Boutique Boutique In Small Business

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Till the late 90s, the word “Boutique” was associated only with elite fashion stores. With customer becoming the focal point in marketing and decision making, Boutique became a one-stop shop for customized products and services. The trend slowly gained considerable momentum and soon the word boutique became synonymous with specialized businesses. Boutique firms provide specific focus to their customers and deliver high quality services. Boutique, though typically refers to a small business or shop, in case of consulting firms it has got more to do with focus than the size of the firm. Today, we have a plethora of boutiques around us. Boutique private equity firms, Boutique product stores, Boutique HR firms, Boutique marketing firms, Boutique…show more content…
However, these firms witnessed exponential growth during the 2008 financial crisis. During that period, most companies were looking for ways to operate in a more efficient and cost effective manner. Such cost conscious companies were attracted to the innovative and impactful solutions offered by the boutique consultants. Many top consultants from MBB – McKinsey, Boston Consulting Group (BCG), Bain & Company quit their companies to start their own consulting firm. One such example is Value Line Consulting formed by erstwhile BCG Consultant Carl Brostorm and Bain & Co. Consultant David Thevenon. Value Line Consulting saw a need for operations consulting and stayed strong even during the 2008 Global Recession. With increase in its client network, VLC hired consultants having expertise in product portfolio management and now focuses on both operations and manufacturing…show more content…
And today, clients are not only looking for solutions to their current problems, but also for innovative strategies for having sustainable growth in the future. They expect both concise problem definitions and comprehensive solutions at the same time and here, Boutiques completely fit the bill. The companies dealing with Mergers and Acquisitions (M&A) increasingly prefer boutiques to full service banks in order to minimize the personal interests of full service banks in the process. Besides being specialized and cost-effective, boutiques are better placed to take advantage of the opportunities available in upcoming trends such as Value Added Services, Internet Marketing or ESOPs. Only a handful of experts exist in these areas and therefore, boutiques valuing these trends offer great career opportunities for the knowledgeable few. For example, Everest Consulting specializes in Human Resource Solutions. However, the story of every boutique is not that rosy. While some blossomed during the 2008 crisis and thereafter, others were uprooted in their infancy. Boutiques often face funds and capacity constraints. Acquiring the right talent in the right amount is another challenge for them. Consultancies like Value Line Consulting, Universal Consulting have started forming strategic alliances with other boutiques for winning

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