Do McKinsey and other consultants do anything useful?:
Though hated, they often provide a valuable service to the economy
economist.com/leaders/2022/10/05/do-mckinsey-and-other-consultants-do-anything-useful
Photo: economist.com · view article
Consulting Firms Face Scrutiny Amid Rapid GrowthSince 2010, top consultancies tripled revenues to $30bn and now employ about 70,000 despite ongoing scandals.
Key FactsJan 11, 2023 · Reading time: ~30 sec.
Summary created with AI assistance · Source: economist.com
Summary created with AI assistance · Source: economist.com
- Management consultants are often criticized but provide valuable outside perspectives and specialized expertise.
- The sector continues expanding rapidly even as McKinsey and rivals face legal and public controversies.
- Consultants support executives in pushing difficult decisions and help disseminate productivity-enhancing methods.
- Greater spending transparency and an ethical code could improve the industry's accountability and reputation.
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