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Management Consulting Sector

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Management Consulting Sector

If you’re an individual, consulting might be an option before making decisions. But how do businesses approach it? 

 The management consulting sector is a key player in business, projected to be worth over $700 billion by 2027! 

Faris Al-Shahrani shares key insights into this growing industry

In recent years, companies and governments have increasingly turned to consulting firms for specialized tasks. These firms bring expertise in various sectors that may not exist internally, making them an efficient and effective solution for achieving goals.

Consulting has long existed, but its modern form emerged in the late 19th century during the Second Industrial Revolution, led by Arthur Little. Consulting firms initially focused on engineering and finance.

By the 1930s, consulting expanded, with firms growing in size and new branches emerging, such as:

• Strategic consulting   

• Financial consulting  

• Tech consulting

In 2023, the global management consulting market was valued at around $865 billion, and it’s expected to keep growing, reaching even higher levels!

Growth in Saudi Arabia: According to Source Global Research, the Middle East’s consulting market reached over $3 billion in 2021, with Saudi Arabia leading at $1.44 billion.

The recent decision to localize 40% of consulting jobs starting this year is a turning point for the sector in Saudi Arabia. This move aims to boost local employment and enhance the capabilities of Saudi talent, contributing to the national economy.

The Saudi Association of Management Consultants is a key initiative in developing the sector. It provides awareness programs and professional support, helping to enhance the competitiveness and efficiency of consulting in the Kingdom.

The “MBB” are the three biggest global management consulting firms:

• McKinsey & Company  

• Bain & Company   

• Boston Consulting Group

McKinsey & Company:

 Founded in 1929 by James McKinsey, a professor at the University of Chicago and a management accountant, it’s the largest management consulting firm globally.

Boston Consulting Group:

 Founded in 1963 by Bruce Henderson, BCG is one of the top three consulting firms with over 100 offices worldwide.

Bain & Company:

 Founded in 1976 by Bill Bain, a former VP at BCG, Bain operates in over 40 countries.

Local management consulting firms are experiencing significant growth, with several companies emerging recently, such as Mushar Consulting and Pure Consulting, among other


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