Boston Consulting Group has actually clearly defined that their greatest asset is their people. The group uses a comprehensive training and summertime internship program to prepare the interested, highly experience and motivated future specialist of Boston Consulting. The group provides services in 43 countries and their experienced and experienced swimming pool of consultants originated from a variety of experiences and culture. Boston consulting likewise ensures their customers that a collective work group is the one priority.
Boston Consulting Group believes in strategic planning as a whole, suggesting with their client included.
The group makes every effort on strategic planning and is their biggest driven agenda with going into a brand-new client. The group does not operate on policies of design templates and redundant reorganizing of the business. They welcome ideas and imaginative tips for an efficient strategic planning. Every client is various in culture and operations. In every customer the group searches for brand-new concepts and deals with the collaborative technique to its client for strategic success.
The group thinks that working everyday and side by side with the client allows a higher output of performance and attaining business objectives. This technique likewise provides us the consulting group a greater experience of their market and permits venturing in other market growths for the client and fosters other finding out experiences for our experts. The company develops a five-year plan for its clients and assists in every step to execute the strategy through functional preparation.
As presented in the SWOT analysis one of our external stakeholders include outside businesses and the general business population.
The group also provides pro bono work for many non-profit agencies and provides consulting advice such as in the high technology area and also advice to implementation assistance. The firm also specializes in the turn around approach that implements the operational and strategic planning. This will allow for a quicker response for companies that need immediate assistance and assist with company growing pains. Once the strategic plans are identified and agreed upon an operational plan is put in place to roll out and go live on implementing the plan for company successes, quick results, and goals completed. Company and clients successes greatly impact the internal stakeholders as well. Other ideas and experiences are obtained throughout the reorganization of a company or even its restructure. All parties involved leave the completion with gained knowledge and a sense of satisfaction once an operational plan is completed.
Once voids in a company has been identified and focused on it allow for the firm to recommend other ideas for the company for continued future success and even other joint ventures if any. In conclusion, Boston consulting group was #8 on the Fortune 100 list of best companies to work for and # 3 in 2014. Employees have identified the company’s culture as busy, flexible and ever changing. A place for new and extensive ever-moving assignments all over the world. The company has worked in China and focused on the studies in operations and strategy, to overcome challenges in the China operations. Benchmarks and global strategies were discussed in this study. It is the second of four in a series of special reports on China by The Boston Consulting Group and Knowledge@Wharton. Listed below is an image of their SWOT analysis. Part of the weaknesses of the SWOT analysis is the tough competitors, which in Boston consulting groups case is McKinsey and Bain.
BCG focuses on assisting companies with and efficient and effective business strategy and planning BCG has been unsuccessful to international markets 1st company to be awarded as the “Best place to work for” Tough competition from other consulting groups means market share is limited Employees have a diverse experience for the robust skill set for the job
Getting into international business and evolving new concept there rather than sticking only strategy Stiff competition from existing consulting industry players
Their green initiatives can create a new opportunity of consultation for them Companies are not setting up their own knowledge and training centers in house.
Also larger companies are setting up their own training and knowledge center in house to avoid high consulting fees. However the training and experience will never compare to the actual employees that have years of hands on past experiences or and extensive education background. Boston consulting group continues to strive for the best and grow in more countries and work with a larger diversity in its near future. As #3 in the list of Fortune 500 companies for 2014, BCG will continue to excel in all areas of corporate America and its ever-changing business industry and current challenges. The company and its leaders also provide many business publications for their clients and the general public. Clients and employees alike have found great relationships, learning experiences and continued healthy relationships with Boston consulting group.
http://www.bcg.com/about_bcg/default.aspx. (2014). Boston Consulting Group. Retrieved from http://www.bcg.com/about_bcg/default.aspx
The Boston Consulting Group SWOT Analysis, (2014). Boston Consulting Group SWOT Analysis, 1-7