THE CONCEPT OF MANAGEMENT CONSULTING IN THE NEW ECONOMIC REALITIES

Abstract

One of the most important features of today's business is the significant change in the role of the consumer, given the development of new information technologies, as well as the increase in competition. Taking into account the rapidly changing customer demands, companies are constantly being forced to reconfigure their corporate strategy and tactics. However, not all enterprises and organizations have internal resources sufficient to provide a correct and timely response to current changes. In such difficult situations, companies resort to the help of qualified consultants or consultancy companies. Over the last decades, management consulting has gone through one of the most remarkable growth phases ever seen in the professional industry. The merger and acquisition processes that the consulting industry underwent in the 1960s continued actively until the 1990s, reducing the Big Eight to the Big Six. This trend continues to be maintained today, as there were five players in the titanium industry. So far, the „Big Four“ has been operating.