Today’s article in The Economist looks at the top three consulting companies – Bain, BCG and McKinsey. It offers a quick overview of the current consulting world – points out for small differences in growth rate and the new competition.
1. Each company has a well established reputation, but mutually learn from each other – the successful use of the alumni network is no longer the exclusive domain of McKinsey and in return the company learned to share more information with the public, as BCG does.
2. What does competition by Big 4 in management consulting look like? Accounting consulting giants are buying up smaller companies in order to improve their consulting division, such as the (failed) attempt of Deloitte to acquire Roland Berger. Elite management consulting firms certainly acknowledge the Big 4 as valid competition.