What is C-suite consulting and how to get advice from the President?
Marketing Media Review profile edition journalist has interviewed and asked what C-Suite is? All the nuances and benefits were revealed by Yevhenii Mironyuk, Brain Tank's managing partner for strategy.
There are two main problems with consulting companies. First, their "adults" are too expensive for Ukrainian business. Second, is their youth does not know much. Even from the “Big Four” come associates and assistants, smart girls and well-groomed guys with excellent English, a decent diploma and experience up to 3 years. These responsible, promising people can be safely entrusted with maintaining a business calendar, but it is scary to entrust a transformation of a parent brand or strengthen a strategy that is already generating decent revenue.
The higher the price and complexity of the issue, the narrower the circle of specialists capable to undertake the project. At the highest level, there are no more than 5-10 of them. When the international community was excited about human rights violations in Kazakhstan, President Nazarbayev invited Tony Blair to consult on anti-crisis PR. The fee of the former Prime Minister of Great Britain exceeded $ 7 million per year. But have you heard much since then about the human rights situation in Kazakhstan?
This service is called C-suite consulting.
• C-suite is the name of the position of business leaders. Their position name containe the word "chief".
• C-suite consulting (or executive advisory) is such a bespoke board of directors in which CEO, CFO, COO, CIO from around the world solve your problems on the remote. It is not as expensive as a regular one, while participants can be involved at your discretion.
What do customers get? Of course, a first-class examination of proven and even famous practitioners; the ability to select advisers by resumes; different countries and industries professionals look at your task. For large-scale business transformations, you need to attract a large company, you can not argue with that. But an experienced adviser will better cope with the role of a coach for the leader, help to find new solutions without pulling the control levers.
Teneo is best known among C-suite companies, with headquarter in New York and branches in 18 megacities of the world. In 2011, when the business started, among the advisers, in addition to Tony Blair, the former US President Bill Clinton was also declared.
The traditional activities of Teneo and a few serious competitors are corporate strategy, mergers and acquisitions, crisis management, work with the media, relations with investors. However, with advisers at the level of presidents, senators, lords, all this become similar to a Masonic lodge. Then, not tables in Excel are sold, but unique acquaintances, secret numbers, the ability to mention the right name at the right time and hints about which moment to consider appropriate.
Yevhenii Mironyuk, local partner of the first C-suite agency in Ukraine, Brain Tank, comments:
“When the price of an error is high, the client receives an expertise that is not possible in a classic agency, where there is never any certainty that a team understands how the client market category works. For example, in a number of sensitive projects related to parabank services, we involve Viktor Yushchenko, head of the National Bank in 1993-1999 and the third President of Ukraine. The ability to synchronize the service model in micro- and macroeconomic indicators firmly “book” such projects and negate the business risks of “dreamers”.
From a business point of view, C-suite is always beneficial to customers. Multi-way risk hedging, accessible to practitioners of such a level as Mr. Blair or Mr. Yushchenko, pays off the costs of their one-time involvement in the project.
It is considered that in the future artificial intelligence will supplant people from many professions. However, strategic management of business is never mentioned in this context. Too difficult for a computer: it requires a very diverse experience, knowledge of psychology, the presence of emotional intelligence, intuition and leadership qualities. But this profession is not easy for a real person.
Even when you do well, there will always be anyone who does even better.
How do they do it? It is clear that experience does not arise by endless going to conferences. The cure for this is working interaction within the framework of real tasks."