Issue:
The end of AIDS?
Fly Title:
Consulting bounces back
Rubric:
Competition is growing, and clients are becoming more picky
Location:
NEW YORK
Main image:
20110604_wbd002_0.jpg
WHEN times are good, they are very, very good for consultants. But when they are bad, they are horrid. As the economy stalled in 2009, the global consulting industry shrank by 9.1%. It was the worst year since at least 1982, according to Kennedy Information, an industry monitor.
Now the kids are back in the conference rooms. Companies that shelved plans during the recession are dusting them off and looking for help. And the work is more cheerful. When bosses did hire consultants in 2009, 87% of projects were aimed at cutting costs rather than boosting growth, says Kennedy. This year, just 47% of project spending will be on cutting costs. The rest will go on growth plans, from mergers to installing new computer systems. But not all will benefit equally.
Consulting is a diverse industry. Best known are the elite strategy consultancies such as ...
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