IMO it's risky to hire management consultants to tell you what you should do. The value they provide is usually market research (providing data points you would

IMO it's risky to hire management consultants to tell you what you should do. The value they provide is usually market research (providing data points you wouldn't gather yourself) and expert opinions (PhDs and SMEs, ex executives). With that, you can take an informed decision on something and move on. The other reason people hire them is less noble: ass covering. Can't be fired if you were just following the consultant's recommendations. CEOs do this from time to time.