The Coronavirus outbreak marks a major blow for consultants. However, like any crisis, it could also present an opportunity, according to the leaders of four global strategic consulting firms.
The global outbreak of the Coronavirus, also known as Covid-19, has seen the potentially deadly disease cause a wave of panic to travel and movement around the countries afflicted so far. With the number of global cases now close to 200,000 and the death-toll around 7,000.
The consulting industry has already been noticeably impacted by the global pandemic in a number of ways. Consultants are regular travellers, making them particularly susceptible to the virus’ spread, while the financial downturn the pandemic seems almost certain to provoke will likely have a large impact on their revenues.
“Customers are unsettled about the possible effects on employees, customers and the economy,” said Kai Bender, Head of Germany at Oliver Wyman, to German-language business newspaper Handelsblatt.