Manaement Consulting Essay Example | Topics and Well Written Essays - 2000 words - 1

Manaement Consulting - Essay Example This differentiating technique is a substantial tool that could transform the nature of products, processes, companies, industries, and even competition itself. Until recently, most managers treated differentiating principals as a support service. Now, however, every company and especially consulting firms must understand the broad effects and implications of the new differentiating principals and how it can create substantial and sustainable competitive advantages. (Wood, W., Lundgren, S., Oullette, J. A., Busceme, S., & Blackstone, T., 341) The principals of differentiating itself from the rest of the industry are in the process of a silent revolution and this revolution is sweeping through our economy. No company can escape its effects. Dramatic reductions in the cost of obtaining, processing, and transmitting information are changing the way we do business. (Williams, J. R. 1) Most general managers know that the revolution is under way, and few dispute its importance. As more and more of their time and investment capital are absorbed in market evaluation and their effect, executives have a growing awareness that the differentiating principals can no longer be the exclusive territory of the elite panels and theoretical niche departments. As they see their rivals use differentiating principals for competitive advantage, these executives recognize the need to become directly involved in the management of the new theories and principals. In the face of rapid change, however, they dont know how. The goal is now to analyse how the framework of differentiating principals can be combined with behavioural evidence on comparative advantage to understand the differential performance of organizations. First, we describe the emerging role of knowledge as a basis for the competitive advantage of organizations. Then we apply our framework