The Past, Present, and Future of Management Consulting: Findings from A Global Survey
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CamEd Business School
Abstract
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This article summarizes the developments in Management Consulting (MC) over the last century and explores several questions frequently appearing in MC research: Does MC add value? Does MC accelerate innovation? How digitization and advanced technologies will impact MC? What is the level of trust that business professionals put in MC? Although research questions are derived mainly from scholarly research, answers are sought from a managerial point of view based on a global survey with 122 participants. Results showed a positive tendency about MC among participants, where consultants are slightly more optimistic about their influence; also, the impact of advanced technologies, such as AI, on MC is confirmed, possibly explaining the high growth rate of technology-driven consulting over the last few years.
Keywords
Management consulting, MC research, Artificial Intelligence, Machine Learning