The Knowledge-Powered Management Consulting Strategy

Knowledge is critical to business success. But, knowledge, in itself, is not enough to satisfy the vast array of changes in today’s organization. Companies need to be more focused on strategic knowledge management due to the hypercompetitive global environment. There is also a reason that knowledge management studies have failed to disclose the nature of filling the gaps between performance and success. In many instances, there is no direct connection between knowledge management models and today’s changing situations. Companies in general confront challenging situations in which they need to proactively respond to every environmental demand, a more effective knowledge management model can be a basis for understanding and perhaps anticipating these emerging issues. The knowledge-powered management consulting strategy is a necessary precursor to more strategically managing knowledge within today’s organizations. This article is to help management consultants have a better understanding of this new strategy. A knowledge-powered management consulting strategy, that helps management consultants better map the strategic knowledge areas to integrate all organizational components, can increase the chance of overcoming competitive challenges. Organizations need this approach to reach their highest possible potential with a competitive advantage. Much of what we share comes from our consulting experience as senior consultants of McKinsey & Company in the Sydney branch of a Japanese multinational automotive manufacturer.