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re: AI's next victim: Mgmt Consulting - McKinsey offering staff 9 months full pay to leave
Posted on 4/1/24 at 8:52 am to Dadren
Posted on 4/1/24 at 8:52 am to Dadren
quote:
Nothing earth-shattering obviously, but I think their true value is that they are on the outside and can offer up a solution nobody internally in leadership would want to own (especially if it doesn’t work out). Nobody really wants to ax an entire division or lead a fire sale of a bunch of assets, even if it’s the best thing for the shareholders. But the consultants don’t care and know just enough to realize it’s the correct course of action.
Finally a good post in this thread. Companies could do this internally, but it would involve hiring a team of people who don't produce anything but new ideas, planning and problem solving. But then you are beholden to internal politics, personal agendas, favoritism, conflicts of interests and all the other stuff that gets in the way of good corporate decisions. Think IA in police departments and how ineffective they can be.
In many cases its cheaper for most companies to pay consultants to plan and problem solve, and to provide mostly unbiased options, even if all of those options were previously suggested by staff or leadership.
2
Posted on 4/1/24 at 8:55 am to NOLALGD
That sounds great, but when every single productive pair of boots on the ground sees everything they do as a destructive measure, there's certainly a problem.
What they do is great for short term bumps in stock prices. 15 years from now we'll be talking about how McKinsey ruined more businesses than they helped.
What they do is great for short term bumps in stock prices. 15 years from now we'll be talking about how McKinsey ruined more businesses than they helped.
Posted on 4/1/24 at 11:03 am to NOLALGD
quote:
Finally a good post in this thread. Companies could do this internally, but it would involve hiring a team of people who don't produce anything but new ideas, planning and problem solving. But then you are beholden to internal politics, personal agendas, favoritism, conflicts of interests and all the other stuff that gets in the way of good corporate decisions. Think IA in police departments and how ineffective they can be.
In many cases its cheaper for most companies to pay consultants to plan and problem solve, and to provide mostly unbiased options, even if all of those options were previously suggested by staff or leadership.
Consultants tend to be most useful when you are hiring them for one of two reasons:
1) When the company doesn't have the internal expertise
2) When the company might have some internal expertise but they need more arms and legs to get things done
As a quick and easy example, 90+% of companies out there have no fricking clue how to execute everything that happens during the M&A process. They don't know how to evaluate targets, how to do the commercial and operational due diligence, how to close, how to construct a TSA, how to do 100 day planning, how to do proper post-merger integration, etc., etc.
This post was edited on 4/1/24 at 11:04 am
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