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Reengineering Practice in WTO Regime S. Gopalakrishnan.

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Presentation on theme: "Reengineering Practice in WTO Regime S. Gopalakrishnan."— Presentation transcript:

1 Reengineering Practice in WTO Regime S. Gopalakrishnan

2 WTO and the Services Sector Opportunities in the WTO Regime Government Level Revenue Authorities Level Business Unit Level Way Forward Agenda

3 WTO and International Services Exports Statistics US$ Billions

4 Services Sectors in WTO Business services Communication services Construction & related engineering services Distribution services Educational services Environmental services Financial services Health and social services Tourism and travel related services Recreational, cultural and sporting services Transport services and Other services not included elsewhere Accounting and Auditing Services (CPC 8621) oFinancial auditing services (CPC 86211) oAccounting review services (CPC 86212) oCompilation of financial statements services (CPC 86213) oOther accounting services (CPC 86219) Book- keeping services, except tax returns (CPC 8622)

5 Opportunities in the WTO Regime Opportunities Business Units Revenue Authorities Government

6 Policies & Framework Claims Verification Information Systems Administrative Structures Investigation under Competition Laws Regulation of Dominant Position Government Role of Chartered Accountants

7 Audit & Verifications Link to Industry Grievance Redressal Revenue Authorities

8 The Business Units Level International Dimension Specific areas of WTO Agreements at international level in complying with their procedural and other aspects Provide services abroad by accessing foreign markets due to commitments undertaken by other countries under professional services with the opening up of service sector under GATS through: Cross-border (electronically) Consumption Abroad Commercial Presence Movement of natural persons Provide services to enterprises from abroad desirous of accessing Indian market

9 Work with foreign enterprises facing action under different provisions of WTO agreements Provide consultancy services for cross-border investment Provide services by analysis of domestic legislations of different countries in order to take advantage of various WTO Agreements for domestic industry Work with international agencies during investigations Increased networking possibilities The Business Units Level International Dimension

10 Summary Anti-dumping Investigations Anti-subsidy Investigations Trade Related Intellectual Property Rights (TRIPS) Trade Related Investment Measures (TRIMS) Procedural aspects of Safeguards Agreement Procedural aspects in Dispute Settlement Agreements on Customs valuation, Financial Services and Basic Telecommunications Competition Policy Anti-competitive Agreements Regulation of combinations Certification

11 Way Forward Knowledge Practices re-orientation Practice Development Strategy for Success Practice Development Strategies Managing Human Resources Evolution of Consulting Practice Client Service Approach

12 Recognise the changes in Economy / Business Environment Recognise the path to success by adapting to changes, knowledge and continuing professional Education Recognise the opportunities in the emerging areas Recognise the need to be proactive, innovative and flexible Recognise the need to be known as world class advisor Power of Knowledge

13 Types of Practices Expertise Based Practice Experience Based Practice Efficiency Based Practice Client People

14 Lessons for Practice Development Continual Professional Education Managing professional development practice Asset building, not just asset milking Take charge of asset building Specialize and continue to learn Marketing to existing clientele

15 Strategy for Success Networking Specialization Quality Value Addition

16 How They are Managed Contract – Long Term Relationships Contract - Right to Retrieve Key Staff Contract – License, Usage, Rights Standard Operating Procedures Contract – Service Levels, Convergent Objectives, Incentives Target Cost Setting, Process Reengineering, Sharing Risks & Rewards Contract – Formal Change Procedures HR Methodologies, Policies, Procedure & Culture Outsourcing Methodologies, Joint Risk Management Contract – Exit Strategy Perceived Risks Networking The Perceived Risks Loss of Control Loss of Skilled Staff Loss of Intellectual Property Loss of Security Service Quality Drops Increase in Cost Change Management HR Issues Transition Problems Exit

17 Broadcasting Courting Super pleasing Nurturing Listening Practice Development Strategies Stages

18 Broadcasting Marketing is an art of seduction not assault The First Team Seminars Speeches at Industry meets Articles in client oriented press Proprietary Research The Second Team Community/Civic Activities Networking with referral sources Newsletters Clutching at straws Publicity Brochures Advertising Direct Mail etc.

19 Courting We dont sell, We Court When a client hires a professional firm it enters into a relationship, the process is best described as Courtship Courting starts after Identification of Business Prospects The firm no longer addresses a group of potentials but a single, specific prospect

20 Super pleasing Super pleasing is the process of gaining the clients delight instead of satisfaction Beyond technical work and providing satisfactory services SATISFACTION equals PERCEPTION minus EXPECTATION Understanding the above three factors coupled with qualitative execution is key to Super pleasing Trivial matters may not be so trivial

21 Nurturing Consulting is all about building relations with the clients not selling products/services Nurturing is the process of Marketing to existing clients Existing clients represent higher probability prospects New opportunities at existing clients are usually non competitive Lower Marketing Costs Follow on engagements from existing clients are more profitable than first time engagements

22 Listening to the Market The better the firms understanding about how clients think the more effectively it will be able to market itself The questions, what do our clients want and how are their needs changing must be addressed continuously The various means of listening to clients ٭ User Groups ٭ Reverse Seminars ٭ Industry Meetings (to listen not talk) ٭ Systematic Client feedback etc

23 Listening to the Market Companies are operating in a transformed and dynamic business environment Business Drivers Positioning Globalization Convergence Consolidation Innovation Technology

24 People Understand your Human Capital Competency Mapping (firm vs. competitors & industry) Sustaining the Assets Building the Human Capital Ensuring Returns on all the investment In the next decade and beyond the ability to attract, develop, retrain, and deploy people will be the single largest determinant of a professional service firms competitive success. They just don t matter… they are everything

25 People Effective H R System - Effective People Recruiting Promotion Compensation Performance Training & Development Work Assignments

26 People Feel that I belong and am part of something good Reliable network of people Appreciation of unique talents Communicate ATKs direction and strategy to all employees Explaining how to get problems resolved Respect employees by providing timely and intelligent information Constantly grow, learn and develop Interesting mix of work Good project experiences Constructive feedback Understanding the measurement process Opportunities to develop Upward feedback initiatives Be able to balance work and life Provide a more balanced quality of life Tailor work requirements to individual needs Services to help balance work and personal life Work hard; be rewarded well Provide appropriate compensations Acknowledges the demands of the business Being recognized for outstanding performance Provide input into compensation initiatives Salary increases for mid-year promotions Service incentive programs Wealth Growth Pride Teaming The four key points to hire and retain good people

27 Evolution of Consulting Practice Audit and Legal Entrepreneurial Advisory/ Entry Strategy Disinvestment/ Privatization Consulting Strategic Consulting The Indian Consulting Industry has evolved over the years Technology Consulting

28 CLIENT SERVICE APPROACH THREE BASIC SKILLS OF AN ADVISOR Earning Trust Giving advice effectively Building relationships


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