Wales at Work: 15 July 2008
Management Consultants
On the Tuesday 15 July programme
They come into your business, tell you what you're doing wrong, explain how to put things right, and leave - but not before invoicing you a hefty sum for their efforts.
Management consultancy is an increasingly important sector for the UK economy with revenues for 2006 estimated at £8bn.
But do they really help our businesses make more money and run more efficiently? What about the public sector? Last year, the Welsh Assembly Government spent at least £2m on external consultancy firms.
How do we measure whether that was an effective use of public money? And what about the consultants themselves - how do they justify the rates they charge?
Do you need a certain amount of business experience before telling others how to run theirs more effectively?
Can a stranger really save your business if you are in trouble?

