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The Transformative Impact of Artificial Intelligence on the Management Consultancy Sector 人工智能对管理咨询业的变革性影响
Management Consulting Journal Pub Date : 2024-01-01 DOI: 10.2478/mcj-2024-0006
Konstantin Samokhvalov
{"title":"The Transformative Impact of Artificial Intelligence on the Management Consultancy Sector","authors":"Konstantin Samokhvalov","doi":"10.2478/mcj-2024-0006","DOIUrl":"https://doi.org/10.2478/mcj-2024-0006","url":null,"abstract":"\u0000 This paper explores the transformative impact of Artificial Intelligence (AI) on the management consultancy sector over the next five years. Tracing the evolution of AI from its inception in 1956 to recent language and image capabilities, the study addresses the imminent challenges posed to consultancy by AI startups. Examining global legislative approaches, including the EU’s strict AI Act, the UK’s flexible stance, the self-regulatory approach in the US, and China’s targeted regulations, it unveils the legislative ambiguity for software developers. The essay anticipates transformative implications on consultancy firms, emphasizing the war for talent, potential shifts in business models, and the evolving role of consultants as agents of thought. As AI becomes integral, consultancy firms are urged to adapt, incorporating AI into their models while navigating ethical and legal considerations. The paper underscores that while AI will automate mundane tasks, strategic decision-making remains a strength of consultancy firms, ensuring continued relevance in the evolving landscape.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"51 1-2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140517281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The National Consulting Index 2023 2023 年全国咨询指数
Management Consulting Journal Pub Date : 2024-01-01 DOI: 10.2478/mcj-2024-0001
S. Haslam, Alan Blackman, Claire Carey
{"title":"The National Consulting Index 2023","authors":"S. Haslam, Alan Blackman, Claire Carey","doi":"10.2478/mcj-2024-0001","DOIUrl":"https://doi.org/10.2478/mcj-2024-0001","url":null,"abstract":"\u0000 The National Consulting Index (NCI) determines the strength of a national management consulting sector relative to other countries. It was first created in 2017 following research and analysis conducted at the International Council of Management Consulting Institutes (ICMCI). This paper provides an update to the NCI project and estimates the size of the management consulting sectors for several countries around the world. The paper also offers qualitative insight from some countries about the trends and dynamics of their management consulting industries.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"14 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140522978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Management Consulting’s Black Holes: A Question of Time and Space 管理咨询的黑洞：时空问题
Management Consulting Journal Pub Date : 2024-01-01 DOI: 10.2478/mcj-2024-0003
Cyril Kirwan
{"title":"Management Consulting’s Black Holes: A Question of Time and Space","authors":"Cyril Kirwan","doi":"10.2478/mcj-2024-0003","DOIUrl":"https://doi.org/10.2478/mcj-2024-0003","url":null,"abstract":"\u0000 Performance improvement interventions undertaken by management consultants, like many others, can experience difficulty in ensuring that the bulk of the effort put into the intervention translates into the desired change. While consultants themselves are limited in what they can control once their work is completed, there are nevertheless activities they can carry out or at least initiate to improve the chances of change being brought about. Goal setting, self-management and action planning have demonstrated positive effects, particularly where behavioural change is required. Similarly, based on a tested model of learning transfer, other activities relating to peer support, manager support and external coaching can be encouraged and set in train.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"155 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140521513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Management Consulting in the Artificial Intelligence – LLM Era 人工智能时代的管理咨询--法律硕士
Management Consulting Journal Pub Date : 2024-01-01 DOI: 10.2478/mcj-2024-0002
Sai Krishnan Mohan
{"title":"Management Consulting in the Artificial Intelligence – LLM Era","authors":"Sai Krishnan Mohan","doi":"10.2478/mcj-2024-0002","DOIUrl":"https://doi.org/10.2478/mcj-2024-0002","url":null,"abstract":"\u0000 Management Consulting is one of the oldest and most well-established professional services across the world. Consultants have developed subject matter expertise and competency in a variety of areas such as General and Strategic Management, Financial Management, Marketing & Distribution Management, e-Business, Operations Management, Human Resource Management, Knowledge Management, Enterprise Performance Management, Business Transformation, Quality Management, and Information Technology. Information Technology as a discipline has evolved rapidly in the last three decades with software development paradigms and the advancement in artificial intelligence (AI) and machine learning (ML) technologies. The space of AI & ML technologies is rapidly evolving, impacting the way insights are arrived at, how decisions are taken, organization models, and organization structures. This article explores the challenges, new opportunities and potential changes to the ways of working for management consultants given the developments in AI, particularly with large language models.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"14 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140522521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Creation of Chartered Management Consultant: A UK Gold Standard for Consulting Competence 创建特许管理咨询师：英国咨询能力的黄金标准
Management Consulting Journal Pub Date : 2024-01-01 DOI: 10.2478/mcj-2024-0004
John P Tibble
{"title":"The Creation of Chartered Management Consultant: A UK Gold Standard for Consulting Competence","authors":"John P Tibble","doi":"10.2478/mcj-2024-0004","DOIUrl":"https://doi.org/10.2478/mcj-2024-0004","url":null,"abstract":"\u0000 This paper explains the creation and purpose of the Chartered Management Consultant (ChMC) award in the UK, outlines the preparation and initial launch of the accreditation, describes the growth to mid-2023 and discusses how continued growth is needed not just in volume of chartered practitioners, but in the diversity of the accredited community.\u0000 The paper describes the purpose and creation of the award, reviews growth and suggests where to focus next. The first part describes the two UK organisations who have been responsible for setting up and promoting the ChMC award – Chartered Management Institute (CMI) and the Management Consultancies Association (MCA) – and how the ChMC award supports their respective organisational raison d’etre. The second part provides a timeline between 2017 and 2020, in the run-up to the global pandemic. The third part describes the promotion of ChMC and the setting of pace coming out of the pandemic. The fourth part reviews the channels and levers used to accelerate growth in the take-up of ChMC during late 2022 and early 2023; and reflects on how to balance growth in volume of uptake whilst maintaining an appropriately reflective blend of community diversity. The fifth part discusses the practical challenge of promoting an industry-wide standard in a hitherto-unregulated environment. The sixth part covers the case for a strengthened approach; and The seventh and final part covers closing comments and a possible approach to build on the success achieved by CMI/MCA to date, drawing on the CMI’s IC arm.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"6 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140519184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Artificial Intelligence’s Impact of the Management Consultancy Sector over the Next Five Years 人工智能对管理咨询行业未来五年的影响
Management Consulting Journal Pub Date : 2024-01-01 DOI: 10.2478/mcj-2024-0005
Esioze Oarue-Itseuwa
{"title":"Artificial Intelligence’s Impact of the Management Consultancy Sector over the Next Five Years","authors":"Esioze Oarue-Itseuwa","doi":"10.2478/mcj-2024-0005","DOIUrl":"https://doi.org/10.2478/mcj-2024-0005","url":null,"abstract":"\u0000 This essay explores the imminent impact of Artificial Intelligence (AI) on the management consultancy sector over the next five years. After tracing the historical context of technological innovation and societal unease with disruption, we delve into the current landscape of management consultancy, emphasizing its evolution and present dynamics. Specialized themes in the consultancy market today, such as internal consulting and data-centric approaches, highlight the industry’s dynamism.\u0000 The core focus anticipates the implications of AI on management consultancy, with a shift towards AI-powered analytics and insights transforming consultants’ roles. Market segmentation deepens as specialized AI-driven consulting firms emerge, challenging traditional players. The competitive landscape witnesses the entry of tech giants, intensifying competition and prompting strategic shifts in consultancy models. A forward-looking perspective considers changes in pricing and cost structures, emphasizing ethical considerations in AI deployment.\u0000 In this transformative landscape, a blended future emerges, envisioning AI-driven quick insights complemented by human consultants offering context, creativity, and empathy. This condensed exploration provides a crucial foundation for academics, industry practitioners, and policymakers navigating the evolving interplay between AI and management consultancy.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"2 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140525968","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The End of Management Consulting as We Know it? 我们所知的管理咨询的终结?
Management Consulting Journal Pub Date : 2023-05-24 DOI: 10.2478/mcj-2023-0009
M. Sayyadi, L. Collina, Michael J. Provitera
{"title":"The End of Management Consulting as We Know it?","authors":"M. Sayyadi, L. Collina, Michael J. Provitera","doi":"10.2478/mcj-2023-0009","DOIUrl":"https://doi.org/10.2478/mcj-2023-0009","url":null,"abstract":"Abstract The management consulting business model requires new changes in this new era of disruptions. The typical management consulting business mode is based on consultants either training and developing or engaging in actual management consulting. Today, this has been combined due to operational risk management. The reason is that identifying problems and providing solutions to senior managers is not enough today - consultants need to also be able to offer and execute solutions. Artificial Intelligence (AI) has placed consultants in what is known as a dual role. In this article, we examine the challenges of the management consulting business model and provide an alternative way for large consulting companies and those medium to small organizations to re-emerge with sustenance. These challenges were found in our interviews with 81 senior management consultants at McKinsey & Company and Boston Consulting Group, Inc. in the United States, Australia, Hong Kong, and the United Arab Emirates.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128081799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Consulting Advice on Investigations into Possible CEO Misconduct 就可能的行政总裁不当行为进行调查提供咨询意见
Management Consulting Journal Pub Date : 2023-05-24 DOI: 10.2478/mcj-2023-0013
Richard W. Leblanc
{"title":"Consulting Advice on Investigations into Possible CEO Misconduct","authors":"Richard W. Leblanc","doi":"10.2478/mcj-2023-0013","DOIUrl":"https://doi.org/10.2478/mcj-2023-0013","url":null,"abstract":"Abstract This paper sets out for fellow consultants: (i) internal controls to avoid a client’s hiring of a chief executive officer (CEO) who may have had a past or current instance(s) or pattern of misconduct; (ii) the forms of possible misconduct of a CEO; (iii) the component steps and process to follow in investigating such misconduct; and (iv) respecting a CEO’s procedural rights during the investigation. This paper provides consultants with content upon which to advise during their practices, including their advice to organizational clients, senior management, and boards of directors.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"54 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130469741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Researching Practice Areas of Consultancy Firms 研究咨询公司的业务领域
Management Consulting Journal Pub Date : 2023-05-24 DOI: 10.2478/mcj-2023-0012
Christoph Williams, Sander van Triest
{"title":"Researching Practice Areas of Consultancy Firms","authors":"Christoph Williams, Sander van Triest","doi":"10.2478/mcj-2023-0012","DOIUrl":"https://doi.org/10.2478/mcj-2023-0012","url":null,"abstract":"Abstract We reflect on a multi-year study of practice areas within professional service firms that has resulted in impact in various ways, including research publications, class teaching, and industry dissemination. We describe the challenges in conducting academic research at the practice area level, rather than the firm level. These challenges are grouped into two camps: fieldwork challenges and conceptual challenges. While we navigated these during our project in order to achieve our goals, we believe more work needs to be done at the practice area level within the consultancy industry, especially as this unit of analysis is affected by trends in AI and ESG that were not so prominent 20 years ago. We suggest one way forward will be to utilize collaborative systems approaches through a holistic stance, rather than focus on narrow sets of variables in a reductionist stance.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122257409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Using Chinese Wisdom to Rekindle Strategy Consulting 用中国智慧重振战略咨询
Management Consulting Journal Pub Date : 2023-05-24 DOI: 10.2478/mcj-2023-0011
Weishan Xie
{"title":"Using Chinese Wisdom to Rekindle Strategy Consulting","authors":"Weishan Xie","doi":"10.2478/mcj-2023-0011","DOIUrl":"https://doi.org/10.2478/mcj-2023-0011","url":null,"abstract":"Abstract Strategy consulting has plateaued since 1995, argues former Harvard Business Review editorial Walter Kiechel III. Kmind, the top Chinese strategy consulting firm, has found the spark to reignite the industry: Oriental wisdom. By repeatedly transforming firms from obscurity to market leaders by directly implementing their solutions, they provide a solid proof-of-concept for the next generation of strategic consulting.","PeriodicalId":367213,"journal":{"name":"Management Consulting Journal","volume":"IA-23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126564238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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