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ISO 20700 Guidelines for management consultancy services is an international standard developed for use as a guideline for people or organizations for the effective management of management consulting services. [1]
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]
The Big Three or MBB is the name colloquially given to the three largest strategy consulting firms. They are considered to be the most prestigious firms in the management consulting industry. [1] In terms of employees, McKinsey & Company is the largest and leads by revenue. McKinsey is followed by Boston Consulting Group and Bain & Company ...
Many consultants are contributors to the Harvard Business Review. [90] McKinsey consultants published only two books from 1960 to 1980, then more than 50 from 1980 to 1996. [104]: 55 McKinsey's publications and research give the firm a "quasi-academic" image. [104] A McKinsey book, In Search of Excellence, was published in 1982. [107]
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.
Depending on the nature (also named mandate or statement of work or assignment) of the consulting services and the wishes of the client, the advice from the consultant may be made public, by placing the report or presentation online, or the advice may be kept confidential (under a Non-disclosure agreement or within the clients-company), and ...
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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.