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The first management
consulting firm was Arthur D. Little, founded in the late
1890s by the MIT professor of the same name. Though Arthur
D. Little later became a general management consultancy, it
originally specialized in technical research. Booz Allen Hamilton
was founded by Edwin G. Booz, a graduate of the Kellogg School
of Management at Northwestern University, in 1914 as a management
consultancy and the first to serve both industry and government
clients. The first pure management and strategy consulting
company was McKinsey & Company. McKinsey was founded in
Chicago during 1926 by James O. McKinsey, but the modern McKinsey
was shaped by Marvin Bower, who believed that management consultancies
should adhere to the same high professional standards as lawyers
and doctors. McKinsey is credited with being the first to
hire newly minted MBAs from top schools to staff its projects
vs. hiring older industry personnel. Andrew T. Kearney, an
original McKinsey partner broke off and started A.T. Kearney
in 1937. During Britain's war effort, Personnel Administration
(PA) was founded in 1943 by three Englishmen: Ernest E. Butten,
Tom H. Kirkham and Dr David Seymour.
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After World War II, a number
of new management consulting firms formed, most notably Boston
Consulting Group, founded in 1963, which brought a rigorous
analytical approach to the study of management and strategy.
Work done at Booz Allen, McKinsey, BCG, and the Harvard Business
School during the 1960s and 70s developed the tools and approaches
that would define the new field of strategic management, setting
the groundwork for many consulting firms to follow. Another
major player of more recent fame is Bain & Company, whose
innovative focus on shareholder wealth (including its successful
private equity business) set it apart from its older brethren.
Also significant was the development of consulting arms by
both accounting firms (such as Accenture of the now defunct
Arthur Andersen) and global IT services companies (such as
IBM). Though not as focused on strategy or the executive agenda,
these consulting businesses were well-funded and often arrived
on client sites in force. |
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One of the reasons why management
consulting grew first in the USA is because of deep cultural
factors, as it was accepted that , contrary to Europe, Management
and Boards alike, might not be competent in all circumstances
, and therefore , buying external competency was seen as normal
to solve a business problem. This is referred to as a "contractual"
relation to management. By contrast , in Europe, management
is connected with emotional and cultural dimensions , where
the manager is bound to be competent at all times. This is
is referred to the "pater familias" pattern. Therefore
seeking for ( and worse paying for ) external advise was seen
, as inappropriate. Conversely it must also be said that in
those days ( and still today ) the average level of education
of the executives was significantly higher in Europe where
managers were "Grandes Ecoles" Graduates ( France)
or "Doktor" ( Germany), than in the USA. The combination
of these two factors made it difficult for consulting to emerge
in Europe .It is only after World War II that, in the wake
of the development of the international trade lead by the
USA, management consulting got exported to Europe. |
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The current trend in the market is
a clear segmentation of management consulting firms. McKinsey,
Bain, and BCG retain their strong strategy focus, with pure
strategy houses such as OC&C Strategy Consultants, and Parthenon
competing effectively in this high end market. Many other generalist
management consultancies such as Accenture are broadening their
offering increasing into high volume, lower margin work such
as system integration. |
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