At ICMCI, we believe that the profession of Management Consulting (MC) contributes to the social and economic progress in a country. At the same time, its own development and growth are dependent on the conditions existing in that country. Understanding and evaluating this multi-layered relationship would help in determining the strength of the national Management Consulting sector and discover new pathways to drive it forward for the benefit of the society.
The ICMCI focused on these themes in its first National Consulting Index Global Report published in June 2020. The ICMCI’s community of Academic Fellows defined a set of five elements describing the environment of the management consulting industry globally. These combined elements of societal individualism, the ability to trade openly/freely, the degree to which public services embraces the digital agenda, ingredients around human creativity and the quality of human capital, societal tolerance and the absence or otherwise of corruption.
Then, a National Consulting Index (NCI) was created, which is indicative of the readiness of an economy for the emergence of management consulting as a profession. The NCI also made it possible to estimate the size (USD value) of the MC market in any country in the world.
The COVID-19 crisis has had an overwhelming impact on the society causing political, economic, and social disruptions. “Business as usual” is no longer an option and leaders are searching for ways to shape the post-COVID reset and recovery.
Under the circumstances, it was not possible to build on the 2020 NCI as it was. The situation called for a different approach.
While exploring an alternative route, we leveraged on ICMCI’s strengths and turned to our global network of Institutes of Management Consulting (IMCs).
In March and April 2021, ICMCI carried out a survey among its member institutes to identify the trends in the value of their own country’s management consulting market. The survey also took a snapshot of the IMCs’ perceptions of the factors impacting the consulting industry in the COVID-19 pandemic situation.
Using the KPI figure provided in last year’s study for the estimated size of the Management Consulting market as of June 2020, based on which we calculated the estimated size of the Management Consulting market per country for 2020, we were able to compare to the estimates provided as of June 2021. This led us to an assessment of the change in the market size. The data analysis was then taken to the next level creating valuable insights into the current status per country and hub, the major developments and outlook for the Management Consulting market globally.
The full NCI 2020 - COVID 19 Edition
The PowerPoint Presentation during the 2021 Interntional Consutlants Day Celebrations