Senior executives - who went out and hired the top three American consultancies: Bain, McKinsey and the Boston Consultancy Group - often say the are of no or little strategic help in their businesses. In fact 84% said they "were no help at all" and a further 3% said the they had "a negative influence". And only 13% said they were "more help than a hindrance". Moreover these top companies change inordinately high fees for this inadequate work. So why keep using them? One reason is the - belt and bracers approach to risk and change management. They are protecting themselves in case anything goes wrong, so they have a good alibi in place. Nevertheless, in the long run - its probably better not to use them as they give a false and fallacious sense of security. However do senior management have the guts to go without a - belt and bracers? I doubt it.
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