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5/6/2015

How are McKinsey, BCG, Bain, AT Kearney and the likes playing the game in India - Page 2 - timesofindia-economictimes
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HowareMcKinsey,BCG,Bain,AT
Kearneyandthelikesplayingthe
gameinIndia

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VinodMahanta,ETBureau Apr2,2013,07.09AMIST

Tags: YES
IBM

| Universe | Thermax | TheGame | Squeeze | privateequity | missing | KPMG |


| HimadriChemicals | GodrejProperties | Godrej | GautamAdani | finance |
| Britannia | Berger | ashish | AdiGodrej

WallStreet

HindustanMotors

economy

Deloitte

Firmsaregettingmoretractiondespitetheongoingeconomicslowdown.Butthenatureofgrowthis
changing.Overhalfofallassignmentsinthelast45yearshavecomefromnewerclientslikefamilyowned
midcaps,privateequityandprivateequityownedcompanies,infrastructureprojects,publicsector(excluding
banks),andstategovernments.
"Themidcapcompaniesareveryloyal,justthatgettinginistough,"saysSuvojoySengupta,CEO,Boozand
Co."Theywillsqueezeyoubuttheypresentagoodopportunity."Evenastheclientmixischanging,the
natureofworkisevolving.TakeThermax,forexample.ThePunebasedcompanyhiredBCGin2000fora
portfolioanalysis:thefirmwasintomultiplebusinesseslikefinanceandpaintsandwantedtofocusonafew.
In2003,thecompanyhiredMcKinseyforhelponhowtogrowthecompanybydesign.

Thermax
BSE

NSE

979.60

978.40

0.46%4.60

0.16%1.65

Vol:356sharestraded

Vol:2069sharestraded

Prices | Financials | CompanyInfo | Reports

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Andnow,ThermaxisworkingwithAccentureonbusinessprocessimprovementtobegloballycompetitive.
"Earlierassignmentswereatcompanylevel.Nowwearefocusedonmakingindividualbusinessesglobally
competitive,"explainsMSUnnikrishnan,MD,Thermax."Eachtimewehavedrilleddownalevel."Goneare
thetimeswhenthepromotersandCEOswantedreportsorideasorportfolioanalysisnowtheywanton
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efficientsupplychainmanagement.
Infact,purestrategykindofprojectswouldadduptoonly10%to15%ofthehighvalueconsultingmarket.
Clientswantconsultantstogettheirhandsdirtynotjustgivethemastudy.TakeAnuragChaudhary,CEOof
KolkatabasedHimadriChemicals."Thefirsttime,Ihiredaconsultingfirmtodoadiagnosticandthe
implementationwastobedonebyus.Intheenditbecameabigfatbookthatwaslyinginacorner!Nowwe
haveateamthatworkswiththeconsultantsandthereisconstantmonitoringoftheprogress,"hesays.
"Premiumisnowonoutcomes.Fifteenyearsago,thepremiumwasonideas,"addsSenguptaofBoozand
Co.Clientswhohaveworkedwithconsultantsovertheyearshavelearnttoextractbestvalue.TheGodrej
Grouphasbeenoneofthemostprolificbuyersofconsultingservices.Mostrecently,McKinseyhelpedthe
companywithintegrationofGCPLwithGodrejSaraLee,BainworkedwithGodrejProperties,andBCG
consultedforGodrejandBoyce."Eachtimewehaveusedtheconsultants,wehaveusedthemforaspecific
reason,"saysAdiGodrej,Chairman,GodrejGroup.
"Ineachcase,wehavelookedforspecialisedknowledgefromthefirmoraparticularpartner.Andrightfrom
thestart,weareclearaboutourexpectationsanddeliverablesfromthem,andyes,wehavemanagedto
extractvalueoutofourengagements,"headds.GodrejrecentlyelevatedexBainpartnerVivekGambhiras
CEOofGCPL.Moreover,rarelycanconsultantsquicklyexecuteaprojectandscootcompaniesnowwant
consultantstoalsohelpthemembedthecapabilitiesintheirorganisations.
"The90swereaboutideasandinsights.Thelastdecadewasaboutinsightsandimplementation.This
decadewillbeaboutcapabilitybuilding,"saysKakaofMckinsey.Forexample,Thermaxmadesurethe
companybenefittedlongtermfromeachconsultingassignmentwithapollinationmethod.Soforatypical
project,thefirstthreemonthswasadiagnosticstudy,inthenextsixmonths,consultantsledthe
implementation,andduringthelastphase,companytalentstartedreplacingtheconsultants."Thishas

http://articles.economictimes.indiatimes.com/2013-04-02/news/38218047_1_consulting-boom-firms-high-value-consulting/2

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5/6/2015

How are McKinsey, BCG, Bain, AT Kearney and the likes playing the game in India - Page 2 - timesofindia-economictimes
ensuredcontinuityandenablement,"saysUnnikrishnanofThermax.

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Smarterclientsarenowdemandingmore.Earlierafirm'snamewouldbeenoughtogetprojectsnow
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OneYearofModiSarkar
personally?'isnowafrequentquestion.WhenHimadriChemicalsaskedMcKinsey,BainandBooztopitch
forablueprintingexerciseafewmonthsago,Chaudharywascrystalclearabouthisrequirements.

"Apartfromexperience,themostimportantcriterionwas,howmuchtimewillthepartnerbeabletogiveus.I
needtotalcommitmentfromthepartner."And,asacorollary,partnersnowhavetosweatharder."Whatwe
giveinaproposaltoday,usedtobetheendofastrategyreport10yearsago,"saysJanmejayaSinha,Asia
PacificheadofBCG.
Companiesarealsobecomingmoreawareofthedifferentiationbetweenfirms.Forstrategyorportfoliokindof
worktheymightpreferaMcKinseyorBCG,thePEfirmsmightchooseBainforstrategicdiligence,ATKearney
mightgetaheadsupforsupplychainandoperationalkindofwork,andaBigFourmightgetpreferencefor
salesdistributionreorganisation.

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5/6/2015

How are McKinsey, BCG, Bain, AT Kearney and the likes playing the game in India - Page 2 - timesofindia-economictimes
Readers'opinions(39)
Sortby: Newest | Oldest
zeyaalam(Varanasi)
10Apr,201306:56PM
Andtheyrecruitthebesttalentsavailableandmakethemworktogetherandgrowexponentially.Indiancompanies
musttakealeafortwofromthesecompanies.
Gaurav(Pune)
09Apr,201311:59AM
Consultingindustryisboundtogrowaseconomygrows.Thequestioniswhetherthevalueadditionisofgood
qualityornot?Theconsultantsfrompremieragenciesaregoodatsomepartofwork.Howevernowadaysmostof
thesocalledconsultantsdonothavedomainknowledgeandlackcommunicationskills.
COLRANBIRLAMBAlamba(PTA)
05Apr,201311:30AM
HUGEMARKETBESTPERFORMERWILLWIN
RAJJAIN(Fbd)
04Apr,201306:20PM
Howtheygivesuchhugesalariesisamystry.
Jag(Delhi)
02Apr,201308:29PM
Consultingisabigbusinesswithoutconcreteresultsforthecompaniesinmostofthecasesasofnow.
COLRANBIRLAMBAlamba(PTA)repliestoRAJJAIN
05Apr,201311:31AM
LARGEVOLUMETURNOVER>.TAXHEAVENHOLIDAY>.BETTERINVENTORYMGMT>>
MOREPROFIT>MORESALRIES
kapsy(melbourne)repliestoCOLRANBIRLAMBAlamba
05Apr,201306:12PM
shutupyourface,fakecolonel!enoughofyourbakwasandthatofyourchamcha
VijaySingh!
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