Professional Services Insights 2007

The 2007 Grant Thornton Survey of Professional Services Firms has revealed an encouraging picture of the industry. But are professional services firms moving fast enough? Are you taking the actions that are strategically right for your firm’s unique needs? Are you seeing all corners of the big picture? You must take the next step.

Canada’s mid-sized professional services industry—like the loonie and the oil barrel—continues to appreciate in economic value and importance. In contrast to the seismic shocks of the current commodities boom and rising exchange rate, however, growth in Canadian professional services reflects a gradual but steady shift toward a globally competitive, knowledge-based economy.

The survey reveals an industry highly sensitized to competitive threats and fundamental weaknesses, but unprepared to fully mitigate these challenges or transform strengths into opportunities. This report focuses on the significant discrepancies between thought and action in the areas most critical to the success of mid-sized professional service firms: growth drivers, client focus, talent management and re-assessment of the partnership model.

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