ABSTRACT

This chapter explains what makes for high-performing consulting firms. The research that underlies author's explanation was conducted in successful professional firms of all types, and the findings have direct relevance to most consulting firms, both large and small. Most top managers in any consulting firm would agree that the key to success is having the right strategy and financial model. The leaders of high-performance firms see their overall responsibility as one of achieving and managing alignment in the firm's different growth stages. Strategic identity for a consulting firm is analogous to the personal identity of an individual. Making the right decisions about the firm's strategy and developing a strong consensus that supports this strategic direction is clearly important to high-performance firms. Making the three-hat arrangement work also requires the development of a well-executed performance management and career development system at the partner level.