MBBs is a term used to refer to the three largest and most well-known management consulting firms in the world: McKinsey & Company, Bain & Company, and The Boston Consulting Group. These firms are known for their expertise in helping businesses solve complex problems and improve their operations. They are often referred to as “the MBB firms” or “the Big Three” in the consulting industry. MBB is also sometimes used to refer to the top tier of management consulting firms more broadly, although the specific firms included in this category may vary depending on who you ask.
In this post, I want to provide you with a brief overview of the history of all three firms.
The history of McKinsey
McKinsey & Company was founded in 1926 by James McKinsey, a University of Chicago professor who left academia to start his own accounting and management consulting firm. The firm initially focused on providing accounting services, but quickly expanded its focus to include management consulting. In the 1930s and 1940s, McKinsey consultants began working with large corporations to help them improve their operations and strategy.
Over the years, McKinsey has continued to grow and expand, establishing offices in major cities around the world. Today, the firm is one of the most well-known and respected management consulting firms in the world and is known for its expertise in a wide range of industries and its ability to help clients address complex business challenges. Despite some criticism of its business practices and conflicts of interest, McKinsey remains a leader in the consulting industry.
The history of BCG
The Boston Consulting Group (BCG) is a global management consulting firm that was founded in 1963 by Bruce Henderson. Henderson, a former associate at McKinsey & Company, started BCG with the goal of providing companies with more effective and innovative ways to solve their business problems.
BCG quickly established itself as a leader in the consulting industry, thanks in part to Henderson’s unique approach to consulting, which emphasized the use of analytical tools and frameworks to help clients understand their businesses and make better decisions. In the 1970s, BCG introduced the concept of the “growth-share matrix,” which became one of the firm’s most famous and influential ideas.
Today, BCG is one of the world’s largest and most well-known management consulting firms, with offices in more than 50 countries around the world. The firm continues to be known for its innovative approach to consulting and its focus on helping clients achieve growth and success.
The history of Bain
Bain & Company is a global management consulting firm that was founded in 1973 by former McKinsey & Company consultants Bill Bain, Dave Tappan, and Paul O’Neill. The firm was established with the goal of providing companies with more effective and innovative ways to solve their business problems.
In the 1980s and 1990s, Bain became known for its focus on “results-driven” consulting, which emphasized the use of data and analytics to help clients make better decisions. The firm also developed a reputation for its expertise in the private equity industry, helping private equity firms identify and acquire companies with high growth potential.
Today, Bain is one of the world’s largest and most well-known management consulting firms, with offices in more than 50 countries around the world. The firm continues to be known for its expertise in a wide range of industries, and its ability to help clients achieve their strategic and operational goals.
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