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Researching the Role of Human Capital in the Consulting Arena
For Russell Coff, associate professor of organization and management, balancing the demands of research and teaching while keeping a handle on what corporate managers are actually doing takes a tremendous amount of discipline. However, it is a juggling act he believes is critical to his profession and the advancement of knowledge in the field. Coff focuses his work on the value of human capital, i.e., what employees represent to a business. His research in this arena figures prominently in the world of consulting—a field absorbed in solving corporate America’s organizational problems.
“Much of the work that I do in human capital deals with problems relevant to management consulting. Companies don’t always think of their people assets, and they aren’t represented in the financial statements. But, they’re critical.”
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Whether looking at the fallout of a merger & acquisition or analyzing a knowledge-based advantage—key areas of his research—Coff says that one of the most important factors in these and many other business situations is just how well a company’s employees are trained, managed, and deployed. He adds, “Much of the work that I do in human capital deals with problems relevant to management consulting. Companies don’t always think of their people assets, and they aren’t represented in the financial statements. But, they’re critical.”
Before his academic career, significant publishing credits, and various awards for management studies, Coff spent a decade serving as a consultant providing strategic planning and litigation economics services to companies across the U.S. This real-world expertise in the consulting field served as a catalyst for his current work. “I became interested in just what happens when people leave a firm,” says Coff. “Essentially, the firm’s assets would depreciate. I began work on whether or not goodwill, or the firm’s name and reputation, could be sustained. In a brokerage firm, for instance, former employees might take business or clients with them.”
His prior research covers a broad range, exploring three key management categories: strategic uncertainty, competitive advantage, and corporate strategy. One aspect of Coff’s work looks at the way firms manage strategic investments, especially their human capital, in periods of great uncertainty. He also centers his research on the best way to manage and organize people to retain a competitive advantage. Now, he is set to take the helm as chair-elect for the business policy and strategy division of the Academy of Management.
While teaching courses in corporate strategy, industry and competitor analysis, and organizational behavior at Goizueta, Coff notes that he remains true to the concerns of everyday managers and consultants, passing on this knowledge to his students. He adds, “As a researcher, my goal is to build theory. But you have to fill in the gaps between theory and reality.” To that end, Coff is at work on research that uses the well-known Black-Scholes options pricing model and applies it to an organizational problem in an R&D or tech company setting. Coff concludes, “It’s truly about an applied way of thinking.”
Consulting Business 438
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For a corporate executive, acumen in organization and management is essential. But, for an entrepreneur running a consulting company, says Koichi Sugiyama 92MBA (left), these skills are especially critical for running one’s own concern and offering advice to clients. Sugiyama should know; he founded Sugiyama Management Development Ltd. in 1997. This Tokyo-based company handles organization problems, human resources management, productivity improvement, and employee leadership training for client companies based in Japan. Currently, Sugiyama is considering business opportunities in Thailand, Russia, and South Korea.
Sugiyama does client work on a per project or retainer basis, in addition to handling assignments through business alliances with other consulting and training service firms. Being nimble and setting up a flexible organizational structure have certainly contributed to his success. He credits Goizueta for providing him with essential tools, knowledge, and strategies, noting, “The experience changed my life. Having the MBA from Goizueta is very important in my business.” Originally from Shizuoka, Japan, Sugiyama says he came to Goizueta not only for the wonderful location, but also because of the “content of the coursework.” In addition, networking opportunities at the school paid off. Eric Martin 90BBA was working for the global consulting company Hay Associates in their Atlanta location, and he gave Sugiyama an inroad to a summer internship in their Tokyo office. This initial position laid the groundwork for his current venture in consulting.
Rick Wallace 01EvMBA began his professional career in commercial insurance, working on the underwriting side for such firms as Zurich Insurance and Liberty Mutual. He then made a desired career shift to consulting, becoming a senior business strategy consultant with IBM Global Business Services, a division of Big Blue, after graduation from Goizueta in 2001. Says Wallace, “The collaborative approach in which Goizueta trains students academically is easily transferable into how consultants engage one another to develop client solutions. The strategic analysis required at Goizueta is intricately intertwined into my day-to-day thinking when addressing my clients’ needs.”
Since joining IBM Global Business Services in Atlanta, Wallace has worked with such notable clients as Prudential, Allstate, and SunTrust on their strategic, technological, and organizational needs. He also holds the post of university recruiting program manager for the company in their Strategy and Change (S&C) consulting practice, overseeing MBA and undergraduate hiring.
He notes, “The consulting industry is very healthy, and competition for talent is fierce, as many of the leading firms are lobbying for the cream of the crop from the top tier business schools.” While Wallace says that the field can be demanding, one of the more exciting aspects of the job is “developing a team that can work together to create a strategy that enables the client to see immediate and tangible results.”