330 Wirtschaft
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Abstract: Consulting research aims at mapping scientific and practical perspectives against each other. Therefore, this Thesis is considering theoretical knowledge as well as practical insights which were empirically conducted. The author aims at creating a first snapshot on the influence of the Corona pandemic on the business model of the German consulting industry. Based on guideline-based, semi-structured interviews, the research gap on this recent topic was closed. Also, the author provides practicians with implications.
Summary: Contact bans imposed by the Corona pandemic led to a reduced amount of business travels and an increase in remote consulting. Digitalisation within the consulting industry was already on the horizon but pushed. Acceptance of clients for remote consulting increased. It became apparent that many activities do not have to be carried out at the client site. Video conferencing and online communication tools made remote project execution possible.
However, not all consulting fields seem to be suitable for remote execution. These include mainly soft and conflict-ridden topics as well as group workshops. Although, different online formats have been tried, innovative formats overcoming this obstacle are still missing. Nevertheless, it is assumed that relevance of remote consulting will remain high and that a hybrid consulting world will emerge.
The long-time successful consulting industry is suffering from economic effects of the Corona pandemic. Some projects have been cancelled or down streamed. Remote networking and acquisition of new projects has become a challenge. Furthermore, clients are becoming more price sensitive. However, this does not seem to affect the entire German consulting industry or all client segments. In the long run, demand for consulting is also not expected to decrease.
Some long-term effects are still unclear. These include possible changes in the cost structure, impact of remote consulting on the work-life balance, and effort required to create remote consulting. Changes to the business model so far mainly concern the shift of key activities to the online world and the increased use of new channels. There seems to be a strong hope for a quick return to business as usual. However, there are signals indicating that further business model innovation may be necessary.
Keywords: Strategic Management, Business Model, Innovation, Consulting Industry, Corona Pandemic