Business management can be interpreted in so many different ways by so many different people that it is sometimes difficult to believe that it is both a subject that can be taught at very high levels and a skill that people can sell in return for a high financial reward. However, if you think about it, the so called “captains of industry” in history; who took their personal ideas and turned them into business empires must have known something that the rest of us had not thought of. Obviously, they had all made plans and developed strategies to fulfill those plans.
Maybe Their Strategies Could Be Taught To Others?
Obviously, people thought so and specialized colleges began to be set up to teach business management and strategies – the Harvard Business School was founded in 1908 and they were not the first. Coincident to the rise of business studies came those who took a different approach to the sharing of management techniques. Businesses that we know today as Management Consultants probably started with one Arthur Dehon Little who founded Arthur D. Little Inc in 1886. Since his consultancy work was maybe more technical in the beginning; it may be the first full time management consulting organization was really started by Frederick Winslow Taylor in 1893. Taylor is credited with inventing formalized methods for organizing work (which became known as Scientific Management or, the Taylor Method).
Following Taylor’s lead other management consultants started to appear – such as Booz Allen Hamilton Inc. in 1914 or McKinsey & Company in 1926. In the 1930’s, Government legislation led to more businessmen seeking strategic business advice which triggered considerable growth in the Strategic Business Consulting sector. This growth continued through to the 1990’s (when there were some 30 American management consultancy firms employing more than 1,000 people).
Separate Consultancy Specialization
In the provision of business services, there are a number of possibly overlapping sub-divisions such as human resource consulting or information technology consulting but Strategic Business Consulting is, perhaps one of the most important. It is strategic management that gives an overall direction to a business by specifying the objectives and developing the plans and policies that can achieve the desired results. Resources then have to be allocated and the progress of the plan’s implementation has to be closely monitored and amended where necessary. This is what Strategic Business Consulting can do for your business.
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