The origins and development of management consulting - Second field of consultancy

3 important questions on The origins and development of management consulting - Second field of consultancy

What is the second field consulting that came up after the first field in the 1930's?

Organisation and strategy consulting.

What triggered the second field of consultancy?

The Wall Street crash = overproduction of agricultural products, excessive speculation, and consumer debt led to the 'great crash'.

What regulatory changes took place after the 'Wall Street crash'? List the 3

1933: Glass-Steagall Banking Act - forced independent advice from banking activities;
1933: Securities Act - due diligence by independent consultants before financing;
1936: legislation forbade accountants and lawyers to advice while performing financial audits.

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