Philadelphia Consulting Firm

Consulting Firms in Philadelphia, PA

April 1, 2022

Dispelling The Myths Of Consulting

There are many myths in circulation that warn against the use of consultants, many times driving organizations away from seeking help that they may very much need. This blog will explore some of the common myths that surround the hiring of business consultants and dispel those misconceptions.

Consultants will tell you what you already know. Many have heard the phrase, “Consultants will just steal your watch to tell you the time.” In reality, many business owners may have some ideas about why their business is underperforming that reflect symptoms of the problem, not its root cause. At MFR, we take those ideas into consideration as part of a comprehensive, data-driven analysis to get a full picture of the challenges – and the opportunities – that an organization faces.

Consultants give every client the same advice. Many believe that consultants enter a project, regurgitate information that they already know, and leave clients with a visually pleasing presentation that was used for their past 5 engagements. This could not be further from the truth for MFR. While our consultants use knowledge gained from past engagements, every project is specifically tailored to the organization we are working with.

The consultant you hire already knows all the answers. While we may want to believe that we know everything, in reality, we don’t. Every project takes a unique team effort to complete, with research being an important component of most engagements. The goal of MFR’s consulting teams is not to answer every question that a business may have up-front, but to engage with our client and gather all available information to find tailored solutions for their organization. We don’t begin with a pre-conceived notion of what the solution should be. Rather, we work to “connect the dots,” analyzing a particular issue thoroughly – wherever it takes us – in devising the best solution possible for your organization.

You can’t trust an outsider to help your business. In reality, the reason you hire a consultant is to get an outside, objective perspective on the issues that your organization is attempting to address. In many cases, it’s difficult to take a step back and think through solutions to strategic challenges while managing day-do-day operational demands. While it may be challenging to let an outside party take a deep dive into your organization’s operations, at MFR our mission is to “empower our clients to create meaningful solutions to successfully met their challenges.” The measure of our success is the success of our clients.

Consultants are expensive and only for big businesses. Concerned that consultants are too expensive or not right for your situation? Just like companies, consulting firms come in many different shapes and sizes – the key is to find a consulting firm that’s a good match for you. At MFR, we believe that all organizations – from large public companies and government agencies to small business, should have the opportunity to benefit from digital transformation and process optimization. We work with our clients to appropriately scope projects to meet their needs while fitting within their time and financial constraints.

The Infrastructure Bill And ESG

The once-in-a-generation investment into America’s infrastructure through the Bipartisan Infrastructure Law will bring $550 billion in new federal investment to the people and places that make our country function. The goals of this funding are to improve infrastructure, support supply chains, and create jobs. These improvements are much needed considering the state of our nation’s outdated infrastructure and will likely bring positive outcomes to citizens. One positive result of the Infrastructure Investment and Jobs Act (IIJA) is an increase in funding for climate-related matters, which is a critical component of Environmental, Social, and Governance (ESG) considerations. ESG standards and frameworks are increasingly used by investors to evaluate potential investments. As municipal debt issuers, state and local governments stand to improve their ESG profiles through IIJA-funded projects. The US has lagged behind Europe in ESG adoption. With this massive investment, our country has the potential to make meaningful progress toward sustainability. Regarding the environmental component of ESG, the infrastructure bill has allocated funding to tackle the climate crisis, making it the largest investment in clean energy transmission and Electric Vehicle (EV) infrastructure in history. The funds aim to electrify buses used for mass transit, further develop and expand our country’s EV charging stations, and modernize electric grids among much else. Aside from the general allocation of funds, localities will have a chance to be awarded this funding through a competitive grants process for projects related to “Climate, Energy, and Environment.” Along with the environmental component, the infrastructure funds can also improve the social component of ESG. Lack of access to transit, clean water, and broadband are significant issues for many, and projects within these categories will seek to address these disparities. If, rather than one-time projects, the investments made through the IIJA funding are viewed as the start of a more equitable, long-term strategy for improving infrastructure in sustainable and resilient ways throughout the 21st century, this funding also has the potential to positively impact the third component of ESG – governance. The IIJA offers the opportunity for the US to demonstrate its commitment to sustainability to both its citizens and the world. Hopefully this opportunity will be realized through the collective actions of IIJA funding recipients.
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MFR Consultants is a Philadelphia headquartered Consulting Firm. We know that local businesses needs a local consultant to fully understand Philadelphia, our communities, our customers, and our way of life.
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