What Is Management And Strategy Consulting?
Management consulting firms are hired to help their clients know how to best manage and operate their business. Management consultants offer their expert advice on operational techniques, strategy, resource allocation, human capital, and marketing within the framework of the client's industry. Management consulting has been around since the late 19th century. The first consulting firm was founded by MIT professor Arthur Little in 1886. Other top consulting firms have their roots in academia as well. Booz Allen Hamilton was founded by Edwin Booz who had graduated from Northwestern University. Management consulting experienced exponential growth in the 1940s and 50s as demand for business management and financial advice spurred demand. Firms grew to become more national in their operations, opening offices around the country to better serve their clientele. Growth continued through the 1970s and 80s as industry best practices were developed by powerhouse consulting firms such as