Obtain the needed licenses To be fully recognized as a certified consultant in your field, you must obtain all the necessary tax and business licenses locally and state-wide before you commence your consulting business. Write a business plan A business plan is a guide line for everything that is done in a consulting business.
History[ edit ] Management consulting grew with the rise of managementas a unique field of study. One of the first management consulting firms was Arthur D.
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Little later became a general management consultancy, it originally specialised in technical research. Little focused on technical research for the first few years, the first management consultancy was started by Frederick Winslow Taylorwho in opened an independent consulting practice in Philadelphia.
By inventing Scientific Management, also known as Taylor's method, Frederick Winslow Taylor invented the first method of organizing work, spawning the careers of many more management consultants. One of Taylor's early collaborators, Morris Llewellyn Cookefor example, opened his own management consultancy in Taylor's method was used worldwide until industry switched to a method invented by W.
After World War II, a number of new management consulting firms formed, bringing a rigorous analytical approach to the study of management and strategy. The postwar years also saw the application cybernetics principles to management through the work of Stafford Beer.
The industry experienced significant growth in the s and s, gaining considerable importance in relation to national gross domestic product.
In there were only five consulting firms with more than 1, consultants worldwide, whereas by the s there were more than thirty firms of this size. The wave of growth in the s was driven by both strategy and information technology advice.
In the second half of the s, the big accounting firms entered the IT consulting segment.
By the mids these firms had outgrown those service providers focusing on corporate strategy and organization. While three of the Big Four legally divided the different service lines after the Enron scandals and the ensuing breakdown of Arthur Andersen, they are now back in the consulting business.
InAndersen Consulting broke off from Arthur Andersen and announced their new name: In recent years, management consulting firms actively recruit top graduates from Ivy League universities, Rhodes Scholars and students from top MBA programs. In more recent times, traditional management consulting firms have had to face increasing challenges from disruptive online marketplaces that are aiming to cater to the increasing number of freelance management consulting professionals.
Marvin BowerMcKinsey's long-term director, has mentioned the benefits of a consultant's externality, that they have varied experience outside the client company. In addition, because of economies of scaletheir focus and experience in gathering information worldwide and across industries renders their information search less costly than for clients.
From toseveral Big Four firms have tried to acquire Roland Berger.Make an enquiry or Book a consultancy. Find out exactly how we can help you and your business, request information now to take advantage of over 20 years within the bridal retail and commercial industry or book a consultation.
Editor's note: This article was excerpted from our Consulting Business start-up guide, available from the Entrepreneur Bookstore..
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