 | |
| Type | Partnership |
|---|---|
| Industry | Management consulting |
| Founded | 1963 |
| Headquarters | Boston, Massachusetts, United States 69 offices in 40 countries |
| Key people | Hans-Paul Bürkner, President & CEO |
| Products | Management consulting services |
| Revenue | US$ 2.75 billion (2009) |
| Employees | 4,400 (consultants) |
| Website | bcg.com |
The Boston Consulting Group or BCG, is a global management consulting firm with offices in 40 countries. It is widely recognized as one of the most prestigious management consulting firms in the world and a leader in business strategy. It is one of only 3 companies to appear in the top 15 of Fortune Magazine 's "Best Companies to Work For" report for 5 consecutive years. In the most recent list, BCG is listed as the 8th best company to work for, and is the only top-tier consulting firm to appear in the top 100. BCG is also the only firm to have been listed every year in Consulting Magazine 's "Best Firms to Work For" list, since its inception in 2001.
The company was formed when Bruce D. Henderson, a Harvard Business School alumnus, left Arthur D. Little to become head of a new management consulting division of the Boston Safe Deposit and Trust Company.
In 1975, Henderson arranged an employee stock ownership plan, 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.
Concepts developed
"Growth-share matrix"
In 1968, BCG created the "growth-share matrix", a simple chart to assist large corporations in deciding how to allocate cash among their business units. The corporation would categorize its business units as "Stars", "Cash Cows", "Question Marks", and "Dogs" (originally "Pets"), and then allocate cash accordingly, moving money from "cash cows" toward "stars" and "question marks" that had higher market growth rates, and hence higher upside potential.
"Experience curve"
For more details on this topic, see Experience curve effects.
The experience curve illustrates that the more often a task is performed the lower will be the cost of doing it. The task can be the production of any good or service. Each time cumulative volume doubles, value-added costs (including administration, marketing, distribution, and manufacturing) fall by a constant and predictable percentage.
In the late 1960s, Bruce Henderson expounded the implications of the experience curve for strategy.BCG research concluded that because relatively low cost of operations is a very powerful strategic advantage, firms should capitalize on these learning and experience effects.
Advantage matrix
For more details on this topic, see Boston Consulting Group's Advantage Matrix.
In this matrix, the two axes are economies of scale and differentiation. The four quadrants formed are called "Volume", "Stalemated", "Specialized", and "Fragmented".
Publications
Harold L. Sirkin, James W. Hemerling and Arindam K. Bhattacharya. Globality: Competing with Everyone from Everywhere for Everything 2008.
Carl W. Stern and Michael S. Deimler: The Boston Consulting Group on Strategy 2006. A collection of articles on strategy and management
James P. Andrew and Harold L. Sirkin: Payback - Reaping the Rewards of Innovation Harvard Business School Press 2006
Michael J. Silverstein with John Butman: Treasure Hunt - Inside the Mind of the New Consumer 2006.
Michael J. Silverstein and Neil Fiske: Trading Up - Why Consumers Want New Luxury Goods and How Companies Create Them 2003
Jeanie Daniel Duck: The Change Monster - The Human Forces that Fuel or Foil Corporate Transformation and Change 2002.
Tiha von Ghyczy and Bolko von Oetinger: Clausewitz on Strategy 2001.
Philip Evans and Thomas S. Wurster: Blown to Bits - How the New Economics of Information Transforms Strategy 2000.
Recruiting
BCG typically hires for an Associate or a Consultant position. Whilst so called "lateral hires" as Project Leader, Principal or Partner are possible, they are not the norm. BCG recruits undergraduates to join as Associates from the world's top academic institutions. In the United States, these institutions include about a dozen top private institutions. Top-performing Associates receive sponsorship to pursue an MBA, returning to BCG upon completion. Some Associates advance to Consultant and beyond without obtaining an MBA, but the vast majority of Associates attend one of the top business schools (most commonly Harvard, Stanford, Chicago Booth, Wharton or INSEAD, and sometimes other top tier business schools). A few complete JDs, MD and other graduate degrees at various institutions (called ADCs for Advance Degrees Consultants). BCG also makes large efforts to hire advanced non-business degree holders. Graduates holding J.D.s, M.D.s and Ph.D.s in disciplines like engineering, science, and liberal arts receive training in business fundamentals and then typically join the firm as Consultants. There is also an opportunity to join as a Summer Associate or Summer Consultant (internship) position for 10 weeks, which for many interns will result in an offer for full-time position.
Like most consulting firms, BCG uses a modified version of the Cravath System (aka "up or out").
Offices
Asia-Pacific
Auckland founded in 1990
Bangkok founded in 1994
Beijing founded in 2001
Canberra founded in 2010
Hong Kong founded in 1990
Jakarta founded in 1995
Kuala Lumpur founded in 1992
Melbourne founded in 1990
Mumbai founded in 1996
Nagoya founded in 2002
New Delhi founded in 2002
Seoul founded in 1995
Shanghai founded in 1993
Singapore founded in 1995
Sydney founded in 1990
Taipei founded in 2003
Tokyo founded in 1966
Europe, the Middle East, and Africa
Abu Dhabi founded in 2007
Amsterdam founded in 1993
Athens founded in 2001
Barcelona founded in 2002
Berlin founded in 1999
Brussels founded in 1993
Budapest founded in 1997
Casablanca founded in 2010
Cologne founded in 2001
Copenhagen founded in 1998
Dubai founded in 2007
Düsseldorf founded in 1982
Frankfurt founded in 1991
Hamburg founded in 1994
Helsinki founded in 1995
Istanbul founded in 2003 closed in 2005, and re-opened in 2010
Kiev founded in 2007
Lisbon founded in 1995
London founded in 1970
Madrid founded in 1987
Milan founded in 1986
Moscow founded in 1994
Munich founded in 1975, European headquarters
Oslo founded in 1996
Paris founded in 1972
Prague founded in 2004
Rome founded in 2001
Stockholm founded in 1988
Stuttgart founded in 1997
Vienna founded in 1997
Warsaw founded in 1997
Zürich founded in 1989
[edit]The Americas
Atlanta founded in 1995
Boston founded in 1963, Global Headquarters
Buenos Aires founded in 1995
Chicago founded in 1979
Dallas founded in 1994
Detroit founded in 2005
Houston founded in 2003
Los Angeles founded in 1982
Mexico City founded in 1998
Miami founded in 2003
Minneapolis founded in 2007
Monterrey founded in 1993
New Jersey founded in 2006
New York founded in 1984
Philadelphia founded in 2007
San Francisco founded in 1974
Santiago founded in 2002
São Paulo founded in 1997
Toronto founded in 1993
Washington, D.C. founded in 1996
Competitors
Four primary competitors provide strategy services to Fortune 500 entities: The Boston Consulting Group, Bain & Company, Booz & Company and McKinsey & Company. BCG also competes with other large strategy consulting firms such as Roland Berger Strategy Consultants, Oliver Wyman, A.T. Kearney and Monitor Group.
Notable current and former employees
This section needs references that appear in reliable third-party publications. Primary sources or sources affiliated with the subject are generally not sufficient for a Wikipedia article. Please add more appropriate citations from reliable sources. (August 2010)
Business
Jeff Immelt - CEO of General Electric
Indra Nooyi - CEO of Pepsi
George David - Former Chairman and CEO of United Technologies
Stefan Quandt - Owner of Delton AG
Andy Hornby - CEO of Alliance Boots, former CEO of HBOS plc
Neil Fiske - CEO of Eddie Bauer, co-author of Treasure Hunt: Inside the Mind of the New Consumer
Michael Dornemann - Chairman & CEO of Bertelsmann Entertainment
Bill Bain - Founder of Bain & Co.
Jim Whitehurst - CEO of Red Hat, former COO of Delta Airlines
Gerald Corbett - CEO of Railtrack
Mauricio González Sfeir - Former President of YPFB, Former Secretary of Energy of Bolivia, owner of La Paz F.C.
Jim Koch - Founder, CEO, & Brewmaster of Boston Beer Company
Dean Nelson - Chairman of Primedia
Bruce Buchanan - CEO of Jetstar Airways
Martin Halusa - CEO of Apax Partners
Steve Hafner - Co-founder and CEO of Kayak.com, co-founder and former CEO of Orbitz
Ahmed Fahour - CEO of Australia Post
Andreas Jacobs - Chairman of Barry Callebaut
Jean-Christophe Babin - CEO of TAG Heuer
John Replogle - President and CEO of Burt's Bees
Alan Tripp - Founder of SCORE! Educational Centers and InsideTrack
Michael A. Carpenter - Chairman of Southgate Alternative Investments, former CEO of Salomon Smith Barney
Michael R. Eisenson - co-founder of Charlesbank Capital Partners, former managing director of the Harvard Management Company
William Browder - Co-founder of Hermitage Capital Management
John Paulson - Founder of Paulson & Co, a New York-based hedge fund
Gary M. Reiner - SVP and CIO of General Electric
Harold L. Sirkin - Author of several business books, including Payback: Reaping the Rewards of Innovation and GLOBALITY: Competing with Everyone from Everywhere for Everything
Michael J. Silverstein - Author of several bestselling business books, including Trading Up: The New American Luxury and Treasure Hunt: Inside the Mind of the New Consumer
John Ho - Former Asia chief of The Children's Investment Fund
Jan Koeppen - COO of News Corporation Europe and Asia
Daniel Gulati - Young entrepreneur, one of Australia's "mini-moguls" under 25
Peter Balnaves - CTO of CVS Caremark
Mehmet Subasi - Founder & CEO of Vodaco
Philip Hulme - Founder of Computacenter
Ariane de Bonvoisin - Author of The First 30 Days: Your Guide to Any Change (And Loving Your Life More)
Aamir A. Rehman - Author of Dubai & Co.: Global Strategies for Doing Business in the Gulf States
Azwan Khan Osman Khan - Senior Vice President, Corporate Strategy & Development, Celcom
Austin Ligon - Co-Founder, Retired CEO CarMax
Politics and public service
Benjamin Netanyahu - Prime Minister of Israel (1996–1999, 2009–Present)
Mitt Romney - Governor of Massachusetts (2003–2007), CEO of the 2002 Winter Olympics in Salt Lake City, co-founder of Bain Capital, former CEO of Bain and Company
Margaret Spellings - Secretary of Education under President George W. Bush
Jeffrey Hunker - National Security Council member under President Bill Clinton and professor at Carnegie Mellon University
Hans Wijers - Minister of Economic Affairs of the Netherlands (1994–1998), CEO of Akzo Nobel
Ira Magaziner - Aide and policy advisor to President Clinton, CEO of SJS Advisors and co-founder of Brown University's open curriculum
Peter Lampl - Founder and Chairman of Sutton Trust
Alexander De Croo - Chairman of the Flemish Liberals and Democrats
Steve Poizner - California Insurance Commissioner (2007–2011) and California businessman
Laura Liswood - Co-founder and Secretary-General of the Council of Women World Leaders
Mahlon Apgar, IV - international authority on housing, infrastructure, and real estate
Natasha Tsukanova - Advisor to the Russian government on Energy M&A
Ken Hachikian - Chairman of the Armenian National Committee of America and Cambridge Heart, Inc.
Academia
Sally Blount - Dean, Northwestern University, Kellogg School of Management.
Clayton Christensen - Professor, Harvard Business School. Best known for his study of innovation in commercial enterprises, particularly his theory of disruptive technology.
Michael Chu - Senior Lecturer, Harvard Business School, Former partner Kohlberg Kravis Roberts, and a founding senior partner of Pegasus Capital Advisors
James Abegglen - former management and economics professor, the author and co-author of ten books on Japan, including the bestseller The Japanese Factory (1958), which introduced Japanese employment practices to America. Founder of BCG's Tokyo office.
Jeffrey Hunker - Distinguished Service Professor of Technology and Public Policy, Carnegie Mellon University. Former Dean of Carnegie Mellon's Heinz College, and Founding Director of the US Department of Commerce's Critical Infrastructure Assurance Office
Jeremy Davis - Former Dean and Professor, the Australian Graduate School of Management. Founder of BCG's Paris and Menlo Park offices.
Linda Bilmes - Professor, Harvard Kennedy School of Government
John R. Wells - Professor, President International Institute for Management Development, Switzerland
Kaz Uchida - Professor, Waseda University, Tokyo
Aiba Koji - Professor, Waseda University, Tokyo
Others
John Legend - Grammy award winning musician
Liu Yiting - Subject of the book Harvard Girl, a best-seller in China
Alex Michel - Star of the Bachelor, Season One
Alexander N. Rossolimo - Founding chairman of Center for Security and Social Progress, Inc.
Carl Woebcken - German film producer
Karan Bajaj - Author of the 2008 Indian best seller Keep Off the Grass
Jehan Ratnatunga - Co-Founder of Ripple (charitable organisation)
Jesse Ward - Golf pro
See also
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