Especially when they can do the job for them just as well if not better. According to my research, keeping an in house corporate development operation is just as costly as seeking consulting services from third parties such as the MBB and the other top consulting firms.
Secondly, I've also noticed that some firms still consult MBB/others when they have an in house corpdev ongoing operation. Why is that? Why do you need someone from outside when you're employing the best professionals who can carry out the assignment just as well. Help me understand?