Dhruva Advisors: Culture as North Star of Growth

2019 ◽  
pp. 1-19
Author(s):  
Sunil Sharma ◽  
Parvinder Gupta
Keyword(s):  
Organization Design ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Professional Service Firms ◽  
New Members ◽  
The North ◽  
Big 4 ◽  
Set Up ◽  
Founding Team

The case describes the first four years of Dhruva, a tax advisory firm set up by Dinesh Kanabar, ex-Deputy CEO of KPMG. Dinesh and other founding partners had worked with the Big-4 firms and were familiar with some of the tensions in the overall ecosystem of Professional Services Firms. Dinesh wanted to build a distinctive professional service firm driven by values of cooperation, high quality work, transparency and stewardship. Very early in its journey, Dhruva's founding team decided that they would use organizational culture as the North Star for guiding decisions related to growth, internal organization design and even admission of new members including Partners. The first four years turned out to be highly successful for the firm. Since inception, it was ranked as Tier-1 firm in the tax advisory space. It was apparent that the firm had succeeded in building a model of alternate organizational paradigm for professional service firms. The next challenge was to test the scalability of this model as the firm embarked on an ambitious growth journey.

scholarly journals Segmentation of quantity surveying professional services for focus strategy and diversification

2019 ◽  
Vol 24 (3) ◽  
pp. 294-308
Author(s):  
Michael Adesi ◽  
De-Graft Owusu-Manu ◽  
Frank Boateng
Keyword(s):  
Oil And Gas ◽  
Sampling Technique ◽  
Simple Random Sampling ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Professional Service Firms ◽  
Content Type ◽  
Quantity Surveying ◽  
Focus Strategy

Purpose Notwithstanding that numerous studies have focused on strategy in quantity surveying (QS) professional service firms, there is a paucity of investigation on the segmentation of QS professional services. The purpose of this study is to investigate the segmentation of QS services for diversification and a focus strategy formation. Design/methodology/approach This study adopts the positivist stance and quantitative approach in which a simple random sampling technique was used to select participants. In total, 110 survey questionnaires were administered to registered professional QS, out of which 79 completed questionnaires were returned for analysis. Findings The paper identifies three main QS service segments characterised by low, moderate and high competition. In addition, this study found that the concentration of traditional QS services in the building construction sector is due to the unwillingness of QS professional service firms to diversify into the non-construction sectors such as oil and gas. The diversification of QS services in the low competitive segment requires the adoption of agile approaches. Research limitations/implications The study was limited to numeric analyses and so would be complemented by qualitative research in the future. Practical implications This paper is useful to QS professional service firms interested in diversifying their services into the non-construction sectors to enhance the pricing of their services. Originality/value Segmentation of QS services is fundamental to the formulation of focus strategy for non-construction sectors such as oil and gas and mining to enhance the pricing of QS professional services.

ORGANISING FOR INNOVATION IN PROFESSIONAL SERVICES FIRMS: ECONOMETRIC EVIDENCE FROM THE UK

2021 ◽  
Author(s):  
JANE BOURKE ◽  
STEPHEN ROPER ◽  
JAMES H LOVE
Keyword(s):  
Information Sharing ◽  
Principal Component ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Work Practices ◽  
Professional Service Firms ◽  
Econometric Evidence ◽  
Managerial Implications ◽  
The Uk

Undertaking innovation involves a range of different activities from ideation to the commercialisation of innovations. Each activity may have very different resources and organisational requirements, however, most prior studies treat innovation as a single un-differentiated activity. Here, using new survey data for professional service firms (PSFs) in the UK, we are able to examine separately how a range of organisational work practices influence success in ideation and commercialisation. In particular, we use principal component analysis (PCA) to identify and compare the benefits of four groups of organisational work practices relating to strategy & information sharing, recruitment & training, work flexibility & discretion and culture & leadership. Strong contrasts emerge between those work practices that are important for success in ideation and commercialisation. Work practices linked to culture & leadership are important for ideation activities, while strategy &information sharing practices are more strongly associated with commercialisation success. The results suggest clear managerial implications depending on the priority

Entrepreneurship and Professional Service Firms

2015 ◽  
Author(s):  
Markus Reihlen ◽  
Andreas Werr
Keyword(s):  
Professional Services ◽  
New Venture ◽  
Professional Service ◽  
Levels Of Analysis ◽  
Service Firms ◽  
Professional Service Firms ◽  
Entrepreneurial Opportunities ◽  
Entrepreneurial Firm ◽  
Venture Management ◽  
Entrepreneurial Team

Research on entrepreneurship in professional services is rather limited. The authors argue that one reason why the two fields of professional services and entrepreneurship have operated in isolation rather than in mutual interaction is an inherent contradiction between the very ideas of entrepreneurship and professionalism. The perspective on entrepreneurship for this chapter is rather broad, focusing on new venture management and renewal in Professional Service Firms as well as embracing aspects such as learning, innovation, and institutional change. The chapter reviews previous work on entrepreneurship in professional services from three levels of analysis—the entrepreneurial team, the entrepreneurial firm, and finally the organizational field within which the creation and exploitation of entrepreneurial opportunities take place.

scholarly journals Between contestation and collaboration: The internal dynamics of multidisciplinary accounting firm responses to institutional pressures

2020 ◽  
Author(s):  
Yvette Taminiau ◽  
Stefan Heusinkveld
Keyword(s):  
Professional Service ◽  
Institutional Pressures ◽  
Service Firms ◽  
Professional Service Firms ◽  
Internal Dynamics ◽  
Accounting Firms ◽  
Professional Groups ◽  
Big 4 ◽  
Professional Fields ◽  
Firm Responses

Abstract The colonization of adjacent professional fields has been considered as crucial to understand the success and influence of large accounting firms, such as the Big 4. Yet, given the complexities of managing different professional groups, remarkably little is known about the internal dynamics behind large multidisciplinary accounting firms’ external responses to institutional pressures. In this article, we show how exogenous coercive pressure, such as regulation (in this case Dutch accountancy regulations), not only affect the day-to-day work of accountants, but also that of non-accountants such as tax advisors. From the perception of the tax advisors who confront regulations which are not ‘theirs’, we show how their internal responses evolve and tread a fine line between contestation and collaboration with their colleague accountants/auditors. Using a boundary work perspective, we examine this shift in responses and explain how tensions between professional groups may be reduced. Overall, our study not only furthers our insights into the internal dynamics behind professional service firms’ external responses, but also sheds light on why professional groups stay on board despite unfavorable internal conditions.

scholarly journals Protectionism through legislative layering: Implications for auditors and investors

2021 ◽  
Author(s):  
Anna Alon ◽  
Oksana Kim
Keyword(s):  
Import Substitution ◽  
State Ownership ◽  
Professional Service ◽  
Stock Exchanges ◽  
Service Firms ◽  
Professional Service Firms ◽  
Big 4 ◽  
Audit Firms ◽  
The Government ◽  
Global Investors

AbstractProtectionism is on the rise. Although it tends to be associated with tariffs on imports, governments are increasingly applying other mechanisms to influence international business. Import substitution initiatives have been used to replace purchases from foreign producers with local alternatives. Russia implemented import substitution through legislative layering where layers of regulation created requirements targeting different industries and companies. Following sanctions imposed in 2014 on Russia, the government responded with additional import substitution efforts. We are interested in effects of such measures on the Big 4, global professional service firms, and the choice of auditors by partially privatized enterprises (PPEs). PPEs have more complex multilevel agency problems because it is less clear who is in charge. We find that companies with state ownership were more likely to switch away from the Big 4, and this was more pronounced for companies in strategic industries. It also contributed to companies switching from the Big 4 to the next tier of audit firms. After 2015, PPEs were less likely to receive a modified audit opinion on IFRS audits. However, auditor changes did not occur at the cross-listed enterprises that are under enhanced monitoring from global investors and foreign stock exchanges.

An emerging market perspective of what makes professional service firms successful

2020 ◽  
Vol 17 (1/2) ◽  
pp. 57-78
Author(s):  
Felix Nana Abaka Sackey ◽  
Livingstone Divine Caesar
Keyword(s):  
Emerging Markets ◽  
Positive Impact ◽  
Emerging Market ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Strategic Partnerships ◽  
Professional Service Firms ◽  
Content Type ◽  
The Impact

Purpose Despite the criticality of strategic partnerships to the survival and success of professional service firms (PSF) in emerging markets, there is a dearth of research on the subject matter. Specifically, not much is known concerning the dynamics of partnerships among small and medium-sized enterprises (SMEs) in the professional services sector of the economy. This paper aims to explore the dynamics of the impact of constructs such as attributes of partnership, communication behaviour and collaborative conflict resolution on partnership success. Design/methodology/approach A quantitative survey sent to 300 small and medium-sized PSFs achieved a 79% response rate. The data is then analysed using bivariate and multi-variate techniques. Findings The results revealed a positive relationship between two of the three constituents of attributes of the partnership (i.e. commitment and coordination) and the success of partnerships. Commitment and coordination emerged as the significant attributes of partners that affect the success of the partnership. Contrary to previous studies, trust and information sharing did not have a positive impact on partnership success. Practical implications PSFs in emerging markets need concerted efforts to maintain competitive and sustainable partnerships. To make any significant impact, they must develop contemporary skills in collaborative conflict management. Originality/value This paper highlights the need for PSFs and SMEs in other service sectors of emerging markets to harness partnerships as a valuable tool to overcome the policy shortcomings of current regulatory frameworks within their respective markets.

Sources of Homogeneity and Heterogeneity across Professional Services

2015 ◽  
Author(s):  
Andrew von Nordenflycht ◽  
Namrata Malhotra ◽  
Timothy Morris
Keyword(s):  
Empirical Research ◽  
Organization Theory ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Professional Service Firms ◽  
Firm Level ◽  
Sociology Of Professions ◽  
Organization And Management

Research on Professional Service Firms (PSFs) has tended to treat them as homogeneous and to assume there are similarities in how they are organized and managed. This assumption has been challenged recently as scholars have drawn attention to organizational differences stemming from sources of heterogeneity. The authors argue that rigorous theorizing about the organization and management of PSFs requires an understanding of sources of both homogeneity and heterogeneity and their specific implications. They synthesize insights from the sociology of professions literature and the economics and organization theory literatures to distil key sources of homogeneity and heterogeneity. They also identify firm-level characteristics that drive heterogeneity within a particular professional service. The authors propose an overarching framework of sources of homogeneity and heterogeneity that helps interpret the generalizability of existing research and has the potential to better inform future empirical research on PSFs.

Quality systems in health care: a situational approach

1998 ◽  
Vol 11 (2) ◽  
pp. 65-70 ◽  
Author(s):  
J.D. van der Bij ◽  
T. Vollmar ◽  
M.C.D.P. Weggeman
Keyword(s):  
Health Care ◽  
Quality Control ◽  
Quality Management ◽  
Iso 9000 ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Quality Systems ◽  
Professional Service Firms ◽  
Professional Service Firm

Many views on quality management in professional service firms derived from ideas of industrial quality management. It seems that in the area of professional services these ideas are taken over without much criticism. For instance, the ideas on quality control and quality assurance generally are heavily based on the ISO 9000 standards. In The Netherlands the PACE‐standards have been deduced from the ISO 9000 standards for application in hospitals. In this paper it has been argued that in many cases a more situational approach will be preferable. A global framework for a quality system in a professional service firm has been presented.This framework has been compared with the restrictions for quality systems in hospitals, following from the PACE‐standards.

Sociological Analysis of Professionalism: Past, Present and Future

2011 ◽  
Vol 10 (1) ◽  
pp. 1-37 ◽  
Author(s):  
Julia Evetts
Keyword(s):  
Armed Forces ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Sociological Analysis ◽  
Professional Work ◽  
Professional Service Firms ◽  
Long Time ◽  
Anglo American ◽  
Commercial Organizations

AbstractFor a long time, sociological analysis of professional work has differentiated professionalism as a special means of organizing work and controlling workers and in contrast to the hierarchical, bureaucratic and managerial controls of industrial and commercial organizations. But professional work is changing and being changed as increasingly professionals (such as doctors, nurses, teachers, social workers) now work in employing organizations; lawyers and accountants in large professional service firms (PSFs) and sometimes in international and commercial organizations; pharmacists in national (retailing) companies; and engineers, journalists, performing artists, the armed forces and police find occupational control of their work and discretionary decision-making increasingly difficult to sustain. This paper begins with a section on defining the field and clarifying concepts. This is followed by a second section on the concept of professionalism, its history and current developments. The third section discusses convergences between Anglo-American and Continental European systems of professions and the general, wider applicability of particular explanatory theories and analytical concepts in the field. Section four examines internationalizing processes affecting professions. Markets for professional services are increasingly international and professional regulation is now a matter for international professional federations as well as national and regional states. The final section provides summary and considers consequences for aspects of professionalism as an occupational value in the global world.

scholarly journals How to Develop Collaboration in Drug Development Process: The Role of Professional Service Firms

2021 ◽  
Vol 14 (4) ◽  
pp. 114
Author(s):  
Rosangela Feola ◽  
Valentina Cucino ◽  
Roberto Parente
Keyword(s):  
Development Process ◽  
Business Development ◽  
Professional Service ◽  
Service Firms ◽  
Professional Service Firms ◽  
Development Professionals ◽  
Engagement Process ◽  
Set Up ◽  
Collaboration Process ◽  
Start Ups

The innovation chain of the pharmaceutical industry is more and more complex.  In particular, a new type of players, the start-ups founded by researchers (Academic Start-ups) have proven to be particularly effective in the first steps of exploring new, radically innovative technologies. These small start-ups miss the financial resources and the industrial experience necessary to embark in the later stage of technologies’ development. To overcome these limits, what academic start-ups require the most is a collaborative linkage with large biotech and pharma companies. To such end, Business Development Professionals are offering their services to academic start-ups, to set up a collaborative linkage with potential partners. Our article investigates the process of engagement between Academic Start-ups and Business Development Professionals and in particular, we focus on the factors that influence collaboration between the two actors. In order to investigate the development process of collaboration we conducted an exploratory study trough the submission of a semi-structured questionnaire covering different aspects of the engagement process to a sample of business professionals. The study provide first evidences about the main factors that prevent the development of collaborations and provides some suggestions to overcome the challenges that both parts found in the collaboration process.

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