Management consultancy is the practice to help organizations improve their performance. Organizations can use the services of management consultants for a variety of reasons, including (and likely to have) the purpose of external advice and access to the expert experience of the consultants. As a result of their exposure and relationship with many organizations, advisory companies often know the “best practices of the industry”. However, the specific nature of the cases under consideration may limit the ability to transfer those practices from one organization to another.
Organizational change management consultancies can also provide development, coaching skills, process analysis, technology implementation, strategy development or operational improvement services. Management advisers often provide their own methodologies or frameworks to identify problems and report proposals for more effective or efficient ways of performing work tasks.
The functions of consulting services are generally divided into eight categories of tasks. The advisors can act as bridges for information and knowledge, and that these bridge services can be provided economically by external consultants that the client companies themselves. Consultants can participate proactively, without a significant external application, and externally, with external pressure. The proactive participation of the consultants focuses mainly on the identification of hidden blind spots and the improvement of performance, and the reactive consultative participation focuses mainly on the resolution of problems identified by external stakeholders. The long-term director of McKinsey, Marvin Bower, commented on the benefits of the externality of the consultant, who have different experiences outside the client company.
Consultants have specialized skills in tasks that involve high costs of internal coordination for clients, such as changes throughout the organization or the application of information technology. In addition, economies of scale, their focus and experience in gathering information throughout the world and in all industries make the cost of information search no more expensive than customers.
Four audit firms (Deloitte, KPMG, PwC, and Ernst & Young) have been investing heavily in the strategy consulting market since 2010. In 2013, Deloitte received a Monitoring Group, now Monitoring Deloitte, and PwC PRTM received at the Strategy of 2011 of 2013. Between 2010 and 2013, several companies of Big Four have tried to obtain Roland Berger. EY continued the trend and acquired Parthenon Group in 2014, and the businesses of Benelux and French OC & C in 2016 and 2017, and all were now under the EY-Parthenon brand.
Deloitte has been named the largest consultant for six consecutive years according to Gartner’s annual consultation report. Deloitte Consulting is divided into three practices: Human Capital, Strategy and Operations, and Technology. They were classified as # 4 in the Vault classification for 2018, 2017 and 2016 for consulting firms. In 2016, PwC became the largest consultancy in the world, and Gartner accounted for the income gap between the two Big Four firms in around $ 600 million.
Sometimes, management consultants are criticized for the excessive use of buzzwords, the dependence and proliferation of management fashions, and the lack of development of executable plans by the client. As mentioned above, the management consultation is an uncontrolled profession and, as such, any person or company can be customized as management consultants. Some critical management consultation books argue that the mismatch between management’s advice and executive capacity suggested the change to create significant damages for existing businesses. In his book, Flawed Council and the Management, Chris Argyris believes that much of the advice given today is invaluable. However, an intense examination shows that there are gaps and inconsistencies in most of the present that could prevent positive results in the future. Ichak Adizes and co-authors also condemn the time of advisory services. The client organization, which generally has little knowledge of the consultant’s wishes, cannot adequately evaluate the appropriate time to hire consultants. The consultants are usually too slow, when the problem is visible on the top of the ice of the organization, so a proactive check is recommended, as a regular medical check-up. On the other hand, this opens up a greater risk of abuse by dissatisfied professionals.
Sometimes, companies are accused of making unsatisfactory queries to fulfill vacant promises despite high fees, as well as “clearly saying” or not having the experience to establish their advice. These consultants have little innovation, instead of offering generic and pre-packaged strategies and plans that are irrelevant to the client’s particular problem. They may not be able to prioritize their responsibilities and the interests of their own business may benefit the clients.
Other criticisms include: the eviction of the business (for the release of employees) in the reduction of costs, the provision of analytical reports, junior consultants that reduce interest rates, the resale of similar reports to multiple clients as “personalized work”, lack of innovation, overload for days without work, speed at the expense of quality, large irresponsible companies and lack of customer service (small), lack of clarity in contract deliverables, no personalization of the criteria and confidentiality report in investigations specific.
List of Top Management Consultancy
Acquis Consulting Group
Advisory Board Company
Affiliated Computer Services (ACS)
The Alexander Group
Alliance Consulting Group
Allscripts Consulting Services
Alpha Financial Markets Consulting
Altman Vilandrie & Company
Alvarez & Marsal
Consulting firms provide services in all areas of business, from human resources and marketing, to IT and finance. The wide range of work with which it is committed makes it an attractive profession, offering a range of projects, challenges and opportunities for personal development. This may involve working around the world with multinational clients, even if you are not involved in one of the large companies. The larger boards have hundreds of advisors, but there is a growing number of specialized players throughout the UK, with between 10 and 100 consultants, who also offer some interesting career opportunities.
Lasse Lund, Deloitte’s customer management practice manager, who won the performance consultant in 2013 and general consultant of the year at the Management Advisory Association (MCA) awards, shared her work ideas: “I am very excited to work with different clients in different projects, and enjoying the momentum and excitement that we create in the organizations we work with, I like to be in the middle of the different pieces that must be united, for example, a problem arises and one thinks : ‘I’ve never seen that I have to get the right people out of the right teams, I have to implement the right processes and I have to implement the right technology to fix that question.’
“Once this is in place, there will be a new one. Probably the excitement of new and emerging projects, as well as learning something new, what makes it more suitable for the next project, what I like most about my work and One of the things I like about being a consultant. ”
There is no fixed career path in the industry, although many of the large consulting firms are recruiting graduates directly from the university. Competence in customer management, listening, strategic planning, business analysis and team building are attractive to consult with employers, such as creativity, flexibility and strong interpersonal skills.
For some companies, an MBA or MSc will be of great interest to a person, but they are not always necessary. Similarly, business steps can be beneficial, but in general consulting is not a specific industry of steps.
There is ample scope for personal development, expanding your skill set and improving your CV. Most consultancies offer excellent training opportunities, as well as the opportunity to develop other skills. As the work of the clients becomes more international, the companies begin to operate at European and global level, so there is a considerable margin to travel.
On the other hand, long hours are common. Your advice is not the same as your average 9-5 post: you can spend a lot of time away from home. You must be mobile with many work approvals, so it is important to be flexible. Most of the largest employers in London are headquartered in London and a number of regional offices, but as work for clients is done mainly on site, the location is less important.
Consultation demands often mean meeting difficult objectives on time. Most of the work is in front of the clients and they will be forced to deliver it. If you are shy and retired, this is probably not a good career for you. However, despite the intensity, there is a strong emphasis on the balance between work and life. Companies are very competitive because everyone wants the best projects and people. In addition, many consulting firms are highly involved in community and social issues, helping their people achieve their personal lives, local communities and other worthwhile causes.