Shifting Client Demand and Expertise in Global Business Advisory Services
September 3, 2009
Faculty Lead: Elizabeth Thurston
Recently touted as the hot segment of the global consulting industry, with an estimated $85 billion in 2008 revenues and previously projected 8% growth rate, business advisory services (BAS) once benefited from clients’ diverse financial and business consulting needs related to the complexity of competing in global markets, opportunities in emerging economies, abundant private equity and M&A deals, expanding litigation activity, keener corporate focus on minimizing risk, and increasingly challenging regulatory and compliance issues. In 2009, the breadth of the global economic crisis across industries fueled a dramatic slowdown in overall consulting demand across most geographies, creating what Kennedy Information notes as the most challenging business environment that consulting has witnessed in the last 20-30 years. Not surprisingly, most consulting segments, including strategy, operations, and IT, contracted substantially in 2009. Yet, BAS, although no longer the significant industry driver that it was, still remains at the forefront of the consulting marketplace, with a revised 1% growth rate.
Clint Bowes (McIntire '84), Audit Partner, Ernst & Young LLP
Bryan Eshelman (Engineering '93), Managing Director, AlixPartners
Jeff Green (McIntire '88), Vice President, Navigant Consulting Inc.
Jimmy Henry (McIntire '73), Senior Vice President, Booz Allen Hamilton