Business overview of Deloitte Consulting

Business overview of Deloitte Consulting Deloitte Consulting is one of the world’s largest consulting firms, with 12,000 consultants serving more than one-third of the Fortune Global 500 in more than 30 countries. It’s a powerful firm that incorporates all types of services in its business from research through implementation. More importantly through the eyes of it’s employees it is seen as a humane, balanced, and enjoyable place to work, where talent can rise quickly. The firm which started out as Deloitte Touche Tohmatsu (DTT) was initially an international accounting firm, founded in 1845 by former bankruptcy clerk William Welch Deloitte. As the firm began to grow there was increased pressure on the business to separate from their parent accounting firms, and a new strategy had to be put in motion. In March of 2003, the firm announced it had ended discussions to separate its consulting practice from the parent accounting firm, reasons included a tight credit market and poor economic conditions. Del oitte Consulting, is now fully merged back into its parent company, which is now known simply as Deloitte. The company today competes with other large and mid-size consulting firms for the business of companies that do more than $500 million in sales. It’s known primarily for its one stop shop designs that deliver â€Å"executable strategies† that it will help implement for clients of all sizes. Some of these clients include Boeing, GM, Chevron Texaco, and retailer The Gap amongst other. One of the ways Deloitte stands out form its competitors is by providing clients with a more personalized contract which takes into mind their short and long term goals as well as other factors. By have well trained consultants and project staff the firm is able to initiate strong conversation and detailed research. They are able to collaborate better and are more responsive to their needs. Deloitte has services in five service areas. The firm integrates process capabilities and servic e lines into each service area. Deloitte consultants work with eight industry groups in three geographic regions. When new people are hired into one of the regional offices they generally work in a particular geographic region. When starting your career with Deloitte, as you become more familiar with the processes ways of doing things you’ll gradually specialize in a service line and industry group. However as with any small or large organization you will initially work within different areas and on different project types. The four key business areas the company operates in include : Audit Financial advisory, Tax Consulting Market Position Deloitte Consulting is seen as one of the leaders in the industry competing with other large and midsize consulting firms. Since it’s had a reputation of quality service and commitment to it’s clients they have been able to provide a wide range of general management and information technology consulting services all around th e world. One of the main strengths the firm has is in operations consulting, as well as strategic planning, financial management, and productivity. Deloitte Consulting is in the top 3 consulting firms in the world with other firms such as, IBM and Accenture. based on Consultants News’ estimates, which include revenue from both Deloitte Consulting and DTT. On the other hand, some research firms have listed Deloitte Consulting’s revenue the highest amongst its competitors; this would rank Deloitte Consulting (independent of DTT) at number six on the following list. In 2009 Deloitte as the worldwide leader in the consulting marketplace based on aggregate revenue, growth and market share for 2009.