Management consulting
Management consulting is professional advice that helps organizations diagnose problems and make decisions about strategy, operations, and management.
Consulting engagement: A defined consulting assignment with agreed objectives, scope, activities, and deliverables. It structures how a client’s question becomes a bounded project.
Corporate strategy: A company’s choices about which businesses to operate and how to allocate resources among them. Consultants help executives assess portfolios, growth directions, and resource allocation.
McKinsey & Company: A global management consulting firm founded in 1926 by James O. McKinsey. Its growth helped establish the model of advising senior corporate and government leaders.
Strategy consulting: Consulting focused on an organization’s long-term direction, competitive position, and major choices. It is a specialized branch of management consulting centered on strategic questions.
Hypothesis-driven problem solving: An analytical approach that proposes explanations early and tests them against evidence. Consultants use testable hypotheses to focus analysis and avoid collecting irrelevant data.
Operations management: The design and control of processes that produce and deliver an organization’s goods or services. Operations projects target cost, quality, capacity, and service performance.
Boston Consulting Group: A management consulting firm founded by Bruce Henderson in 1963. Its strategic frameworks became widely used in corporate planning.
IT consulting: Professional advice on information technology systems, architecture, and implementation. It centers on technology choices, although projects can overlap with broader management change.
Issue tree: A hierarchical breakdown of a problem into smaller questions that can be analyzed separately. It divides broad client problems into manageable lines of investigation.
Digital transformation: Organizational change that uses digital technologies to reshape processes, services, or business models. Consulting teams help connect technology investment with changes to work and strategy.