ABSTRACT
This chapter describes the operational management activities of a large professional services firm. It addresses some of the issues with corporate governance of a subsidiary firm of an international organisation and how to manage in uncertain times, whether a heated or depressed market. The chapter provides the framework for corporate governance by the Board of Directors of the subsidiary company outlining the processes of the statutory board for managing corporate risk. Most large professional services firms operate some form of matrix organisation. The key dimensions are as follows and the challenge is how to manage a multi-dimensional business: profitability; sales revenue; technical disciplines, capability centres or service lines; clients, types and market sectors; and geography. The chapter provides some fundamental principles for managing during an economic downturn, such that one can emerge as one of the leaders in each of their sectors.
