This paper is published in Volume-10, Issue-1, 2024
Area
Industry and Business
Author
Aastha Pundhir
Org/Univ
Insight Business Consultants, New Delhi, Delhi, India
Pub. Date
18 January, 2024
Paper ID
V10I1-1167
Publisher
Keywords
COVID-19 Impact, Online Consulting, Digital Transformation, Corporate Strategy, Management Consulting, Industry Recovery, Future Trends, Startups, Resilience, Ed-Tech, Online Grocery, Health Tech, Fintech, Government Initiatives, Work-From-Home, Funding Resilience, Paradigm Shift

Citationsacebook

IEEE
Aastha Pundhir. Reshaping business models: a study on management consulting’s role in industry’s adaptation to the new normal, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
Aastha Pundhir (2024). Reshaping business models: a study on management consulting’s role in industry’s adaptation to the new normal. International Journal of Advance Research, Ideas and Innovations in Technology, 10(1) www.IJARIIT.com.

MLA
Aastha Pundhir. "Reshaping business models: a study on management consulting’s role in industry’s adaptation to the new normal." International Journal of Advance Research, Ideas and Innovations in Technology 10.1 (2024). www.IJARIIT.com.

Abstract

This research study examines the role of management consulting in the adaptation of the economy to the new normal, providing a comprehensive account of its initial challenges and subsequent adjustments. This research investigates the crisis responses of consulting firms as well as the information integration and supply chain management of enterprises. The capacity of enterprises to surmount adversity was pivotal to their expansion. Firms have exhibited remarkable flexibility in the face of the crisis through the implementation of digital technologies. Innovative office solutions were developed, work patterns were restructured, and work-from-home models were adopted; these developments altered conventional business operations. Every one of these three elements had an impact on the revolution. It commences with a comprehensive analysis of the primary business models for online consulting. It advises business owners on the initiation and promotion of an internet consulting firm, an industry that is expanding rapidly. In addition, Gartner workplace trends that may impact consulting opportunities in the aftermath of the pandemic are discussed. A comprehensive analysis of these themes is provided in the report. Credible online platforms, academic databases, industry publications, and internal business papers were utilized in the analysis. Region-by-region distribution highlights the study's influence on consulting in North America and its anticipated recovery. In addition to management consulting, the study investigates additional consulting subsectors. The concluding segment underscores the criticality of digital transformation for consulting firms and the necessity for them to possess up-to-date capabilities in order to assist clients in adapting to an unforeseeable business environment. This research illuminates the strategies employed to surmount unforeseen challenges and offers a comprehensive comprehension of how forward-thinking organizations managed to persist and prosper in the face of such impediments.