All are invited to participate in the discussion:
Business Services Industry Entity Features Live Video Blog Schedule: February 25th, 2025 @ 11am
Venue: https://www.cibunet.com/
INDUSTRY PROFILE:
Quick Summary of Participants in this Industry: Management Consultants, Management Services, Accountants, Tax Preparers, Employment Agencies, Payroll Services etc.
The Management of Companies and Enterprises sector comprises establishments that hold the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing management decisions or establishments (except government establishments) that administer, oversee, and manage establishments of the company or enterprise and that normally undertake the strategic or organizational planning and decision making role of the company or enterprise. Establishments that administer, oversee, and manage may hold the securities of the company or enterprise.
Establishments in this sector perform essential activities that are often undertaken, in-house, by establishments in many sectors of the economy. By consolidating the performance of these activities of the enterprise at one establishment, economies of scale are achieved.
The Internet is changing the way companies do business and the kind of consulting they need. Many traditional consulting practices are in danger of becoming less relevant in the Internet Age. The consultants of tomorrow will require different skills than the consultants of today. Many consultancies have some sort of e-business push underway, whether it’s a specific e-biz practice, a special initiative, or just funneling a ton of cash into figuring out all the ways they can use the Internet to help their clients.
A slew of e-business boutique firms have arisen in recent years, including Razorfish, Scient, USWeb/CKS, Viant and Agency.com. Look for these firms to increasingly butt heads with the more traditional consulting firms for Internet-related and eventually, perhaps, general-consulting projects.
To help you understand the consulting landscape, we’ve divided the industry into six different categories: the industry elite, the Big Five, boutiques, information technology (IT) consultancies, human resources specialists and the independents. Most players in the industry can be put into one or more of these different categories.
The rich and famous of the consulting world. These companies focus on providing cutting-edge strategy and operations advice to the top management of large corporations. They generally hire the best candidates from the best undergraduate, MBA and other graduate programs. Slackers need not apply. Players in this group include: Arthur D. Little, A.T. Kearney, Bain & Co., Booz-Allen & Hamilton, the Boston Consulting Group, McKinsey & Co., Mercer Management Consulting and Monitor Co., to name a few.
The consulting operations of the Big Five accounting firms. Although these firms provide some of the same strategy and operations advice as the elite, they tend to put a stronger emphasis on implementation work, particularly in the IT world. The players are Accenture, Deloitte Consulting (part of Deloitte & Touche), Ernst & Young, KPMG and PricewaterhouseCoopers. The Big Five may get out of the consulting business, partly because the SEC is concerned about possible conflicts of interest that could result in overly rosy audits of firms that are consulting clients of the accounting firm performing the audit. The Big Five deny that a conflict of interest problem exists. At any rate, Arthur Andersen is spinning off Accenture, Ernst & Young may sell its consulting business to French consultancy Cap Gemini, and industry observers expect more of the same.
Boutique Firms that specialize along industry or functional lines. Although often smaller, these firms may have top reputations and do the same operations and strategy work the elite firms do, but with more of an industry focus. Representative players include: Advisory Board Company and APM (health care); Corporate Executive Board (cross-company research); CSC Planmetrics (energy and utility industry); Cluster Consulting (telecommunications and the internet); Marakon Associates (strategy), marchFIRST, formerly Mitchell Madison Group (financial and strategy); Oliver Wyman (financial services); MarketBridge, formely Oxford Associates (sales); PRTM (high-tech operations); Strategic Decisions Group (decision analysis), Roland Berger and Partners (strategy and operations); Braun Consulting, formerly Vertex Partners (strategy).
Information technology specialists constitute one of the fastest-growing sectors of the consulting world, although this sector’s growth isn’t quite as meteoric as that of strategy consulting, according to Kennedy Information Group. IT firms provide advice, implementation and programming work on issues related to computer systems, telecommunications and the Internet. Representative players include American Management Systems, Computer Sciences Corp., Diamond Technology Partners, EDS, IBM, Mondial and the Big Five firms.
Human Resource consulting focuses on personnel issues such as employee management and evaluation systems, payroll and compensation programs, pensions and other benefits programs. Representative firms include The Hay Group, Hewitt Associates, William M. Mercer, Sibson & Co., Towers Perrin and Watson Wyatt Worldwide. In addition, several of the Big Five firms have practices devoted to this area.
Independent one-man or one-woman shops. By sheer numbers, independent consultants far outnumber the larger firms. Fully 45 percent of all consultants are reported to be independents. They typically have some sort of industry or functional specialty and get hired on a project basis. If you have an MBA and several years of useful and topical business experience, there’s no reason not to hang out a shingle yourself.
Companies in the sector provide support services to businesses, such as office administration, hiring and placing of personnel, security services, travel arrangement, cleaning, and waste disposal. Major companies include ADP, Allegis Group, ManpowerGroup, and Waste Management (all based in the US), along with Adecco (Switzerland), Randstad (the Netherlands), and TUI Group (Germany).
Europe and North America are the primary markets for business services. Worldwide demand in the sector is driven by technology, digitalization, and new communication technologies and infrastructure. As a result, startups have emerged across the world, with business solutions that are innovative, flexible, and sustainable, according to Statista. While large companies may operate globally or within a specific region, many business services firms serve smaller geographic areas near their headquarters.
The US business services sector consists of about 420,000 establishments (single-location companies and units of multi-location companies) with combined annual sales of about $950 billion.
For more on this profile, please click here: https://www.cibunet.com/industries/business-services/
Profile Is Courtesy of www.bls.gov , www2.deloitte.com , www.doingbusiness.org, www.dnb.com and WetFeet.com
Discussion Questions:
1. What are some of the obvious ethics/practices of the industry or entity in the industry that violate scriptures?
2. What are the notable complaints of those who patronize this industry or entity in this industry?
3. What services or products of this industry or entity of this industry ultimately hurt people?
4. Does the industry or entity in the industry violate Environmental Social and Governance ESG sustainability goals in any way?
5. How does this industry or entity in this industry compete that is flawed in your opinion?
6. What are some of the tactics of this industry or entity in this industry that does not augur well for other industries and the overall economy?
5 Responses to “Business Services Industry: Deloitte, Ernst and Young, KPMG, Accenture, Cibunet and others”
Leave a Reply
You must be logged in to post a comment.
February 22nd, 2025 at 10:24 am
One of the ways to keep people away from pursuing their divine purpose is to lure them to seek lucrative careers. Employment Agencies and Career couselors today tend to encourage people to pursue the trending high paying jobs. Usually such jobs may be in high demand for a few years and then there is either an oversupply of human resources or the industry falls into decline. When this occurs people are laid off and often end up seeking menial jobs to survive.
“
February 24th, 2025 at 12:08 am
The top Accounting firms facilitate the mergers and acquisitions as well as the liquidation of several enterprises. While there are many benefits to vertical and horizontal integrations that foster organic growth and expansion of enterprises, today’s drive for mergers and acquisition is solely to create financial monsters that can be liquidated for the benefit of their architects and immediate beneficiaries. At the end of the day, the human resources who dedicated themselves to the vision of these entities as well as the host communities are the loosers when such deals close. Many entities are no longer purposeful and are blindly in a rat race to trillion dollar status ….
“
February 24th, 2025 at 6:36 pm
Consumers are given the tools to log complaints about big industries, especially since the pandemic has changed the landscape of some industries’ responses to changes that were not addressed before. when you factor in how these companies and industries dismiss complaints of their consumers it is difficult for the trust to be present. however, with
“The pandemic has been among the most disruptive long-term events we will see in our lifetimes,” said CFPB Acting Director Dave Uejio. “Not surprisingly, the shockwaves it sent across the planet were felt deeply in the consumer financial marketplace. As these changes are felt in the financial industries factors including changing market conditions will help consumers to speak out more to lodge complaints and industries to respond in real time.
Many of the younger generations are challenging corporations, using Gen A1, and A1 as these industries are trying to maneuver their way through this new system.
“
March 4th, 2025 at 8:48 am
Career Counselors in colleges and even parents have misled and lure many lives away from Divine Purpose. Instead of allowing the pursuit of Divine Purpose to guide and direct people into Careers and Professions, their advice is solely based on how much one can make in a Vocation. This strategy has led to many people today working outside their Divine Callings and assignments. The value of Purpose has been replaced with profitability.
“
March 4th, 2025 at 8:50 am
When everyone operates in their Divine Purpose, there is Diversity and wholesomeness to humanity. However, when people are taken out of their divine assignments, society loses the valuable contributions of these people and we all get robbed of their contributions. Currently in our country, the value of Human resources is assessed purely based on monetary contributions, ignoring the social and environmental contributions of people’s assignments.
“