Do Management Consultancies get the right insights?

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Preeti Taneja

Entrepreneur | Posted on 5-Dec-2018

There aren’t definite ways to know for sure whether management consultancies get the right insights or not, except for them coming and revealing things from up and front. But then if you’re going carry that skepticism, you’ll have to doubt virtually anything and everything in the world. Can you do that? Can you doubt your parents, the society, your teachers? Perhaps not. So, I guess, there are a few things that you have to believe at their face value.

Coming back to the topic, I sure believe that top management consultancies do get the insights correct. They work with hundreds and thousands of clients—including some of the world’s leading brands. So, they are usually surrounded by extensive and reliable data. With the advanced tools and analytics that they use, they can easily throw in the chunk of that data and come up with helpful insights.

So, to answer your question, more often than not, management consultancies get the insights correct. Since I have worked in one of these, I can assure you that senior management is very sincere and you will get the right output.

Here are those top 5 you can rely on -

· Deloitte: Founded in 1845, it is one of the “Big 4” professional services companies. Its list of clients includes many big names, including Yamaha, Adobe and Dell. The company employs over a quarter-million employees across the world. Usually ranking among the best workplaces in the world, Deloitte was also the sponsor of 2012 London Olympics.

(Courtesy: WSJ)

· Accenture: It’s very likely that you know someone who works or, for that matter, aspires to work in Accenture. One of the world’s most recognized brands, it employs around 4,35,000 employees around the world. Aside from consulting solution, the company also offers a vast range of services in technology, operation, and digital. Unsurprisingly, it has worked with many big names since its inception in 1989, like Alibaba, Hewlett Packard, Nokia, and Oracle.

(Courtesy: Glassdoor)

· Boston Consulting Group: If you don’t already know about the company, don’t focus too much on its name. It’s a globally recognized management consultancy that’s present in 50 locations around the world. It was founded in 1963, now employing more than 14,000 employees. Often credited as the most difficult company to get in (rightly so!), in 2017, it was ranked among the highest paying companies in the USA.

(Courtesy: Ledger Insights)

· Bridgespan Group: Although founded just in 2000, this is a non-profit organization that has seen a mammoth-like growth in recent times. It specializes in offering its services to non-profits and philanthropists. Admittedly, it is often underrated, yet from its pay packages to work environment, it has given many global companies a run for their money. Its list of clients includes the likes of Ford Foundation, Goldman Sachs Foundation, Bill & Melinda Gates Foundation, and Save The Children.

(Courtesy: Wikipedia)

· McKinsey & Company: You simply can’t have this list and leave McKinsey & Company out. Founded in 1926, the company today employees over 27,000 people around the world. It offers a range of services. Interestingly, it doesn’t disclose the name of clients it works with. But it is widely known that top brands pay a fortune to get advice from McKinsey consultants.

(Courtesy: CNBC)

The decades of industry-existence, list of prestigious clients and large workforce alone outline the success stories of these top management consultancies.

Of course, there are many other names that are equally deserving to be on this “top management consultancies” list, including KPMG, A.T. Kearney, Bain & Co., and Ernst & Young.

Hope this answers your question.

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