Time for Consolidating Resources: Survival Recipe for Banks & Business Advisory Firms

In today’s world of mergers, shrinking profits, high cost of living, absence of strong borrowers, growing costs of production, gaining market access by Chinese products, its getting awfully tough for lending institutions and more so by consultancy, advisory firms to remain in business. Apparent reasons could be many but in all honesty, its the lack of understanding, when all efforts are being targeted to capture the high end customers, the big corporate boys, but had these prestigious companies done their homework right, they would have realized that the sought-after client profile they are after, constitutes not even 10% of the economy

At the same time, the low-middle income consumers are being neglected completely, everyone talks about increasing unemployment numbers, youths being neglected, but if I may ask, has anyone identified the core issue? The issue is, these institutions are targeting the wrong audience!

Its time we show strong character, and accept our shortcomings, and agree to change our mindset: we develop infrastructure to pool in resources, invite strategic partners, focus on SME developments and youth entrepreneurs – but to get started, we need to develop basic products so we tailor made ventures rather than expecting individuals to come up with ideas – its a challenge, but there is no other way

Imran Mateen, Strategy Consultant – Posted with WordPress for BlackBerry

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