I have been wrangling with the change hitting Professional Services with the advent of the Digital world. While it plays into the expertise of PS professionals, it also disrupts the current way of working. I have been arguing in my blogs on the need for a completely new Management paradigm to evolve encompassing Strategy, Education, Execution. In light of this, I excerpt from a enlightening blog that I recently read, aptly from the Drucker Forum. Read on…
Talk to people in such professional service industries as: private banking, auditing, consulting, even engineering, and you begin to hear concerns about the commoditization of professional knowledge. A consulting civil engineer [the field in which I was first educated, and still find so deliciously complex] admitted to me that much of what you need to know in that field is on line, and that their corporate clients were a new breed who didn’t so much want what he and his colleagues already knew (since that was easily available), as what they didn’t know. Increasingly, tax preparation is being automated, and even auditing is going the way of algorithmic review and big data “sweeps” instead of sampling.
In fact, as if in a perfect storm, not only is the character of expertise changing, but at the same time, new client needs, and new clients, are emerging and the potential for new delivery of expertise content is also changing in fundamental ways.
In a world where expertise is dead, no longer will functional training alone be sufficient to rise to the top, or to take a lead-role. New, more intuitive and relationship-oriented skills will prevail.
we might well pay attention to Kevin Roberts, Executive Chairman of Saatchi & Saatchi, who suggests that all of this is vivid testimony to “the idea of business management as a liberal art.”
The above has been excerpted from http://www.druckerforum.org/blog/?p=1033