Few banks use High End Consultants to give advise on many policy matters or business decisions, without using in house talent. Consider this example : The Intelligence wing receives a serious bomb threat to Air Force One. Taking no chances, they call in a senior partner from MCK. After much deliberation the senior partner hands over a bag and requests that this bag should always present on the plane. This, he says, would reduce the risk of the bomb threat. Everyone is very happy specially MCK with their big fat fee income. One fine day a sweeper opens the bag by mistake and is horrified to discover that this bag contained a live bomb. He hurriedly calls the Intelligence wing who then summons the senior partner from MCK and question him. On The partner explains. Statistics show that the probability of a bomb being on an airplane specially Air force One is 1/10000. However, the chance that there are two bombs on one plane is 1/10000000. So, plane is much safer as I have reduced the risk from 1/10000 to 1/10000000... Intelligence wing laps up the argument just like the management of these banks. ( Consultants are always right specially and would justify everything they say specially when the management depends upon them for advise without seeking the in house talents....................................Sampath Iyer. )
Posted on: Wed, 29 Oct 2014 15:07:05 +0000
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