Abstract:This study contributes to the growing body of research concerning management consultancies by linking two previously disparate fields of study: (1)
“…Although numerous consulting firms may be publishing on future skills, our search strategy focused on credible GMCFs that have been influential in global policy. Research suggests that a firms’ reputation and ranking are important determinants of clients’ decisions to hire them [ 53 ] and comply with their reccomendations [ 54 ]. Therefore, we used rankings from the reputable [ 55 , 56 ] market research agency, Vault, to select the top ten “most prestigious” global management consulting firms in 2020 [ 57 ].…”
Given the growing influence of non-academic organizations in the policy sphere, it is important to investigate the evidence both produced by and relied on by these organizations. Using citation analysis, a methodology primarily used in academic literature, we investigated the evidence base supporting the grey literature published by leading global management consulting firms (GMCFs) and international organizations (IOs). With the topic of the skills needed for the future of work as a case study, we collected 234 reports published by influential GMCFs and IOs over twenty years. By extracting references from the bibliographies of these reports we: 1) analyzed referencing patterns by measuring citation counts, institutional self-referencing and utilization of scholarly sources; 2) compared reference patterns across GMCFs and IOs; and 3) described the most influential sources. Overall, both GMCFs and IOs showed increasing reliance on grey literature, demonstrated high levels of self-referencing, and had considerable variation in the number of sources referred to. Across type of publishing organization, we found that IOs had better referencing practices than GMCFs. Our findings call into question the evidence-base behind the reports published by these policy actors. We emphasize the need to rely on strong academic literature to inform policy decisions around the future of work.
“…Although numerous consulting firms may be publishing on future skills, our search strategy focused on credible GMCFs that have been influential in global policy. Research suggests that a firms’ reputation and ranking are important determinants of clients’ decisions to hire them [ 53 ] and comply with their reccomendations [ 54 ]. Therefore, we used rankings from the reputable [ 55 , 56 ] market research agency, Vault, to select the top ten “most prestigious” global management consulting firms in 2020 [ 57 ].…”
Given the growing influence of non-academic organizations in the policy sphere, it is important to investigate the evidence both produced by and relied on by these organizations. Using citation analysis, a methodology primarily used in academic literature, we investigated the evidence base supporting the grey literature published by leading global management consulting firms (GMCFs) and international organizations (IOs). With the topic of the skills needed for the future of work as a case study, we collected 234 reports published by influential GMCFs and IOs over twenty years. By extracting references from the bibliographies of these reports we: 1) analyzed referencing patterns by measuring citation counts, institutional self-referencing and utilization of scholarly sources; 2) compared reference patterns across GMCFs and IOs; and 3) described the most influential sources. Overall, both GMCFs and IOs showed increasing reliance on grey literature, demonstrated high levels of self-referencing, and had considerable variation in the number of sources referred to. Across type of publishing organization, we found that IOs had better referencing practices than GMCFs. Our findings call into question the evidence-base behind the reports published by these policy actors. We emphasize the need to rely on strong academic literature to inform policy decisions around the future of work.
“…Authors in articles agree that strategy creation is and can be strongly associated with MC services [2], [20], [29] - [30]. Capabilities and core competencies as a skill to perform activities are crucial in strategy crafting process and is identified as consulting success [12] - [13], [16], [31]. Support can be given for a company in local territory or operating worldwide and by also using same consulting company experiences in global markets with offering wide services within a field of business [6], [8] - [9], [21].…”
Section: Strategy As a Service And Practicementioning
The literature review aims to explore how companies collaborate with management consulting service providers. Also, the review identifies collaboration impact on company’s strategy and encompasses relevant theories and research results performed and developed in the field of management consulting, strategy and its development over decades as a supportive service for companies.; Literature review results are obtained with qualitative methods - by exploring insight from diverse selection of works covering management consulting and competitive strategy. Insights are analyzed by revealing patterns of how management consulting providers use their expertise to help their clients - various size companies in their path to craft the strategy or solve business related problems. Also, how management consulting firms identify their strategy-as-practice niche and create perception of value creation ability for clients. ; Research results indicate a connection between management consulting services and strategy as a service and practice and need for external knowledge and experience-based expertise. Findings indicate that for small and medium-sized companies it is often hard to craft and implement a competitive strategy with limited resources and inner management solution generating and executing capacity. Struggles that companies will face on the transformative path are decision taking in solving problems, change of a business model and setting up overall strategic direction and goals.; Research limitations relate to companies that experience struggle of how to craft strategies in collaboration with management consulting services that are provided by professionals that work with various size companies and industries.; The value of this paper is a literature review that covers up-to-date knowledge of what is known and what should be more deeply explored. Review includes the indication and collaboration opportunity direction of how to create a competitive strategy for various and especially small and medium-sized enterprises in modern business world. Paper can be used further for creating a theoretical model of how and when to efficiently use the management consulting services globally and is their actual impact. ;
“…Lastly, the rising use of consulting services has potential implications for client performance. For the most part, the literature has not directly addressed this concern (Fink and Knoblach 2017). On the one hand, functionalist or economic arguments (such as Transaction Cost Economics) assume that under specific conditions, the use of MCs should be more cost effective than relying on in-house services (Canback 1999).…”
Section: Hypotheses Developmentmentioning
confidence: 99%
“…Therefore, while ideas promoted or prescribed through consulting use may not always be fully implemented, one might further predict that: H2 : High levels of management consulting use by clients will lead to the increasing adoption of commercialization practices.Lastly, the rising use of consulting services has potential implications for client performance. For the most part, the literature has not directly addressed this concern (Fink and Knoblach 2017). On the one hand, functionalist or economic arguments (such as Transaction Cost Economics) assume that under specific conditions, the use of MCs should be more cost effective than relying on in‐house services (Canback 1999).…”
Section: Hypotheses Developmentmentioning
confidence: 99%
“…Nor is it clear from existing research what the impact of any inflated demand for MC services might have on client organizations, for example in terms of their performance and the services they provide to their own users such as citizens or patients. An underlying assumption is that demand inflation will be largely negative, although as Fink and Knoblach (2017, p. 588) suggest, much of the critical research ‘neither addresses the effectiveness of management consulting nor aims to improve the success of (change) interventions’.…”
The growing use of external management consultancy services by public sector organizations has generated controversy. Some claim that users have become overreliant on, or even addicted to, this source of knowledge. However, our understanding of this phenomenon and the precise nature of its risks is underdeveloped. In this article, we address these concerns by focusing on whether using consulting services inflates future demand and on its consequences for efficiency. This is examined in the context of the English National Health Service and the adoption of New Public Management practices such as outsourcing and private finance initiative contracting. Based on an analysis of four years of data, the results suggest that using consulting services is associated with demand inflation and has negative implications for client organizational efficiency. These findings reveal a strong management consultancy effect, emphasizing the risks associated with demand inflation, with implications for both theory and policy.
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