| Management consulting has grown rapidly since the | | | | management consulting firms. They vary in size and |
| first consulting company in the 1890's. In leaps and | | | | scope, and range from broad to extremely specific |
| bounds it grew over 20% in the late 1980's and | | | | focuses. |
| 1990's. It trickled off in the early 200's and has since | | | | Broad, all-encompassing management consulting |
| maintained steady growth, with revenues up 3% in | | | | practices |
| 2004. | | | | These organizations typically offer a large number |
| Management consulting has a long and varied history. | | | | and range of services such as IT consulting right |
| The first consulting agency was developed in the | | | | alongside a management consulting firm. They are |
| early 1890's by Arthur D. Little, an MIT professor | | | | diverse in the scope and range of services they |
| who recognized a growing need for management and | | | | offer, and aren't locked in to one specific industry. |
| strategic advice for growing companies. | | | | Large, purely management and strategy based |
| He was followed by the Booz Allen Hamilton | | | | consulting agencies |
| Consulting Firm, who took management consulting | | | | These agencies tend to be purely focused on |
| one step further and began to service government | | | | business management and consulting on a general |
| clients in addition to purely business clients. This was | | | | level. They aren't specialized in one certain field and |
| a new step and set the standard for many | | | | offer general services across multiple industries. |
| companies that followed. | | | | Medium and small specialized firms |
| In 1926, another consulting agency emerged that | | | | These smaller firms are generally focused on a |
| would become one of the premier leaders in the field, | | | | specific area of industry or technology. They don't |
| McKinsey Management Consultants. After this run of | | | | consult on a general scale and typically stay within |
| management agencies, numerous others began to | | | | the industry in which they specialize. |
| emerge, but true innovation occurred some years | | | | Management consulting companies have long strived |
| after WWII with the development and | | | | for innovation in the practice of management, and |
| implementation of Boston Consulting Group. | | | | continue to grow in both size and scope. |
| In conjunction with other major management | | | | From government organizations to small businesses, |
| consultancy companies like Booz Allen, McKinsey, and | | | | management consulting agencies have made an |
| the Harvard Business School, BCG began to develop | | | | indelible mark on industries across the board, and |
| the tools and strategies that would define the new | | | | continue to create and implement new management |
| field of strategic management. | | | | and strategic planning practices throughout the world. |
| Currently, there are several popular types of | | | | |