Florian Bauer’s Post

🌍 Unpacking the Global Consulting Landscape 🌍 The consulting industry is a fascinating ecosystem, driven by innovation, expertise, and strategic impact. What stands out most to me is how a relatively small group of firms—just the top 20—wields tremendous influence. These firms, representing giants like Accenture, Deloitte, and PwC, dominate nearly 50% of the global consulting market, showcasing their stronghold on strategy, operations, and digital transformation consulting. Interestingly, these firms manage to generate twice as much revenue per consultant compared to smaller firms, a clear testament to their efficiency and scale. Yet, despite their dominance, these top companies only employ one-third of the entire consulting workforce—leaving room for innovation and disruption by smaller players and boutique consultancies. As someone who is eager to break into the world of consulting, these figures inspire me to learn from the best while staying open to the diverse opportunities available in the broader consulting landscape. I look forward to contributing to this dynamic industry that thrives on problem-solving and transformation! #Consulting #Strategy #BusinessInsights #ConsultingCareers #GlobalConsulting #FutureConsultant

The annual #FORBES "Worlds Best Management Consulting Firms" Ranking is out! Here are some insights into the survey to better understand the significance: 👉 Rating: Accenture got the highest star rating 💪 (26 5-star & one 4-star) in the major categories being recognised by Forbes as the #worldsbest management consulting company ahead of #McKinsey, #Deloitte, #BostonConsulting, #Bain&Company, #KPMG, #PWC and #EY. 👉This implies that Accenture continues to lead the industry in excellence and innovation. 👉Methodology: The survey was created in partnership with market research firm #Statista, based on three national surveys of consultants (partners and managers at consulting firms) and clients (executives) in the #UnitedStates, the #UnitedKingdom, and #Germany; as well as a global survey of 8,500 consultants and clients in 29 countries across all continents. ❤️ Our people are the heart of Accenture. Their dedication, passion, and teamwork have made this award possible. We prioritize inclusivity and well-being, creating a culture where everyone can thrive. Together, we're helping clients reinvent their businesses with cutting-edge technology. For more information please see the link to the Forbes announcement in the comments section.

As a proud alumnus, I feel super elated reading this. Accenture Tops the Forbes World’s Best Management Consulting Firms in 2024. Eight firms on list earned stars in all 27 categories, and they were the same top performers as last year. But this year, Accenture led that pack—bumping Mckinsey from the head of the list—with Accenture receiving 26, 5-star ratings and one 4-star rating, while McKinsey received 24, 5-star ratings and three 4-star ratings. For the second year in a row, Deloitte earned 25, 5-star ratings and two 4-star ratings. The other five firms that received stars in all 27 categories (specifically, 4- and 5-star ratings) were Boston consulting Group, Bain & company, KPMG, PWC and EY. The World’s #BestConsultingFirms2024 was created by Forbes in partnership with market research firm Statista.

"The ranking was compiled through a rigorous process built around a capabilities assessment (thousands of data points across five dimensions), and the views of clients (over 900 reviews) and consultants (over 2,800 firm reviews across the different areas of service)." 🚀You can find Agile Dynamics in Top 100 firms in the Middle East 2024.

𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓 𝐂𝐎𝐍𝐒𝐔𝐋𝐓𝐀𝐍𝐓 𝐏𝐋𝐀𝐘𝐁𝐎𝐎𝐊𝐒 | 𝐃𝐢𝐦𝐢𝐧𝐢𝐬𝐡𝐢𝐧𝐠 𝐑𝐞𝐭𝐮𝐫𝐧𝐬 #𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐢𝐧𝐠 #𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 #𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 You can lead change better than any top tier management consultant (McKinsey & Company , EY, BDO, Boston Consulting Group (BCG), Oliver Wyman, Accenture and KPMG. Their “playbooks” are mostly packaged academic theory and models (some not evidence- based). 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐧𝐭𝐬: - Costly to access - Dependency driven - Culturally misaligned - Quick “off the shelf” solutions - They own the IP 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠: - Specialist capability/capacity building in targeted disciplines - Sustainable and cost-effective - Better long-term return on (people) investment - Culturally aligned - You own the IP

Simon-Kucher a global consultancy, has been named among the World’s Best Management Consulting Firms 2024 by Forbes The firm stood out as a leader in 11 sectors and functional areas, notably earning one of only five five-star ratings globally for the Marketing function. Forbes partnered with market research company Statista to survey business leaders across multiple countries and rank the most recommended firms. “We are proud to receive this global acknowledgment from Forbes for our work across so many sectors and services,” said Mark Billige, co-CEO of Simon-Kucher. “As the world’s leading growth and pricing specialist, we strive to create better, long-term, sustainable growth for our clients, their customers, and society as a whole. This acknowledgment is a direct reflection of our team's dedication, expertise, and exceptional service. It’s clear that their hard work does not go unnoticed within the consulting industry and the sectors we serve.” #simonkucher #pricing #revenuemanagement #pricingetrategy #managementconsulting #revenue #profitability #profit #growth #pricing

"𝗥𝗲𝗱𝗲𝗳𝗶𝗻𝗶𝗻𝗴 𝗩𝗮𝗹𝘂𝗲 𝗶𝗻 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴: 𝗜𝘀 𝘁𝗵𝗲 𝗧𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗠𝗼𝗱𝗲𝗹 𝗟𝗼𝘀𝗶𝗻𝗴 𝗚𝗿𝗼𝘂𝗻𝗱?" The current landscape in the consulting industry warrants serious reflection. Following EY's recent announcement of cutting jobs and McKinsey's downsizing announcement, there's a palpable sentiment that the perceived value consultants traditionally brought to organisations is eroding swiftly. In my discussions today with a learned colleague, a prevalent notion emerged: consulting firms are facing a growing trend of being "disempowered" by clients. While certain sectors within the consulting market are experiencing sharper declines than others, it's alarming to note the evolving dynamics. In my consulting space - Business Improvement and Management Operating System (MOS) deployment sector, for instance, there's a noteworthy shift. Some companies are bypassing traditional consulting avenues, opting instead to engage contract personnel through labor hire firms at significantly reduced rates—often less than half of the standard daily rate. This raises pivotal questions about the future trajectory of consulting services. Are we witnessing a paradigm shift where the market no longer recognises the value proposition offered by consulting firms and independent consultants? Is it imperative for consulting entities to recalibrate their fee structures to remain competitive and relevant? I invite your perspectives on this pressing issue. What are your insights on the evolving role and value of consulting in today's market? Your thoughts are valuable—please share them below.  #managementconsulting #consulting   

Comparing my experiences with 𝐁𝐂𝐆 and 𝐏𝐰𝐂 consulting simulations. Having recently completed PwC's program as well, here's how BCG 𝐬𝐭𝐨𝐨𝐝 𝐨𝐮𝐭 about their in-depth approach:- ⚖️ 1. 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜𝐢𝐭𝐲 BCG - Open-ended tasks requiring analysis of vast information PwC - Focused tasks with clear-cut data points for analysis 2. 𝐂𝐨𝐮𝐧𝐭𝐞𝐫𝐩𝐨𝐢𝐧𝐭𝐬 BCG - Develop strategies considering client and departmental perspectives of potential issues during implementation PwC- N/A NOTE❗: The 𝐭𝐢𝐦𝐞 𝐜𝐨𝐦𝐦𝐢𝐭𝐦𝐞𝐧𝐭 for PwC's simulation was less compared to BCG's, which likely explains the difference in depth. Would definitely recommend 𝐛𝐨𝐭𝐡 programs for anyone interested in exploring consulting! #Consulting #jobsimulation #BCG #PwC #Forage

Exciting Achievement Alert! 🚀 I’m excited to announce that I’ve recently completed the Management Consulting Program with PwC and Forage! 🎓 This program offered a hands-on opportunity to dive into the world of consulting, and I walked away with valuable lessons and skills that I’m eager to apply in my career. Here’s a glimpse of what I worked on: 🔍 Business Summaries: Identified and communicated key corporate growth and transformation drivers. 💼 Divestiture Strategy: Developed an interview guide to assess business divestitures and transition opportunities. 📊 Synergy Analysis: Presented a synergy evaluation by combining qualitative insights with financial data to maximize the value of business combinations. 📈 Excel Modeling: Built a dynamic financial model to assess synergies, applying real-world data and strategic assumptions. Key Takeaway: Consulting is about translating complex problems into actionable insights, and this experience reinforced my belief that impactful solutions come from a combination of analytical precision and strategic foresight. A huge thanks to PwC and Forage for this fantastic opportunity! I’m looking forward to leveraging these skills in future projects and engagements. #ManagementConsulting #BusinessStrategy #Consulting #Growth

Have McKinsey and its consulting rivals got too big? https://lnkd.in/dYuEeWUd from The Economist Are we about to see an end to the trend whereby the best and brightest graduates are lured away from work that actually yields tangible development, such as factories, infrastructure, inventions and science, and towards becoming management consultants?