DID YOU KNOW?

Management consulting continued... By 1946, management consulting firms had become increasingly accepted by the business community. The U.S. banking and financial securities acts of the 1930s resulted in massive growth opportunities for professional management firms as they filled the void left by restrictions placed on the activities of bankers and accountants.

After World War II, the Federal Government brought in consultants from Booz-Allen & Hamilton to reorganize both the Army and the Navy, streamline civilian production, and oversee the rapid expansion of the Federal Administration. Professional consultants went on to implement American management techniques throughout the world. Since other countries hadn't regulated the separation of commercial and investment banking, American firms expanded into Europe in the early 1960s by selling their "know-how" to foreign managers. By the 1970s, McKinsey and Company had decentralized one-quarter of the hundred largest companies in Great Britain.

More tomorrow...