Top Management Consulting Firms Challenged

It seems like everyone these days is in management consulting. There are strategy consultants, business consultants, technology consultants, IT consultants, marketing consultants, so called experts in Private Equity, the list goes on and on. But who are the top management consulting firms?

It’s a catch-all title for someone who gets paid to give their advice on particular subjects to companies.

In this article, I’ll attempt to answer 2 big questions regarding top management consulting firms:

Who are management consultants? -McKinsey, Accenture, BCG, Booz & Co, Accenture, Ovesto…what’s the difference between different management consulting firms and what makes the top management consulting firms?

Who are Management Consultants?

Management consultants help businesses improve their performance and grow by solving significant problems, assisting with an organizational turnaround, private equity financing, Mergers/Acquisitions, marketing consulting, and finding new and better ways of doing things. It’s not just in the private sector either – many firms work with public sector organizations to help develop their services and, where necessary, reduce costs and make savings.

McKinsey, Accenture, BCG, Deloitte, Ovesto…what’s the difference between top management consulting firms?

The consulting industry can be segmented accordingly:

1) Management consulting firms (e.g., McKinsey, Bain, BCG – Booz & Co) 2) One-stop-shop and technology-focused consulting firms (e.g., Accenture, Deloitte) 3) Smaller more focused consulting firms, and 4) Independent consultants.

Management Consulting or “strategy” firms are all probably more similar than they would like you to believe. They compete in the same industry, for the same business, and the same talent. The end product and approach are relatively similar. While some clients regularly use one firm, most clients are periodically switching between firms (and for smaller firms a lower price point) on a project-by-project basis. None of these firms is a consulting firm based in Tampa.

One-stop-shop consultancies are huge and offer services that range from strategy to finance to Information Technology to Business Intelligence. Their advantage is in the size of their practice. Still, the weakness tend to be that the engagements primarily staffed with unexperienced new college graduates without a depth of either industry or specialized skills.

How is Ovesto’s Fractional Executive Model Different?

Ovesto is different because we are challenging the current staffing and management consulting models. Based in Tampa Bay, we are a combined management consulting and executive staffing company that applies the best tools, senior personnel, and methodologies of larger consultancies in the nimble on-demand model. We provide the personalized attention—of a smaller firm.

Our mission is clear. We go deep to unlock insight and dare to act. We offer experienced fractional executives to challenge established thinking and drive transformation.

We work with our clients to build the capabilities that enable organizations to achieve a sustainable advantage through targeted efforts. The quality of our people is the cornerstone of our ability to serve our clients. Each of our senior leaders has been a prior C-level executive or former partner in a massive Big 4 or management consulting firm.

Summary of the Best Management Consulting Firms

Small or Niche consulting companies can provide you with a reliable alternative to the large management consultant or one-stop-shops. Through specialization, these firms can help you achieve an elegantly innovative solution. The expert consultants found at smaller consulting firms know their industries and can tap into that experience to efficiently produce valuable outcomes.

A company like Ovesto offers organizations highly experienced senior executives that address specific problems or aspects of a business or that provide services to particular types of companies.

Ovesto’s goal is to improve each client company’s efficiency and profits by providing fractional executives on a fractional, project-based, or interim basis.

For more information about Ovesto or any questions related to consulting private equity, and our core competencies, contact us at info@ovesto.com.