Management Consultants are an interesting breed. Generic Management Consultants have less value unless the delta in improvement / change is significant.
Management Consultants with in-depth knowledge of an industry, or a business problem are valuable. The challenge for many organisations is quantifying and justifying the cost of such consultants.
Management Consultants can add value by having an arsenal of data, or access to repositories of quality reports. (e.g. Harvard Business Review, Economist)
Common areas of generic value in areas of:
- Strategic Thinking
- Strategic Organisation
- Strategic Planning
Managing Financial and Human resources is the next significant challenge.
Some organisations like KPMG, EY, PwC like to delve into operational work like Reporting, Business Intelligence, but lack technical depth to deliver solutions. However, they perform well from an audit perspective.