR policies, training and development, geographic networking and recruiting efforts. Lesbian/Gay/Bisexual & Transgender (LGBT): Accenture‟s LGBT program include communications, education and development, events, collaboration, policies, procedures and regional networks
Sources: www.ey.com , newsroom.accenture.com , www.big4.com , www.ukmediacentre.pwc.com, www.kpmg.com/
BELOW ARE ANSWERS TO VOL-4. FEB_2013
QUIZZ TIME !!
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1. Mont Blanc has designed special edition pens in their honor 2. Mike Lazaridis of Research In Motion which makes the Blackberry 3. Chitra Ramakrishna , she will assume the role of NSE (national stock exchange) CEO from April 1 , 2013 , she will be 1st woman to assume this role 4. Boroline 5. Jeffery Immelt of GE
Mail Answers To: email@example.com with Subject= simcon_quiz_march_2013 First Received All Correct Answers will be published in next month’s Edition.
QUIZZ OF MARCH 2013 1. When this person was the warden of the royal mint in the late 1690s one in four coins was fake since their bits were being clipped of gold coins. In order to curb this, he designed and installed new minting machines that were 8 times faster and the produced coins that were hard to forge or clip. Name this person. 2. This brand was first manufactured as an insecticide in the 1870s by a German immigrant to Australia. It is said that he came up with the name for this brand with a little help from his French wife. It is a combination of a French word & German word. It also has a lovely rogue mascot. Name it. 3. Identify the gentleman in the pic 4. This brand was introduced to the world in 1947 by an Italian immigrant in the US. India will be the first market where a powdered variant of this brand is being introduced. Name it. 5. Connect the Octopus, the Murex Snail, Cow‟s urine, the Lac insect and Red Onions with fashion industry. What do you get?
To make this feature a successful effort, we seek continued
involvement and contribution from our readers, that is YOU. We invite articles and trivia on themes related to consulting. Be it industry news, consulting trends, a joke, a cartoon or feedback, we are eager to hear from you. So go ahead, do your research, pen down your thoughts and mail your entries to firstname.lastname@example.org.
Best Regards, SIMCON –SIMSREE CONSULTING CLUB SIMSREE, B-ROAD CHURCHGATE 400 020, INDIA.
Published on May 1, 2013