SIC 8742 Management Consulting Services
Encyclopedia of American Industries › Service Industries (2009)
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SIC 8742 Management Consulting Services
SIC 8742
This industry consists of establishments primarily engaged in furnishing operating counsel and assistance to management of private, nonprofit, and public organizations. These establishments generally perform a variety of activities, such as strategic and organizational planning; financial planning and budgeting; marketing objectives and policies; information systems planning, evaluation, and selection; human resource policies and practices planning; and production scheduling and control planning.NAICS CODE(S)541611Administrative Management and General Management Consulting Services541612Human Resources and Executive Search Consulting Services541613Marketing Consulting Services541614Process, Physical, Distribution, and Logistics CounselingINDUSTRY SNAPSHOTIn the early 2000s, management consulting was an $80 billion enterprise within the United States and a $100 billion industry worldwide. Nothing has funneled more money into the business world than information technology consulting, which boomed in the 1990s as companies groped for ways to harness the benefits of office automation, network computing, and e-commerce. Other important consulting specialties include general strategy, marketing and branding, leadership, logistics, human resources, and industry-specific practices. All told, one standard reference on the industry lists 118 distinct types of consulting services offered and 98 industries served.In many ways the industry has been propelled by what could be described as business fads—philosophies, events, and practices that ignite intense interest for a few years but gradually fade. One such example was the rise of reengineering, ...See the full content of this document
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