The role of consultants

Ian Davis from McKinsey on the "new" role of consultants in Knowledge@wharton:

The new demands on business are changing the consulting industry, too, said Davis. Companies like McKinsey can no longer get away with offering only analytical solutions. Client firms are now filled with MBAs and former consultants who can do much of that work in house. Companies still need consultants, however, to provide an independent, objective analysis, according to Davis. Successful consultants must also continue to provide specialized expertise but with a fully integrated approach. Finally, he said, consultants should begin to develop teaching skills to reach their clients.
The future of the consulting industry is secure, he added. The profession has been around for centuries, with consultants performing the same job under other names, including courtiers, academics or lawyers. "I think there is a deep human need for advice," said Davis. "If I have a personal problem, I talk to a friend."
As a consultant, Davis is the one companies turn to for advice. "Other people's problems are easier," he said.