A brief one today: What are some recent examples of PSFs acquiring specialist groups (whole firms, practices, or teams) with the aim of rounding out their portfolio of client offerings?
I just need pointers to a few examples for my book’s Introduction chapter. The argument goes like this:
- The pace of knowledge change is practically exploding, and in recent decades, professionals across nearly every knowledge domain have focused on specialization in order to keep current.
- The drive for specialization happens on two levels: the individual level, and the firm level. Most savvy and ambitious professionals today—whether in top consulting firms, high-power law firms, or other kinds of knowledge organizations—understand that it’s in their economic interest to get to be truly expert at one particular topic. [expand].
- Meanwhile, on the firm level, the drive to specialize—already powerful—is intensifying. Most top-tier services firms today encourage their partners to specialize, and have either created or acquired narrowly defined practice areas.
I have examples from firm websites about their individual experts, and the clear focus in existing practice groups. What I need is a few examples across different sectors of firms’ gobbling up whole groups of specialists as a strategic move. Can you help?