pwc final draft
TRANSCRIPT
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Project by:Bharat KhetanKapil Dhingra
Laksh Bhambhani
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Acknowledgement
We would like to thank our teacherMs Aastha Devan, without whoseguidance and motivation this couldnot have been possible. Thank you
maam.
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Index
Introduction
Importance of the study
Objectives of the study
Findings and Analysis
Conclusion References
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Introduction
Consultancy firms in India have been anintegral part of the corporate world for thepast many years. The trends inmanagement of the businesses todayhave shown a quantum change, a changewhich has been more profound in India
than anywhere in the world. It is true thatIndia has started losing indigenousbusinesses and furthermore India is on thedoorstep of realizing the new trends in thecorporate sector such as outsourcingmajor departments like tax planning andIT itself.
There is a severe need for us, the businessstudents to understand what kind ofservices exactly a consultancy firmprovides. To know better about theprecise kind of work a consultancy firm
does, and to alleviate that unstoppablequestioning from within, it dawned uponus to work up our knowledge about asimple question
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What is a Consultancy Firm, and whatdoes it do?
Consultancy firms, for us group memberswas like a permanent question mark. Theywere a band of companies providingservices so titanic in nature that it wasdifficult to find answers so as to how theymanage their work. So we mutuallydecided to decipher the puzzle ofmanagement and working of aconsultancy firm.
We decided to research on one such firm,and indisputably found our way to PriceWaterhouse Coopers. This firm holds an
undoubted top position in the globalmarkets.
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Importance
In simpler language, consultancy firms arethose organizations, which provide expertadvice in technical aspects of thebusiness.
We are business students who will be
recruited for internships and finally mightgo in for placements. In this ever socompetitive world, we have to discoverour vision, and as it is rightly put Blindare better off than those who have novision. To be better managers we haveto understand the needs of the
organization in which we will be workingfor.
As experienced by all of us, and as iswritten here before, the businesses todayare changing their orientation in a manner
where they prefer to outsource thanemploy the best brains. This is both,beneficial to those who have employedthe experts and to those who are usingthe services of the consultancy firm.
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Thus, to suite the needs of theorganization in which we go and work, we
will have to customize ourselves for them.Seeing the needs of our organization, wemight have to work tomorrow insynchronization with a consultancy firm,or another scenario, we might just end upbeing employed by a consultancy firmitself. And that is why we feel that it is ofutmost importance for us to learn thefeatures, the working, the values and theservices of such consultancy firms.
Surely, it is an unarguable fact thatconsultancy services are a boon to the
current state of businesses all over theworld and India is going through therealization of this scenario. In the fastgrowing Corporate Jagat, we need tokeep ourselves well versed with the newemerging tactics of efficient management.
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Objective
Firstly, our objective was to learn whatkind of services PwC provides to itscostumers. Through this we will learn howthey have found answers to problems ofmanagement. We found out that it catered
to as many as 7 facets of business whichare stated as below
Business Solutions
Crisis Management
Government Reforms and InstitutionalDevelopment
Internal Audit Services Tax and Regulatory Services
Technology Advisory Services
Transactions
Then we will analyze the sectors ofbusinesses it has and it can provide to.PwC has been managing for as much as
18 sectors in the corporate world
And we finally reached to what mattersmost to us; the environment in which they
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work, the ethics which they follow, thecommon set of values they instill in theirwork, the connected thinking they share
and the social responsibility they shoulder.
Thus, we took an overall outlook of how aconsultancy operates, what it can offer toits costumers and, finally, how PwC isdifferent and how it maintains the highstandards and quality.
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Findings and
AnalysisServices offered:
a. Business Solutions
Within Business Solutions, PwCaccommodates the following subheads
Finance Function Effectiveness
Human Resource Management
Supply Chain Management andOperations Improvements
E-Governance
Sustainability
Governance, Risk and Compliance
IT Risk Management
IT Effectiveness
Finance Function Effectiveness
Financial Management is the wheel ofthe cart. Any organization works on itsfinances and assets. In todays
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dynamic business environment wherecompetitive cost pressure is the norm,it is becoming increasingly important
for Finance Functions to demonstratetheir value-add skills to businesses andidentify the bottom line growthopportunities.
Our outlook of how PwC works onthe problem?
They do a detailed diagnostic of theexisting processes controlling cost,quality, efficiency, technology etc.
Then they identify if there is apossibility of standardization. That is, if
each and every product is trustablequality-wise and if that qualityproduction can be continued for a longterm. They check for improvement andre-engineering, means they will checkfor better technology, which mayfurther improve standardization andcost efficiency. This course of actioncan systemize the working and helpchange factors affecting extraneousoutflows.
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Leads to Short term winsEconomies
Peak Load Balance, maximumusage of new or existingresourcesChange in OrganizationalStructure
Expansion in breadth of reporting, increasein frequency of reporting
Leads to Frequency of CaptureData SourcesTarget performance levelsdefined within time periods,frequency of reporting leads tosqueezing more work into a
smaller period of time
The upper management is freed for solvingthe bigger picture, that is, to focus onbusiness issues. Excellence is the centerof operations. The firm should focus on themain idea or goal
Leads to Enhanced Costumer ServiceSpecialist SkillsImprove decision Support
Human Resource Management
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Human Capital is the biggest asset of anorganization, this is a well known and an
accepted fact worldwide. All organizationsneed HR management because human is ahuman and as thoughts and mindprocesses are always changing, so are themoods and the reactions to decisions andpolicies. This will keep on posing newerproblems for the organization.
Our outlook of how PwC works on theproblem?
With a strong multi competency HR team,PwC works closely with clients to offer
practical, multi-disciplinary approaches tocreate the right environment. With tax,legal, regulatory and assurance servicescapabilities, PwC supports organizationsthrough all aspects of human resourceservices, helping their clients to createvalue for their businesses through people.
Leads to Organization Transformationand DesignTalent ManagementHR Function Effectiveness
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Advisory OutsourcingBetter management while a
talent crunch
Supply Chain Management
The supply chain needs to be managedwell because that is how your product isgoing to move out in the markets. To havebetter supply chains, one needs to improve
flexibility in the chain. One might seebetter opportunities to leverage hisbusiness partner network.
Our outlook of how PwC works on theproblem?
End-to-End Supply Chain ReconfigurationSupplier relationship restructuringInventory managementInbound/outbound logistics management
The + and the of outsourcing ofsupply chain
Operational Planning
e-Governance
In the age of everything going electronic, acompany cant afford to stay in a JamaKhata style. With all these improvements,
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organizations require governance in atransparent manner on the electronicmedia. Mostly governments require
governance over the lower divisions, thus,we may perceive a level of government asan organization itself.
Our outlook of how PwC works on theproblem?
The e-Governance Practice can provideexpert support and solutions. It combinestechnology, capacity building and projectmanagement skills to help resolve issues,especially when government organizationsare facing problems with existingprocesses or there is capacity shortage toimplement a project or when they have the
desire to increase efficiency.
Strategic PlanningTo extract benefits from any e-Governanceinitiative, it is imperative that the initiativeis part of a larger strategic plan of thegovernment and forms part of a larger
reform agenda.
Government Process Re-engineeringTo optimize the benefits of e-Governanceinitiative, PwC helps clients undertake and
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implement process improvements/processre-engineering through proven approaches.
Project Structuring Translating a well articulated vision ofsuccess and sound strategy to a good andbankable project is the essence of projectstructuring. PwC helps structure projectsthat clearly define measurable servicedelivery outcomes
Program and Project ManagementPwC provides hand-holding support duringthe crucial stage of implementation. As apart of project management, PwCundertakes bid process management,continual monitoring and mid-coursecorrection, issue escalation and resolution
during project implementation stage,knowledge management etc.
Sustainability
An organization may require expert advicesin the areas of corporate governance andbusiness ethics, environmental health andsafety management, social responsibility,strategy and economics (climate change
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and clean development mechanism),responsible supply-chain management andreporting and assurance of non-financial
information. This sub head also answersthe problems of environment friendliness.
Our outlook of how PwC works on theproblem?
It creates a sustainability report saying howmuch time the business can sustainwithout damaging external ecosystem andinternal working conditions with existingprovisions and technologies.PwC does a diagnostic of the area andcomes out with better alternatives for theorganization and guarantees sustenancefor the long term
Transaction support; that is,Environmental, health and safety audits
These were some of the business servicesPwC offers. Apart from these, it gives theorganization, services related to IT. IT riskmanagement and IT effectiveness being
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the instrumental services, PwC alsodevelops customized software if requiredby the organization.
PwC finds solutions to all kinds ofmanagerial problems for running of thebusinesses. From planning short term orlong term to solving staff coordinationproblems, PwC is efficient at consultingbusinesses with action plans to jumpstartany small or big organizational plan.
b. Crisis Management
A highly competitive, volatile globalmarketplace is a double-edged sword,providing great opportunities for growthwhile presenting abundant sources of risk.Unpredictable and unwelcome events,
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either internal or external, can negativelyimpact even the most stable businesses. Acrisis can trigger serious problems,
including declining earnings, liquidity andcash-flow shortfalls. Lack of confidence andpressure from stakeholders, suppliers andcustomers, as well as regulatory scrutiny,demoralization of staff and reputationdamage are also major concerns. Adelayed or limited response to these issuescan be extremely damaging to thebusiness. The impetus and opportunitiesfor fraud are unfortunately increasing inthese times of great change while systemsstruggle to cope and keep up with thechanges in the business itself. Corporatecrime poses a real and substantial threat tothe stability of any business.
Our outlook of how PwC works on the
problem?
PwC combines forensic accounting andinvestigative skills to organizations that arefacing issues with financial and legal
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implications, to help make intelligent andinformed decisions.
I. EthiCall is an independent toll free
telephone call-in service run byPricewaterhouseCoopers designed toassist organizations in detectingfraud at an early stage
II. By performing review of thecompanies with a view to analyze theenvironment to identify and address
the risk of fraud, where necessaryIII. Employee Training Programs are
designed and delivered forcomprehensive trainings on fraudand related topics
IV. Internal Audit Services
d. Internal Audit Services
In the wake of some severe corporate
failures, expectations from Internal Auditare changing, and there is a clear shift inhow organizations view their corporategovernance and control environment.Share holders and audit committees are
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taking active interest in the effectivenessof Risk Management and Control Assuranceareas in their organization. Stakeholders
are increasingly demanding a higherdegree of transparency and ethicalbehavior.
Consequently, organizations areintroducing risk-based internal audit plans,which are designed to focus on criticalareas. Appropriate risk management
systems enable organizations to takeadvantage of opportunities whileeffectively managing the accompanyingbusiness risks. Managing loss potential,while consciously taking acceptable risksdirectly enables the management toprovide fair returns on investment.
Todays leading internal auditorganizations are no longer limited tohazard avoidance and compliance. Theyneed to demonstrate their knowledge onrisk management, business processimprovement, which is a characteristic of a
consultant rather than a classical internalauditor. Furthermore, internal auditors areno longer required to focus solely onfinancial audits. They increasingly need toprovide value adding support tomanagements across all areas of operation
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Our outlook of how PwC works on theproblem?
Internal Audit Services employs highly
skilled professionals, who can help solvemany of your common problems with theright solutions.
PwC can help organizations improve theirquality and effectiveness of internal auditprocess by:
I. Advising and assisting in thedevelopment of internal audit and riskmanagement methodologies
II. Assessing whether the internal auditfunction is delivering effectively tostakeholders
III. Providing internal audit resourcing
solutions, including full outsourcing orcomplementing in-house functionswith specialist skills or geographicalcoverage
IV. Supporting internal audit functionswith software to enhance and supporttheir work
V. Training for internal auditors using ourextensive market and industryknowledge
VI. Conducting internal by deployingsubject matter experts, who focus in
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industry-specific and technical riskareas.
d. Tax and Regulatory Services
Taxation is an important aspect ofbusinesses. In India, each organizationneeds extensive amount of tax planning. Itis an old saying Your business to the
government should be what a wet fish is toa naked hand. In this corporate world, withcut throat competition, and all-the-moredecreasing profit margins, there is a critical
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need for extensive and good quality taxplanning.
PwCs tax services are driven by Industry
groups - FS (Financial Services), TICE(Technology, Information & Communicationand Entertainment) and CIPS (Consumerand Industrial Products and Services).
e. Technology Advisory
Services
As organizations face increasingly complexproblems in maintaining their competitiveedge in the face of various businesschallenges, IT plays a key role as anenabler in providing a holistic solution to
such complex problems.Our outlook of how PwC works on theproblem?
IT Effectiveness
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IT Project and Program Management IT Cost and Value IT Governance
IT Strategy IT Quality and Process Advisory IT Infrastructure and Network
Consultancy IT Architecture Optimization
Operations ERP Advisory : SAP, Oracle Applications
and Microsoft Dynamics RFID Advisory Mobility Solutions SCM Package Advisory
FFE Corporate Performance Measurement
and Management Corporate Reporting Solutions Treasury Solutions
GRC Identity Management Solutions Compliance Solutions
Technology and Data Services Tactical Development
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Solutions around Services OrientedArchitecture (EAI and WebServices)
Knowledge Management Content Management Portal Advisory Solutions
Business Intelligence Data Warehousing and Corporate
Reporting Business and Customer Analytics Outsourced Analytics Data Quality Data Mining
Telecom Advisory Solutions Independent Verification and Validation
: Software Review and Testing
Forensic Technology Services
f.Transaction
The Transactions group (also known asFinancial Advisory Services (FAS)) in India
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offers dedicated services across the dealcontinuum including advisory on mergers,acquisitions, divestitures, joint ventures,
spin-offs, strategic alliances and onreaching out to global capital markets. Wework with organizations to manage changein business through mergers andacquisitions, developing the path to movebeyond the easy availability of capital tousing M&A to meet their customers' needs,to attract the best talent in their industry,to break through industry and functionalbarriers, to redefine their industry, and toemerge as a winner.
We can bring specialists to bear on anydeal problem anywhere. We can form andlead a multi-disciplinary and multinational
team to meet specific needs of the clients.We have a global perspective, world-wideservice delivery capability and a proventrack record in meeting the highest clientexpectations and standards of excellence.Using cross-functional teams and personnelwho are sector specialists, we bring
together all the relevant expertise fromacross the firm, to our work.
Amongst deal advisers we are uniquelypositioned to focus on the longer-term
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return from each deal because our servicesspan the entire deal spectrum fromacquisition strategy evaluation to post-
acquisition integration. We act as dealmanagers helping clients get deals donefaster, with less disruption and at a moreattractive price.
Deal Planning and Identification: No access due diligence Vendor assistance Pre-divestment reviews Corporate Finance & Investment Banking
Activities
Deal Evaluation and Excecution: Financial Due Diligence Negotiation / Bid Support Market Due Diligence Valuation Advisory Making Deals Successful: Post Deal Services Valuation & Strategy Services Project & Carbon Finance Activities
Harvesting Deals: Corporate Finance & Investment Banking
Activities Assisting Clients list securities overseas
(Global Capital Markets Group)
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Have you ever lost a deal your companyreally needed, or closed a deal that didnt
deliver the value anticipated? The FinancialAdvisory Services Team offers a field-proven, globally consistent deal processthat helps companies bid smarter, closefaster and realize benefits sooner. In asurvey of recent deals, our clients creditedour process with reducing the purchaseprice of acquisitions or increasing the priceof divestitures by 5% andin a third of allcasesby considerably more. We can helpyou at every step along the deal process.
Mergers, acquisitions and raising capitalare among the most importantand mostrisk-ladencorporate activities.
PricewaterhouseCoopers FinancialAdvisory Services Team offers a field-proven, globally consistent, controlled dealprocess that helps companies minimize therisks associated with buying or selling abusiness, entering an alliance or raisingcapital. Our diligence in uncovering the
realities of a business makes it easier forcompanies to do the right deals, avoid thewrong ones, and stem value leakage afterthe deal closes.
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WHAT MAKES IT SO
SPECIAL?ETHICS AND BUSINESSCONDUCT
PricewaterhouseCoopers (PwC) is one ofthe worlds pre-eminent professionalservices organisations. As professional
advisers we help our clients solve complexbusiness problems and aim to enhancetheir ability to build value, manage riskand improve performance. As businessadvisors they play a significant role in theoperation of the worlds capital markets.
Their services add value by helping toimprove transparency, trust andconsistency of business processes. Inorder to succe they emphasise on growthand development, both as individuals andas a business. The core values ofExcellence, Teamworkand Leadership
help them to achieve this growth.While they conduct their business withinthe framework of applicable professionalstandards, laws, regulations and internalpolicies, they also acknowledge that these
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standards, laws, regulations and policiesdo not govern all types of behaviour. As aresult, they also have a Code of conduct
for all PwC people and firms. This Code isbased on their values and it takes them tothe next level - demonstrating their valuesin action. The Code also provides a frameof reference for PwC firms to establishmore specific supplements to addressterritorial issues.
Everyone at PwC has an obligation toknow and understand not only theguidelines contained in the Code, but alsothe values on which they are based.Knowing and understanding are not
enough. They also have an obligation tocomply with the letter and spirit of thisCode and to help others do the same. Asindividuals they are encouraged to raiseany issues and concerns throughappropriate channels.
While the Code provides a broad range ofguidance about the standards of integrityand business conduct, no code canaddress every situation that individuals
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are likely to encounter. As a result, thisCode is not a substitute for theirresponsibility and accountability to
exercise good judgment and obtainguidance on proper business conduct.
They are encouraged to seek additionalguidance and support from thosedesignated as responsible for businessconduct matters. The strength in theirorganisation is the strength in theircollective knowledge and the sharing ofthat knowledge and experience
They conduct their business within theframework of applicable professionalstandards, laws, regulations and internalpolicies, and also acknowledge that these
standards, laws, regulations and policiesdo not govern all types of behaviour.As a result, they also have a Code ofConduct for all PwC people and firms. ThisCode is based on their values and it takesthem to the next level demonstratingtheir values in action. The Code alsoprovides a frame of reference for PwCfirms to establish more specificsupplements to address territorial issues
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SOCIAL RESPONSIBILITYAt PricewaterhouseCoopers it is know thatit takes more than rhetoric and good
intentions to make the world a betterplace. It takes a sustained commitment tothe world in which we live and dobusiness. And this is done by beingactively involved in the diversecommunities and societies that make up
todays world.
Collectively, we can make a difference inthe world, that is why Globalcommunities was created. Through itsnetworks they share local knowledge todevelop global solutions. Just as we they
to build and maintain public trust throughthe work they do for their clients, theyalso try to demonstrate the breadth anddepth of their commitment tocommunities across the globe throughmany programmes and initiatives.
Our obligation as business leaders is to leave the world
better than we found it.
Sam DiPiazza,
CEO PricewaterhouseCoopers
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References
http://www.pwc.com
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Thank you