REALM CONSULT

CHIEF EXECUTIVE OFFICER HANDOVER NOTE 2020

INTRODUCTION
Over the past decade, the management consulting sector has grown significantly to become
one of the most dynamic service industries worldwide. This growth can be attributed to
ongoing economic change, a strong development in IT and increasing globalization that
constantly prompts clients to adopt various organizational procedures, structures and
technology.
Realm Consult under the current management led by me has grown steadily. Such growth is
not only evident in the company’s profitability but also in its human capacity, resource
efficiency and market positioning practices. As a firm we believe that “it’s not about money.
It’s about the people you have, and how you’re led”- Steve Jobs. Working in this
organization has always been a privilege. Not only as a leader but also as a team member of
this great family of diverse individuals. The day to day challenges we faced and overcame
show our resolute commitment to achieve greater height as a team.
Over the years the firm has experienced various economic activities from both industry
perspectives and macroeconomic occurrences. These happenings offered the firm grounds to
demonstrate it strengths, realize and work on its weaknesses in the face of opportunities and
threats identified. The story will not be complete without the account of lessons learnt and
successes achieved. Not forgetting that “the future belongs to those who prepare for it today”-
Malcom X.
GLOBALIZATION
The impact of globalization on business management is seen by the sudden increase
of number of transactions across the borders. In protecting yields and maintaining
competitiveness, the company continue to develop a wide range of their footprint as it
lowers cost and enjoys economies of scale (Shah A., 2009). The management
consulting industry emerged and structured itself in the twentieth century, growing very
rapidly in the process. In today’s capitalist landscape, the industry has become a
significant actor (O’Shea and Madigan 1997). As a consultancy firm, we strive to fill in
for the lack of internal expertise or competency and alternatively, consultants serve as
scapegoats or hired guns in situations requiring difficult decisions (Greiner and
Metzger 1995). We are also seen as carriers and brokers of knowledge and practices or
even of fads and fashions (Sarvary 1999).
Historically, the changing needs of a stable group of large corporate clients drove the
industry’s growth. In time, however, growth also came from the exploration of
uncharted territories, new clients, new industries and also new countries. From
traditional engagements with private for-profit firms essentially involved in the
manufacturing, service oriented, marketing and distribution of goods, consulting firms
have made inroads in the service and nonprofit sectors and they have started working
with semi-public and public organizations.
Recently, globalization has brought about changes in how companies compete. Firms
have also evolved in decision making and have become more aggressive in their actions
taken due to the changing behavior of consumers. This is coupled with the need for
 companies to make on-the-spot analyses and business choices. As a result, the demand
for consulting, and the profile of the ideal consultant, are also changing. Customers
need professionals, who act like entrepreneurs in terms of their involvement in projects
and are more capable of moving beyond the immediate problem, leading not only to
solutions, but rapid but effective solutions, in any market.
As a management consult firm, we have worked hard to transform our self, altering
our role where necessary whiles ensuring that we build strong relationships with
clients. At certain times the firm has acted as straightforward consultants advising on
basic strategic decisions, sometimes acting as partners in handling an acquisition in an
emerging country, whilst at other times acting as operating consultants, who support
management in implementing change or cost reduction plans, with a view to cultivating
a long-term relationship. Last year, work done by the risk department ensured a 5-year
contract signed between the firm and central bank of Liberia to offer services in the
area of risk management.
These developments means that consultants must be more ideas-driven, more
concrete, and more deeply integrated at all levels with the client. Also, consultants must
maintain a strong relationship with the CEO and with top management, acting as the
needle on the balance to manage change effectively.

TECHNOLOGY
The move away from the traditional management consulting model is being accelerated by
technology that has automated much of the research, modelling and analysis processes
traditionally provided by consulting firms. Successive waves of technological advances have
fundamentally affected the way in which many traditional service industries operate. These
changes have given way to new models of engagement and the use of technology to
complement traditional consulting.
Under my leadership, Realm Consult was able to adopt new management consulting business
models that are facilitated by technology, which included online networks where flexible
access to top talent is provided by way of a few clicks, as opposed to the traditional approach
of hiring a team of consultants. This has greatly augment the company’s traditional
consulting through the introduction of software and technology based tools for data analytics
and data driven decision-making that are very structured, repeatable and standardized,
independent of the individual consultants.
Another technology-driven innovation in the sector is asset based consulting. This is where
technology is used to add value and competitive advantage for customers by shortening
project lead times and providing more functionality with lower costs. From 2017-date, Realm
Consult has been able to build dynamic software solutions and data-based reusable assets for
its business processes and business models. This involved building cloud based tools to help
businesses prepare their accounts, do their bookkeeping, administer their payrolls, and file tax
returns.
Notwithstanding, the management consultancy sector continue to see new models of
engagement due to increased commoditization of technology, reusable assets, and agile
methodologies and this has further lead to new models of contracts being adopted. There has
also been a sudden growth in the use of software licenses, subscriptions, retention contracts,
and equity in niche consulting areas. In order to gain a competitive advantage, Ream Consult
has begun to adopt gain sharing contracts where a percentage of all contract gains are shared
with clients. It is my hope that the few selected clients that are been piloted will yield good
result as has been strategized.
ACQUISITION STRATEGY/PLANNED ENTRY STRATEGY
Today’s business environment is volatile, uncertain, and complex. The need for
thoughtfulness and care (due diligence) before executing business strategy is more
important now than ever. An error in business growth or expansion strategy has the
capability of ending the life-cycle of any brand regardless of how efficient it’s
business
model. Successful firms, particularly global brands, have consistently employed sustainable
methods especially in the area of market entry when market leadership is the main
objective. This research studies acquisition market entry mode by global brands with
regards to recent mergers and acquisition.
Today’s business environment is volatile, uncertain, and complex. The need for
thoughtfulness and care (due diligence) before executing business strategy is more
important now than ever. An error in business growth or expansion strategy has the
capability of ending the life-cycle of any brand regardless of how efficient it’s
business
model. Successful firms, particularly global brands, have consistently employed sustainable
methods especially in the area of market entry when market leadership is the main
objective. This research studies acquisition market entry mode by global brands with
regards to recent mergers and acquisition.
Realm Consult operates in a volatile business environment which is uncertain and complex.
The need for thoughtfulness and care (due diligence) before executing business
strategy is more important now than ever. An error in business growth or expansion
strategy has the capability of ending the life-cycle of any brand regardless of how
efficient it’s business model. Successful firms, particularly global brands, have consistently
employed sustainable methods especially in the area of market entry when market
leadership is the main objective.
The contemporary business operating
environment is highly dynamic and
complex. The myriad factors affecting
business success can be categorized as
political, economic, social, technological,
ecological, and legal (PESTEL). The
sensitivity of the ever-changing business
operating environment requires strategies
to survive and sustain, hence the more
important the development and
implementation of well-developed
strategies in modern day businesses.
The myriad factors affecting business success can be categorized as political, economic,
social, technological, ecological, and legal (PESTEL). The sensitivity of the ever-
changing business operating environment requires strategies to survive and sustain, hence
the more important the development and implementation of well-developed strategies in
modern day businesses, the increase in a company’s success rate. Over the years, Realm
consult have succeeded in expanding its operations across the West African market. Through
our product differentiation strategy, the company has been able access markets that otherwise
was unreachable. This was done in the top tier of prospective client organizations through
executive selling. Another strategy employed during my tenure and over the years has been
through agents. In 2018, the firm was able to establish branches in Liberia and Kenya through
our agent strategy. This help us to form partnerships with smaller firms within such markets.
CULTURAL PROFILE
I can boldly speak to the fact that Realm Consult has developed and maintain a good cultural
climate. Drawing support from my management team we have been able to create right
business values that center around relationships and people, as well as ensuring strategic
implementation. The firm’s yearly employee reviewers speak to these values. Over the years,
the firm has offered great opportunities to its hard working staff. Last year, the hard work of
one of our staff member, Dr. Asare Yamoah was recognized by awarding him a partnership
status. Through my leadership, the management of Realm Consult has ensured that staffs has
flexibility at work. We have also ensured that the leadership team is accessible and open to
feedback from all stakeholders.
Realm Consult also ranks high in diversity, and employees appreciate that the firm has an
inclusive culture. Staff receive on average close to four weeks of vacation, with over 15% of
their base salary as a bonus of which management is working to increase to 20%. Benefits
include flex time, gym memberships, parental leave, and telecommuting has also been
instituted. It is important to note that our corporate culture is vitally important to the
company’s survival and the talent pool Realm Consult is able to draw from. But keeping
employees happy is a far more intricate process than providing a kitchen stocked with snacks,
happy hour drinks and other reward policy. Notwithstanding, workers are looking forward to
grow, learn, develop and have a say in the company’s future.
STAFFING POLICY
The consulting sector is fragmented. Despite the large number of small consulting firms, the
market is dominated by large and medium-sized ones, most of which are multinational and
even global organisations. In the last two decades, new types of consulting firms have
emerged from related professional service industries (accountancies, auditors, actuaries) and
other established firms. This heterogeneity results in a wide variety of human resource
management policies and practices across different consulting firms.
Since the establishment of Realm Consult, management has ensured the facilitation,
acquisition and placement of right people on the right jobs and at every project level
(assigning the right people to projects). This has helped the firm to attract, select and retain
competent employees to achieve organisational goals (Ployhart, 2006). This has ensured the
human resource of the firm is in sufficient quantity and quality to create a positive impact on
organisational effectiveness (Heneman & Judge, 2009).
As a company, we have take keen interest in the selection and development of management
consultants are critical staffing practices for companies due to the economic value of human
capital (Kim & Lee, 2012). In addition, performance appraisal, feedback policies and
procedures were established to promote efficiency. The important role of selection and
performance appraisal in the management consulting companies has also been an important
factor. Through our Staffing policies, a strategic role in the war for talent and in achieving a
competitive advantage in the consulting industry has been fought over the years.
As you take over the mantle of leadership in the this 21st century, I edge you to continually
have the foresight to evolve, adopt and to strive hard to ensure that Realm Consult not only
increase its market positioning, but operate as a pacesetter organisation within the African
region. Embrace the new age of technology and always remember “success is the sum of
small efforts, repeated day in and day out” Robert Collier.

Reference
 Shah A., (2009).Positive and negative effects of Globalization.
https://www.ukessays.com/essays/economics/positive-and-negative-effects-of-
globalisation-for-business-economics-essay.php. (Accessed on 2/10/2020).
 O’Shea, James and Charles Madigan (1997), Dangerous Company, New York: Times
Books.
 Greiner, Larry and Robert Metzger (1995), Consulting to Management, London: Prentice
Hall.
 Sarvary, Miklos (1999), ‘Knowledge Management and Competition in the Consulting
Industry’, California Management Review, 41(2), 95-107.
 Ployhart, R.E. (2006). Staffing in the 21st Century: New challenges and strategic
opportunities. Journal of Management, 32(6), 868-897.
https://doi.org/10.1177/0149206306293625. (Accessed on 3/10/2020)
 Heneman, H.G., & Judge, T.A. (2009). Staffing Organization (6th ed.). New York:
McGraw-Hill Irwin.
 Kim, A., & Lee, C. (2012). How does HRM enhance strategic capabilities? Evidence from
the Korean management consulting industry. International Journal of Human Resource
Management, 23(1), 126-146. https://doi.org/10.1080/09585192.2011.561247.
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