Skip to main content Accessibility help
×
Hostname: page-component-76fb5796d-25wd4 Total loading time: 0 Render date: 2024-04-28T06:22:34.719Z Has data issue: false hasContentIssue false

6 - The Gilded Age of Consulting: A Snapshot of Consultants Circa 1960

Published online by Cambridge University Press:  18 August 2009

Christopher D. McKenna
Affiliation:
Saïd Business School, University of Oxford
Get access

Summary

By 1960, the three leading management consulting firms in the United States – Booz Allen & Hamilton, Cresap, McCormick and Paget, and McKinsey & Company – had reached the height of their power. Not necessarily the largest consultancies, these three firms oversaw the most prestigious assignments and referred to themselves, like the American automobile oligopoly, as the “big three” of management consulting firms. As the journalists at Forbes magazine explained in a feature article on Booz Allen & Hamilton:

The firms that Booz Allen likes to compete with are the other members of the club that includes McKinsey; Cresap, McCormick and a few others. All of these are sufficiently comfortable with one another's approach, work and pricing that they will often recommend that a prospective client also price a job with the others.

Like the “big three” automotive manufacturers, this elite “club” of consulting firms exercised significant economic influence and power. As management consulting firms, like the large law, accounting, and engineering firms, became a crucial element of the institutional infrastructure that undergirded the American economy, the leading management consulting firms commanded greater respect and authority. Thus, when these leading firms expanded overseas in the early 1960s, consultants not only transferred American managerial models but also the American institutional system that had routinized the use of management consultants within large organizations.

In retrospect, the big three consulting firms reached the height of their influence in the United States during the early 1960s.

Type
Chapter
Information
The World's Newest Profession
Management Consulting in the Twentieth Century
, pp. 145 - 164
Publisher: Cambridge University Press
Print publication year: 2006

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×