Are Corporate Consultants Necessary?

Corporations with experienced staff, having experts with years of background in their business, still hire consultants, whose staffs are replete with youngsters just out of business school.

                       

Companies already have their own experts who know their business intimately. They study their operations from every angle, on an ongoing basis. So why the consultants?

                       

My conclusion has always been that these often newly- minted consultants have always been a form of business insurance. Even though their ”fresh look” often is amateurish.

                       

It’s much the way investment bankers are called upon for advice. They, too, are often relatively inexperienced.

                                       

The rationale? When confronted by plaintiff lawyers, you can say you tried correct management. You have taken adequate precautions in your duties as a manager by using consultants. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)