it consulting

The Boston Consulting Group

By Gloria Taylor 5 August, 2023 3 mins read

The Boston Consulting Group was an American global management consultancy firm founded in 1963. Its headquarters are in Boston, Massachusetts. It is one of three "Big Three", along with McKinsey & Company, Bain & Company, and McKinsey & Company. This article will provide information about BCG's history, its consulting expertise, and some of their benefits. Consider BCG's benefits and salary structure if you are interested in joining a highly-rated company.

Bain rose through BCG's ranks

Bruce Doolin Henderson joined BCG as an ambitious young engineer in 1967. He had little business experience. He quickly rose in the ranks and was praised for his focus on detail and physical fitness. Bain eventually rose up to the position of vice-president where he was in charge of one of four divisions that contributed a large amount of the company's revenues. Although he had little business background, Bain quickly rose to prominence at BCG and was considered an heir apparent to the firm's founder, Bill Henderson.

Bain was a worker for a steel-fabricating firm after he graduated from Vanderbilt University's 1959 class. Bain & Co. were established in 1973. Bain Capital was later founded by Bain in 1984. It is difficult to imagine how Bain rose through the ranks of Boston Consulting Group without his contributions. This article will not replace Bruce Henderson, the founder of the firm's advisory and research services.

Founder Bruce Henderson's insights

The Founder of Boston Consulting Group, Bruce Henderson, will use his insight and experience to create a new Institute. The Institute will help companies develop new ideas and ways to solve business problems. Its name will be Henderson. It will focus on global trends, and examine the implications for businesses. It will study the intersection of innovation, strategy. The Institute will also study the impacts of globalization upon traditional industries such healthcare.

Bruce Doolin Henderson worked as a consultant for Arthur D. Little over his long career. After his frustrations, he approached the CEO at Boston Safe Deposit and Trust to discuss his problems. Henderson was hired by the bank to establish a consulting department. He was able create his ideas and the Boston Consulting Group was born.

Travel schedule

BCG travel is typically four days a week from Monday through Friday. On Fridays, the firm returns to work and consultants meet with managers to discuss how they can make the most of their weekends. After work, consultants may meet up with colleagues from BCG to enjoy happy hours. BCG consultants can expect a demanding travel schedule. The company also offers perks, such as Platinum memberships at Marriott hotels. Although this schedule sounds extreme, it is reasonable when you consider the company's commitment towards training and development.

The Boston Consulting Group employs over 12,000 people worldwide. The firm has won multiple awards for employee satisfaction, and Fortune magazine recently named it one of the 100 Best Companies To Work For in 2016. They are looking for people who have the right combination of drive, curiosity, and collaboration. In the past they have hired candidates to flexible jobs such as remote work, part-time and flexible hours.

BCG is a great place to work

BCG prides itself on its diversity. This is one of many advantages of working here. Different backgrounds and perspectives contribute to the creation of new solutions. To achieve this diversity, people must feel included and be free to express themselves. BCG provides a range of programs to encourage employees and to build community. Here are some examples.

The company pays for health insurance premiums for employees and compensates consultants for nonprofit work. It also pays a large part of the travel expenses of their consultant. Some employees may need to travel to clients, or spend considerable time in meetings. Although the work schedule of a BCG consultant is diverse, it is not difficult to see that it requires creativity and dedication. BCG employees love the flexibility of their work schedule.

FAQ

Who hires consultants?

Many organizations employ consultants to assist in projects. These consultants can be found in small and large businesses as well as government agencies, universities, educational institutions, non-profits, and education institutions.

While some consultants work for these companies, others are freelancers. In either case, the hiring process varies depending on the size and complexity of the project.

When hiring consultants, you will probably go through several rounds of interviews before choosing the person you think would be best suited for the position.

How do I get clients to my consulting business?

Finding a passion area is the first step. This could be social media or public relations. However, it must be something that you are passionate about. If you don't feel passionate about it, you might need to start small with web design. Once you have discovered the niche, understand what it does. What problems does the solution solve? Why should people use it? What are the benefits?

You can also try approaching businesses directly - perhaps they need someone who understands SEO or content creation, or maybe they just want to know where to go for advice on social media strategy.

If all else fails you can offer your services at free events such as conferences or networking nights. You'll get to know many potential clients without spending money advertising.

What industries use consultants

There are many different types. Some consultants are focused on a specific type of business, others may specialize in multiple areas.

While some consultants only work for private companies, others represent large corporations.

Many consultants also work internationally to assist companies from all corners of the globe.

How can I become a successful consultant

Find an area that you are passionate about. Next, you need to establish relationships. Understanding your clients' needs and operating style is essential. And finally, you must deliver results for them.

Although you don't have the ability to do everything perfectly, you must be better than anyone else. You must also have passion for your work. It doesn't suffice to say, "I will be a consultant." You must believe in yourself.

How do I start a LLC consulting business?

First, determine what you are looking to do as service provider. You must then ensure you are qualified to offer those services. It might also help to find someone who already does what you want to offer and see how they operate.

Once you have a clear idea of what you are offering, you can start to identify your target market. You may have to create more if there aren’t enough.

You must then decide whether you want your business to be run by you or hired others.

A license from the state could be required to start your own consulting business. However, this can take some time and require legal fees.

Statistics

WHY choose me: Why your ideal client should choose you (ex: 10 years of experience and 6-week program has helped over 20 clients boost their sales by an average of 33% in 6 months). (consultingsuccess.com)
On average, your program increases the sales team's performance by 33%. (consultingsuccess.com)
So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
"From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
According to IBISWorld, revenues in the consulting industry will exceed $261 billion in 2020. (nerdwallet.com)