The “Fashionable Knowledge” of management consultancy in Portugal: a perspective analysis related to the research field of strategy-as-practice

Abstract

The beginning of the century XXI has seen rapid and radical transformations in the consulting industry as the result of questioning the strategic diversification models undertaken by the so-called "top 5" [Arthur Andersen (now bankrupt), Deloitte & Touche, Ernst & Young, KPMG and PricewaterhouseCoopers (PWC)]. However the reasons for the increase use of consultants and the explosion of this industry sector has not been accompanied by a number of academic studies that highlight the importance of the effective work of management consultants. From an empirical analysis in the form of interviews and semi-structured questionnaires with management consultants and SME managers in Portugal, this article aims to tackle the lack of studies in this emerging field by assessing the impact of management consulting at the level of work carried out in SMEs. The suggestions presented here illustrate a set of actions not related to what the consultants are doing, but regarding to what the consultants should do, looking for to empower management advisors with important information that will contribute to a better formulation of strategy to simultaneously contribute to the literature of the field of analysis of strategy-as-practice