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LEADERS
ASSOCIATION IN RECENT
PRESS RELEASES
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Leaders Association -
"We'll show the
power of localized consulting"
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Dong-A Ilbo
Byung-Gi Lee
eye@donga.com
August 9, 2004 |
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“The time of localized domestic
consulting companies has come.”
The aftermath of the IMF crisis in Korea
saw domestic companies rushing to
familiarize themselves with
restructuring know-how’s. Naturally
there was a boom of the management
consulting market in Korea and global
multinational consulting companies
reaped huge benefits in business. Some
Korean consultants trained by global
consulting companies have seized upon
this domestic trend to set up localized
consulting firms offering ‘customization
(of consulting services) to Korean
culture and Korean circumstances’. One
of such consulting firms, Leaders
Association, was founded by 15
individuals whose consulting background
was developed from working in companies
like PwC and KPMG. Leaders Association
claims that Korean consulting companies’
competitive edge over global firms in
the local setting is clearly evident.
The global consulting companies almost
exclusively deal with large, expensive,
and time-consuming projects when the
realistic market demand is for faster
solutions for smaller projects with
correspondingly smaller fees. Korean
localized consulting firms thus offer
services appropriate for the market
demand. Moreover, Korean local
consulting firms can provide ‘customized
resolution’ for the unique local
environment instead of pursuing outright
and strict conformity to the global
industry precedents.
Leaders Association has a special
strategy which distinguishes its
services. The generally expected role of
consultants is identifying the problems
in corporate management strategy or
operation to which they provide
alternatives. Leaders Association, in
contrast, offers the additional option
of implementing the action-plan upon
request. While implementation of
clients’ corporate action-plan carries
an atypical risk for the consulting
company, it allows greater consultant
ownership and responsibility for the
projects which, in turn, promotes deeper
field analysis. In fact, a ‘Wireless
Internet Portal Business’ project for a
domestic mobile telecommunications
company landed the consulting company an
invitation from the client to take part
in the portal business following the
project completion. Similarly emerging
business opportunities allowed the
company to acquire an online game
company which effectively set up its
internal game-development department.
Through its knowledge-based strategic
operation, Leaders Association plans to
show innovation and leadership in the
globally recognized Korean internet game
industry.
The outlook for Korea’s localized
consulting looks to be bright since
localized firms playing to the strength
of their respective country’s recognized
industries have set up entry of their
specialization into foreign consulting
markets. Whereas the U.S. companies
currently dominate multinational
consulting, other countries have
similarly found comparative advantages
in specified industries like England in
the financial field, Finland in
telecommunication, and Germany in the
machinery and automotive industry.
Leaders Association’s expertise in
Korea’s world-leading IT industry is
gearing up to undertake similar global
opportunities.
The spokesman for the companies compares
consulting services to a medical
check-up. Much of the domestic
middle-sized companies have yet to
experience consulting services when
assessing the ‘corporate health’ is
crucial for finding and eliminating
potential pain factors. The superiority
of localized consulting over their
global counterparts has yet to be proven
but the emergence of these
challenge-ready businesses seems to be
the key to hastening Korea’s economic
recovery. |
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