Description
Book Synopsis"This is a terrific book and the best I have read on the subject. Scott covers the economics and management issues in professional services with great authority and insight.
Table of ContentsPreface
About the Author
Introduction
The Inexorable Rise of the Professional Service Firm
The sceptical investor
Learning from PSFs
Segmenting the Professional Services Industry
Consolidation versus specialization
Life stages
Determining the Relative Attractiveness of Segments of the Professional Services Industry
Nature and level of competition
Growth and cyclicality
Entry and exit barriers
Client dependency
Recruitment and retention patterns
Threat of service substitution
Impact of government activity
Pulling it all together
Generic Strategies for Professional Service Firms
Global service integration of bundling
Vertical integration
Global versus local specialization
Sector versus product specialization
Executing a strategy
How Do You Tell How a PSF is Doing?
The balance sheet
The P&L
It's not just the financials...
Understanding the Underlying Economics of a PSF
Organizational structure
Utilization
Charge-our rates
Fee capacity and resource allocation
Identifying Whether a PSF is Positioned to Maximize Returns to Shareholders
Client strategy
Service mix
Pricing strategy
Process efficiency and internal structures
Recruitment, incentives and career management
Financial and process control
Corporate Finance and Valuation of PSFs
What keeps potential investors awake at night?
Investment strategies and pricing
The Future for Professional Service Firms
Select Bibliography
Index
