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Unit 5 Management Consulting

Management consulting involves helping organizations improve performance through objective advice and business solutions. Some key aspects of the industry include: - Arthur D. Little in the 1890s and James McKinsey founding McKinsey & Co. in 1926 were early pioneers. Major growth occurred after World War II. - Consulting services include strategy, HR, processes, IT, and more. Major consultancies are Bain, Boston Consulting Group, Deloitte, Ernst & Young, McKinsey, and PwC. - The consulting process typically involves understanding the issue, developing solutions, and helping implement changes. Future trends point to the democratization of knowledge changing the role of consultants.

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143 views

Unit 5 Management Consulting

Management consulting involves helping organizations improve performance through objective advice and business solutions. Some key aspects of the industry include: - Arthur D. Little in the 1890s and James McKinsey founding McKinsey & Co. in 1926 were early pioneers. Major growth occurred after World War II. - Consulting services include strategy, HR, processes, IT, and more. Major consultancies are Bain, Boston Consulting Group, Deloitte, Ernst & Young, McKinsey, and PwC. - The consulting process typically involves understanding the issue, developing solutions, and helping implement changes. Future trends point to the democratization of knowledge changing the role of consultants.

Uploaded by

Ahmad Khan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Unit 5

Management
Consulting

History of Management Consulting

Management as a unique field of study

Arthur D.Little (1890s)

McKinsey & Company

First management and strategy consultancy


Founded by James McKinsey in 1926 (Chicago)
Hiring of bright young MBAs

Rise of management consultancy after World War II

Development of tools for strategic management


Boston Consulting Group (1963), McKinsey&Co, Harvard Business
School
Bain&Co - focus on shareholder wealth

Consulting within accountancy and technology firms


PwC and IBM

Niche consultancy firms

Corporate social responsibiity

What we mean by
Management Consultancy

The MCA defines management consulting as:


The creation of value for organisations, through
improved performance, achieved by providing
objective advice and implementing business
solutions.

Consulting involves individuals, whether selfemployed or employed, individually or


collectively using their knowledge, experience

Significance of Management Consulting

Management consultingis the practice of


helpingorganizationsto
improve
theirperformance, operating primarily through
the analysis of existing organizational problems
and the development of plans for improvement.

Organizations may draw upon the services of


managementconsultantsfor
a
number
of
reasons, including gaining advice and access to
the consultants' specialized expertise.

Key Stages in Consulting


1.Opportunity development
2.Agreeing Terms of Reference
3.Information gathering
4.Interpretation and insight
development
5.Sign-of
6.Aftercare

Key Stages in Consulting (Contd.)


7. Help them think through their own
ideas
6. Add options to their ideas.
7. Tell them what to do
8. Show them how to do it
9. Do it with them

Types of Consultancy
services
Strategy

HR

Process
and
Operations
Org design

Marketing

Infotech

Types of firms in the


industry
Accountancy firms ofering
consultancy
Large non-accounting consultancies
Small specialist boutiques
Gurus
Independents

Major consultancies

Bain & Company


Boston Consulting Group
Deloitte & Touche
Ernst & Young
A.T. Kearny
KPMG
Arthur D.Little
McKinsey & Co
Mercer
PriceWaterhouse Coopers

Big Four Management


Consultants

Price Water Coopers (PwC)


Ernst & Young
Deloitte
KPMG

The future of the Management Consulting


Industry

In 2013,Harvard Business Reviewdiscussed


the prevalent trend within the consulting
industry to evolve.
With knowledge being democratized and
information becoming more and more
accessible
to
anyone,
the
role
of
management
consultants
is
rapidly
changingand Management Consultancy has
its applications in all diversified forms.

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