The economic stimulus legislation is going to spend a lot in 2009 and later years. What opportunities exist for management consultants?
Change means opportunity for management consultants. New business priorities, technologies, social trends, legislation, and demographic shifts create a need to manage that change. Whether your consulting practice is focused on training, finance, process, leadership, marketing, or information management, the kind of changes implicit in the The American Recovery and Reinvestment Act of 2009 (ARRA) mean new opportunity. How do you find your opportunities?
First, see www.recovery.gov
for a quick overview of the legislation, or see Wikipedia
for a good summary. Second, familiarize yourself with the particulars of the The American Recovery and Reinvestment Act of 2009
. Third, most trade associations have summarized the impact of ARRA on their member companies and describe the challenges of implementing these new spending priorities. I found such summaries for realty, engineering, research, construction, education, health care, and banking. The federal emphasis on these market segments will induce additional investment in education, healthcare and green technologies, areas that will need your expertise if you are there when the need arises.Tip:
Talk with your current clients about how they plan to take advantage of this change in spending, either directly or because of actions of their customers. Given your new familiarity with the legislation itself and how others in the their industry are reacting to these new priorities, you can suggest how they could position themselves to emerge from the economic slowdown ahead of their peers. © 2009 Institute of Management Consultants USA