The global consulting market is currently approaching an estimated worth of nearly $150 billion, up from $122 billion in 2012. According to Consultancy.uk analysis on data from a leading analyst firm, the 10 largest consulting firms retain a firm hold on the majority of market activity – which looks set to experience steady growth for the following two years. Judging from present rates of expansion, by the end of 2017, the global consulting industry is forecast to top a worth of $155 billion, with the industry having booked consistent 5% growth for the previous two years.
To create value in a changing business environment, IT departments may need to better align their strategy with the wider business. A new report finds that IT departments that do so, particularly those that report directly to the CEO, tend to be the most effective.
IT is expected to see considerable changes over the coming five years, as business models shift and IT becomes increasingly integrated with wider business processes. The function is not always equally effective in value creation at present, and a new report from McKinsey & Company looks at various ways in which companies might align business and IT strategy to improve that overall performance. The report is based on a survey of 709 participants, with 395 of whom had a technology focus, while the remaining 314 were C-level executives representing other functions.
Strategy and management consulting remains the preferred destination of choice for graduates, according to new data. Of the UK’s students, around one-fifth are interested in pursuing a job in the consultancy industry. So what makes strategy and management consulting so popular among students? And what kind of students feel attracted to the industry?
A recent survey of Chief Human Resources Officers (CHROs) across the globe has found that business acumen is the most lacking skill when looking for top level HR talent. Those questioned also cited key concerns around engagement and leadership when it comes to meeting long-term strategic goals. Aligning talent strategy to overall business strategy is a key factor keeping respondents up at night.
The Benelux consulting market broke through the €2 billion barrier for the first time last year, following 3.6% growth on the back of a booming digital space. However, growth slowed from 5% the previous year as competitive market conditions begin to bite for management consultancy firms in the Netherlands, Belgium and Luxembourg.
An analysis of data by Source Global Research, a UK based analyst firm for the management consulting industry, shows that the Benelux region of Belgium, Luxembourg and the Netherlands recorded a fourth year of consecutive growth in 2016. The Netherlands, the region’s largest market, experienced growth of 3.3% in 2016 to hit €1.18 billion, while Belgium also recorded modest growth of 3.6%, reaching €610 million. The region’s smallest market meanwhile fared the best, with Luxembourg seeing its advisory landscape expand by 4.9% to €228 million, driven by a large financial services consulting market.