Burkovska Anna, PhD (Economics), Associate Professor of the Department of Management, Business and Administration, Mykolayiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0000-0003-0563-6967
e-mail: anna.burkovskaya12@gmail.com

Navigating Strategy: The Role of Management Consulting Firms in Global Business

Abstract. Introduction. In the dynamic and rapidly evolving global economy, businesses are under increasing pressure to innovate, adapt and grow amid unprecedented complexity. Strategic decision-making now encompasses a wide range of issues, including digital disruption, geopolitical volatility, regulatory compliance, and sustainability imperatives. Against this backdrop, management consulting firms have become invaluable partners for organisations seeking to navigate uncertain terrain with clarity. These firms offer deep expertise, objective insight and the ability to drive meaningful transformation across industries and regions. This article explores the critical role that management consulting firms play in shaping global business strategy. It examines the value they provide through strategic planning, innovation enablement and change management, and explores the dominance and evolution of the Big Four accounting firms: Deloitte, PwC, Ernst & Young (EY) and KPMG. Using financial data, case studies and analysis, the article illustrates how these firms have evolved into global powerhouses, providing solutions that extend well beyond their traditional audit roots.

Purpose.  The primary aim of this research is to provide a comprehensive overview of the influence of management consulting firms on modern enterprise strategy, and to explain why their role continues to grow in significance. The study aims to analyse the global dominance of the Big Four firms (Deloitte, PwC, EY and KPMG) by presenting their financial data, regional performance and workforce statistics. This will demonstrate how these firms have evolved from their auditing origins to become essential strategic partners in various sectors and markets.

Results.  The article reveals that management consulting firms have become integral to the strategic success of global businesses. It demonstrates that these firms provide expert advice and external perspectives, as well as playing a hands-on role in shaping and executing strategies that help organisations adapt to market complexities, embrace innovation and implement change effectively. The discussion highlights the ability of consultants to connect global insights with local realities, making their guidance particularly valuable for cross-border business operations. 

Conclusions. In an era of rapid transformation, global uncertainty, and intensifying competition, management consulting firms have become essential partners in guiding organizations toward sustainable success. They combine deep industry expertise with objective, data-driven insights, allowing them to navigate complex strategic landscapes, foster innovation, and drive meaningful organizational change. The continued growth and influence of the Big Four accounting firms illustrates that consulting services are now a central pillar of modern business operations, not a supplementary function.

Keywords: management consulting; strategic planning; Big Four accounting firms; global business; business strategy.

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