Management Consulting

Vote for the 51st Thing! Exclusive podcast content – find out our shortlist after hearing the story of how management consulting became big business. If managers often have a bad reputation, what should we make of the people who tell managers how to manage? That question has often been raised over the years, with a sceptical tone. The management consultancy industry battles a stereotype of charging exhorbitant fees for advice that, on close inspection, turns out to be either meaningless or common sense. Managers who bring in consultants are often accused of being blinded by jargon, implicitly admitting their own incompetence, or seeking someone else to blame for unpopular decisions. Still, it’s lucrative. Globally, consulting firms charge their clients a total of about $125bn. Producer: Ben Crighton Editors: Richard Knight and Richard Vadon (Image: Business team present, Credit: Shutterstock)