Management Consultancies

Management consulting, often referred to as business consulting, is defined as “advisory and/or implementation services to the (senior) management of organisations with the aim of improving the effectiveness of their business strategy, organisational performance and operational processes”.

.Management consulting is a popular career choice, especially for Masters of Business Administration (MBA) graduates, where it remains the highest-paid position post-graduation. With the attraction of high salaries, travel, a fast-paced environment, and the opportunity to land a prestigious management consulting role with any of the Big 3, its appeal is understandable

Management consulting market.
The worldwide market for management consulting services is estimated to be worth more than $130 billion, and represents just over half of the total global consulting market. In the past years, expenditures on management consultancy grew on average with more than 4% per year, although the percentages have in the the past years, in line with the economic recovery of mature markets, been picking up. With a value of $70 billion, operations consulting forms the biggest segment within the sector, while HR consulting and strategy consulting are more or less the same in size with a value of just over $30 billion.

What does a management consultant do?
Management consultants are hired by decision makers for advise on, among others, strategy and organisational matters. They can be asked to develop a new strategic plan to, for instance, realise more growth, or commissioned to advise on innovation or cost reduction strategies. Implementing the proposed solutions also belongs to their tasks, and in practice the execution side of consulting forms the largest market for management consultants. Assignments can vary from improving the efficiency of business processes, the implementation of new IT systems, outsourcing of non-core tasks or optimising the supply chain. Management consultants typically remain involved until change transitions are complete and new ways of working have become part of ‘business as usual’ operations.