MANAGEMENT CONSULTANTS: Good Medicine for Ailing Companies

WHEN Lawyer George Alpert took over the ailing New Haven Railroad, his first move was to call in a management consultant. As soon as Joseph Grazier became president of American Radiator & Standard Sanitary, he sent for a consultant. While Dwight Eisenhower was campaigning in 1952, businessmen backers called in McKinsey & Co. (TIME, Jan. 12,1953), to determine the 250 top policymaking jobs through which the Republicans could make their policies felt.

Once, consultants were little more than efficiency experts with a fancier title. Today the management consultant tries to be a...