In 2012 at OAUG Collaborate conference in Las Vegas at dinner table with
executives from one of leading US consulting company i brought term
"Subprime Consulting" as analogy to subprime mortgages that led to
financial crisis in year 2008.
Concept was that same as subprime mortgages, subprime consulting ruins market and may lead to consulting industry crisis.
With books like The Firm: The Story of McKinsey and Its Secret Influence on American Business or House of Lies: How Management Consultants Steal Your Watch and Then Tell You the Time the subject of value coming from consulting companies is getting hot.
Statement from Harvard Business Review blog "why we love to hate consultants" about consulting business model being "at risk of going away with the rise of big data and increasing ability
of companies to sort of crunch their own numbers with the right
databases and the right software" does not help to clear the future.
Idea to discuss in more details what Prime Consulting is and how to formalize consulting industry led to creation of LinkedIn group Prudent Consulting Act
As subprime mortgages became banned/ highly regulated it seems appropriate to
introduce consulting standards and ethical norms for Prime Consulting.
Join our group to continue this discussion started 2 years ago at Mandalay Bay, Las Vegas, Nevada.
best regards,
Roman Havrylyak
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