Regenerate wrote:
bigge2win wrote:
Regenerate wrote:
In crazy times, companies will need advice. The more I learn about Ross, the more impressed I am.
It’s quite the opposite when there are crazy times. Companies slash costs, meaning less need for consulting services. It doesn’t take consultants to tell companies where to cut. Plus, they hire people to do that internally, who at times have to re-do work that consultants don’t because their assumptions are flawed and processes for their analyses aren’t automated or intuitive. Hence a lot of consolidation in the industry in recent years. The tech industry rarely even uses consulting firms for any work, except to maybe farm off some implementation work.
I'm not asking you to agree with me ... nor acknowledge I said nothing about the amount of advice givers companies would hire it tough times ... but the fact remains, good advisory services are always needed.
Who do you think works for bankruptcy court judges?
Workout and turnaround specialists. Those folks are essentially hybrid consultants / IBers / operators.
So I stand by my earlier comment ... Companies always need advice. My opinion is rooted in 25 years of experience of giving it.
Wisdom doesn't have an expiration date.
Quote:
Nonetheless, Ross is still better for consulting and tech together. The Michigan network and brand will go a long way when you look for tech companies regardless of whether you’re doing on- or off-campus recruiting.
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IMO, Ross is probably better at developing the mindset of a wise advice giver than Tepper. That's all I was trying to communicate earlier.
Yeah, the bankruptcy part is valid, although I wonder how much of that work goes to MBB vs. Alix or a bankruptcy specialist.
Maybe you've worked in the industry for 25 years, but you can't deny that consulting has changed quite a bit in the past decade or so. Fortune 500-1000 companies are hiring strategists in house, so they don't need as much or any of the pure strategy work that firms were valued for 15-20 years ago. Hence, why McKinsey and all the other strategy shops following suit to build up practices to do implementation projects. It's hard to sell just strategy anymore, since companies need more than just fancy decks and endless analysis that they can do in house, plus the execution. Sure, companies could use advice in different ways, but you also can't deny that consulting services aren't needed as much during bad times. Companies are trimming the fat and any discretionary spending, which includes employees, enterprise software, and consulting services. Otherwise, hiring for consulting firms wouldn't decrease or be stagnant.