In 1933, the arrival of Marvin Bower provided James O. McKinsey with a strong advocate and a fellow visionary. Bower held both a JD and an MBA from Harvard University. He adamantly believed that management consulting should be held to the same high standards for professional conduct and performance as law and medicine.
Following Mac's early death, Bower began to carefully shape the firm into its present form by insisting on a few core principles:
- Client interests must be placed before those of the firm.
- Engagements should only be undertaken when the value to the client was expected to exceed the firm's fees.
- The firm's ownership should be restricted to active partners.
- Firm members must be professionals trained and motivated to do outstanding work and make a permanent career with the firm.
By the end of the 1930s, under Bower's stewardship, the term "management consulting" began to replace "management engineering," and the professional management consultant was born.