Boston Consulting Group
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy founded by Bruce Henderson in 1963. The company was formed when Henderson, a Harvard Business School alumnus, left Arthur D. Little to accept the challenge from the CEO of the Boston Safe Deposit and Trust Company to start a consulting arm for the bank.
In 1965 Henderson thought that to survive, much less grow, in a competitive landscape occupied by hundreds of larger and better-known consulting firms, a distinctive identity was needed, and pioneered "Business Strategy" as a special area of expertise for BCG.
As his client list grew, Henderson targeted the nation's best business schools. At some point he was said to have eclipsed McKinsey as the top recruiter at Harvard, aggressively wooing its best students with high salaries and the chance to make a difference in a cutting-edge firm. He encouraged the young minds he hired to come up with innovative ideas that were meant to dazzle hardened corporate veterans.
In 1973 Bill Bain and others left BCG to form Bain & Company, and two years later Henderson arranged an employee stock ownership plan (ESOP), so that the employees could take the company independent from The Boston Safe Deposit and Trust Company. The buyout of all shares was completed in 1979.
In 1998 BCG created The Strategy Institute. Its purpose is to enrich the firm's strategic thinking by applying insights from a variety of academic disciplines to the strategic challenges facing both business and society.
The Boston Consulting Group ranked 11th overall and 1st among smaller companies in Fortune Magazine's 2008 "100 Best US Companies to Work For" survey, based on strong employee development, a supportive culture, and progressive benefits.[1]
Contents
Competitors
Today BCG competes principally with McKinsey & Company, Bain & Company and Monitor Group. None of these can be considered large in the management consulting market, however, they compete for the most lucrative market segment, consulting to top management. BCG has 66 offices in 38 countries, and its current CEO is Hans-Paul Bürkner.
Publications
Every year, BCG publishes articles, industry reports, government commissioned studies and books relating to particular industries or authorial practice areas. Many partners have written books on issues facing management in the modern business environment. Some recent publications:
Trading Up - Why Consumers Want New Luxury Goods and How Companies Create Them. By Michael J. Silverstein and Neil Fiske, 2003. A Business Week Bestseller and Berry AMA book prize winner.
Payback - Reaping the Rewards of Innovation. By James P. Andrew and Harold L. Sirkin, 2006. Published by the Harvard Business School Press, Payback has become a staple in the MBA curriculum.
Blown to Bits - How the New Economics of Information Transforms Strategy. By Philip Evans and Thomas S. Wurster, 2000.
Treasure Hunt - Inside the Mind of the New Consumer. By Michael J. Silverstein with John Butman, 2006.
The Change Monster - The Human Forces that Fuel or Foil Corporate Transformation and Change. Jeanie Daniel Duck, 2002.
Notable current and former employees
Business
Indra Nooyi - CEO of Pepsi
Jeff Immelt - CEO of General Electric (MBA internship)
Gary M. Reiner - SVP and CIO of General Electric
William Browder - co-founder of Hermitage Capital Management
Gerald Corbett - CEO of Railtrack
Michael R. Eisenson - co-founder of Charlesbank Capital Partners, LLC, former managing director of the Harvard Management Company
Ahmed Fahour - CEO of the Australian operations of the National Australia Bank
Rob Ketterson - managing partner of Fidelity Ventures
Stefan Quandt - owner of Delton AG
Andreas Jacobs - Chairman of Barry Callebau AG
Jim Whitehurst - CEO of Red Hat, former COO of Delta Airlines
Neil Fiske - CEO of Eddie Bauer
Shinichiro Ishikawa - CEO of GDH K.K.
Michelle Peluso - President & CEO of Travelocity
Tom Layton - CEO of Opentable.com
Jim Koch - Founder & Brewmaster of Boston Beer Company
Dean Nelson - Chairman of Primedia & Former managing director of Capstone group at KKR
Michael Dornemann - Chairman & CEO of Bertelsman Entertainment
Andy Hornby - CEO of HBOS
Politics and Public Service
Ira Magaziner - Aide and policy advisor to President Clinton, CEO of SJS Advisors and co founder of Brown University's open curriculum
Benjamin Netanyahu - Prime Minister of Israel (1996-1999)
Steve Poizner - California businessman and Republican politician
Mitt Romney - Governor of Massachusetts, CEO of the 2002 Winter Olympics in Salt Lake City, co-founder of Bain Capital
Hans Wijers - Minister of Economic Affairs of the Netherlands (1994-1998), CEO of Akzo Nobel
Others
Kaz Uchida- Professor, Waseda University, Tokyo
[2]
Aiba Koji- Professor, Waseda University, Tokyo
John R. Wells - Professor, President International Institute for Management Development, Switzerland
Linda Bilmes - academic, Harvard Kennedy School of Government
Clayton M. Christensen - Robert and Jane Cizik Professor, Harvard Business School
Michael Chu - senior lecturer, Harvard Business School, Former partner KKR and a founding senior partner of Pegasus Capital
John Legend - musician
Jesse Ward - golf pro
Jehan Ratnatunga - Co-Founder of Ripple (charitable organisation) and a director of ibookr.com
Alex Michel - Star of the Bachelor, season one
Michael J. Silverstein - Author of several bestselling business books, including "Trading Up" and "Treasure Hunt"
Azwan Khan Osman Khan - Senior Vice President, Corporate Strategy & Development, Celcom
Aamir A. Rehman - Author of "Dubai & Co.: Global Strategies for Doing Business in the Gulf States"
- Nick Viner Former senior partner of The Boston Consulting Group is Chief Executive of Jewish Community Centre, is Chairman of Pop-Up young people’s charity and a member of Belsize Square Synagogue.[2]
Partnerships
The Boston Consulting Group is a 'strategic partner' of the World Economic Forum. Only 100 companies hold this highest membership level among a total of 1000 of the world’s 'most influential and fastest-growing companies, representing all industry sectors and regions'. [3]
References
1.http://money.cnn.com/galleries/2007/fortune/0701/gallery.bestcos/8.html
2.http://bwnt.businessweek.com/recruiting/index.asp?c=243
