- I was reading this article below which delineates the differences between "Strategy Consulting" and "Advisory". Is Management Consulting just the technical term for the industry of "Consulting" (to differentiate it from just all kinds of small industries and people who refer to themselves as such?)
https://managementconsulted.com/management-consul…
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Further, is there another large component to the industry, or are these two the broadest breakdown? I know many of the accounting firms mainly got into 'advisory' in the last 15 years or so, often with a tax/accounting focus. Meanwhile the MBB types mainly focused on corporate strategy, operations structuring, and the more exotic.
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Where do some more niche types of players fit in? E.g. the "knowledge consultants" like GLG, or Industry-specific consulting firms, like the many healthcare ones? Are these just completely distinct one-off entities, or are they somehow part of a larger structure?
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