Word: bains
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...option. By now he can’t even remember the names of all the companies he applied to. “I applied to a few places—10, I think,” he says. “McKinsey, Katz, BCG, Goldman, two at Credit Suisse, Bain...three more…[pause]…that was back in October.” A few minutes later he thinks he’s remembered another but just lists Bain again...
Similar savings are available to most firms. Frederick Reichheld, a management consultant with Bain & Co. who studies worker commitment, has found that a 5% increase in employee retention can yield profit increases of 25% or more. "The more chaotic the environment, the greater the need for loyalty," says Reichheld. "When frontline workers have to act quickly and make decisions on their own initiative, they must be able to trust one another to behave in the best interests of the team." Some companies assume that in hard times, their workers will be grateful to have a job and be unlikely...
Anthony Y. Strike ’78 graduated from Harvard Business School in 1982, worked for Bain & Company in Boston and now is president of several companies that license technology to textile mills and garment manufacturers and franchise One Hour Martinizing Dry Cleaning stores. He lives in Cincinnati, Ohio with his wife Katie and their six children...
...their core competencies, those specific tasks and skills that a particular firm does better than anyone else. So let’s take a look at you guys and see what your core competencies are. Most people would suggest that consulting firms like McKinsey, Boston Consulting Group and Bain excel at offering critical, unbiased strategy advice to Fortune 500 companies. Similarly, the conventional wisdom holds that Goldman Sachs, Morgan Stanley and J.P. Morgan sell shares of companies to the public, facilitate mergers and acquisitions, and help wealthy individuals stay wealthy...
...however, share some common traits, from good labor relations to contingency plans. Smart CEOs avoid across-the-board layoffs, instead making careful cuts that don't deplete their talent pool. And the savviest bosses stay aggressive, often using downturns to "become savvy acquirers," says Orit Gadiesh, chairman of Bain & Co., a Boston-based consulting firm. GE Capital, for instance, went on a buying binge during the Asian financial crisis a few years ago. Above all, while mediocre firms often flail around for a new strategy to deal with a downturn, the best companies just keep on doing well what they...