Consulting with Ron Dostal `92
On May 30, 2023, the Junior consultants had the opportunity to work with Mr. Ron Dostal ’92. The first day started with a boom where we discussed the stakeholders involved in FIFA`s decision to hold a bi-annual world cup. Along with FIFA, we looked at the consultation case study for Freemark Abbey Winery.
While discussing the cases, we had the opportunity to know some of the unorthodox methods that consultants use in the industry. Starting at the end, guessing the outcome if the data is not given were some of the methods that helped in effective consulting. Along with that, we got to know about the role and importance of stakeholders in a company. Furthermore, Mr. Dostal provided us with the framework that the consultants follow to make their jobs easier and more organized. The framework provides consultants with the data needed to provide effective consultation for their customers.
The framework included: incentives, financials, constraints, travel, empathy, and client vs stakeholders. He also advised us to research the company and ask behind-the-scenes questions
such as are the stakeholders going to be happy, are the clients positive or negative towards your recommendation, and so on.
On the second day, we were introduced to the 4P`s and 4 C`s in a business. The 4 P`s are product, price, promotion, and placement and the 4 C`s are Customers, Competitors, Costs, and Culture. Another major knowledge that I gained through this session was the 5 Forces companies need to consider on the market. They were New Entrants Threat, Supplier’s Bargaining Power, Industry Rivalry, Substitute Threat, and Buyers’ Bargaining Power. We learned about the power dynamics involved while running a business and using leverage. With all this information provided to us, we discussed our third and fourth case studies: NASA`s decision to launch Challenger and Sealed Air Corporation`s decision to enter the uncoated bubble market. The main learning that we got from the discussion was to structure the communication while advocating your solution and the Threat of New Entrants for a company, respectively.
On the third day, we had the assignment to come up with our own solutions for Levi`s Custom Made jeans. This assignment gave us the opportunity to utilize all our learnings and present our solution to Mr. Dostal ’92. We used power dynamics to negotiate the price and considered the role of the stakeholders, i.e., the clients of Levi`s.
We would like to thank the Center for Innovation Business & Entrepreneurship for providing us all with the opportunity to learn from Mr. Dostal `92. Additionally, we want to express our sincere gratitude to Mr. Dostal `92 for his guidance and mentorship of the program.
