Professional Documents
Culture Documents
Summer Internship Project (Sip) : School of Business
Summer Internship Project (Sip) : School of Business
SCHOOL OF BUSINESS
ON
( COGNOTICAI CONSULTANCY )
What is consulting?
For professionals working in the professional services, the terms ‘consultant’ and advisor’ are often
used interchangeably. What exactly do these terms mean? Consultancy.in zooms in on this field to
get a closer look at the origins of the consulting industry, and also provides insights into the main
Consulting is defined as the practise of providing a third party with expertise on a matter in exchange for a
fee. The service may involve either advisory or implementation services. For the consultant, taking an
independent and unbiased stance on an issue is central to his/her role. A consultant can, in principle, service
any sector. Over the past few decades, however, the term has become synonymous with business advisory –
which focuses mostly on business strategy, management, organisation, operational processes and
technology.
One key feature of the industry is the so-called 'knowledge advantage’ that consultancy firms hold in
relation to their clients. Consultancy firms are hired to help their clients with a dilemma, for which specialist
expertise or knowledge is needed which is otherwise lacking on the clients’ end. Another feature is that
consultancy firms form an independent party, which can give the clients an objective perspective on the
problems that their organisation struggles with, and can offer them solutions toward the problem. Involving
a consultancy firm can also, in some cases, be more cost effective than if an organisation were to hire
experts themselves. Furthermore, an organisation often simply does not have sufficient capacity to manage
its change portfolio, which can be done by hiring an external consultancy firm instead.
Professionals working within the consultancy industry are generally called ‘consultant’ or ‘advisor’. Often,
specific titles are used referring to their knowledge of a certain advisory area or their respective sector of
Even though the term consultant is not a protected title – in essence anyone could ascribe themselves the
title of consultant from one day to the next – the consultants active within the industry are mostly highly
educated professionals. They have gained their expertise in a particular field, or within a specific sector,
after years of studying, training as well as by building work experience. From within their organisation,
consultants are deemed to work with a professional demeanour, holding the right qualifications and capable
of providing a high standard of service to clients. Consultants can work at a consultancy firm, operate as an
independent consultant (freelance), or work as a consultant within an organisation outside the consulting
industry (‘internal consultant’).
The current trend in the market is a clear segmentation of Management Consulting firms by function.
Major/Strategy-Focused firms such as Bain, BCG and McKinsey retain their dominant global brand in
strategy-oriented projects, with smaller, more specialized firms such as L.E.K. and Oliver Wyman
competing effectively in the high-end market for specific projects in which they have a competitive
advantage. Many other generalist Management Consultancies are broadening their offering include higher
volume, lower margin projects such as IT deployment and retail sales analysis. There has always been a bit
of an unclear dividing line between Management Consulting and other Consulting practices, such as
Information Technology Consulting and Human Resources Consulting, and this line continues to be blurred.
Management Consulting also continues to branch out more and more into non-business related fields as well
the need for professional and specialized advice in these areas grows, these other institutions are relying
more and more on the same strategic and analytical principles that have helped corporations for decades.
Fields of expertise
The history of the consulting industry commences in the late nineteenth century with the founding of the
world’s first modern consulting organisations, also known as business advisory firms. In the early days of
the consulting industry (starting in the US and later crossing over to Europe and the rest of the world) the
first consultancies focused their advisory services mainly on solving technical and financial concerns.
Today, there are over 6000 consulting firms in India alone, set to grow up to 9000 firms worth
approximately 27,000 crores by 2020. These firms offer all sorts of different services, spanning across
The first pure Management Consulting company was McKinsey & Company. McKinsey was founded in
Chicago during 1926 by James O. McKinsey (known as Mac to most people), an accounting professor from
the University of Chicago. Marvin Bower, hired in the late 1930s as a partner, ran the company for 30 years
and crafted the firm into what it is today. He believed that Management Consultancies should adhere to the
same high professional standards as lawyers and doctors. Thus McKinsey, under Brower, is generally
credited with developing into the first Management Consulting firm in the modern sense.
McKinsey is also credited with being the first firm to make it a practice to hire newly graduated MBAs from
top schools to staff its projects (as opposed to hiring experienced personnel from industry). It should be
noted that Andrew T. Kearney was McKinsey’s first partner, and he left the firm to found A.T. Kearney in
1937.
In the 1960s, a number of new management consulting firms formed, most notably Roland Berger and the
Boston Consulting Group (BCG). These firms helped bring a rigorous analytical approach to the study of
management and strategy. During the 1960s and 70s, firms such as BCG, Roland Berger, Booz Allen
Hamilton, McKinsey and the newly-formed Bain & Co (1973), as well as Harvard Business School,
pioneered many of the analytical tools and approaches that would define the new field of strategic
management. The publication of these concepts has set the groundwork for many Consulting firms to
follow.
Bain & Company in particular set an early focus on the concept of shareholder wealth, which set it apart
from other firms and has become the model used frequently across the industry today. Bain has also “put its
money where its mouth is,” developing and branching off its Private Equity business based on these
principles. Its Private Equity arm has been wildly successful and is considered a leader in the space.
In the late 1990s, the Consulting industry blossomed, driven by a broad array of factors (a strong global
economy, increases in computing power, penetration of emerging markets, privatization, globalization, and
the new Information Technology Consulting practice). Many established firms were growing revenue at
rates of 20% annually or more, and new firms were popping up all over the place. There was thus a huge
demand for Undergraduates and MBAs alike, and firms were recruiting extremely aggressively on campus.
After this boom period, the growth stalled for a couple of years in the early 2000s. the dot-com bubble burst;
there was a painful recession, and many corporate clients began contracting their Consulting budgets for the
first time in decades due to the uncertainty generated by the recessionary economy of 2001 and 2002. As a
result, many young/small firms had to downsize or withdraw from the market entirely, and larger firms
Company Information; Address. New York, NY, Company Size is Small and Founded in 2017
At CognoticAI LLC, we understand that change is not always easy. Over a Decade, we've been helping
companies of all sizes respond to industry transitions in order to stay competitive. Our years of experience
have taught us to always make your business success our priority. Our team of experts is ready to help you
develop strategies for not only surviving, but thriving in the future . Give us a call today to set up your first
consultation.
Our staffing and recruiting company provides best-in-class staffing services to you. We have the
ability to attract and retain great talent and support your needs to find the best people for achieving
organizational goals. As a trusted partner, we invest ourselves in the long-term success of your
In-depth, hands-on exposure to data sciences, machine learning, and big data with experience in
developing and deploying solutions in this space, we are able to deliver the highest quality data with
APLICATION SERVICES
PRODUCT DEVELOPMENT
DATA MANAGEMENT
TESTING
WORKFORCE FULFILL
At CognoticAI LLC, we understand that change is not always easy. Over a Decade, we’ve been
helping companies of all sizes respond to industry transitions to stay competitive. Our years of
experience have taught us always to make your business success our priority.
We help companies worldwide looking for the perfect person for their company or any particular
project. Our mission is to build our relationships with the client, candidates, and companies. We care
about people/candidates who are struggling to get the right job for them. We focus on providing the
perfect placement for each individual according to their knowledge, skills, and experience. We aim
to provide continuous support and helping the companies and clients throughout the project across
the world. CognoticAI helps place talented professionals at the best companies with the best work
At CognoticAI we provide corporate staffing solutions and services in diverse industry types. Over
the years of managing and executing successful projects, we are experienced in many software
CognoticAI offers consulting services in many areas executing projects by following industry-
standard and other development processes. Whether you’re a recent graduate or an experienced
We offer consulting services in many areas executing projects by following industry-standard and
We are experienced in many software development processes to meet each project requirement.
We aim to provide continuous support and helping the companies and clients throughout the project
OUR CLIENTS
OBJECTIVE
With a consulting report, your clients will have the solutions to their problems without batting an eyelid. Not
Provides clarity to your client by focusing on defining the key issues related to their problem without
Offers an accurate analysis of your clients’ business-related problems through facts and figures
Presents an array of effective and diverse recommendations and solutions for their problems
As a consultant, you provide your expertise to help solve problems and issues faced by your clients’
business, for which they neither have the time nor knowledge to solve on their own.
A consulting report usually contains the descriptions of the problems that your client is facing, an
examination or study of those problems from the perspective of your perspective, and finally, a set of
there are different types of consulting reports, such as competitor analysis reports, cybersecurity reports,
MARKET ANALYSIS
Over the Years, the Indian consulting industry has seen a substantial growth, not only in terms of size, but
also in terms of the service offerings. In recent years, the demand of specialist consulting services is being
immensely sought by customers in India, which has eventually opened the opportunity for a large number of
consultants to help businesses with expert knowledge base and resources. Due to constantly increasing
demand, the industry is estimated to grow at a compounded annual growth rate of 30 percent to become a Rs
27,000 crores industry by 2020, as per the reports of The Associated Chambers of Commerce and Industry
of India (Assocham).
As of now, there are about 6000 consultancy firms in metropolitan cities including Delhi (25.7 percent)
followed by, Mumbai (25.5 percent), Chennai (12.1 percent) and Kolkata (9.1 percent). Moreover, service
sector contributes more than 50 percent to nation’s GDP. Besides, there are around 2000 R&D institutions
and laboratories supporting several domestic consultancy organizations directly or indirectly at a reasonable
cost.
This fast growth of this sector in India is largely attributable to improved investment activities because of
low-cost structure, entry of many big players into the Indian market, relaxation of previous FDI restrictions,
and strong capabilities in areas like IT, management, civil engineering, telecommunication, petrochemicals,
power and metallurgy. The steady growth will ultimately lead to expected rise in hiring activities.
The president of Assocham, Venugopal Dhoot, said that the countries worldwide including the United States
of America, the United Kingdom, China, Japan, Saudi Arabia, and Gulf nations acknowledge the
competency of Indian consultancy firms, with their ever growing demand in the EU as well. He further
mentioned the demand growth of Indian consultancy firms in view of their competitive edge over their
counterparts in the ASEAN countries that include Germany, Italy and France.
Management consulting is referred to the practice of helping businesses to improve their performance,
mainly through the analysis of existing organizational challenges as well as competitive environment. It also
involves the development of detailed plan of action for improvement. Organizations may seek the consulting
services for a number of reasons which includes gaining external advice and access to the consultants’
specialized expertise. Management consultants add value to organizations (including governments and
public sector undertakings) by providing them with unique expertise not easily available within the
organizations and/or in cases where the organizations were slow to respond to the environment. This
combination of lack of diagnostic expertise with lack of innovation/speed of response in clients provides a
rich opportunity for consulting firms to add value to their clients through their problem-solving skills.
Therefore, the landscape of the management consulting industry is characterized by consultants who are (a)
external to the organization; (b) hired on a temporary basis; (c) valued for their specialized experience and
expertise that is not easily available within the client organization; and (d) compensated for their advice on
improving the organization's performance and educating the client on handling similar problems in the
future.
For long, consultants have attracted significant criticism from large corporate houses as well as management
scholars. Management consultants are mainly criticized for stating the obvious, overuse of buzzwords and
failure to develop plans that are executable by the client. Of late; diversified corporations have employed
corporate staff with titles that include “consultant” as full-time exclusive resources. While such internal
consultants provide firms with specialized expertise, they would be an integral part of the organization and
not necessarily bring in the “outside” perspective that clients most often seek. Three key characteristics of
management consulting are: (1) consultants provide support in diagnosing and/or dealing with management
problems; (2) such consultants are external to the problem that is being addressed, with no implementation
responsibilities; and (3) such support is provided on a temporary basis. Based on these characteristics, they
define management consulting as including “any activity that has as its apparent justification the provision
of some kind of support in identifying or dealing with management problems, provided by individuals,
groups, or organizations that are external to the particular management domain and which are contracted by
The significance of management consulting in India can’t be undervalued. In India Management consulting
is estimated to be a Rs. 30,000 crore industry, which is growing at a CAGR of 30 percent. Consulting firms
are also aware about industry “Best Practices” due to its relationships with several organizations. They also
provide services like change management assistance, technology implementation, strategy development,
MARKET SIZE
At the end of the Cold War, American and other Western corporations employed consultants from Asian
In India, after the liberalisation of the economy, consultants were hired by Indian companies that wanted to
expand their operations abroad. Now, Indian consultants, particularly those in the IT world, are most sought
after, not only in India but also by world powers, for developing their global businesses.
Today, TCS, Infosys, Wipro have offices all over the world, and they give US and European consultancies a
run for their money. Among other major IT consulting and outsourcing companies in India are Tech
The Indian consulting story began in the 1990s when C. K. Birla requested McKinsey to devise a turnaround
project for Hindustan Motors. Soon, McKinsey opened an office in Delhi, employing about 100 consultants.
According to an estimate, there are now over 10,000 big and small consulting firms in India, 6,000 of them
According to the Associated Chambers of Commerce and Industry, the Indian consulting industry is
expected to record revenues of Rs. 27,000 crore by 2020. One estimate says that between 500 and 600 high-
value consulting contracts, worth $250 million to $300 million, are awarded every year by Indian
As in many other sectors, low cost was the first major initial advantage of Indian consulting companies and
consultants. But their major clients and their partners abroad have found that Indian consultants have other
However, they suffer from shortcomings, too. Among them are poor brand equity, experience in foreign
markets, ability to maintain quality, and low level of R&D. But they can overcome these difficulties and
emerge more powerful in the global scenario if they adopt the best practices in the industry and improve
MARKET SHARE
According to research from two different analyst firms, the Indian management consulting segment is
continuing to grow at a rapid pace, following pro-business reforms from the Modi government. The market
is presently valued between $1.4 and $2.1 billion, according to the way the management consultancy
Analysis from research firm Statista finds that the Indian management consulting market is worth up to $1.4
billion. The sector has grown by 9% over the past year, ramping up from 5%, in an increase that has been
slowdown might have suggested that the market was reaching its point of maximum expansion. However,
Modi’s liberalisation policies have opened up new business avenues for domestic and overseas clients, who
in turn have sought external expertise in rising numbers. With Modi’s policy of privatisation continuing in
earnest, analysts also expect the meteoric rise of the market to continue over the coming months, at a further
9% growth. By the end of 2017, the researchers expect that the market will be sized at $1.5 billion.
The differences in sizing of the market between the two firms can likely be attributed to how
management consulting is defined. The segment features a cross-over in many functions from business
consulting, a larger portion of which seems to have been attributed to management consulting by Source
than by Statista. Growth rates also vary between the two firms, with Source data showing an unfaltering
increase in growth within the industry, while Statista indicates a slowdown followed by an increase. This
Further, Source typically focuses on what is known as ‘big consulting’, excluding data from firms with
under 50 members of staff, and engagements under a certain value in their studies. This means growth levels
are less weighted by smaller market actors, who may be struggling to establish themselves against the
reputations of the likes of the consulting industry’s Big Four. Regardless of the definition, however, both
analyst firms provide data which suggests India’s consulting sector can expect further healthy levels of
consulting market, with 13.9% growth leading to a total market value of $2.13 billion. As India’s economy
as a whole continues to witness growth that rivals that of economic superpower China, India’s management
consulting sector has seen a significant increase on last year’s already-strong 11% growth.
Last year, Source reported that despite the double digit growth of 2015 seeing the market hit a value of
$1.87 billion, and the expectation for the consulting segment to breach the $2 billion landmark in 2016,
consultants were frustrated with the Modi government, who they perceived as acting too slowly on a host of
promised reforms. While Source’s figures suggest an 11% increase in that period, it highlights industry
figures had expected even better economic conditions. However, the effects of Modi’s reforms now seem to
finally be kicking in, with the accelerating growth indicating a positive outlook for the coming year.
INDUSTRY GROWTH
As the Indian economy strives to achieve its vision of $5 trillion GDP by 2022, all the sectors are expected
to experience unprecedented growth. The consulting industry reached $11.5 billion by the end of 2017,
averaging an annual increase of just 7% from 2013. Since then, the industry has been compounding a
whopping 30% annual growth rate and is set to become a $3.8 billion industry by the end of 2020.Let us try
to understand the reasons for such tremendous growth of the consulting industry in India as well as the
improved structuring of tax laws helped attract investment from international players to India. This,
in turn, created a higher demand for consultancy services to understand India’s market.
petrochemical, power, and metallurgical industries creates a demand for consultancy services to
provide adequate knowledge for the smooth establishment and operations of such sectors.
3. Growth of sector: The rapid growth in the industry of information technology creates a massive
demand for IT consultants with a good grasp of the latest technologies. Increasing digitization
requires businesses to adapt to the digital market for long-term growth. IT consultants provide
companies with digital solutions in the form of software, applications, web solutions, and
cybersecurity.
4. Government Initiatives: The initiatives of the government for economic growth and sustainability
such as smart city projects, greenfield projects, and several such initiatives calls for strategy and
operations consulting services for smooth launching and progress of these initiatives.
5. Increasing start up culture: Shift in the mindset of the youth from being a job seeker to an
.
CHALLENGES
Keeping in mind the differences of the domestic market in India with respect to the Global market, the major
Competition and differentiation: The biggest challenge for the Indian consulting firms is to compete
with the global players in the market. There is need for Indian consultancy sectors to define their
consultancy sectors need to adopt new organizational design that best suit their contexts and identities.
development and globalization, many Indian consulting firms find that it restrains their growth in the
outsourced regions.
Managing the Knowledge Flows: The firms have a challenge to leverage the organizational
knowledge efficiently so that there would be a proper balance between utilization of existing knowledge and
SOLUTIONS
Planning is just a phase in any technical or business environments. However, effective planning is the much
needed criteria for hassle-free execution and high performance. On the other hand, solution execution
illuminates on the unresolved criteria, and advancements to be made in the services and processes. As is the
industry, the solutions must be uniquely tailored to industrial categories and their processes.
SWOT ANALYSIS
HR Consulting Industry
A human resources consultant marketing plan also needs to be developed in order to be able to target
companies that are needed the services right away. Many people enter this field have already established
significant contacts among small businesses, medium-size companies, and large-scale corporations that
outsource certain core and non-core human resources functions to third parties. As such, an entrepreneur that
is looking to get into this field can call on their existing contacts in order to develop initial contract will
relationships.
STRENGTHS : Human resources consultants are able to generate highly recurring streams of revenue
on a monthly basis from rendering outsourced management as well as specialized projects. The barriers to
entry are considered to be moderate given that most people that start their own firm have already had
Strong Compliance.
Effective Candidate Screening.
Loyal Customers.
WEAKNESSES : Human resources consulting is a competitive industry. There are entire large-scale
corporations that are dedicated to the outsourced management of human resource issues. As such, these
firms must find ways in order to differentiate themselves from major competitors in the market.
Slow Processes.
Small Client List.
Limited Services.
.
OPPORTUNITIES : These businesses can expand by simply hiring additional staff consultants that can
increase the per month and per our billings of the business. Specialized consultants can also be hired on a
subcontracted basis especially when specific restructuring projects or related activities are required by the
client.
New Industries.
Training.
Employee Development.
THREATS : There’s really nothing that is going to impact the way the human resources consultant
business conducts operations. All necessary legislation and regulation of these businesses is pretty much
cemented, and only a major economic recession could have an impact on this type of business. However,
even during times of economic recession – human resources consultants tend to do well given the fact that
companies will often outsource non-core activities to these companies in order to reduce costs. Once
Changing Laws.
Larger Competitors.
Less Demand in Certain Industries.
After conducting a SWOT analysis, you will want to consider a few additional things. Consider
how you can focus more on your strengths, including applying those strengths into other areas of
business. Consider whether you should directly fix a weakness or delegate it to someone else.
Sometimes it is more beneficial to delegate to people who are strong where you may have a
weakness.
Finally, always consider the impact and likelihood of threats and opportunities. A high impact
threat may not be likely, but you will want to be prepared all the same. It only takes one
The Consulting Industry in India is growing at fast pace and soaring new heights all across the world. This
time, it is required to make an action plan to exploit the tremendous potential available for growth of
consulting market. Also, there is a need to strengthen the framework of Indian consulting industry by
embracing innovation, nurturing talent, improving the quality of consulting services, and enhancing
consulting skills.
With over 8000 organizations, the Indian consulting industry is one of the fastest-growing sectors in India.
The industry is growing at a steady rate and is creating more than 2.2 lakh jobs per year. Consulting jobs are
highly demanded these days owing to the plenty of growth opportunities they provide, besides a good pay.
Every market is dynamic and cannot remain same for a very long time. This is because market behaves
freely based on demands and supply of products and the inflation rate and price level of an economy.
Currently, in India, there are many changes that are taking place in the entrepreneurship world. The
consulting firms need to improvise on their strategies and plans so that they can attract the consumers in
market. It is right that the consultants make various suggestions and help others in preparing a business
plan. It is equally correct that they need to have their own business plan too. After all, they too are
functioning as a profit making enterprise with other competing firms and a set of employees who need to
be paid.
Turbulent times generate tremendous change, and this is precisely the reality that management consulting
firms are facing today. To adapt to rising marketplace pressures, to get ahead and stay there, they will have
to adopt an array of marketing techniques. But in adversity lies opportunity — to build resilient and robust
brands.
THANKYOU