Consulting Services

Consulting Services

Brief Excerpt from Industry Overview Chapter:

Companies in this industry provide management, scientific, and technical consulting services, including specialized services such as environmental, human resources, IT, logistics, and marketing consulting. Major global companies include Accenture, Bain & Company, Booz Allen, Boston Consulting Group, IBM Consulting, and McKinsey & Company, as well as the consulting arms of the Big Four accounting firms -- Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers.

COMPETITIVE LANDSCAPE

Demand is driven primarily by corporate spending. The profitability of individual companies depends on the efficiency of their operations and their ability to maintain a steady flow of business. Large firms have advantages in being able to offer broad ranges of services and to take on more complex projects. Small firms can compete effectively by specializing. The US industry is fragmented: the top 50 companies account for about 30% of industry revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Management consulting services such as strategic, business process, and human resources, account for about 60% of the US industry revenue. Marketing management account for 20%, followed by scientific and technical consulting services (more than 10%). Other services include operations and supply chain management and financial management, which accounts for 5% each.