Adapting to Disruptive Changes in the Digital World: Management Consulting Majors

Alexey Bereznoy

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2024, vol. 18, issue 3, 16-27

Abstract: Management consulting is one of the fastest-growing sectors of the modern economy, highly resilient to the macroeconomic fluctuations. Nevertheless, a number of prominent researchers note the disruptive trends in the global consulting industry due to the proliferation of digital technologies, especially big data analytics and artificial intelligence, and predict disruptive implications of these trends for the traditional industry leaders. In an effort to understand the validity of such assessments, the author of the paper consistently analyses the evolution of the management consulting industry landscape, examines the key factors of disruptive change caused by the increasing digitalisation of the industry, and considers the main mechanisms global industry leaders apply to adapt to the rapidly evolving digital environment. It is concluded that, despite the digital transformation challenges, the leading players of the global consulting industry not only continue to dynamically grow and maintain their dominant positions in global markets, but also actively expand into new market segments emerging due to the digital shifts.

Keywords: management consulting industry; disruptive innovation; digital transformation of consulting; factors of disruptive change (search for similar items in EconPapers)
JEL-codes: O32 O33 (search for similar items in EconPapers)
Date: 2024
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