Strategy consultants—Do they add value?

To improve their strategy decision-making, managers have sought the assistance of strategy consultants. Strategy consultants differ in the degree to which they focus on content or process, the degree to which they are transactive or participative in their consulting approach and their level of specific expertise. Research on the benefits of strategy consulting is limited and inconclusive. While individual firms show concern about monitoring effectiveness, their approach is rarely comprehensive and often ignores measurement of company benefits. Recommendations for both clients and the profession are set out to improve the benefits of strategy consulting assignments.