Management consulting is one of the most sought-after services these days. As companies are looking for outside expertise to overcome their challenges and stay relevant in today’s dynamic business, the importance of management consultant is increasing rapidly. The global management consulting market, which was at USD 107 billion, reached USD 160 billion in 2019. The market was estimated at around USD 132 billion in 2020 due to the Covid-19 pandemic. With the slowing down of coronavirus across the world, the market is expected to pick up and register tremendous growth.
Today, there exist a number of management consulting firms in the world. However, the global management consulting industry is primarily dominated by very few well-established firms. Owing to the importance of management consulting services that contribute to the success of a business, extensive care must be taken while selecting the management consulting firm.
Here is the list of some of the top management consulting firms in India.
McKinsey & Company
McKinsey and Company is an American management consulting firm that operates worldwide. The company was established in 1926 in Chicago. The company primarily provides management consulting services to corporations, governments and other private organizations.
The company’s consulting services include advice on acquisition and merger, company restructuring, new growth strategy, recommendations on downsizing, etc. McKinsey & Company has offices in India in the cities of Bangalore, Chennai, Gurugram, Mumbai and Thiruvananthapuram.
Bain & Company
Bain & Company is a US-based management consulting firm established in 1973. The company provides consulting services in the areas of organizational strategy, operations, private equity, mergers and acquisitions, finance, market analysis, etc., to businesses across all industries.
The company has 59 offices in 37 countries and provides management consulting services to clients across the world. In India, Bain & Company has offices in Bangalore, Mumbai and New Delhi.
Boston Consulting Group
Boston Consulting Group is an American management consulting firm based out of Boston. The company was founded in 1958. It provides management consulting services with capabilities in the areas of business and organizational purpose, business transformation, corporate finance and strategy, customer insights, digital, technology and data, diversity, equity and inclusion, manufacturing, marketing and sales, people strategy, etc.
Boston Consulting Group has offices in more than 90 cities in 50 countries worldwide. The company has offices in India in the cities of Bangalore, Chennai, Mumbai and New Delhi.
These three companies, namely, McKinsey & Company, Bain & Company and Boston Consulting Group are collectively referred to as the Big Three.
Kearney is an American management consulting company based out of Chicago. The company was founded in 1926, as a branch of McKinsey & Company, and later became independent in 1939. The company provides consulting services in the areas of operations and performance, mergers and acquisitions, procurement, leadership, product, design, digital technologies, etc. to companies cutting across business verticals.
Kearney has physical presence in more than 40 countries and provides to clients worldwide. The company has offices in India in two locations, namely, Mumbai and New Delhi.
Apart from the above said companies, PwC, Deloitte, EY and KPMG, which are known as the ‘Big Four’, also provide management consulting services apart from business consulting services. Having said that, all these companies primarily provide services to Fortune 500 companies. It is not feasible for small and medium scale businesses to approach these big giants for management consulting services.
Also Read: Business Consulting Firms in India
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