Built on last year’s success, on 9 June Instituto de Empresa hosted the second edition of the Strategy Consulting Day: a major opportunity for students and alumni to meet and discuss emerging industry trends and up-to-date, real-life consultancy issues with top executives from AT Kearney, Booz Allen Hamilton, Mercer Management Consulting and Monitor Group.
Over 150 participants – Instituto de Empresa students, alumni and faculty members- joined the different workshops held by participating firms and followed subsequent panel discussions.
Meinrad Spenger (IMBA99), currently working for McKinsey & Company, conducted the workshop “Anything but Chardonnay!” – imitation and standardization as strategies for emerging product markets.
The theme “Challenges for Global Players in Emerging Markets” stimulated active debate, with students and alumni sharing their thoughts on and insights into the consulting field.
The event was organized by Chandran Fernando, Dirk Alois Peter Hickert, Jorge Fernandes, María Mercé Serra Pujol, Sara Caicedo, Stephanie Krahenmann and Udo Franz La Roche, all IMBA 2005 students, with the support and help of the Careers Management Centre and with the sponsorship of the management consulting firms invited to participate.
Santiago Íñiguez, Dean of Instituto de Empresa, opened the event and presented the speakers, all from their respective Madrid offices: Dirck Forquignon, Principal at AT Kearny, David Suárez, Principal at Booz Allen Hamilton, Jordi Duñach, Managing Director of Mercer Management Consulting, and Carlos Araoz, Group Leader of Monitor Group. David Allen, Director of the IE Strategy Department, introduced and moderated the final panel discussion.
All speakers highlighted that the consulting industry is changing rapidly as firms seek measurable value-creation from projects. Clients want implementation of strategies and a closer partnership in which rewards and risks are shared with the consulting firm. After a period of heady growth, the internet crash and lower corporate profits have led to consolidation and a movement toward fewer generalists and more specialists. In short, some of the glamour has gone, but consulting firms are now doing more for their clients.