Tata Group looks to bolster its internal consulting mechanism
The Tata Group is looking to revamp and expand the profile of its management consulting arm – the Tata Strategic Management Group (TSMG), which will now focus primarily on internal operations. To this end the firm has hired over a dozen professionals from the likes of McKinsey, PwC and EY over the last year.
There is little doubt surrounding the Tata Group’s ability to develop its consulting capabilities. The multi-billion dollar conglomerate’s consulting arm Tata Consultancy Services (TCS) is currently the largest IT services firm in India and among a select group to have surpassed $100 billion in market capitalisation.
TCS’ operations extend internationally and appear to match global standards, exemplified by its position as the 58th most valuable brand in the US – the largest management consulting market in the world. One of the Tata Group’s lesser known consulting branches is its prestigious TSGM practice.
TSGM was founded in 1991, with the specific objective of helping the senior management at client organisations with ideas for growth and strategies thereafter. Now, the firm is reorienting its operations to move away from external consulting and focus more on working with the Tata Group’s internal senior leadership.
Tata Group has branches that extend across nearly every industry, with a business empire valued at well over $100 billion. TSGM will now support this wide variety of leadership, to which end it is recruiting heavily from some of the top consulting and advisory firms in the country.
Reports suggest that the entire team at TSGM is to be revamped. Over the last year, the firm has recruited senior professionals from big names, including the Boston Consulting Group, A.T. Kearney, McKinsey & Company, PwC's Strategy&, Roland Berger, Accenture, Deloitte and EY.
The recruits also hail from a wide variety of backgrounds, spanning the chemical, digital, mobile, finance, energy, auto, telecom and steel domains, among a number of others. Based on analysis of LinkedIn profiles, reports conclude that the majority of these professionals are joining the branding and mergers & acquisitions domains.
Alongside the need for strengthening its internal operations, the move is motivated by the sentiment among Tata Group’s senior leadership that too much money was being spent on external consultants. Overall, the objective is to create a stronger bond at the core of the expansive conglomerate, and to be rid of inefficient operations.
