27.4Achieving excellence professionally and in business

In real life, the professional and business sides of consulting are not separate. Professional decisions are business decisions and business decisions have professional implications. Key professional characteristics of the firm, such as staff competence and integrity, leadership, organizational culture, shared values, and good relations with important clients, have an economic value and are reflected in the value of the firm, fee levels, potential and real earnings, and so on. Managers of consulting firms have to address the two aspects irrespective of their personal background and preference for one or other side. The thrust of their work is sensitive, tactful and subtle balancing both of professional and