Frankly, in my opinion, consultants, advisers, accountants and attorneys get a bad rap. If I hire an adviser, for what's considered a fairness opinion, I've essentially asked a third party to provide me their opinion on a particular subject. Technically, there shouldn't be a correct answer or result.
Business is subjective. My opinion plus yours multiplied by some backward looking factor should equal zero. Why? Our opinions are of minuscule value. However, hiring a consultant provides a company with an arms-length set of eyes. Unfortunately, some consultants aim to please the intoxicated client, and that's where Enron can happen...
"It told AT&T in 1980 that it expected the market for cellphones in the United States in 2000 would amount to only 900,000 subscribers. It turned out to be 109 million. The list goes on..."
Read more ....
In a New Book, McKinsey & Co. Isn't All Roses - NYTimes.com
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