Question

A comparative study was done on the ways in which companies employed outside advices in solving their business cases. The findings from the studts.indicated that firms in UK were more open in choosing Consultants as their first choice in comparison to Italians Firms, which turned to family and fithends first. Statistics indicates that UK Accounts for 24% of European Consulting Market whereas Italy accounts for just 3% of the European Consulting Market. Why do you think that is there a difference in approach of Companies located in UK vs Italy. List any THREE key points.

Answer 1

The difference in approach of companies located in the UK and Italy when it comes to employing outside advisers in solving their business cases can be attributed to cultural differences, economic factors, and the educational system. UK companies value professionalism and specialization, which is reflected in their preference for consultants. Italian firms rely more on personal relationships and trust, hence turning to family and friends first.

Step-by-step explanation:

There are several key differences in the approach of companies located in the UK compared to Italy when it comes to employing outside advisers in solving their business cases.

1. Cultural Differences: The difference in approach can be attributed to cultural factors. In the UK, there is a greater emphasis on professionalism and specialization, which makes companies more open to choosing consultants. On the other hand, Italian firms rely more on personal relationships and trust, hence turning to family and friends first.
2. Economic Factors: The statistics show that the UK accounts for a much larger share of the European consulting market compared to Italy. This indicates that there may be more established and reputable consulting firms in the UK, making them the preferred choice for companies seeking outside advice.
3. Educational System: The educational system in the UK is known for its emphasis on critical thinking, problem-solving, and analytical skills. This may result in UK companies being more inclined to seek expertise from external consultants to address complex business cases.