Dangerous Company

Dangerous Company explores the inner workings of major management consulting firms and their impact on corporate America. Through case studies and investigative reporting, O'Shea and Madigan examine how consultants from elite firms like McKinsey, BCG, and Bain influence business decisions. The book presents multiple examples of consulting engagements - both successes and failures - at major corporations during the 1980s and 1990s. The authors analyze the methods these firms use, their relationships with clients, and the real-world consequences of their recommendations. Each case study details the specific consulting approaches used, the fees charged, and the eventual outcomes for the client companies and their employees. The narrative moves between different industries and time periods to build a comprehensive picture of the consulting industry's evolution and influence. The book raises fundamental questions about the role of external consultants in corporate decision-making and the broader implications for business and society. It serves as both a critical examination of the consulting industry and a cautionary tale about the limits of outside expertise.

Readers found this critique of management consulting firms offered clear insights into industry problems, though some felt it lacked depth in its analysis. Readers appreciate: - Clear explanations of consulting failures at major companies - Behind-the-scenes look at how consultants operate - Well-researched case studies and examples - Accessible writing style for complex business topics Common criticisms: - Too focused on negative consulting experiences - Could have included more successful consulting examples - Some repetitive content across chapters - Dated examples (mostly from 1980s/90s) One reader noted: "Good at explaining what goes wrong but stops short of suggesting solutions." Ratings: Goodreads: 3.8/5 (43 ratings) Amazon: 3.5/5 (12 reviews) Note: Limited review data available online as this is an older business book from 1997.

House of Lies by Martin Kihn This insider account exposes the daily practices and mindsets of management consultants through first-hand experiences in top consulting firms.

Consulting Demons by Lewis Pinault A former consultant reveals the mechanics behind consulting firm operations and their impact on client companies through case studies and personal experiences.

The Lords of Strategy by Walter Kiechel III The book traces the origins and evolution of strategic consulting through the stories of firms like BCG, Bain, and McKinsey.

The Rip-Off by David Craig A former consultant details the methods consulting firms use to secure contracts and maintain relationships with major corporations.

The Firm by Duff McDonald This history of McKinsey & Company chronicles the consulting giant's rise to power and its influence on global business decisions.

🔹 McKinsey & Company, featured prominently in the book, was founded in 1926 by James O. McKinsey and has served over 80% of the world's largest corporations. 🔹 Charles Madigan and James O'Shea were both veteran journalists at the Chicago Tribune, bringing decades of investigative reporting experience to their analysis of the consulting industry. 🔹 The global management consulting industry has grown from a $10 billion market in 1980 to over $250 billion in recent years. 🔹 The term "consulting" was first popularized by Arthur D. Little, who established the first management consulting firm in 1886. 🔹 Studies referenced in the book show that approximately 70% of change initiatives led by consultants fail to achieve their intended results.