Management consulting firms are services providing businesses comprising of a panel of experts or consultants who offer professional advice to a person or an organization at a specific cost or fee. A consultant is an individual who is adept in his/her field and is experienced and qualified enough to attend to the needs of his clients. However, A consultancy firm targets the company’s executives and provides them with consultants often referred to as industry specialists. They are the ones to guide down the company’s plan of action to achieve the company’s objectives or make up a strategy before starting a new project. A consulting firm might also come in handy in times of crisis.
There are so many reputed Management consulting firms available in the market. Therefore, to find the best consulting firm, you need to know how these firms are working. Here are some of the details of the firms:
McKinsey Company- one of the best management consulting firms
McKinsey & Company is one of the world-renowned Management consulting firms. The company is based in America and was founded 92 years ago in 1926 by James O McKinsey and Marvin Bower. However, the company provides its service worldwide. Its headquarters is located in New York City with 127 offices spread across the world. It has more than 27,000 employees, making it a billion-dollar company with a revenue of more than 10 Billion! It follows a strict culture of work and ethics with highly motivated and zealous employees. The company values traits like loyalty, integrity, and dynamism.
The Boston Consulting Group, Inc.
Boston Consulting Group, Inc or BCG., is a privately incorporated management consulting firm. Bruce Henderson founded it in the year 1963. The company has a revenue of $6.3 million as of 2017, with more than 90 offices at different locations worldwide. It has more than 16,000 employees working worldwide. BCG secured the 4th spot in Fortune’s list of “100 Best Companies to Work For” in 2018.
Bain and Company is a top consulting firm specialized in the area of management consultancy. It was founded in the year 1973, and its headquarters are located in Boston, Massachusetts. The company is an incorporated partnership with William W. Bain and Patrick F as its founders. The company showed rapid growth in the early ’80s and successfully generated a revenue of $3.7-$4.5 Billion in the year 2017.
The company has its network spread in 59 locations worldwide with a force of 8,000 employees. It has several awards in its name, such as Consulting Magazine’s 2016 “Best Firms to Work for” and the company ranked in the Fortune magazine as the “100 best companies to work for” in 2018.
Deloitte Consulting LLP is one of the world’s largest Management consulting firms and one of the big four accounting firms and has one of the largest professional networks worldwide. William Welch Deloitte founded in the company 1845 in London. Later he further expanded its operation in New York in 1880. Inside Public Accounting named Deloitte as #1 accounting firm in 2017 and is also one of the “100 Best Companies to Work For” by Fortune magazine. The company generated revenue of US$43.2 Billion in 2018 and has a working staff of 286,200 across the world with more than 100 operational locations, including China, India, and Hong Kong.
PWC or PricewaterhouseCoopers
PricewaterhouseCoopers is a multinational business offering professional service to its clients since 1998. The company’s headquarters is based in London, United Kingdom. It is the second-largest professional services firm and has its name amongst the Big Four Auditors. It has a revenue of $41.3 Billion as of 2018, with 250,930 employees working worldwide. PwC has a network of firms in 158 countries, at 743 locations. PricewaterhouseCoopers offers services in assurance, advisory, tax advisory, strategy consulting, tax controversy, data and analytics, management consulting, financial advisory, actuarial and legal.
EY or Ernst & Young- one of the best management consulting firms
Ernst and Young is well known as a globally recognized multinational professional service company based in the United Kingdom. It is one of the largest professional services firms globally and is one of the “Big Four” accounting firms. It started its journey in 1989 and had its headquarters in London, United Kingdom. The company generated revenue of US$34.8 Billion in 2017 and has a working staff of 260,000 across the world with 700 offices in 150 countries.
Accenture is famous as a globally accredited consulting firm renowned for management consulting and provides professional services like strategy, consulting, digital, technology, and operations. The company started its journey in 1989. Formerly known as Anderson Consulting, the company started incorporating in Dublin, Ireland, on September 1, 2009. Accenture generated revenue of US$39.4 Billion as of 2018 and has a workforce of 459,000 employees in more than 200 cities across the globe. Moreover, The company also has several awards and recognition in its name.
KPMG – one of the best management consulting firms
KPMG is also one of the finest Management consulting firms. It is a multinational business company offering professional service to its clients in three specialized fields – Audit (40%), Advisory (38%), Tax (22%). It started the journey in the year 1987 and later merged with other MNCs. “KPMG” stands for “Klynveld Peat Marwick Goerdeler. KPMG is a swiss co-operative company with its headquarters in Amstelveen, Netherlands. Each national KPMG firm is an untrammeled legal entity and is a member of KPMG International Cooperative, a Swiss entity registered in the Swiss Canton of Zug. KPMG has worldwide connectivity with a network of 188,982 employees across the world. The company generated revenue of US$ 26.40 Billion as of 2017. KPMG also shares its name with the “Big Four Auditors” and was ranked 2nd in overall consultancy rankings by OpRisk & compliance.
These are some of the world’s most popular management consulting firms.