UK Consulting Industry Growing by helping others grow

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1 UK Consuting Industry 2014 Growing by heping others grow

2 2 UK Consuting Industry 2014 Contents Chief Executive s Preface 3 About the Management Consutancies Association 4 An industry in great shape 5 Headine consuting information 6 Growth in Seected Services and Industries Consuting Activity by Service Line Digita Consuting by Sector Pubic Sector Consuting by Sub-sector Fee Income by Sector 7 Industry insight interviews 8 Andy Tinin, Accenture 8 Caro Gagiardi, PwC 8 Jonathan Barber, Optimos 9 Awin Magimay, KPMG 9 Aex Hoand, Hitachi Consuting 10 Caire Kennedy, PPL Consuting 10 Chris Cooper, Chaenge Consuting 11 Lucinda Peniston-Baines, Roth Observatory Internationa things you (probaby) didn t know about management consuting 12

3 UK Consuting Industry Chief Executive s Preface The UK s management consuting industry is growing, now faster than at any time since Just as importanty, it is changing, and fast. Part of this success is about quantity the strength of the UK consuting industry and its abiity to generate fee income, incuding from overseas. But it is aso about quaity. Consuting is changing how it is organised and what it provides to meet the chaenges of the modern word. As Britain moves towards recovery after the downturn there are few certainties. Od assumptions about business have been bown away. The environment economicay and sociay is very different and continues to change, especiay with the arriva of the Digita age. We are at the start of what wi turn out to be a fundamentay new era in our economic history. That makes today an important moment in the history of management consuting. Here we show how consuting firms are adapting to meet the new chaenge of a growing and changing economy. Drawing on our authoritative Annua Industry Report 1, we provide statistics and evidence on where consuting is happening across the UK and beyond. We show where our industry is growing, especiay in areas ike Digita, and how it is growing. Our member firms record that unike during the downturn, where much of their work was about heping business restructure, downsize and survive, now they are heping Britain meet the chaenge of growth. Management consuting is growing by heping others grow. Aan Leaman Chief Executive, MCA 1 The report is based on fee income data (what management consutants are paid for their work) provided by consuting firms amost a of whom are members of the Management Consutancies Association. Comprising the Big Four accounting firms, househod names ike Accenture and IBM, as we as a range of sma and medium-sized firms, we estimate that our membership accounts for around 60% of the UK management consuting industry. To purchase a copy of the fu report and the associated data sets, visit

4 4 UK Consuting Industry 2014 About the Management Consutancies Association The Management Consutancies Association is the representative body for the management consuting industry. Our 57 members work with most of the FTSE 100 companies and operate right across the pubic sector. The MCA demands the highest standards of ethics and professiona integrity from its members. It promotes the very best in consuting. MCA membership is a recognised hamark of quaity. Through our Consutancy Buyers Forum, we faciitate engagement between consutants and those who use them, to promote effective specification, purchase and management of consuting assignments. Our Young MCA is a network that captures the enthusiasm, taent and innovative thinking of our industry s more junior members. The recenty aunched Managers Network provides the same service for midde-ranking consutants, and the work of both forums is cosey inked to the Careers Group. We faciitate an SME Group to promote the interests of our sma and mediumsized firms. We represent the interests of our members to Government, encouraging ministers and officias to continue to view the industry as a key growth sector and export. We aso engage with a range of pubic sector bodies on procurement issues. Our Annua Awards ceebrate the very best in consuting. Our Think Tank gathers our industry experts ideas and ensures they make a positive impact on debates on the economy, pubic poicy and the business environment. Our members are: Accenture AECOM Arup ASE Consuting Atkins Management Consutants Atos Consuting BAE Systems Appied Inteigence BDO LLP BearingPoint Limited Berkeey Partnership Bourton Group Boxwood Capita Consuting Chaenge Consuting Concerto CSC Deoitte EC Harris Entrusted Group EY Grant Thornton UK LLP Hay Group Hitachi Consuting Hudson & Yorke Huthwaite Internationa IBM Goba Business Services impower Information Services Group Europe Ltd Integration Management Consuting Limited Kepner-Tregoe KPMG LCP Consuting Management Consuting Group Managementors Limited Moorhouse Mott MacDonad Navigant Novoatum NTT DATA Oakand Consuting Optimos Consuting Limited Oystercatchers PDN LTD PPL Prederi Limited Propaganda PwC Quest Wordwide Quintec, a Thaes business Roth Observatory Internationa Soving Efeso Stream:20 Ltd Sysdoc Ltd TATA Consutancy Services Transform Turnstone Services Limited Visa Consuting Wipro Consuting Services

5 UK Consuting Industry An industry at the heart of the economy Back in 2012, management consuting achieved growth at a time when the wider economy was stagnant. This growth derived in part from continuing assistance provided by consutants to firms with restructuring, efficiency and cost-cutting requirements. But our members indicated that their fee income aso derived from the first intimations of coming economic growth, with some cients needing support to deveop more expansive propositions. Headine growth for the industry in 2013 improved to 8%. Our sampe grew to 4.8bn. Consuting growth accordingy outpaced wider economic expansion both in a period of stagnation and as GDP increases started tentativey to reemerge. However MCA member firms indicated that the greater part of their 2013 income came from advice connected with growth possibiities. Current consuting performance appears to be an advanced indicator for the prospects and heath of the wider economy. That businesses in significant numbers are seeking consuting support to deveop growth propositions is good news: the current economic optimism and the prospects for sustainabe growth appear we founded. Consuting is growing by heping others grow. It is aso evoving to hep others evove. Take the growth of Digita consuting, representing around 25% of a consuting activity (an increase of 6% in one year). Here we see evidence of the centraity of the consuting industry to the emergence of Digita as a major force in the economy. Indeed, the connection between consuting s growth, its basis in support provided to hep other enterprises grow, and the emergence of Digita, is a pretty cear one. Many businesses are facing a range of Digita chaenges and opportunities. Digita is perceived as a route to efficient organisation, improvement of suppy chain management, and, cruciay, a means of opening up new modes of engagement with customers understanding their needs better and deveoping new products and service offerings. Businesses are motivated to pursue Digita soutions, but their understanding of its potentia is constrained by knowedge. Digita is exciting. But it is nove and technica. Consuting firms are conversant with the detai of Digita. But they are aso fuent in the anguage of business. They can expain the importance of Digita to cients without recourse to forbidding and technica jargon. They are thus abe to ink Digita s potentia to the bottom ine in ways that executives can understand and respond to. If 25% of consuting is Digita, the majority is not. Consutants continue to provide advice in areas such as programme and project management, strategy and business transformation. Yet even those activities are affected by technoogica change and the assumptions of the Digita Age. Digita provides rea time information on what is going on in a business. So consutants are incorporating these data into their programme management. The speed at which the economy moves in Digita is refected in how consutants are now providing strategy advice. Our members are moving away from simpy producing a strategic pan towards heping businesses get in shape, making sure they are adaptabe, can innovate fast, try new ideas fast, even fai fast, and keep moving in a commercia word whose characteristics are reentess change and unpredictabiity. Our members operate across a sectors of the economy. Consuting has a arge footprint in financia services, heping that vita part of the UK service andscape recover and change after the goba shocks of But consuting aso supports other parts of the service sector, such as retai, as we as manufacturing. Consutants are rebaancing the economy. The Government s emphasis on infrastructure as a route to growth is mirrored in significant new consuting activity in this area. Consutants are present at a points in the infrastructure vaue chain, from business case deveopment, finance support, through to impementation and project management. Indeed, there is a great consuting track record of invovement in many of the UK s infrastructure successes, such as Crossrai and the Oympics. Consuting is aso continuing to support the transformation of the pubic services. The UK pubic sector is currenty experiencing a significant shrinkage in expenditure and workforce, whie expanding in responsibiity and organisationa compexity. Unsurprisingy it is using consutants in areas where these chaenges are especiay sharp, such as heath, oca government and defence services. Consutants are heping service providers achieve more for ess. Indeed, there are many notabe exampes of pubic service consuting creating great vaue. MCA member firms are improving customer segmentation and service taioring in oca government. They have deveoped patient pathways in the NHS. They have heped introduce the dynamics of choice into ong-term care and have supported drives to improve standards in education.

6 6 UK Consuting Industry 2014 Headine consuting information 2013 Growth in Seected Services and Industries 15% 10% UK Consuting growth: 8% 5% 0% -5% -10% -15% -20% Retai Trade (exc. Motor Vehices) Whoesae trade (exc.motor Vehices) Teecommunications Rea Estate Pubishing, Audiovisua and Broadcasting Pubic Admin and Defence Other Professiona Services Land Transport Information Services Food and Beverages Financia Services Administrative and Support Services Water Suppy, Sewage & Waste Mgmt Oi & Gas Extraction Mining & Quarrying Manufacturing Intermediate Goods Energy Eectricity, Gas, Steam & Air Consumer Non-Durabes Consumer Durabes Capita Goods

7 UK Consuting Industry Consuting Activity by Service Line 2013 Digita Consuting by Sector 1% 2% 6% 4% 5% 25% 4% 33% 8% 15% 8% 10% 14% 10% 20% Digita & Technoogy Consuting Programme/Project Management Financia Operations Human Capita Strategy Risk Management Change Management Business Transformation Other Financia Services Government & Pubic Sector Digita & Technoogy Energy & Resources Retai & Leisure Transport Manufacturing Heath & Life Sciences Capita Infrastructure Advisory Other 2013 Pubic Sector Consuting by Sub-sector 2% 2013 Fee Income by Sector 2% 9% 6% 4% 2 6% 6% 3% 5% 35% 12% 19% 21% 9% 20% Centra Government NHS/Pubic Heath Defence Other Government/Pubic Sector Loca Government Education Internationa Agencies Executive Agencies & NDPBs NGOs (0%) European Commission (0%) Financia Services Government & Pubic Sector Energy & Resources Digita & Technoogy Manufacturing Transport Retai & Leisure Heath & Life Sciences Other Capita Infrastructure Advisory

8 8 UK Consuting Industry 2014 Industry insight interviews Andy Tinin, Accenture Andy Tinin, Managing Director Accenture Strategy, is optimistic about the heath of consuting. Increasingy he is seeing that most consuting demand now comes from businesses needing support to hep them deveop growth propositions. Business eaders endured six years of restructuring and cost-cutting. That s a arge chunk of anyone s career. They got tired of being tired. Now, they re seizing on the return of growth to the economy to ook to the future. And it is his view that businesses need consuting support at the moment in part because of gaps in their strategic and midde management skis. Whie some firms hed onto key staff during the tight years of the downturn, many shed expertise or didn t recruit emerging capabiities. Consutants are fiing these gaps, often in response to urgent demands. Investment committees are now asking to see where businesses want to go next, and what their big pays for the future are going to be. Consuting, Andy argues, is changing. It has moved from being a niche advisory business, into an industry worth biions of pounds. Increasingy, as our industry matures, we wi need to move away from commodity saes into much more dynamic reationships with cients. Digita is at the heart of Accenture s vision for the future, but so are peope. Consuting wi remain a business deivered by peope, though certain buk processes and types of anaysis may be digitised. But the reaities of the Digita economy and the changes it is bringing wi mean that the consutants of the future wi be different. Andy says that Accenture has no difficuty attracting peope, but it needs to train graduate entrants, mature hires and existing staff to cope with the new reaities of business. Cients need to ook at options for the future, whie aso recognising that the future is unpredictabe. Our roe is to prepare them to meet that unpredictabiity, to ensure that they can adapt to change. So, our consutants themseves wi need to be abe to dea with ambiguity and uncertainty. At Accenture s London Innovation Centre, cients are chaenged about their own assumptions, their own dogmas, and encouraged to think about how they woud react to a range of future chaenges. The output of these sessions is not typicay the od-fashioned strategic pan. Rather, we aim to hep organisations to become more responsive, ight on their feet, more innovative and more resiient. This wi equip them to face the chaenges of an increasingy fast-moving business environment. Caro Gagiardi, PwC Caro Gagiardi, Partner and Digita guru at PwC, beieves Digita is changing not ony how vaue is distributed, but aso how vaue is created. This changes how the economy works. Digita has aready coapsed suppy chains and shortened the distance between the buyer and the product. Yet ecommerce can sti generate advantage. Do organisations understand Digita Natives? Are they optimising digita interactions in today s word of smart devices with the same computing power as thousands of Apoo 11 computers! Digita shoud aow much more frequent and taiored interactions with customers and new possibiities for ecommerce. Once businesses get that right they can move onto the new frontier of eoutcomes. Caro suggests that combining Big Data, smart devices, sensor technoogy and agie capabiities can create new orders of vaue that hep customers move towards and reaise their goas. Take car owners. Usuay, they buy or ease the car, tax, insure, maintain and cean it. Their rea goa is having the freedom and convenience of going from A to B by car. Digita coud simpify that for them, so they don t have a pethora of suppier reationships to manage. And why stick to ownership or 3-year easing? What if the customer wants a different car every week? Or even different modes of transport? This is a new Economy of Outcomes: enabing a goa a consumer has, rather than manufacturing a new product. This is a new kind of vaue, competey impossibe without digita technoogy.

9 UK Consuting Industry But Caro suggests that businesses wanting to expoit this new potentia wi need a certain Digita Mastery. The Economy of Outcomes is exciting and revoutionary. But you need to get the basics absoutey right. Understanding how to get best advantage from ecommerce is crucia. If you are a new entrant, you coud eapfrog the market straight into the Economy of Outcomes. But if you are an estabished business, you need to work out how to use ecommerce first. Then you can have a go at making money with eoutcomes. Caro beieves that Businesses don t need a digita strategy. They need a business strategy for the Digita Age. So consutants shoud recognise that Digita is more than just a channe. It s new vaue. He suggests that economists and poicy-makers haven t caught up with this. The Digita economy is creating new forms of vaue that aren t captured by traditiona sectoria measures of GDP. An increasing amount of unconventiona and highy innovative services is emerging every day, and many of these create vaue by making peope achieve desired outcomes better - rather than just by executing a transaction. These new forms of vaue creation aren t even truy factored in to our measures of growth. In the coming years, Caro intends to work up a GDP+ mode to capture these new forms of vaue, so that the innovative potentia of Digita, and Britain s centraity to it, can be quantified and recognised. Jonathan Barber, Optimos Jonathan Barber, a Director at Optimos Consuting, a new member of the MCA, beieves the potentia for deivering consuting vaue wi come increasingy from Big Data. Our cients are faced with an exponentia increase in the amount of data to manage from within their organisations, together with socia media and increasingy, digita devices. This range of data, or Big Data as it is known, provides amazing opportunities for firms to revoutionise their businesses, change their reationships with customers, staff and suppiers and innovate vaue into their operations. However, most organisations are buit on od technoogies and getting the right data at the right time in the hands of the peope who need it most is not an easy task! Jonathan sees Optimos Consuting at the heart of the Digita revoution. A our consuting is Digita consuting. The reationship between a business and its customers and how a business handes suppiers, peope and assets is being transformed competey by Digita. Big Data is both changing the way companies do business and providing the information to hep decision-makers anayse how and when to change their businesses. There s no better pace for consutants to be right now. Awin Magimay, KPMG Awin Magimay, Head of Digita at KPMG, suggests that Digita provides significant opportunities for consuting to suppement its peope offerings with entirey digitised ones. Consuting, even Digita consuting, depends on the creative imaginations of the peope who carry it out. But it s possibe to extend the range of our offerings, and our cient base, by creating new Digita appications and portas. For exampe, KPMG has aunched The C2FO Market, a new digita suppy chain finance patform to UK business. The C2FO Market is transforming the business to business oan principe, acting as a private exchange between buyers and their suppiers who use the marketpace to increase profit and acceerate cash transfers between themseves, giving SMEs access to a new source of working capita. Existing suppy chain reationships are enhanced and strengthened without the SME becoming a debtor to the arger enterprise. Awin suggests that there are other ways that he can use appications to bring services to the SME market by making them more affordabe. We re ooking at how some of our core services, such as accountancy and tax services, can be provided in a basic digitised form for sma and medium enterprises. As those ventures get arger, they wi need more compex services, deivered by peope. But if we ve been abe to give them access to a more simpified but top quaity service through an appication or a porta, then they wi be more ikey to choose us when they need something more invoved. Awin thinks that we ve ony seen the tip of the iceberg in terms of being abe to transform product offerings through this type of mode. Whoe areas of the economy, especiay in the provision of services, coud be disintermediated. As we go forward, consuting wi need to earn to everage these sorts of products. That s going to mean changes in our skis base. We sti need traditiona anaysts. But we aso need peope who understand Digita and can write code. But most important of a, we re going to need creative peope, with fresh thinking and new ideas that can foster innovation in a connected word.

10 10 UK Consuting Industry 2014 Aex Hoand, Hitachi Consuting Aex Hoand, of Hitachi Consuting, beieves that consutants have a critica roe to pay in the fast moving word of Digita innovation not just in advising on technoogy trends and futures but aso by heping organisations make a cutura and technoogica shift towards embracing innovation and experimentation. Many organisations now face an innovation imperative. Sometimes this is about countering the chaenges brought by start-ups and other competitors in their industry. Sometimes it is simpy that they have yet to harness the power of digita technoogies, such as mobie, coud, socia media and Big Data. They need to experiment fast. However Aex suggests that successfu innovation requires an attitude towards experimentation, faiure and earning that many organisations find hard to stomach. This is party a resut of historic modes in IT. In the past, IT departments were geared towards arge, heaviy controed projects with significant set up costs. To enabe their cients to incubate and test new business ideas, Hitachi Consuting are aunching a new service caed The Hitachi Labs. The Labs wi provide a patform for rapid digita innovation. This service wi bring together a combination of strategic skis and digita technoogy knowhow. We wi depoy quick-start tempates to enabe ideas to be generated, tested, depoyed and mainstreamed to create business vaue quicky and frequenty. Cruciay, Aex suggests, the approach wi aso aow businesses to do something they wi need to do frequenty in Digita: fai fast. Faiing is the fipside of succeeding. Tomorrow s business eaders wi need to generate many ideas, test them, and rapidy back those that ook ike winners and cose down or reengineer those that aren t working. The key ingredients are controed risk-taking and speed. Caire Kennedy, PPL Consuting Caire Kennedy, Managing Director of PPL Consuting, a speciaist consutancy working predominatey in heath, is proud of her firm s performance ast year. We had a very good year in It buit on what has been essentiay a strong performance in genera. We ve continued to grow despite the downturn and cuts in pubic sector spending. Caire attributes PPL s success to the fact that they hep address ongoing, but evoving, needs for cients, without being part of the business as usua cost. Our work focuses primariy on integrated care. That s an essentia issue for the NHS and other heath providers, irrespective of wider issues, such as institutiona reform and poitica change. We address ongoing probems fexiby, without being part of the ongoing staff cost of the NHS. This is an efficient mode and it works our cients keep on using us. Controversies around the use of consutants in the pubic sector can be addressed, Caire suggests, by stressing the efficiency consuting represents as route to expertise. The cost of keeping experts needed for essentia but intermittent chaenges permanenty on the books woud be much greater than the cost of using consutants, a perspective that scotches the facie myth of trade-off between more management consutants and more doctors. However, this argument ony works if consutants and their cients can point at the positive vaue consutants are creating. That s not aways easy where consutants are heping them with chaenging change programmes and cost reduction. Most importanty, consutants need to promote the positive benefits of what we do. We shoud identify the rea improvements in patient care, efficiency and the management of tax-payers money for which we are directy responsibe. Caire acknowedged the changes Digita was making in the heath sector, but indicated that PPL s business was peope-based and woud be difficut to digitise itsef. The pubic sector wi be making great use of some of the Digita expertise in our industry. But most frontine services wi remain human resources, deivered by highy skied peope. A peope business wi aways need peope to advise it. And as far as getting the skied professionas PPL needs, Caire indicated that the firm had indeed faced chaenges, but added, That s ony because we re picky!

11 UK Consuting Industry Chris Cooper, Chaenge Consuting Chris Cooper, MCA President, and Chief Executive of Chaenge Consuting is optimistic about the consuting market despite working in one of its more chaenging environments, board-eve advisory to Financia Services and Banking. Sentimenta factors in the economy are now much more positive. Actuas are aso more positive: UK GDP has increased and most of the ground that was ost since 2008 has been regained. Consumers and businesses are graduay feeing more confident about spending money. And that s a positive and is positivey impacting consuting. But ife in the new norma remains somewhat unpredictabe in these eary days of recovery. Financia services, though a considerabe source of consuting revenues since 2008, has ony just started to scan the horizon and consider future options and possibiities. Much of the activity in Financia Services has been focused on immediate demands: reguatory, compiance, reations with government, stress testing. Just when they start to breathe out, the sector hits the front page again and there s another round of banker bashing. Nevertheess, Chris beieves that confidence in the sector is improving in genera and that the Digita transformation has aready begun. Digita is aready a significant theme in the financia services space and wi become increasingy prominent. This is positive effect for consutants. Chaenge Consuting speciaises in formuating and mobiising change. Digita is aready a theme for us in our work in Financia Services, particuary as we hep our cients work out how to change what they do as a resut. Lucinda Peniston-Baines, Roth Observatory Internationa Lucinda Peniston-Baines of Roth Observatory Internationa says that the rise of Digita is creating new chaenges for her cients, usuay the Chief Marketing Officer within a firm. Digita has shifted the baance of brand contro towards the consumer. The CMO is now expected to do more than banket customers with brand awareness and messaging. Now they must coaborate with other departments to pace the customer experience first, right across the fu range of traditiona and Digita channes incuding socia media. Often that experience needs to be deat with in rea time, as woud a rea conversation. Take the case of a cashpoint faiure by a major bank. In the past that woud have ed to a ot of compaints, to be handed in retrospect, and the outside chance of an adverse news headine. Now, within minutes, the probem is trending on Twitter. In this scenario, suggests Lucinda, the CMO is faced with a two-directiona issue to address. They need to manage the expectations of the consumer. But they aso need to coaborate with the operationa functions within the firm that ooks after cashpoints and perhaps ca centres. This integration roe is new and demanding. Some of the consuting growth we are seeing stems from heping CMOs and their teams to understand how to manage it to deiver a seamess customer experience, as we as ensuring that their range of externa agency partners (and their own in-house team) contains the right mix of expertise they need. CMOs reationships with Chief Information Officers (increasingy rebadged Chief Digita Officer) and Chief Finance Officers is aso deepening. Managing brand and marketing issues in the Digita Age needs new technoogy and aso new capabiities. CMOs need to work with CDOs on getting the best technoogies and anaytics in pace to understand their consumer and their brand s performance. They aso need to work cosey with CFOs to get marketing technoogy requirements in the budget. Lucinda echoes the view of many across the industry that success for firms in understanding customer perceptions and marketing opportunities is a function of understanding their data. This is about Big Data, of course. But actuay within the Big Data haystack, what firms may be ooking for is a sma data neede crucia piece of insight, in a tweet, in a bog, or even in something one of their own staff said, something that aows the business to see itsef in a new ight. Businesses are getting hungry for this sort of information. Roth Observatory Internationa heps brands identify and work best with agency partners that can hep them navigate this digita andscape. But there are aso new, exciting, but itte-known enterprises out there who are highy conversant with digita anaytics. One of our most exciting projects recenty was with Starcount, a new onine patform that aggregates fans socia media content reated to ceebrities or brands. We re heping them source an agency partner to highight their digita data proposition to cients in ways that the increasingy hard-pressed CMO can understand and put to good use.

12 10 things you (probaby) didn t know about management consuting 1 The UK is a significant exporter of management consuting services. Most MCA member firms have increased their exports significanty since Many consuting projects are at the cutting edge of innovation and new thinking. For instance, recent MCA Award winners heped create a digita car showroom, aunch a new bank and kept transport systems working during the London Oympics. 3 More than a quarter of consuting in the UK is now Digita. This is the argest and the fastest growing part of the consuting industry. 4 A of the major goba consuting firms are strong in the UK consuting industry but so are many speciaist smaer firms which have specific expertise or skis 5 Independent research for the MCA has shown that consuting projects, on average, generate benefits for cients worth 6 for every 1 spent in fees. 6 Britain s consutants are word eaders in infrastructure, panning and construction. Bridges, raiways, airports, hospitas and roads are often buit with the hep of UK management consutants. 7 Britain s consuting firms work for amost a of the country s eading companies, and with most organisations in the pubic sector 8 In recent years, consutants have heped pubic sector organisations to save money and to improve the quaity of their services. They have saved hospitas from insovency, improved safety on our raiways and created innovative ways of deivering oca government services. 9 More and more consuting is being done on a payments by resuts basis. Instead of charging for their time, consutants agree their objectives and get paid when they meet them. 10 The UK s consuting industry grew by 8% in 2013, its best performance since The growth of consuting is concentrated in areas where wider economic growth can foow. Consuting is growing by heping others grow. Management Consutancies Association 5th Foor, Cornhi London Management EC3V 3NG Consutancies Association 5th Foor, Cornhi, London EC3V 3NG T +44 (0) T E +44 (0) E Management Consutancies Association 2014 Management Consutancies Association 2014

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