The Art of Managing Professional Services: Insights from Leaders of the World’s Top Firms

Introduction

The influence and clout of the professional service industry are immense. It would be difficult to find a business, government, or nonprofit organization that doesn’t rely to some extent on a mix of external professional service providers. Behind every successful global company you will undoubtedly find a team of outside experts who all play a role—sometimes a pivotal one—in supporting that company throughout its history.

With 2010 revenues estimated at close to $2 trillion and a conservative average annual growth rate of 10 percent over the past three decades, the industry is one of the fastest-growing sectors in the world. Accounting, advertising, architecture, consulting, engineering, executive search, financial services, law, ...