Innovation Technology Has Become A Prerequisite For Success

1243 Words5 Pages
Innovation technology has become a prerequisite for success in many industries over the last 20 years. This is especially true in the management consulting industry (Thomas, 1978), which continues to differentiate itself from “product-oriented” industries through the implementation of people analytics. One business that has taken the consulting industry by storm is Deloitte Consulting LLP, a New York based subsidiary of Deloitte LLP and a member of the UK private corporation DTTL (About Deloitte). While the subsidiaries of Deloitte LLP provide several services to a number of different industries, Consulting is one of their most profitable arenas. It is not only the world’s largest management consulting firm, but it is also ranked among the…show more content…
In order to achieve and maximize the most out of efficiency, coordination, and environmental adaptability, the firm is divided into three practice areas including human capital, strategy & operations, and technology. By organizing the practice into three areas of expertise, Deloitte consulting ensures that they are able to answer any question, and/or deliver the appropriate solution to any dilemma that a client throws at them. While Deloitte’s internal “development of thought leadership” is what drives their presence in the marketplace for consulting solutions (Deloitte on Consulting), it is their management consulting insights, technological partnerships, extensive library of external resources, and access to a worldwide network that separates them from competitors like PwC and Towers Perrin. It is through a vertical integration process that Deloitte has been able to start joint ventures and buy out smaller consulting firms across the globe (2016 Management Consulted), thus enabling them to expand their reach, extend their professional services, gain competitive advantage, and offer the same integration strategies to clients seeking similar outputs (Deloitte on Integration Strategy & Execution). This is just one of several methods that Deloitte has used to speed up growth (through staging), and obtain returns on their investments
Get Access