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The value of management consulting: proven

27 January 2013

Now we have science saying it: management consultants add value. A formal study, sponsored by the World Bank and using a control group of factories as well as a treatment group, quantified the results. First year economic benefits exceeded the cost of the consulting - with later years' benefits pure gravy. (Summary in Slate, details from Nick Bloom). The project examined textile factories in India, and I was initially somewhat skeptical that the results would apply here in the United States. After reading the details, I think that American managers can learn a lot from the study.

This article was published by Forbes on January 27, 2013
Link to article here

Related publications
Does Management Matter? Evidence from India, Nicholas Bloom, Benn Eifert, Aprajit Mahajan, David McKenzie and John Roberts, Quarterly Journal of Economics, Volume 128, Issue 1, February 2013
Does Management Matter? Evidence from India, Nicholas Bloom, Benn Eifert, Aprajit Mahajan, David McKenzie and John Roberts, Centre for Economic Performance Discussion Paper No.1042, January 2011

Related links
Nicholas Bloom webpage
Productivity and Innovation Programme webpage

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