London: The UK's management consulting sector will increasingly be looking to build business in new and emerging markets around the world, says a new research report from The Management Consultancies Association (MCA).
Grace under Pressure: The resilience of management consulting in challenging times is the fourth report in the Association's 2011 Industry Research Programme. It looks at trends for the consulting industry in 2011 and prospects for 2012.
With low growth or recession predicted for many western economies, the report identifies the important opportunities for consultancy firms in other parts of the world.
Alan Leaman, Chief Executive of the MCA, said:
"Part of the UK government's strategy to rebalance the economy requires an increase in service exports. The consulting industry has an important role to play in this process and will make an increasingly valuable contribution to the UK's prosperity if an export-focussed strategy is successful."
MCA members also report significant barriers for their clients who are aiming to improve their export performance. They identify the lack of senior management experience (39%) and an uncompetitive cost base (37%) as the most significant obstacles.
Alan Leaman commented: "Our research describes an industry that is performing well in tough and challenging times. Management consultancy has demonstrated high levels of resilience and responsiveness to changing economic conditions and client needs. The need for the UK to boost its export performance gives consulting a vital role in the country's growth agenda."
About the MCA Barometer
The MCA Barometer explores the personal views of leading figures in the consultancy sector on issues affecting the UK economy, its prospects and the wider policy agenda. It takes the form of a quarterly online survey, conducted by independent research consultancy Ipsos MORI on behalf of the Management Consultancies Association. Wave 2 of the MCA Barometer was conducted between 2 -18 November 2011.