A Brief History Of Management Consulting

819 Words Nov 12th, 2014 4 Pages
History of Management Consulting Management consulting is helping other organizations make best possible decisions to maximize their profits, not necessarily generating more revenue. The field of this job has been growing in the past two decades. The focuses of management consultants have been changing over the time. However, even people in the field don’t know the historical back ground of the management consulting firms and how the industry has changed in the past. This article covers these following three things: (1) a brief history of management consulting, (2) characteristics of management consultants in the past, (3) characteristics of management consultants now.
A Brief History of Management Consulting Consulting firms existed even in the late 19th century in the United States. The biggest consulting firm back then is Arthur D. Little Inc., which was established in “1886” (Arthur. n.d.). Around that time period, the size of industry was really small. After companies started seeking for more profits out of their works, management consulting firms began to attain more partners and grow. Kiechel (2010) states that current dominating consulting firms—Bain & Company, Boston Consulting Group, and McKinsey & Company—were founded during the early- through mid-20th century (p. 1, 13). Those three firms are currently called “Big Three” in the consulting field. During the same period, other consulting firms also appeared. The revenues of management consulting…
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