Information about Boston Consulting Group
| The Boston Consulting Group | |
) | |
| Partnership | |
| Founded | 1963 |
| Headquarters | Boston, Massachussetts 66 offices in 38 countries |
| Key people | Hans-Paul Bürkner, President & CEO |
| Industry | Management consulting |
| Products | Management consulting services |
| Revenue | 2006: US$1.8 billion |
| Employees | about 4,200 |
| Website | www.bcg.com |
- “BCG” redirects here. For other uses, see BCG (disambiguation).
The Boston Consulting Group (BCG) is a prestigious management consulting firm 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 (BCG) ranked 8th overall and 1st among smaller companies in Fortune Magazine's 2007 "100 Best US Companies to Work For" survey, based on strong employee development, a supportive culture, and progressive benefits.[1]
Competitors
Today BCG competes principally with McKinsey & Company and Bain & Company. None of the three 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.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 MBA graduates to join as Consultants from the world's top business schools[2], and focuses the majority of their recruiting effort to schools such as Harvard Business School, Wharton School, Stanford Graduate School of Business, INSEAD, Darden, Dartmouth College, Kellogg School of Management, MIT Sloan, University of Chicago, Haas School of Business, Duke University, and Columbia. There is also an opportunity to join as a Summer Associate or Summer Consultant (internship) position for 10 weeks, which for the majority of interns will result in an offer for full-time position.Insiders estimate that BCG North American offices receive around 10,000 resumes every year for the Associate position. Typically, 1 to 2% of candidates are extended an offer to join the firm, ~70% of whom accept - ratios that are considered in line with competitors.
After a two year tenure, some BCG Associates choose to stay for a third year as Senior Associates and have the opportunity to work abroad in a foreign office through BCG's Associate Exchange Program. Many Associates are also sponsored by BCG to attend business school and rejoin the company afterwards as Consultants.
Interview Process
BCG uses the case method to conduct interviews, which is an interview technique designed to simulate the types of problems inherent in management consulting and to test the qualitative and quantitative skills deemed important for abstract thinking in a business setting.The first round of interviews consists of two 30 minute cases with BCG consultants. Successful candidates may be passed onto the second round corresponding with a regional office. The second round consists of three 30-45 minute interviews with partners from that office in a similar format to the first round interviews.
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.
BCG growth-share matrix
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In the 1970s, BCG created and popularized 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", 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.
The chart was popular for two decades and "continues to be used as a primer in the principles of portfolio management," as BCG says.
Offices
Offices in Asia Pacific
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Offices in Europe
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Offices in the Americas
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Notable current and former employees
Business
Indra Nooyi - CEO of PepsiJeff 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
Jim Whitehurst - COO of Delta Air Lines
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/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 curriculumBenjamin 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 [3]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 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
References
1.[4]2.[5]
3.[6]
See also
Growth-share matrixHenderson Typeface family designed in 2006-07 for the BCG exclusive use:
Henderson Serif
Henderson Sans
External links
Business law
Business organizations
Basic forms:
Sole proprietorship
Corporation
Partnership
(General · Limited · LLP)
Cooperative
USA:
Business trust · LLC · LLLP
Delaware corporation
Nevada corporation
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Limited company
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Business organizations
Basic forms:
Sole proprietorship
Corporation
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Cooperative
USA:
Business trust · LLC · LLLP
Delaware corporation
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UK/Commonwealth:
Limited company
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19th century - 20th century - 21st century
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Year 1963 (MCMLXIII
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1930s 1940s 1950s - 1960s - 1970s 1980s 1990s
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Hans-Paul Bürkner has been President and CEO of The Boston Consulting Group since 2003. He joined the firm in 1981 in Munich and was a member of the teams that opened BCG’s Düsseldorf (1982) and Frankfurt (1991) offices.
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Industry (from Latin industrius, "diligent, industrious"), is the segment of economy concerned with production of goods. Industry began in its present form during the 1800s, aided by technological advances, and it has continued to develop to this day.
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Management consulting (which comprises strategy consulting and operations consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the industry
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Aspinwall Classification System (Leo Aspinwall, 1958) classifies and rates products based on five variables:
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- Replacement rate (How frequently is the product repurchased?)
- Gross margin (How much profit is obtained from each product?)
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Management consulting (which comprises strategy consulting and operations consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the industry
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Revenue is a business term for the amount of money that a company receives from its activities in a given period, mostly from sales of products and/or services to customers.
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Employment is a contract between two parties, one being the employer and the other being the employee. An employee may be defined as: "A person in the service of another under any contract of hire, express or implied, oral or written, where the employer has
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A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN.
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BCG can stand for:
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- The Boston Consulting Group, an international management consulting firm
- Bacillus Calmette-Guérin, a vaccine for tuberculosis
- Bandaranayaka college gampaha
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Management consulting (which comprises strategy consulting and operations consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the industry
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Bruce D. Henderson (1915-1992) was the founder of the Boston Consulting Group (BCG). Henderson founded BCG in 1963 in Boston, Massachusetts.
Originally called the Management and Consulting Division of the Boston Safe Deposit and Trust Company, what became BCG was itself a
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Originally called the Management and Consulting Division of the Boston Safe Deposit and Trust Company, what became BCG was itself a
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Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University.
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Arthur D. Little, Inc. is the world's first management consulting firm. Founded in 1886 by Arthur Dehon Little, an MIT chemist who discovered acetate, and co-worker Roger Griffin, in Cambridge, Massachusetts, Arthur D. Little pioneered the concept of contracted technology research.
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Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives[1].
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McKinsey & Company
Incorporated Partnership
Founded 1926
Headquarters 90 offices in 50 countries
Key people Ian Davis, Managing Director
Industry Management consulting
Products Management consulting services
Revenue US$ 3.8 billion (est.
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Incorporated Partnership
Founded 1926
Headquarters 90 offices in 50 countries
Key people Ian Davis, Managing Director
Industry Management consulting
Products Management consulting services
Revenue US$ 3.8 billion (est.
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Bill Bain is a management consultant, known for his role as one of the founders of the management consultancy that bears his name, Bain & Company.
Prior to founding Bain & Company, Bill Bain was a Vice President at the Boston Consulting Group (BCG).
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Prior to founding Bain & Company, Bill Bain was a Vice President at the Boston Consulting Group (BCG).
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Bain & Company
Partnership
Founded 1973
Headquarters 37 offices in 24 countries
Key people Orit Gadiesh, Chairman
Industry Management consulting
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Partnership
Founded 1973
Headquarters 37 offices in 24 countries
Key people Orit Gadiesh, Chairman
Industry Management consulting
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worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
Please [ improve this article] or discuss the issue on the talk page.
Employee-owned corporations are corporations owned in whole or in part by their employees.
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Fortune magazine is an American business magazine founded by Henry Luce in 1930. His publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner, the world's largest media conglomerate, before it was acquired by AOL in 2000.
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McKinsey & Company
Incorporated Partnership
Founded 1926
Headquarters 90 offices in 50 countries
Key people Ian Davis, Managing Director
Industry Management consulting
Products Management consulting services
Revenue US$ 3.8 billion (est.
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Incorporated Partnership
Founded 1926
Headquarters 90 offices in 50 countries
Key people Ian Davis, Managing Director
Industry Management consulting
Products Management consulting services
Revenue US$ 3.8 billion (est.
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Bain & Company
Partnership
Founded 1973
Headquarters 37 offices in 24 countries
Key people Orit Gadiesh, Chairman
Industry Management consulting
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Partnership
Founded 1973
Headquarters 37 offices in 24 countries
Key people Orit Gadiesh, Chairman
Industry Management consulting
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Management consulting (which comprises strategy consulting and operations consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the industry
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Hans-Paul Bürkner has been President and CEO of The Boston Consulting Group since 2003. He joined the firm in 1981 in Munich and was a member of the teams that opened BCG’s Düsseldorf (1982) and Frankfurt (1991) offices.
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Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University.
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The Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton, making it the world’s oldest business school.
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The Stanford Graduate School of Business (also known as Stanford Business School or Stanford GSB) is one of the professional schools of Stanford University, in Stanford, California. It is one of the leading business schools in the United States.
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INSEAD is a graduate business school and research institution with campuses in Fontainebleau (near Paris), France and in Singapore. In 2006, an INSEAD Executive Education centre was inaugurated in Abu Dhabi.
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Darden most often refers to the Darden Graduate School of Business Administration at the University of Virginia.
Other uses of the name may include:
People:
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Other uses of the name may include:
People:
- Christopher Darden, American lawyer
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