Management Consultants: Are they worth it?
Episode #220 // Many companies use consultants of one type or another. In this episode, I give a bird’s-eye view of the consulting market, based upon my years of experience as a corporate client, engaging at many different levels.
Whether it’s developing a new corporate strategy, embarking on a restructure, improving workforce productivity, or reducing the baseline costs of the business, there’s a consultant for every occasion.
But it’s also easy to spend a lot of money with the expectation of achieving stunning results, only to realize a year or two down the track that you’re no better off than when you started.
I begin with a look at the premium end of the management consulting market, including some of the recent controversies engulfing the top firms; I offer some guidance for when to engage a consultant; and I list my big 10 traps for young players, in the hope that you can avoid some of the landmines.
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