Emerging Trends in Business and Management Consulting

Abstract

The article highlights the importance of business and management consulting field and its current trends, especially in the context of pandemic and worldwide changes. The author highlights the role of consulting in accelerating best practices in collaboration, flexibility, inclusion, and accountability to its clients in order to create a better future for all, and also includes a statistical analysis of the development of consulting on a global and European scale, outlining the most important indicators according to the nature of the services rendered, the locations of the clients, and the types of client’s industries. The author argues that the trends show that consulting is becoming an increasingly important component of the business environment, and that the emergence of new economic sectors and professions will condition the need to develop new capacities and apply new managerial knowledge and tools, which will stimulate the growth of both consulting and related fields. The article provides data on the development of the consulting in the Republic of Moldova, including the difficulties faced by the companies. Author believes there is "room for growth" in the national consulting despite the fact that it is a young market marked by the challenges facing society and influenced by the small size of the national economy. The author believes that the future of it will be profoundly influenced by remote work and digitization, service export, collaboration, and improved quality. JEL: L84, O14, O19, O50, O52, Y10; DOI: https://doi.org/10.53486/2537-6179.8-2.03