Consulting

Good Essays
Management consulting - To the brainy, the spoils
As the world grows more confusing, demand for clever consultants is booming
May 11th 2013 | NEW YORK |From the print edition
ELITE management consultancies shun the spotlight. They hardly advertise: everyone who might hire them already knows their names. The Manhattan office that houses McKinsey & Company does not trumpet the fact in its lobby. At Bain & Company’s recent partner meeting at a Maryland hotel, signs and name-tags carried a discreet logo, but no mention of Bain. The Boston Consulting Group (BCG), which announced growing revenues in a quiet press release in April, counts as the braggart of the bunch.

Consultants have a lot to smile about (see table). The leading three strategy consultancies have seen years of double-digit growth despite global economic gloom. In 2011, the last year for which Kennedy Information, a consulting-research group, has comparable revenue numbers, Bain grew by 17.3%, BCG by 14.5% and McKinsey by 12.4%. All three are opening new offices.
Big trends that befuddle clients mean big money for clever consultants. Barack Obama’s gazillion-page health reform has boosted health-care consulting; firms would rather pay up than read the blasted thing. The Dodd-Frank financial reform has done the same for financial-sector work. Energy and technology are hot, too.
Companies are reluctant to talk about their use of consultants, and consultancies are relentlessly tight-lipped. Bain is said to use code-names for clients even in internal discussions. Such secrecy makes this a hard industry to analyse.
It also lets stereotypes flourish. McKinseyites are said to be “vainies” (who come and lecture clients on the McKinsey way). BCG people are “brainies” (who spout academic theory). And the “Bainies” have a reputation for throwing bodies at delivering quick bottom-line results for clients.
In fact, the big three all learn from each other. All three now use their alumni networks to gather

You May Also Find These Documents Helpful

  • Powerful Essays

    Acme Consulting

    • 6314 Words
    • 26 Pages

    1.0 Executive Summary Acme Consulting is a consulting company specializing in marketing of high-technology products in international markets. Its expertise is the marketing of personal computers and market research, all in international markets. 2.0 Situation Analysis Acme Consulting offers high-level expertise in international high-tech business development, channel development, distribution strategies, and marketing of high-tech products. It focuses on providing two kinds of international…

    • 6314 Words
    • 26 Pages
    Powerful Essays
  • Good Essays

    Smith Consulting

    • 1033 Words
    • 5 Pages

    Smith Consulting has been retained in order to develop a functional and effective Frequent Shopper program for Kudler Fine Foods. Kudler Fine Foods has decided that it is in its best interest to implement this type of new marketing plan in order to build customer loyalty. The program will allow the shoppers at Kudler Fine Foods to earn points based on the purchases they make. These points will allow consumers to earn high end rewards. Kudler Fine Foods has specified to Smith Consulting that the desired…

    • 1033 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Xyberspace Consulting

    • 2614 Words
    • 12 Pages

    Xyberspace Consulting, Inc. Laura Barnes finished her chicken fajita and looked out upon Town Lake, shimmering under the fierce Texas sun. She had recently relocated to Austin from Silicon Valley to head up the Accounting Department for Xyberspace, a rapidly growing technology-consulting firm. Only two weeks on the job, she was being asked to resolve a controversy within the company. The controversy centered on the allocation of the costs associated with the company’s Training and Education Service…

    • 2614 Words
    • 12 Pages
    Powerful Essays
  • Powerful Essays

    consulting on disruption

    • 1184 Words
    • 5 Pages

    CONSULTING ON THE CUSP OF DISRUPTION 1 by: VIPUL TANDON(WMP6126)|RAHUL BHANSALI(WMP08076)| RAHUL UPADHYAY(WMP08078) “The industry that has long helped others sidestep strategic threats is itself being upended” * The article discusses about the potential disruption in consulting domain. * Disruption is a theory which shows, “what causes what to happen, when and why”. * The Challenge: The forces that disrupted Steel, Publishing, etc. industries have started reshaping consulting…

    • 1184 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    Consulting Letter

    • 4299 Words
    • 18 Pages

    Consulting Cover Letter by Victor Cheng As a former McKinsey resume screener, I’ve read a lot of consulting cover letters for consulting roles of all types. Most applicants severely under-estimate the importance of the cover letter and end up paying more attention to the consulting resume/CV than they do the cover letter. I would argue the effort allocation should be reversed — much more time put into the cover letter than the resume or CV. Here’s why. Without a good cover letter it…

    • 4299 Words
    • 18 Pages
    Better Essays
  • Good Essays

    Consulting Analysis

    • 1712 Words
    • 7 Pages

    for this course. Student 's Signature: ***************************************************************** Instructor 's Grade on Assignment: Instructor 's Comments: Strategic HR, Inc. Strategic HR, Inc. is a national consulting firm base din Cincinnati, Ohio. Strategic HR, Inc. serves a variety of organizations in all types of industries. The organization is known for strategically customizing services to meet each individual 's needs and work extensively on the client…

    • 1712 Words
    • 7 Pages
    Good Essays
  • Good Essays

    Consulting guide

    • 2921 Words
    • 12 Pages

    APC Nutrition 12 8 Profitability McKinsey & Co Mini-Bar 14 9 Profitability McKinsey & Co Vitamin Universe 16 10 New Product The Boston Consulting Group Bagging Co. (Popcorn) 18 Do not reproduce, store or distribute without written permission from the Graduate Consulting Group at McCombs School of Business 2 Case 1: Engineering and Construction Company Company: Booz & Co. A large engineering, procurement, and construction company has seen…

    • 2921 Words
    • 12 Pages
    Good Essays
  • Powerful Essays

    The Consulting Bible

    • 27361 Words
    • 110 Pages

    THE CONSULTING BIBLE How to conquer any consulting interview from fit questions to case studies Second edition Copyright 2009 Management Consulted. All Rights Reserved. Notice of Rights No part of this book and its contents may be reproduced, modified, or transmitted in any form or by any means, electronic, mechanical, photocopying, or otherwise, without the prior written permission of the publisher (“Management Consulted”). Management Consulted www.managementconsulted.com 2 Table of…

    • 27361 Words
    • 110 Pages
    Powerful Essays
  • Satisfactory Essays

    Consulting Firm

    • 423 Words
    • 2 Pages

    teams skills that are lacking and will be discussing what options there is to fulfill those strategies. The team will be discussing the types of fictional consulting firms that will use the strengths of the team members to ensure the success of the short and long term goals of the firm. The team will create a list of three types of consulting firms. The team will create a statement of skills and the methods to get the skills. And finally the team will attach a copy of our skills matrix. Skill Set…

    • 423 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Dss Consulting

    • 480 Words
    • 2 Pages

    Memorandum To: Richard Warner, CEO iWave Computers CC: Kathy Smith, CFO From: DSS Consulting Firm Date: 4/19/2031 Re: Production Plan Recommendation Our consulting firm has exclusively prepared two profitable computer assembly production plans for your next 12 calendar months. We have meet your policy constraints, including workforce, inventory, overtime, hiring, firing, and demand. We have valuated all your cost including and find that these to plans have a very profitable outcome. According…

    • 480 Words
    • 2 Pages
    Satisfactory Essays