Evolution of management consulting and its siginificance in the sustainable development of agrarian enterperises

Abstract

During the industrial revolutionary period, the regulatory environment changed and outlawed the consultative services preventing banks from engaging in non-financial activities. As a result, the “Institutional Entrepreneurship” evolved into growth of early consulting firms which further developed and earned the professional status to consultants and to consulting firms. Evolution of consulting service in management or management consulting boosted their activities identifying and investigating problems concerned with policy, organization, procedures, and methods. Nowadays a new modern concept, “Sustainability” is added in consulting management. Sustainability in business management enhances efficient resource use system while maintaining a high value for the final products as well as to cost reduction, leading to innovation and new business models. Sustainable development is a good business which creates opportunities for suppliers of ‘green consumers’, developers of environmentally safer materials and processes, firms that invest in eco-efficiency, and those that engage themselves in social well-being. Consulting service in management plays a huge role in the sustainable development of Agriculture sector businesses which have been recognized as one of the core sector in any economy that have a tremendous effect in improving the life of people socially, economically and sustaining human life. Management consulting in agricultural enterprises and in agribusiness encourages farmers and agribusiness on implementing sustainable strategies that increases the efficiency of the value chain through the preservation of environment, protection of health and sustaining the economically viable communities. It helps the agricultural enterprises to have a competitive advantage by earning their local community’s goodwill and their efforts reflected in the bottom line.