Institutional management consultants are disastrous for organizations. They waste time, cost money, demoralize and distract the best people, and ultimately fail to solve problems. These consultants are like people who borrow your watch to tell you the time and then walk away with it.
The effective consultants, on the other hand, are the one-man shows. These consultants are independent and have a track record of solving problems for their clients. They are focused on results, and their success is based on their ability to deliver.
Organizations that have been through the process of working with institutional management consultants may react negatively to the idea of using them again. In fact, they may be more motivated to solve their problems internally rather than rely on outside consultants.
In conclusion, never use an institutional management consultants under any circumstances, even if it is to keep stockholders and directors quiet. These consultants are not worth the time, cost, and demoralization they bring to the organization. Instead, organizations should focus on building internal capabilities and seek out effective one-man show consultants when necessary.