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Brief facts about strategy consulting:

Management consulting is the practice of providing consulting services to organizations to improve their performance or in any way to assist in achieving organizational objectives. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external advice and accessing consultants' specialized expertise regarding concerns that call for additional oversight. As a result of their exposure to and relationships with numerous organizations, consulting firms are typically aware of industry "best practices". However, the specific nature of situations under consideration may limit the ability or appropriateness of transferring such practices from one organization to another. Management consulting is an additional service to internal management functions and, for various legal and practical reasons, may not be seen as a replacement for internal management.

Big Three (management consultancies) - The Big Three or MBB is the name colloquially given to the three large strategy consulting firms. They are considered to be the most prestigious firms in the management consulting industry. In terms of employees, McKinsey & Company is the largest and leads by revenue.

Big Four accounting firms - The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue.

Business development - Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. It is a subset of the fields of business, commerce and organizational theory.

Business process re-engineering - Business process re-engineering is a business management strategy originally pioneered in the early 1990s, focusing on the analysis and design of workflows and business processes within an organization.

Consultant - A consultant is a professional who provides advice or services in an area of specialization. Consulting services generally fall under the domain of professional services, as contingent work.

Consulting firm - A consulting firm or simply consultancy is a professional service firm that provides expertise and specialised labour for a fee, through the use of consultants.

Management occupations