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A consulting firm or simply consultancy is a professional service firm that provides expertise and specialised labour for a fee, through the use of consultants. Consulting firms may have one employee or thousands; they may consult in a broad range of domains, for example, management , engineering , and so on.
The consultant's career path is usually not at the client's side, [50] however the consultant will very likely be introduced into the client's organizational program or project structure. Novel collaborations of expert-contractors or independent consultants especially in ICT sector exist, e.g. ThoughtWorks .
The management consulting firms Stern Stewart, [12] Marakon Associates, [13] [14] and Alcar pioneered value-based management (VBM), or "managing for value", in the 1980s based on the academic work of Joel Stern, Bill Alberts, and Professor Alfred Rappaport. [15] Other consulting firms including McKinsey and BCG developed VBM approaches. [13]
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This list includes notable management consulting firms. Management consulting indicates both the industry of, and the practice of, helping organizations improve their performance, primarily through the analysis of existing business problems and development of plans for improvement.
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