The Future Of Business Consulting

869 Words4 Pages
There will be a general growth trend in the global consulting market, with emerging markets becoming more profitable and important in the foreseeable future (Salifu). Companies will also increasingly seek wholistic consulting services (Salifu). Our research corroborated this trends, as well as gave us more insight into the future of business consulting. Saliently, it indicated that changes in the economic, technological, business and political environment are set to affect the consulting industry. Consequentially, it will affect the function of consultants as well as companies in this industry. The growth of business consulting has coincided with the recovery of the global economy from the recession in 2009 (“Advice for Consultants). With the upturn in the global economy, companies are expanding and bringing back shelved projects, which they need help with now (“Advice for Consultants). Additionally, the presence of rapidly growing economies in the Middle East and Africa, have also contributed to the growth trend in consulting (Gutcher). However, not all consulting firms will gain equally from this growth. Businesses are continuously evolving-constantly looking for ways to cut costs and improve productivity. This has affected the consultancy business in that companies have become picky with what types of consulting they do. As a result, strategic consultancy, the most famous type, isn’t growing much. It only had an expected annual growth of 1.1% in 2014(“Advice for
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