For the ranking of "America’s Best Management Consulting Firms" the following market defintion was established: Along with classic management consultancy firms, IT consultancies and advisory branches of auditing firms (e.g. KPMG Advisory) consultancy branches of technology companies (e.g. IBM, Lockheed Martin) were considered.
The top list is based on two surveys:
- Statista created a longlist containing more than 1,300 management consulting firms
- More than 7,500 email addresses of partners and executives of management consultancies were found by researching on company websites
- Invitations to the survey were sent via email using a personalized link – the field period ran from 05 November to 31 December 2018
- Partners and executives could make recommendations for consultancies in 16 industries and 16 functional areas
- Giving a recommendation was not mandatory and an auto-complete function helped the respondent to select a consultancy. Respondents were also able to recommend any management consultancy which did not appear in the auto-complete list
- Self-recommendations were deleted
- A survey among ~ 1,000 senior executives was conducted through an online access panel
- Requirement: participants must have worked with management consultancies in the last 4 years
- Respondents were asked to state in which industries and functional areas they have collaborated with a management consultancy
- After that they could recommend management consultancies using a shortlist that was partially based on the expert survey
- It was also possible to recommend consultancies that were not on the shortlist
- The field phase was conducted in January/February 2019
In 16 different industries and 16 functional areas the most recommended management consulting firms were identified. They were then sorted into three different star classes based on the number of recommendations they have received from the two surveys. Recommendations from last year's surveys were also considered with a lower weighting, since the quality of a consultancy usually doesn’t significantly change within a year.
The companies were categorized in three different star classes:
***** very frequently recommended - the number of recommendations was at least two times larger than the average number of recommendations in the respective industry or functional area
**** frequently recommended - the number of recommendations was less than double, but more than the average number of recommendations in the respective industry or functional area
*** recommended - the number of recommendations was significantly higher than companies operating in the respective industry or functional area that have not been awarded (but less frequently recommended than the five or four star recipients)
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