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Consulting firm

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565:) and consulting firms in Asia Pacific regions (emerging economy). Efficiency scores of consulting firms in America were significantly higher than consulting firms in Asia Pacific regions. This is because firms in developed economies have better infrastructure, organisation and education, thus advice given by consulting firms is used efficiently. 540:
do not always have positive effects. One reason for this is that firms in emerging economies suffer from the inferiority of their technologies and innovation capabilities, thus, although they have access to consulting firms, they cannot make the most of the advice given. Advice given by consulting
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In 2013, there was a randomized trial in Mexico where 432 small and medium enterprises were allowed access to management consulting services for one year. As a result of this trial, there were many positive impacts. Such positive impacts include: increase in entrepreneurial spirit, increases in
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firms to clients may not be used efficiently as clients firms in emerging markets tend to suffer due to a lack of infrastructure, organisation, and education. Another reason firms in emerging economies struggle to effectively use consulting services is that innovation is very costly and risky.
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Where internal consulting solutions (at which the client firm acts as a de-facto employer) may run into issues of scope once projects get too large, external consulting firms may be able to provide a better solution for the larger consulting deals on the
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employment and higher wages for employees. Even after 5 years after the trial, positive impacts are still active. These results were achieved by advertising a consulting program to 432 enterprises and recorded data on the positive effects.
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Some clients may decide to hand over entire assemblies of tasks to consulting firms for a period of time - this is akin to outsourcing agreements, however with the exception of a predestined due date which is atypical in
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and account for several hundred billion dollars in annual revenues. Between 2010 and 2015, the 10 largest consulting firms alone made 170 billion dollars growth revenue and the average annual growth rate is around 4%.
933: 168:, intended for operational management, which may be different depending on the industrial sector (technology director, plant managers, operations directors, Research and Development managers), for instance 128:
The segmentation of advisory services varies widely across organizations and countries. Categorization is unclear, in part because of the upheavals that have occurred in this industry in recent years.
908: 68:, usually trained in management or in business schools. The deliverable of a management consultant is usually recommendations for achieving a company objective, leading to a company project. 553:, consulting firms in emerging economies do also have positive impacts. Positive impacts include: increases in employment, increase in entrepreneurial spirit and higher wages for employees. 1531:"Why Big Data is becoming so Important in Supply Chain | Big Supply-Chain Analytics – Assuras – Providing Assurance & Confidence For Today's Leading Businesses" 317:
consequently acting as a source of profit for clients, consulting firms and society as proffered. The consulting business model can be seen as a result of the
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Management consultants, in particular, typically work with company executives and provide them with generalists and industry-specific specialists, known as
353:. While consulting services and outsourcing services are compatible, issues arise if the clients are not aware of the differences between the two. From an 1373:"Improving Business Practices and the Boundary of the Entrepreneur: A Randomized Experiment Comparing Training, Consulting, Insourcing, and Outsourcing" 212:
for the consulting firm. Clients are looking to procure or purchase external help and assistance. Consulting firms sustain their revenues from a
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Many consulting firms complement the recommendations with implementation support, either by the consultants or by technicians and other experts.
1530: 1428: 286:, are effectively required to offer their services in the form of consulting agreements due to a lack of industry position outside of the 807: 683: 228:
Client needs being incontinuous, or continuous but otherwise volatile in that they may vary from time to time in nature and scope,
1273: 1087: 637: 361:, as consulting services are meant to be a complementary service to the client firm, whereas outsourcing effectively aims to 131:
One approach is to separate services into five broad service delivery families, considering the managers they are targeting:
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There are different types of consulting firms serving different sectors. They mainly fall under the following fields:
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point of view as a method for distributing labour, where certain positions, roles or fields of expertise within the
17: 53:. Consulting firms may have one employee or thousands; they may consult in a broad range of domains, for example, 770:"The Best and the Brightest: The Construction, Significance and Effects of Elite Identities in Consulting Firms" 1475:"The Impact of Consulting Services on Small and Medium Enterprises: Evidence from a Randomized Trial in Mexico" 561:
One study shows that there is a significant difference between efficiency between consulting firms in America (
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their services with the client. Many consulting firms offer several service packages as part of their business
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Risk and compliance audits may be suitable for a consulting contract as a means of safeguarding neutrality,
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labour or other qualified labour for tasks not making up the core task assembly of the client organization,
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Services related to marketing, communication, sales and public relations, which are addressed to the
607:. These firms often offer solutions to smaller businesses rather than the big consulting companies. 1634: 486: 458: 310: 173: 932:
Poulfelt, Flemming; Olson, Thomas H.; Poulfelt, Flemming; Bhambri, Arvind; Greiner, Larry (2017).
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standpoint, it is important that clients are aware of what type or types of services they are
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services as well. Similarly, outsourcing firms may offer consulting services as a way to help
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for an intended result, or relative to an intended result or output, in order to charge for a
88:, the industry’s most important firms are the "Great eight" consulting firms which consist of 1209: 647: 435: 425: 249: 165: 97: 75: 65: 54: 39: 1474: 1372: 1257:
Digital Transformation of the Consulting Industry: Extending the Traditional Delivery Model
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Many consulting firms provide services across a range of industries. Notable firms include
482: 405: 386: 302: 154: 8: 350: 283: 1148: 1105:"Editorial: Consulting, Research, and Consulting Research, Volume 23, Issue 2, May 2004" 1512: 1402: 1348: 1323: 1231: 1204: 1178: 1170: 1007: 789: 642: 632: 537: 330: 322: 298: 257: 235: 1572: 1504: 1406: 1353: 1339: 1269: 1236: 1222: 1182: 1083: 1011: 993: 949: 883: 793: 691: 627: 562: 318: 205: 136: 89: 1603: 1564: 1516: 1494: 1486: 1392: 1384: 1343: 1335: 1261: 1226: 1218: 1162: 1122: 1047: 997: 989: 941: 909:"Caveat Compliance: Can Firms Rely on Advice Received from Compliance Consultants?" 845: 781: 453: 213: 105: 1051: 1568: 1291:"Corporate Consulting for Customer Solutions: Bridging Diverging Business Logics" 420: 354: 287: 279: 252:, intangible capital or other types of goodwill belonging to the consulting firm. 849: 662: 430: 201: 1265: 1623: 1576: 1508: 871: 785: 695: 217: 209: 184: 84: 945: 325:. Today it is not rare for consulting firms to offer what may be considered 1357: 1240: 1126: 887: 506: 377: 365:
parts of the client firm that are imperative to their operational ability.
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work, as contrasted to in-house employment, for a few conceivable reasons:
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Aside from the economic arguments stated above, consulting also acts as a
1553:"Innovation in Emerging Markets: The Role of Management Consulting Firms" 1499: 491: 445: 391: 381: 358: 342: 341:
It is common practice for consulting firms to be involved in the sale of
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The Advice Business: Essential Tools and Models for Managing Consulting
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There is also a myriad of other smaller and more niche firms including
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service model as could be seen in for example contract formations of
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Butterill, Dale; Goering, Paula; Jacobson, Nora (16 June 2005).
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Back, Yujin; Praveen Parboteeah, K.; Nam, Dae-il (2014-12-01).
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Consulting comprises the natural service model for large-scale
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A potential scarcity of skilled labour available on the market,
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Park, Gowangwoo; Lee, Seok-Kee; Choi, Kanghwa (January 2021).
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Bruhn, Miriam; Karlan, Dean; Schoar, Antoinette (April 2018).
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Momparler, Alexander; Carmona, Pedro; Lassala, Carlos (2015).
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is also a prevalent sales argument for consulting services.
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Some consulting firms also serve niche sectors, such as:
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A consulting firm's model of business may be compared to
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Jacobson, Nora; Butterill, Dale; Goering, Paula (2005).
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Anderson, Stephen J.; McKenzie, David (January 2022).
684:"Have McKinsey and its consulting rivals got too big?" 536:
The impact of consulting firms on local businesses in
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that provides expertise and specialised labour for a
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The Economics and Sociology of Management Consulting
1034:"Quality of consulting services and consulting fees" 512: 248:Looking to get a hold of or utilize of third party 1472: 1324:"Consulting as a Strategy for Knowledge Transfer" 1205:"Consulting as a Strategy for Knowledge Transfer" 767: 557:Impact of consulting firms in developed economies 27:Firm of experts providing professional assistance 1621: 1370: 527:Impact of consulting firms in emerging economies 568: 940:. Taylor & Francis Group. pp. 5–36. 975: 1589: 1426: 1429:"Outsourcing: Death Knell for Consulting?" 1071: 768:Alvesson, Mats; Robertson, Maxine (2006). 1607: 1498: 1396: 1347: 1230: 1001: 934:"The Changing Global Consulting Industry" 872:"Should you have an internal consultant?" 938:Management Consulting Today and Tomorrow 1146: 741: 14: 1622: 1253: 1102: 869: 831: 808:"Strategy and Organization Consulting" 716:"Consulting on the Cusp of Disruption" 638:Knowledge intensive business services 234:The possibility of offering a higher 195: 1288: 988:(2). Wiley Online Library: 371–387. 976:Munro, Lois; Stewart, Jenny (2009). 813:. Center for Effective Organizations 74:Consulting services are part of the 1557:Journal of International Management 544: 531: 24: 744:"The Anatomy of a Consulting Firm" 25: 1651: 1260:. Progress in IS. Springer Cham. 838:Academy of Management Proceedings 623:Information technology consulting 1427:Czerniawska, Fiona (June 2006). 1340:10.1111/j.1468-0009.2005.00348.x 1223:10.1111/j.1468-0009.2005.00348.x 994:10.1111/j.1467-629X.2009.00322.x 513:Successful consulting firm cases 278:Certain service models, such as 153:Services related to management, 1583: 1544: 1523: 1466: 1451: 1420: 1364: 1315: 1282: 1247: 1196: 1140: 1096: 1065: 1025: 969: 275:projects in client enterprises, 925: 901: 863: 825: 800: 761: 735: 708: 676: 336: 13: 1: 1302:Stockholm School of Economics 1103:Shogun, Steve M. (May 2004). 1052:10.1016/j.jbusres.2015.01.033 844:. Academy of Management: 17. 780:(2). SAGE Journals: 195–224. 669: 653:Professional services network 387:Financial accounting services 297:Consulting is also used as a 139:, which are addressed to the 1569:10.1016/j.intman.2014.07.001 1479:Journal of Political Economy 1377:Journal of Political Economy 1154:California Management Review 1039:Journal of Business Research 569:Examples of consulting firms 7: 1072:Armbrüster, Thomas (2006). 610: 123: 10: 1656: 1080:Cambridge University Press 882:(6). Europe PMC: 110–120. 850:10.5465/ambpp.1974.4980555 742:Maister, David H. (2004). 220:find it more suitable for 137:company's overall strategy 1266:10.1007/978-3-319-70491-3 517: 321:, and as a subset of the 1463:Monday, 25 November 2019 1459:"Business plan examples" 1433:Consulting to Management 1147:Sarvary, Miklos (1999). 982:Accounting & Finance 786:10.1177/1350508406061674 459:environmental consulting 368: 164:Services related to the 135:Services related to the 1254:Nissen, Volker (2018). 946:10.4324/9781315648293-2 876:Harvard Business Review 721:Harvard Business Review 397:Safety in the workplace 1127:10.1287/mksc.1040.0078 870:Kelley, R. E. (1979). 483:consulting in politics 416:Information technology 329:solutions to clients. 181:information technology 66:subject-matter experts 1328:The Milbank Quarterly 1210:The Milbank Quarterly 648:Management consulting 436:Regulatory compliance 250:intellectual property 76:professional services 49:, through the use of 832:Swartz, Don (1974). 605:Westcliffe Strategic 406:hospitality industry 166:company's operations 155:financial management 40:professional service 1609:10.3390/su131810352 507:raw material supply 284:economic consulting 236:work level activity 179:Service related to 1289:Sandberg, Robert. 643:Knowledge transfer 633:Knowledge industry 538:emerging economies 331:Knowledge transfer 323:knowledge industry 280:financial auditing 258:corporate services 241:The necessity for 196:Models of business 1275:978-3-319-70491-3 1110:Marketing Science 1089:978-0-521-85715-4 1078:. Cambridge, UK: 628:Knowledge economy 563:developed economy 319:knowledge economy 16:(Redirected from 1647: 1630:Consulting firms 1614: 1613: 1611: 1587: 1581: 1580: 1548: 1542: 1541: 1539: 1538: 1527: 1521: 1520: 1502: 1470: 1464: 1462: 1455: 1449: 1448: 1446: 1444: 1424: 1418: 1417: 1415: 1413: 1400: 1368: 1362: 1361: 1351: 1319: 1313: 1312: 1310: 1308: 1295: 1286: 1280: 1279: 1251: 1245: 1244: 1234: 1200: 1194: 1193: 1191: 1189: 1167:10.2307/41165988 1144: 1138: 1137: 1135: 1133: 1100: 1094: 1093: 1069: 1063: 1062: 1060: 1058: 1046:(7): 1458–1462. 1029: 1023: 1022: 1020: 1018: 1005: 973: 967: 966: 964: 962: 929: 923: 922: 920: 918: 913: 905: 899: 898: 896: 894: 867: 861: 860: 858: 856: 829: 823: 822: 820: 818: 812: 804: 798: 797: 765: 759: 758: 756: 754: 739: 733: 732: 730: 729: 712: 706: 705: 703: 702: 680: 545:Positive impacts 532:Negative impacts 454:public relations 21: 18:Consultancy firm 1655: 1654: 1650: 1649: 1648: 1646: 1645: 1644: 1635:Knowledge firms 1620: 1619: 1618: 1617: 1588: 1584: 1549: 1545: 1536: 1534: 1529: 1528: 1524: 1471: 1467: 1457: 1456: 1452: 1442: 1440: 1425: 1421: 1411: 1409: 1369: 1365: 1320: 1316: 1306: 1304: 1293: 1287: 1283: 1276: 1252: 1248: 1201: 1197: 1187: 1185: 1145: 1141: 1131: 1129: 1101: 1097: 1090: 1070: 1066: 1056: 1054: 1030: 1026: 1016: 1014: 974: 970: 960: 958: 956: 930: 926: 916: 914: 911: 907: 906: 902: 892: 890: 868: 864: 854: 852: 830: 826: 816: 814: 810: 806: 805: 801: 766: 762: 752: 750: 740: 736: 727: 725: 714: 713: 709: 700: 698: 682: 681: 677: 672: 667: 613: 571: 559: 547: 534: 529: 520: 515: 411:Human resources 371: 339: 309:consulting and 288:tertiary sector 214:labour economic 198: 126: 32:consulting firm 28: 23: 22: 15: 12: 11: 5: 1653: 1643: 1642: 1640:Legal entities 1637: 1632: 1616: 1615: 1596:Sustainability 1582: 1563:(4): 390–405. 1543: 1522: 1491:10.1086/696154 1485:(2): 635–687. 1465: 1450: 1419: 1389:10.1086/717044 1383:(1): 157–209. 1363: 1334:(2): 299–321. 1314: 1281: 1274: 1246: 1217:(2): 299–321. 1195: 1139: 1095: 1088: 1064: 1024: 968: 954: 924: 900: 862: 824: 799: 760: 734: 707: 674: 673: 671: 668: 666: 665: 663:Temporary work 660: 655: 650: 645: 640: 635: 630: 625: 620: 614: 612: 609: 570: 567: 558: 555: 546: 543: 533: 530: 528: 525: 519: 516: 514: 511: 510: 509: 504: 502:small business 499: 494: 489: 480: 475: 470: 461: 456: 439: 438: 433: 428: 423: 418: 413: 408: 399: 394: 389: 384: 370: 367: 338: 335: 315: 314: 295: 291: 276: 273:transformation 269: 266: 254: 253: 246: 239: 232: 229: 197: 194: 193: 192: 177: 162: 151: 144: 125: 122: 26: 9: 6: 4: 3: 2: 1652: 1641: 1638: 1636: 1633: 1631: 1628: 1627: 1625: 1610: 1605: 1602:(18): 10352. 1601: 1597: 1593: 1586: 1578: 1574: 1570: 1566: 1562: 1558: 1554: 1547: 1532: 1526: 1518: 1514: 1510: 1506: 1501: 1500:1721.1/121090 1496: 1492: 1488: 1484: 1480: 1476: 1469: 1460: 1454: 1438: 1434: 1430: 1423: 1408: 1404: 1399: 1394: 1390: 1386: 1382: 1378: 1374: 1367: 1359: 1355: 1350: 1345: 1341: 1337: 1333: 1329: 1325: 1318: 1303: 1299: 1292: 1285: 1277: 1271: 1267: 1263: 1259: 1258: 1250: 1242: 1238: 1233: 1228: 1224: 1220: 1216: 1212: 1211: 1206: 1199: 1184: 1180: 1176: 1172: 1168: 1164: 1161:(2): 95–107. 1160: 1156: 1155: 1150: 1143: 1128: 1124: 1120: 1116: 1112: 1111: 1106: 1099: 1091: 1085: 1081: 1077: 1076: 1068: 1053: 1049: 1045: 1041: 1040: 1035: 1028: 1013: 1009: 1004: 999: 995: 991: 987: 983: 979: 972: 957: 955:9781315648293 951: 947: 943: 939: 935: 928: 910: 904: 889: 885: 881: 877: 873: 866: 851: 847: 843: 839: 835: 828: 809: 803: 795: 791: 787: 783: 779: 775: 771: 764: 749: 745: 738: 723: 722: 717: 711: 697: 693: 689: 688:The Economist 685: 679: 675: 664: 661: 659: 656: 654: 651: 649: 646: 644: 641: 639: 636: 634: 631: 629: 626: 624: 621: 619: 616: 615: 608: 606: 602: 598: 593: 592: 588: 584: 580: 576: 566: 564: 554: 552: 542: 539: 524: 508: 505: 503: 500: 498: 495: 493: 490: 488: 487:public sector 484: 481: 479: 476: 474: 471: 469: 465: 464:entertainment 462: 460: 457: 455: 451: 447: 444: 443: 442: 437: 434: 432: 429: 427: 424: 422: 419: 417: 414: 412: 409: 407: 403: 400: 398: 395: 393: 390: 388: 385: 383: 379: 376: 375: 374: 366: 364: 360: 356: 352: 348: 344: 334: 332: 328: 324: 320: 312: 308: 304: 300: 296: 292: 289: 285: 281: 277: 274: 270: 267: 263: 262: 261: 259: 251: 247: 244: 240: 237: 233: 230: 227: 226: 225: 223: 219: 218:labour market 215: 211: 210:profit margin 207: 203: 190: 186: 185:IT consulting 182: 178: 175: 171: 167: 163: 160: 156: 152: 149: 145: 142: 138: 134: 133: 132: 129: 121: 119: 115: 111: 107: 103: 99: 95: 91: 87: 86: 85:The Economist 82:According to 80: 77: 72: 69: 67: 62: 61:, and so on. 60: 56: 52: 48: 44: 41: 37: 33: 19: 1599: 1595: 1585: 1560: 1556: 1546: 1535:. 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Index

Consultancy firm
professional service
firm
fee
consultants
management
engineering
subject-matter experts
professional services
The Economist
Bain
BCG
McKinsey
Deloitte
EY
KPMG
PwC
Accenture
company's overall strategy
CEO
CMO
financial management
CFO
company's operations
COO
CTO
information technology
IT consulting
CIO
staffing

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