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, by Christopher D. McKenna
Download , by Christopher D. McKenna
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Product details
File Size: 2546 KB
Print Length: 394 pages
Simultaneous Device Usage: Up to 4 simultaneous devices, per publisher limits
Publisher: Cambridge University Press (June 19, 2006)
Publication Date: June 19, 2006
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B00E3URAAG
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A discussion of the consulting industry from its early origins in the late 1800s is what makes this book unique. The commentary that McKenna offers is superb. And some readers may be interested in the substantial end notes provided for this history, something rarely seen in books of this genre. While management consulting is the focus, a limited discussion of technology consulting is also provided. The subject of this book is the answer to the question of "just how had the leading management consulting firms come to achieve such a dominant economic and cultural position?" As McKenna explains, "the historical explanation for the dominance of management consulting, as it turns out, was not to be found in the pragmatic choices of university graduates, but in a set of regulatory changes in America during the 1930s, the 1950s, and the 1980s that were bolstered by the strategic development of new markets by the leading management consulting firms. American antitrust regulation shielded early consultants from competition from rival professionals even as entrepreneurial firms created new lucrative practices by concentrating on particular market segments[.]" In fact, "this regulatory history helps to explain why most of the leading management consulting firms in the world are American in contrast to the other business professions, like law or accounting, where state regulation did not favor one geographic market over another. Remarkably, the regulatory history returned to haunt management consulting firms at the end of the twentieth century because corporate board members had come to rely so heavily on professionals to reduce their corporate liability. Throughout the twentieth century, state regulation, as much as international innovation, first shaped and then reshaped the evolutionary path of management consulting". Very timely reading, especially in light of the recent (January 2009) revelation that PricewaterhouseCoopers was the auditor of Satyam Computer's doctored accounts. McKenna discusses the seemingly similar (and familiar) case associated with Arthur Andersen and Enron, but not until the ninth chapter, and this is not the focus of the book (there have been other texts solely focused on the Enron case if that is what interests the reader). This book provides remarkable insight into the consulting industry, and is recommended reading for all consultants, those who are considering consulting as a profession, and all business professionals seeking better understanding of the consulting industry.
McKenna's book is truly unique. Most books about management consultants either deal with their strategic tools, influence on businesses, or trash the consultants based on some select scandals. The author has done something wonderful and different here. He explains the institutional and economic circumstances that helped birth this industry. We learn how the 1930s and regulation helped consultants get off the ground, what the various firms have made out of it, and where we stand today. If you are an executive, understanding the history of your consulting firms might be very valuable when dealing with them, as each firm carries some tacit historical knowledge in it. I also enjoyed some funny cartoons courtesy of McKinsey that the firm made available for this book. Overall, The World's Newest Profession has filled a void in the growing literature dealing with consultants.
This is an excellent book covering the history and development of management consulting. The foundation and prospering of the "profession", its dependence on somewhat arbitrary regulatory decisions and the continuing impact of government policy and court actions on its development is clearly explained. There is also much practical comment and speculation on the likely effects of recent legal changes on the industry's development.McKenna's detailed research and extensive knowledge of the field is evident but he (mostly) successfully avoids strangling his narrative with excessive detail, encapsulating them in footnotes. Speaking of which, the footnotes can be a little overpowering - more than 100 pages worth. Maybe he should have highlighted the more entertaining ones to make them easier to find.Overall, I found the insights interesting and thought provoking. Definitely worth reading if you have an interest in the history or future of the profession.
Many books have been written about management consulting, but none with the scholarly rigor, analytical sophistication, or deep research of McKenna’s, a true work of scholarship but also eminently readable.
Christopher D. McKenna wrote a book every consultant should read. It explains the history of consulting but also shows how US professional services and US companies developed long time ago an ecosystem in order to grow and develop their business all around the world. A must-read. Olivier R. Chaduteau, Managing Partner of Day One Consulting.
This is the first thoughtful history of the management consulting that I have found. It is extremely readable and well documented: highly recommended for any consultant who craves an understanding of their profession's past.
Although the style and format are a bit academic, I'd highly recommend to anyone in, or interested in the management consulting industry.
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