Merel Jansen

What do consultants do? Have you ever tried to explain your job to a thirteen year old? Recently I had a date with a friend’s godson to answer his questions ‘about money’ – as a payment professional, I often answer these types of questions (from young people AND adults). But I wasn't prepared to answer fundamental questions about consulting. So what is it that I do, exactly? This is how I explained management consulting: Consultants are invited to help a business at a point in time when things are changing. Or when they need to change. Maybe the company isn’t growing as much as it used to be growing. Or maybe the company can’t keep up with demand from its customers, and as a result employees are trying to do too much, so they are making mistakes and the product has flaws. Usually we work with the executives, the CEO or perhaps the people who work for the CEO. The kinds of people who have to make hard decisions. Our job is to help them identify their options. Consultants often have expertise, past experience, and relevant perspective from outside the company which can bring clarity to difficult situations. There are usually a handful of realistic solutions to the client’s challenge. Perhaps even more importantly, we evaluate what the potential consequences of each of the possible solutions might be. For example: 👉 If they pursue opportunity A do they have the right kind of skills and expertise, or will they have to partner with another company, or maybe buy another company? 👉 Or perhaps, they have much more demand for their product in another region of the world, and much less in the U.S..Therefore, they have to reduce their operations here – and layoff some people that have worked for them for a very long time. These are often very difficult decisions to make. They usually involve making trade offs between results now, versus being patient and achieving results later. Investors typically aren’t very patient, which makes it even more stressful for the executive. But once we have the answer, or potential answer, that’s not enough. One of the hardest things that consultants do is to describe the potential solution in a way that our clients can hear us. And in a way that the company’s management team can believe it and its employees can deliver it. That usually involves data and good storytelling - that’s why both numbers and words matter. People think business is about numbers. It often is. But those numbers have consequences for people. And that’s a part of my work that I really value. How would you explain YOUR job to an inquisitive, smart, but naive thirteen year old? P.S. - This is Nate. He asks good questions.

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Embracing the power of connection! 🌐 At Deloitte, we believe in the transformative impact of dialogue and collaboration. Join us as we engage in conversations with both internal and external industry leaders, discussing trends in tax and trade in a digital landscape that creates both complexity and opportunities, and it's the latter that we want to focus on... Let's identify synergies and efficiencies across Tax & Trade together. During our first serie, Liesbet Nevelsteen and Dries Bertrand will be kicking off the conversation with insights from industry expert Ingeborg Molenaar of Cargill. Curious to learn more? Subscribe below to join the conversation: #FivePartSerie #SeriesKickoff #ExploringTaxTradeTrends #Collaboration #DigitalTransformation

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The UK Government’s Autumn Budget on 30 October 2024 has drawn extensive speculation over expected tax policy changes. Will there be a change to Carried Interest Tax and how will this impact private equity firms? Be the first to receive our reactions on the day of the announcement: https://lnkd.in/e4F_WHAD #ExpertswithImpact #Budget2024

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Now that the Financial Reporting Council (FRC) has published the 2024 UK Corporate Governance Code (Effective 2025), will this in fact be another version of the US Sarbanes-Oxley Act of 2002 (what many have called “UK SOX”) or will this be something completely different? While both these frameworks have similarities in promoting transparency, accountability and integrity in corporate conduct, there are notable differences in their approaches and execution. Take a look at Protiviti’s cheat sheet here and feel free to connect with our experts to discuss more. https://lnkd.in/eYuHVBhG

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Everyone needs to eat, but food is becoming less affordable for some. The #Deloitte Food Frugality Index is a monthly proprietary measure of consumer behaviours associated with financial stress. The measure looks at how these behaviours are shaping the way consumers shop for food. - Frugality among surveyed UK consumers dipped slightly as fewer consumers bought less than wanted (partially offset by more tradeoffs) and more made premium choices. - The UK is near the bottom among countries for the number of consumers using three or more frugal behaviors (29%).  - However, there seems to be a surge in the number of consumers expecting higher grocery prices next month (68% which is up 13 pp from the June low point)

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🔗 Creating transformative outcomes requires a joined-up approach across an organisation. Explore PwC UK's insights on how strategic interconnections across workforce, technology and transactions have the power to accelerate change in this FT Partner Content editorial. https://bit.ly/3SohG9o #BeTransformative #HumanLedTechPowered #Transformation

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I totally agree. Critical national infrastructure and integrated transport go hand in hand. We need to get people out of cars and off aeroplanes. This is where capital markets are failing to deliver.

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Don't Let Your Major Programme Get Left Behind: Why Continuous Strategy is Key 🔑 Major programmes are marathons, not sprints. It's tempting to lock in a strategy at the starting line and assume you're good to go. But in today's high VUCA (Volatility, Uncertainty, Complexity and Ambiguity) environments, that's a recipe for failure. Here's why embracing continuous strategy is essential for major programme success: 🤸‍♂️ Agility is Everything: The world changes, fast. Continuous strategy allows you to adapt to new information, risks, and opportunities, keeping your programme relevant and on track. 🌍 Horizon Scanning: Don't wait for things to go off the rails! Horizon Scanning helps you identify and address potential issues before they become major roadblocks. 📣 Act: Often risks are identified but seldom acted upon until these risks transition into issues with a direct impact on the programme’s outcomes. Remember, a static strategy is a vulnerable strategy. Embrace continuous strategic thinking and set your major programme up for success! 📈 Vidandha Galgamuwa Prasanth Punnanikattu Ozgur Odemis #majorprogrammes #strategy #agile #projectmanagement #leadership #changemanagement #ProgrammeAerodynamics #Deloitte

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See our latest publication on the new #CS3D regs.

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To lift the economy out of the low growth and low productivity environment, the UK needs to have a well defined Industrial Strategy. A new report out from @PwC_UK - which surveyed over 1200 of the UK's senior business decision-makers and interviewed more than 60 business leaders - is set to address that. Find out what it says here and get in touch if you'd like to know more. #IndustrialStrategy

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Are you a founder looking to scale your business? KPMG UK posed questions to local leaders, founders and key influencers from the tech ecosystem in the North West to help businesses just like you! Their first report 'Wiring the North West for venture scale growth' distills their views into a playbook for founders and more. Download the report for a 5-step plan on how to scale your business: https://lnkd.in/gbzhia3Y

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To achieve net zero, ambitions and actions need to align. PwC UK's analysis on the decarbonisation plans of FTSE 100 companies, delves into the structures, policies and processes that they have in place to deliver on their net zero ambitions. Explore the article to find out what actions define companies that are performing well and five ways to accelerate decarbonisation: https://pwc.to/3CVocjc #FTSE100 #Sustainability #NetZero

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What's the M&A outlook for the rest of the year? Gurm Dhillon discusses how management teams are once again considering M&A as a strategic option after a period of cost-cutting and building up cash. Watch the full video to hear more https://deloi.tt/3Je4MpJ #DeloitteDealsMarketOutlook #DeloitteMandA

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Nearly one-in-five UK-listed companies issued a profit warning in past year. ➡️ EY-Parthenon report reveals that 49 profit warnings were issued by UK-listed companies in Q2 2024, the lowest quarterly total since Q2 2021 ➡️ A fifth of profit warnings in Q2 2024 were from companies in the FTSE Industrial Support Services sector ➡️Rising costs were cited by more than a quarter of businesses as a key driver behind warnings in Q2 2024 Read more 👉 https://lnkd.in/eaHj2jzR #BetterWorkingWorld #EYUK

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The Consumer Duty Goldmine: Customer Insight is Your Secret Weapon Some companies have approached the FCA's Consumer Duty with a "tick-the-box" mentality. That’s not just our opinion. An EY partner we spoke to in 2023 said he believed that 80% of the firms he had spoken to were going to adopt a minimal compliance approach. In an industry where every customer segment is fought over fiercely, and a few percentage points gain or loss in customer retention can increase, or reduce, profits by millions, this is mystifying. Let’s be crystal clear. Being customer-centric is not a strategic decision; it’s an imperative. A truly customer-centric business focuses on understanding and listening to customers and has an operating model designed to maximise the value of that mindset and culture. The smartest leaders understand the significant advantage this gives them over competitors who don’t operate this way. There is substantial evidence to back this up. Here are a few examples: • McKinsey’s research found that 70% of buying experiences are based on how a customer feels they are being treated. • CEI research found that 86% of buyers will pay more for a better customer experience. • RightNow’s CX Impact Report stated that 89% of consumers stopped doing business with a company after experiencing poor customer service. And if nothing else seals the deal, then decades-old research by Bain & Co, working across a base of thousands of customers, showed that a modest increase (5%) in customer retention levels resulted in a disproportionately high uplift in profit and value (between 20% and 125%). Aside from common sense, the numbers dictate that a customer-centric strategy approach is the best route to increasing customer trust, loyalty and retention. Therein lies future success. Beyond compliance: building stronger relationships Consumer Duty isn't just about meeting regulations; it's about building trust and loyalty with customers. By actively understanding their expectations, and acting in a way that shows alignment with what matters to them, firms foster a deeper connection that goes beyond basic compliance. There’s nothing warm and fuzzy about this - the outcomes for firms that take this seriously are tangible and of high value. Those who take a lead will send out powerful messages that will reap rewards. They will demonstrate to their customers that they are important and valued. They will demonstrate to employees (and potential employees) that they are a good place to work. They will gain a significant advantage over competitors. They will show the FCA they’re serious. Visit our website to learn more about building strong customer relationships: https://lnkd.in/eAzBZ3p7 . . #ConsumerDuty #CustomerExperience #CustomerCentricity #PromisingOutcomes

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Understanding the strategic implications, opportunities and risks associated with AI is a top priority for business leaders. 🔓At PwC UK we are working with clients and tech-powered alliances to unlock the potential of AI and deliver real value, at speed.  Find out how we could help your business ➡️ https://pwc.to/4dzfJ1O #HumanLedTechPowered #AI #Technology

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