Understanding the Professional Services Industry
From consulting to law, from accounting to advertising, professional services firms today face similar and often daunting challenges. With volatility in the domestic and global economies, professional services firms will continue to be squeezed on fees, and must be razor sharp on cutting costs and running efficient operations. Firms with multiple areas of specialization and locations across the country or around the globe must find ways to speak a common organizational language.
While professionals are trained to practice in their particular field, they are not always prepared to run a practice area as a business. Wharton has collaborated with professional firms in preparing Partners to develop leadership capabilities beyond their area of specialty, and to bring disparate and distant areas of the firm into more effective alignment.
The critical differentiator among professional firms in today’s economy will be the ability to add value while delivering an exceptional and consistent client experience. Wharton programs also help accountants, lawyers, architects, consultants, and a full range of professionals hone their ability to better understand the business relationship with their clients in order to deliver a higher level of service.
