NAICS Code 541614-01 - Business Management Consultants

Marketing Level - NAICS 8-Digit

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NAICS CODE 541614-01
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NAICS Code 541614-01 Description (8-Digit)

Business Management Consultants are professionals who provide expert advice and guidance to businesses in order to improve their overall performance and efficiency. They work with companies of all sizes and across various industries to identify areas of improvement, develop strategies, and implement solutions that help businesses achieve their goals. Business Management Consultants are knowledgeable in areas such as finance, marketing, human resources, and operations, and they use this expertise to help businesses optimize their processes and increase profitability.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 541614 page

Tools

Tools commonly used in the Business Management Consultants industry for day-to-day tasks and operations.

  • SWOT Analysis
  • Business Process Modeling
  • Balanced Scorecard
  • Lean Six Sigma
  • Change Management
  • Project Management
  • Customer Relationship Management (CRM) Software
  • Enterprise Resource Planning (ERP) Software
  • Data Analytics Tools
  • Financial Analysis Tools

Industry Examples of Business Management Consultants

Common products and services typical of NAICS Code 541614-01, illustrating the main business activities and contributions to the market.

  • Supply Chain Management
  • Strategic Planning
  • Organizational Development
  • Performance Improvement
  • Marketing Strategy
  • Human Resources Management
  • Financial Management
  • Operations Management
  • Risk Management
  • Information Technology Management

History

A concise historical narrative of NAICS Code 541614-01 covering global milestones and recent developments within the United States.

  • Business Management Consultants have been around for over a century, with the first management consulting firm, Arthur D. Little, founded in 1886. The industry grew rapidly in the 1920s and 1930s, with firms like McKinsey & Company and Booz Allen Hamilton being established during this time. In the 1950s and 1960s, the industry expanded globally, with firms like Boston Consulting Group and Bain & Company being founded. In recent years, the industry has seen significant growth due to the increasing complexity of business operations and the need for specialized expertise. The rise of technology and the digital age has also led to the emergence of new consulting services, such as digital transformation consulting and cybersecurity consulting. In the United States, the Business Management Consultants industry has a rich history dating back to the early 20th century. The industry experienced significant growth in the post-World War II era, with firms like McKinsey & Company and Booz Allen Hamilton leading the way. In the 1980s and 1990s, the industry saw a shift towards specialization, with firms focusing on specific industries or functional areas. The rise of technology and the internet in the 21st century has led to the emergence of new consulting services, such as data analytics consulting and e-commerce consulting. Today, the industry continues to evolve and adapt to changing business needs and technological advancements.