2019 RANKING & REVIEWS
TOP STRATEGY CONSULTING FIRMS
Intro: 2019’s Best Strategy Consulting Firms to Give Your Company a Competitive Edge
Strategy consulting firms can help your business look at things from a fresh perspective, offer you new ways of doing things, and help you gain a competitive edge over your competition.
But, how do you know which firms are the best at strategy consulting that will actually bring you a positive return on your investment? Knowing what to look for can be tricky if you’ve never worked with a strategy consulting firm before.
AdvisoryHQ works to make the search easier for you by reviewing multiple consulting firms in several specialty areas to pick out the best and the brightest. We use several factors when reviewing top strategic consulting firms including reputation, core values, and track-record.
If you’ve been cautious about bringing an outsider in to help you solve problems and ensure you’re positioned to be a leader in your industry, rather than a follower, learning more about the best strategy consulting firms may give you peace of mind.
Each firm on our list is chosen for being outstanding in their industry and bringing real value to their clients through strategic planning and systems that help businesses and organizations become more efficient, more productive, and better able to anticipate their customers’ needs.
Before we get into a summary of each top strategy consulting firm, we’ll review what this type of consultancy does and how they can help your organization.
Award Emblem: Top 11 Best Strategy Consulting Firms
Top 11 Best Strategy Consulting Firms | Brief Comparison & Ranking
Strategy Consulting Firms
|Bain & Company||5|
|Boston Consulting Group||5|
|McKinsey & Company||5|
|Strategy& (part of the PwC network)||5|
Table: Top 11 Best Strategy Consulting Firms | Above list is sorted by rating
How Can Strategy Consulting Help My Company?
How does a strategy consultant differ from any other type of consultant? What types of help can a strategy consulting firm offer?
Strategy consulting firms specialize in providing solutions based upon experience, industry knowledge and analysis. Rather than just offering advice, their guidance comes from learning intricate details of a clients’ operations so they can optimize decision-making and outcomes.
Strategy consultants provide valuable insight and suggestions, ultimately helping clients optimize their day-to-day decision-making process as well as ensure major decisions are made thoughtfully.
There are certain high-level decisions that can make or break an organization. It’s often hard for those inside a company to get away from “group think” and see things from a fresh perspective.
Strategy consultants bring a fresh, unbiased opinion and can help companies looking at important decisions ensure that every viewpoint and angle is covered. They can also undertake extensive research and analysis on a question to enable more informed decision-making.
What qualities do the top strategy consulting firms have?
We’ve found that the best strategy consulting firms offer qualities such as:
- Expertise in a business’s industry or topic area
- A devoted team that creates customized strategies
- The ability to optimize even the most challenging of situations
- An excellent reputation
- Case studies of successes they’ve helped clients achieve
2019 AdvisoryHQ’s Selection Methodology
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Detailed Review – Best Strategy Consulting Firms
Below, please find a detailed review of each firm on our list of 2019 top strategy consulting firms. We have highlighted some of the factors that allowed these strategic consulting firms to score so highly in our selection ranking.
Click on any of the names below to go directly to the review section for that strategy consultancy.
- Bain & Company
- Boston Consulting Group
- Cornerstone Research
- Deloitte Consulting
- McKinsey & Company
- Oliver Wyman
- A.T. Kearney
- Analysis Group
Click below for previous years’ rankings:
- 2018 Raking: Top 11 Best Strategy Consulting Firms (& 1 to Avoid)
- 2017 Ranking: The Top Strategy Consulting Firms
Combining human ingenuity with intelligent technology, Accenture is a top strategy consulting firm helping their clients transform and grow their organizations. In addition to strategic consulting, the firm offers management, digital, and technology operations.
Accenture has a reach that spans clients in 120 countries. Their global team of 477,000 works from offices and operations across 200 cities around the world.
As of 2019, the firm has been named to the list of Fortune’s “World’s Most Admired Companies” 17 consecutive times. Their popularity is also evident in client loyalty numbers, with 98 of its top 100 clients working with Accenture for 10 years or more.
Key Factors That Led Us to Rank Accenture as One of the Top Management Consulting Firms
The firm’s strategy consulting services are powered by deep industry expertise, insights, and expert analytics. In a world dominated by change, Accenture helps clients navigate with competitive agility.
Accenture understands that strategy consulting is important to help leaders act quickly and with confidence. A value they offer clients is access to critical research the firm commissions and publishes regularly on topics relating to the industries it serves.
This top strategy consulting firm is known for their agility, speed, and ability to help clients identify the best actionable paths through fresh insights and new ways of looking at their business and technology.
Top-Rated Strategy Consulting Firms
This top strategic consulting firm brings robust industry knowledge and experience to each client engagement. They understand that time is of the essence, but that fully seeing all angles of an issue before making a major decision is equally important.
Instead of slower, incremental changes, Accenture empowers their strategy consultants to believe in bold moves and transformative decisions, creating organizational evolution through the use of technology and innovation.
According to Accenture, the result this transformative approach has provided exceptional client results, such as $1 billion in savings for Mondelez and 350 percent growth for Uniqlo, as two examples of their many success stories.
Accenture provides clients with an excellent balance of decision analysis and speed of execution. They understand that bold moves can bring clients tremendous value, but only if backed up by intense research and strategic planning.
With an excellent reputation, a focus in expert research and intelligent analysis, and the ability to transform through smart technology, Accenture scores a 5-star rating as one of the top strategy consultants to consider working with this year.
Don’t Miss: Top Consulting Firms
Bain & Company Review
Advising global leaders on their most critical decisions, Bain & Company is a strategy consulting firm that takes a unique approach to traditional change management. For over 40 years these strategic consultants have helped clients measure and manage risk.
The global clients served by Bain outperform the S&P by four to one. The firm offers strategic solutions from 58 coordinated offices in 37 countries.
Key Factors That Enabled Bain & Company to Rank as One of the Best Management Consulting Firms
True North is a description that represents the guiding principles, values, and culture that drive all strategy consulting services at Bain.
According to this top strategy consulting firm, they are firm believers in the concept of always doing the right thing for clients, employees, and the community.
The values and culture that set Bain apart and make up their True North include:
- Passion for results aligned with client success
- Commitment to maintaining quality, professionalism, & high standards
- Straightforward & direct honesty with clients
- Openness to the possibility that current beliefs could be wrong
- Practicality in approaching & implementing decisions or strategies
- Embodying trust, respect, support, & collaboration as a team
- Working toward the best possible results
Dynamic Strategy Consulting Approach
As one of the top strategy consulting firms, Bain offers clients a bold, multi-faceted approach to strategy consulting.
While there are many unique approaches to choose from, here are a few that Bain employs that we found particularly notable:
- Fundamentals of Growth: Defining and focusing on core growth to ensure long-term sustainability
- Founder’s Mentality®: Adhering to the core strengths and values of a successful business
- BothBrain® Innovation: Combines creative strategy and analytic approaches to implement new solutions and ideas
- Emerging Markets: Helps companies successfully strategize for a global environment
Bain & Company understands that bad strategies can bring good companies down. They offer clients four decades of experience across multiple industry sectors and geographies to help them develop and execute winning strategies.
With a focus on transparency, a reputation as a great place to work, and a structured approach to innovation, Bain & Company is one of the top strategy consulting firms to consider working with to grow your business in 2019.
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Boston Consulting Group Review
Boston Consulting Group (BCG) has been challenging the status quo for over 50 years. This bold courage has helped this top strategy consulting firm to look beyond the obvious to find unique and innovative solutions that set their clients apart.
BCG has a global presence with offices in 90 cities across over 50 countries around the world and a team of 18,500. Many of their clients rank among the world’s 500 largest corporations.
Qualities That Allowed BCG to Be Considered Among the Top Strategy Consulting Firms
BCG takes an objective and integrated approach to all endeavors, empowering clients with a competitive advantage.
This strategic perspective is defined by basing decisions on valid data, rigorous analysis, external perspectives, root causes, and explicit logic to identify and take advantage of strategic opportunities for clients.
When coupled with an approach that seeks true partnership between consultants and clients, BCG is a competitive force amongst strategy consulting firms.
2019’s Best Strategy Consulting Firms
Expertise Across Multiple Environments
As a top-rated strategy consultancy firm, BCG is acutely aware of the fluctuating challenges that come with creating a winning business strategy.
With unique challenges inherent in globalization, technological advancement, and economic interconnections, clients need strategy consulting services that are holistic, thorough, and most of all, adaptable.
This is why the foundation of BCG’s strategy consultancy involves addressing multiple strategic environments and staying flexible with an ability to adjust as needed.
As a top strategy consultancy, BCG understands the need to apply a customized approach to multiple strategic environments, empowering businesses to succeed amidst rapid change.
BCG excels in multiple areas when it comes to strategy consulting, including corporate strategy, business unit strategy, strategic planning, and business model innovation. Their approach explores novel thinking and customized solutions and capabilities.
With a talent for balancing risk and reward to help clients make more successful decisions and a focus on trust and transparency, Boston Consulting Group solidifies a 5-star rating as a top strategy consultant to consider working with this year.
Cornerstone Research Review
Specializing in economic and financial analysis for commercial litigation and regulatory proceedings, Cornerstone Research is a top strategic consulting firm that’s been offering objective and state-of-the-art analysis for over 30 years.
Cornerstone is highly specialized and can be considered a boutique strategy consultancy. They have a team of 700 that work from seven offices within the United States and one office in London, United Kingdom.
Qualities That Allowed Cornerstone Research to Be Considered as One of the Top Strategy Consulting Firms
Specified & Streamlined Services
A hallmark of a boutique strategy consulting firm is a specialized focus that is typically deeper than other consulting firms can offer. Cornerstone narrows its services to best suit organizations seeking strategic approaches to economic and financial consulting.
Strategy consulting services at Cornerstone consist of financial and economic analysis and expert testimony for commercial litigation, investigations, and regulatory proceedings.
These specific services include everything from engaging and working with expert witnesses to conducting detailed research and analysis to preparing for deposition and trial.
Staff consultants are often experts in finance, economics, accounting, and marketing, offering clients a comprehensive and thorough strategy consulting experience.
Furthermore, consultants partner with attorneys and a broad and extensive network of testifying experts, leading to a collaboration that is exclusive to their strategy consulting services.
Access to expert resources is a key advantage of using boutique strategy consulting firms, putting Cornerstone at the top of our list for their specialized area of expertise.
Cornerstone Research may have a smaller team that other strategy consulting firms, but this offers clients a boutique experience with experts that are highly experienced in their areas of focus – economic and financial consulting and expert testimony.
With high-quality expert testimony and decades of experience consulting in all phases of complex litigation and regulatory proceedings, Cornerstone Research scores 5 stars as one of the best strategy consulting firms to consider partnering with in 2019.
Deloitte Consulting Review
Delivering measurable and sustainable results for clients and communities, Deloitte Consulting is a strategy consulting firm that is continuously evolving to help clients stay ahead of marketplace trends.
The firm has been providing expert strategy consulting for over 150 years and has a team of 245,000 employees covering 150 countries and territories. They feel that more than their size, it’s their drive to make an impact that matters on the world that defines them.
Qualities That Allowed Deloitte Consulting to Be Included Among the Top Strategy Consulting Firms
Deloitte offers five key strategy consulting services to their clients to empower them to make better-informed decisions that can drive growth and help them gain a competitive advantage. These services include:
- Operations Transformation: Assists businesses with implementing new strategies and maximizing efficiency
- Finance: Strategy consulting services tailored for CFOs to help them make timely, intelligent decisions
- Mergers & Acquisitions: Brings industry-specific insight and global awareness to structural changes
- Monitor Deloitte: Uses industry insights to help leaders achieve transformational success
- Supply Chain & Manufacturing Operations: Strategy consulting services help clients successfully integrate manufacturing and supply chain solutions
Top Global Strategy Consulting Firms
Before selecting a strategy consultancy, it’s wise to examine their internal culture and working environment to get a feel for the company as a whole.
Strategy consulting firms that maintain a supportive environment for consultants also tend to have a client-facing approach, believing that engaged and happy employees produce happy clients with positive outcomes.
Deloitte is proud to have an inclusive, diverse culture, and even conducts ongoing research on its benefits. Potential clients can easily access reports on topics like:
- How organizations can advance inclusion
- How to encourage individuals to avoid “covering” their authentic selves
- Understanding the millennial cultural mindset
The firm practices what it preaches and insights gained from the firm’s research are directly applied to its own internal culture, creating an environment of respect, integrity, and diversity.
Deloitte’s main driving force is to serve their clients and help them solve their toughest problems. These strategy consultants have the expertise to help companies in multiple industries make better, more well-informed decisions about multiple areas of their operations.
With a strong focus on ethical behavior and strength of character and a team that has global experience combined with local knowledge, Deloitte is a top strategic consulting firm to consider partnering with this year and earns a 5-star rating.
McKinsey & Company Review
Combing global expertise with local insight, McKinsey & Company is a top-rated strategy consulting firm that helps clients determine and set the right course towards their most important goals.
The firm has 30,000 team members located in 130 cities around the globe. Their experience in consulting is impressive, spanning more than 90 years. This top strategy consultant invests over $600 million annually in knowledge development and capability building.
Qualities That Allowed McKinsey & Company to Be Included with the Top Strategy Consulting Firms
Research and Development
One thing that makes McKinsey & Company one of the top strategy consulting firms is their devotion to in-depth research and development to better serve the needs of their clients. A few ways they do this include:
- Digital Labs: Develops prototypes, customer software, and apps, and embeds recommendations into a client’s existing technology platform
- McKinsey Analytics: Builds and maintains advanced and nuanced data models to help clients generate ideas and make more effective decisions
- McKinsey RTS (Reset. Transform. Sustain): Delivers rapid and dramatic performance improvements to companies facing significant financial and operational challenges
Gender Diversity Through Women Matter
As a top strategy consultancy, McKinsey’s services are not only driven by industry expertise, but also by thorough research into global trends.
After discovering that women remain underrepresented in the corporate world, McKinsey created Women Matter, a research initiative that explores the importance of gender diversity on a localized and a global scale.
Powered by The McKinsey Global Institute (recognized as the leading private-sector think tank in the world), this top management consulting firm has conducted extensive research into advancing women’s equality.
Through their Women Matter and Women in the Workplace series, McKinsey has put together a clear economic case for change and identified common change barriers and drivers across the globe.
McKinsey & Company’s global expertise is apparent in the in-depth research and insights they provide. Their goal is to help clients create change that matters and turn their most ambitious goals into reality.
With a focus on solving global problems, a team that is continually learning and innovating, and a focus on diversity and sustainability, McKinsey & Company solidifies their 5-star rating as a top strategy consultancy to consider partnering with this year.
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Oliver Wyman Review
With a talent for transforming companies and being gifted collaborators, Oliver Wyman is a strategy consulting firm that believes in only engaging where they can add genuine value.
This global leader in strategy consulting has offices in 60 cities across 29 countries, with over 5,000 team members helping clients optimize operations and accelerate organizational performance.
Key Factors That Enabled Oliver Wyman to Rank as One of the Top Strategy Consulting Companies
One factor that makes Oliver Wyman one of the most unique strategy consulting firms is the firm’s dedication to transforming every client engagement into a true partnership.
As a top strategy consultancy, the team at Oliver Wyman believes that a successful project collaboration depends upon completely understanding all aspects of a client’s business.
The firm maintains a robust knowledge of the unique challenges and advantages of each industry it serves, including:
- Aviation, aerospace, and defense
- Business services
- Communication, media, and technology
- Distribution and wholesale
- Financial services
- Health and life sciences
- Industrial products
- Public sector
- Retail and consumer products
- Surface transportation
- Travel and leisure
Best Strategy Consultants to Consider in 2019
A key tenant of Oliver Wyman’s forward-thinking approach is its dedication to the responsible use of natural resources and protection of the planet.
A showcase of their dedication to being an excellent steward of the environment is the firm’s Sustainability Center. Through the Sustainability Center, consultants help clients identify and implement the responsible use of natural resources and environmental protection.
This top strategy consulting firm offers innovative strategies for the most efficient use of resources, the implementation of clean energy and technology, and the ability to reduce the impact on the planet while also achieving overall cost savings.
Oliver Wyman has an approach that’s unique when it comes to their corporate culture. They have an open, non-hierarchical system that allows the top team members to work on the projects where their talents fit best, which offers a big advantage to clients.
With a focus on social responsibility, an atmosphere of creativity, and analytical rigor, Oliver Wyman scores 5-stars as a top strategic consulting firm to consider partnering with in 2019.
Strategy& has a legacy built upon a 100-year history of the top strategy consulting. Formerly Booz & Company, now the firm is part of PricewaterhouseCoopers’s global strategy consulting business making it uniquely positioned to deliver great results for their clients.
This top strategy consulting firm has more than 3,000 strategy consultants working from 736 offices throughout 158 countries. Strategy& combines their knowledge and expertise with strategic foresight to help companies turn ambition into action.
Qualities That Allowed Strategy& to Be Considered Among the Top Strategy Consulting Firms
Strategy& is a management strategy consulting firm focused on providing clients with well-developed, actionable strategies.
The key focus of their commonsense approach is gaining a thorough understanding of the context into which solutions and strategies are being delivered.
Their practical method has been honed, perfected, and published in a book titled Strategy That Works, which outlines the five best practices for closing the “strategy-to-execution gap.”
Clients working with Strategy& benefit from their time-tested and proven approach which ensures major decisions are backed up with a foundation of knowledge, analysis, and multiple viewpoints.
Fit for Growth
A signature offering from Strategy& is Fit for Growth, a program engineered to help companies improve performance and position themselves for successful future growth.
This model focuses on cost transformation and the implementation of new operational strategies to provide high levels of performance, productivity, and efficiency.
As a top-rated strategy consulting firm, the firm employs a critical approach to cost management, focusing on increasing costs that bring a positive return and redirecting spending from costs that are wasteful.
Ultimately, business transformation through Fit for Growth is both holistic and collaborative, impacting every area of business for their clients.
As the only at-scale strategy business that is part of a global network, Strategy& stands out among other firms that offer strategy consulting. They combine a laser-focus on strategic solutions and decision-making with a broad range of global resources.
With industry experts positioned around the globe, a results-driven approach, and a commitment to bringing strategies to life in tangible ways, Strategy& scores 5 stars as one of the top strategy consultants to consider working with this year.
A.T. Kearney Review
With a belief in consulting from the inside out, rather than the opposite, A.T. Kearney is a strategy consultant that immerses themselves in each client’s company to gain the deep insights needed to create meaningful change and custom-tailored solutions.
Founded in 1926, A.T. Kearney has a team of over 3,600 employees working in over 40 countries. The firm provides strategic consulting services for more than three-quarters of the Fortune Global 500, in addition to the most influential government and non-profit organizations.
Key Factors That Enabled A.T. Kearney to Rank as One of the Top Management Consulting Firms
Key Management Issues
A.T. Kearney focuses on five aspects of strategy consulting, called “Key Management Issues.” Here’s a brief look at what these strategy consulting services include:
- CEO Agenda: Strategies engineered to help CEOs accomplish top performance metrics and maximize shareholder returns
- Growth Discovery: Focuses on finding inspiring, practical solutions to challenges associated with growth
- Customer Value: Differentiating your business through unique and effective customer experiences
- Pricing: Looking at pricing, discounting, and monitoring from a strategic perspective
- Brand Building: Strategy consulting designed to help build and cultivate a winning brand
2019’s Top-Rated Strategy Consulting Firms
Diversity & Inclusion
As one of the top-rated strategy consulting firms, A.T. Kearney believes that a key to its success and its ability to offer true value to clients is its focus on diversity and inclusion.
All employees have access to equal opportunities, consultants are empowered to be their unique selves, and teams include people from diverse backgrounds, providing clients with a wide range of skill sets.
A.T. Kearney has long been recognized by leading media outlets for its dedication to diversity and inclusion, setting standards across the industry.
A.T. Kearney believes in a collegial culture that transcends organizational and geographic boundaries, which offers clients a team that’s dynamic, approachable, and with a shared passion for helping them succeed.
While the firm is a top strategic consulting firm and their website is visually appealing and dynamic, potential clients may find it difficult to locate detailed case studies on their work with clients, which is why we’ve rated the firm with 3 stars.
By making it easy for potential clients to view case studies of the firm’s past successes, A.T. Kearney could improve the way their value is communicated to potential clients, increasing their ranking in the future.
Analysis Group Review
Specializing in strategic economic consulting, Analysis Group is a top-rated strategy consulting firm that helps clients solve complex issues through their expertise in finance, economics, health care, analytics, and strategy.
Founded in 1981, Analysis Group has a team of over 950 professionals that work across 14 offices in North America, Europe, and Asia. The firm is committed to high-quality work and efficiency.
Key Factors That Enabled Analysis Group to Rank as One of the Best Management Consulting Firms
Key to the success of Analysis Group is their network of academic experts and PhD economists.
By combining the skills and insights from their consultants with their network of experts, this strategy consulting firm has a keen ability to identify and analyze data.
Analysis Group maintains a full list of professional staff and affiliated experts on their website, increasing transparency and making it easy for potential clients to gain a better understanding of their resources.
Strategy Consulting Approach
The foundation of this firm’s strategy consulting approach is a combination of statistical, modelling and economic know-how.
With this foundation, Analysis Group employs strategy consulting to identify business opportunities in terms of assets, resources, business models, and capabilities.
Clients that work with Analysis Group can expect to employ strategies that define:
- The best positions to attract value
- Risks and opportunities when competing in a new market
- Characteristics of winning business models
- Synergies and gaps relative to assets
- Best options with pro forma modelling
For those looking for an expert strategic consultant for litigation, this is an area of expertise for Analysis Group. Their team employs its strategic thinking in economics and finance to analyze things like antitrust issues, securities fraud, patent infringement, and more.
Although the firm is one of the top-rated strategy consultants, they have a narrower focus than others in their field, noting on their website that “much of our efforts involve litigation…” although they do partner with major corporations on other business issues.
This coupled with their size, which is smaller than many other top strategic consulting firms on our list lead us to score them with a 3-star rating.
With over a century of client service, PricewaterhouseCoopers (PwC) has grown from a London accounting practice to a global company providing tax, audit, assurance, and strategic business consulting services.
PwC has a worldwide network of over 250,000 professionals in 158 countries all with the singular focus of helping their client’s businesses thrive. They offer the experience, foresight, and strategic thinking that helps propel businesses forward.
Qualities That Allowed PwC to Be Considered Among the Best Strategy Consulting Firms
Targeting a Company’s Strengths
PwC consultants can harness a company’s unique abilities and convert market opportunities into maintainable growth.
What allows the PwC consultants to do this is its simplification approach that cuts out the unnecessary fat in your problem, making it lean and more manageable. The goal is to have your company grow from its strengths and fortify the weaknesses.
PwC’s simple equation is what makes it a top business strategy consultancy: a capability-driven approach that assesses your strengths and how you can grow from them.
Best Strategy Consulting Firms 2019
When not partnered with a top strategy consultancy that gives them unique perspectives, many businesses may lose sight of a key element that is the driver of their success or failure: their customer service.
One of the service areas offered by PwC involves helping clients gain a comprehensive understanding of their customer. This includes addressing the underlying needs of the customer and anticipating the outcomes he or she is searching for.
Ultimately, a partnership with PwC helps build customer strategies and unique experiences based on a firm foundation of analytics and experience design.
PwC has an excellent reputation and receives consistently high rankings as a strategy consultancy, our review felt that we had to assign a 3 rating to PwC due to some ongoing legal issues.
An ongoing 2016 lawsuit accuses PwC of age discrimination in the hiring process, accusing the firm of holding entry-level positions exclusively for young college graduates.
If PwC were to address this issue more firmly and display efforts to diversify its hiring practices, especially when it comes to age, they could be considered for a higher ranking in the future.
Conclusion – 2019 Top Strategy Consulting Firms
Certain decisions can mean the difference between growth or stagnation. Even the best companies can get stuck in the same types of thinking, finding it hard to look outside themselves to come up with fresh perspectives and new ideas.
The best strategy consulting firms take big decisions and break them down into steps through research, analysis, and by bringing in various viewpoints. Their goal is to ensure their clients have all the data they need to make informed and strategic decisions that produce excellent results.
No matter what industry you work in, strategic planning can mean the difference between a major mistake that costs your organization millions of dollars or reducing costs while improving efficiency and staying a step ahead of the competition.
Each of these top-rated strategic consulting firms offers the chance to take your business to another level by employing their expertise, industry knowledge, and fresh perspective to solve any stuck points and forge a transformative path to the future.
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