Industry Research Assignment Consulting Firms Group 4: Kenny Chik, William Fung, Lok Wong, Wai Poon, Boscal Yuen
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Industry Research AssignmentConsulting Firms
Group 4: Kenny Chik, William Fung, Lok Wong, Wai Poon, Boscal Yuen
Content
What Consulting Firms do
Big players
Mckinsey & CompanyCorporate Finance
Insurance
Banking & Securities
What Consulting Firm do
as their name suggests - they consult
e.g.
"technical consultants" give advice on technological issues "financial consultants" give advice about money
Our focus: Management Consulting
Inside a consulting firm are many expertsthey are typically organized into teams, specifically chosen for a given project.the team is constructed internally by the consulting firm, and it is maximized for efficient human capital composition
e.g. “How to make vanilla coca-cola a success”team size depends on the job specifications and the clients' needs
Big NamesMcKinsey & Company
Boston Consulting Group
Booz Allen Hamilton
Bain & Company
2003 FIRM 2002 RANK HEADQUARTERS
RANK
1 McKinsey & Company 1 New York, NY
2
Boston ConsultingGroup 2 Boston, MA
3 Bain & Company 3 Boston, MA
4 Booz Allen Hamilton 4 McLean, VA
5 Monitor Group 8 Cambridge, MA
6
Mercer ManagementConsulting 6 New York, NY
7 IBM Global Services 13 Somers, NY
8 Deloitte Consulting 10 New York, NY
9 Accenture 5 New York, NY
10 Gartner 9 Stamford, CT
The Boston Consulting Group
An international strategy and general management consulting firm
Mission is to help leading corporations create and sustain competitive advantage.
The Boston Consulting Group
Areas of Expertise :
The firm conducts research and analysis in several key areas of expertise:
branding, consumer goods and retailing, corporate development, deconstruction, electronic commerce, energy and utilities, financial services, health care and pricing etc…
The Boston Consulting Group
Main Clients :the 500 largest corporations in North America, Asia, Europe, and Australia.
America : Washington DC, LA, San Francisco, NY, Chicago, BostonAsia : Tokyo, Vietnam, HK, Singapore,Bangkok, Shanghai etc…Europe : London, Paris, Hamburg etc…
Booz Allen Hamilton
Booz Allen, a global leader in strategy and technology consulting, provides services to major international corporations and government clients around the world.
Booz Allen Hamilton
Areas of Expertise:
Strategy
Organization and Change Leadership
Operations
Information Technology
Technology Management
Booz Allen Hamilton
Main Clients:
(1) New Jersey Transit
(2) Hudson-Bergen Light Railway
(3) Federal "Aviation Agency
(4) Nissan Motor Company
(5) Brasil Telecom
Bain & Company
Areas of Expertise:
Portfolio management, bill presentment, M&A, private equity consulting
Bain & Company
Main clients:
Bain has done over 1,000 studies for more than 300 financial services firms around the world - one-third of them banks.
Early stage venture capital, large traditional buyout firms,retail, commercial and investment banks
McKinsey & Company
Founded in 1926 by the University of Chicago accounting professor James "Mac" McKinsey.
In 1964, the McKinsey Quarterly was launched. The foremost journal of management ideas produced by a consulting firm.
1994-97, it accelerates global expansion. Offices in more than 40 countries.
Mckinsey & Company
In 2000, the high-tech boom helps to drive annual revenues over $3 billion, making McKinsey twice as big as its nearest competitor.
Most recently, McKinsey assists Hewlett-Packard CEO on HP's controversial Compaq acquisition. McKinsey earns $9 million on deal.
Service offerings
Banking & Securities
Helps clients in commercial banking and investment banking/brokerage, asset managers, diversified financial institutions, consumer finance companies…
Business Building
Focuses on kick-starting and sustaining profitable growth in client organizations.
Service offeringsElectric Power & Natural Gas
Helps incumbents and new entrants manage in this rapidly expanding and liberalized sector.
Travel & LogisticsAddresses all transportation sectors, including airlines and airports, railroads, post, parcels, express delivery, trucking, forwarding and logistics, shipping and ports, urban transport, and travel and tour operations.
Corporate Finance and Strategy
Capital Markets StrategyAdvise how to create and unlock value in capital markets.
Example: Improving the low market valuation of a companyThere were three main ways:
Better information for investors and equity analystsCompany can raise more capital to finance further growth and increase its strategic flexibilityLimitation of the risk of an unfriendly takeover, with the danger of the company losing control over its future
Corporate Finance and Strategy
Mergers, AcquisitionsSelect and value targets, determine the value-creation potential of the transaction, and provide execution support from early discussions to negotiations and closing
Post-Merger ManagementProvide problem-solving and execution support for high-impact, tailored solutions focused on capturing situation-specific sources of value and building internal capabilities to make repeated acquisitions.
Corporate Finance and StrategyExample: A European Bank want a further expansion, but found the situation was complex in terms of the “emerging markets” economic environment.
Mckinsey help client to do the following things:To assess the attractiveness of the target’s country banking market and of the target itselfTo develop a valuation and a price range for the bidding process, including the development of a post-acquisition strategy.To embed the acquisition opportunity within the client’s growth strategy.
Corporate Finance and StrategyExample: Clients identified an opportunity to acquire a British manufacturing company in a relatively mature industry, and to merge this with a foreign company in the same industry.
Mckinsey help client to evaluate the following three factors :
How attractive is the industry?What is the position and potential of the British company, and of the foreign player? What scale of synergy could be achieved by the merger?
Corporate Finance and Strategy
Value-Based ManagementHelp establish value-based performance enhancement programs throughout the organization.
Example: Portfolio of client businesses was too broad, and found difficult to perform much better
Mckinsey will help client to develop a new corporate strategy that would further focus the business portfolio, and implement a program that would, in three to five years, fundamentally transform the corporation
Corporate Finance and StrategyExample: (cont’)Finally Mckinsey did the following things:
Objective Assessment of Competencies (chose the business units with the most shareholder value at stake and worked with them for 2-3 months)Evaluation of the Company's PortfolioDeveloping a Transformation Plan
Initial Public OfferingsAdvise on value-creating initial public offerings, provide services for the full range of IPOs, from start-ups through privatizations and spin-offs.
InsuranceProperty and Casualty Insurance
work with both personal and commercial lines carriers
to identify and develop new business opportunities
to improve operational performance in an increasingly global arena
InsuranceLife Insurance & Wealth Accumulation
help clients shape distinctive strategies
develop the executional excellence necessary for continued success
InsuranceAsset Management
embrace all elements of the business system, including fund administration, the investment management process, distribution, product development, and branding/marketing.
InsuranceReinsurance
offer guidance and expertise to reinsurers
on global business strategy and investment management
on opportunities in life and health reinsurance
InsuranceIT in Insurance
work with clients focuses on six key drivers: business requirements, technology architecture, application portfolio, organizational capability, technology infrastructure, and economic priorities.
InsurancemRisk: Insurance e-Commerce
launch on-line businesses both within financial services and across other industriesoffers senior insurance executives insurance news and proprietary insight on industry trends
Banking and Securities European Banking & Insurance
Insurance asset management: Property and casualty, life, health, reinsurance and
asset management
Retail banking: Financial (and nonfinancial) institutions
participating in the personal financial services arena
Banking and Securities
Wholesale banking: Risk management, marketing
Banking & Securities
North American Banking & Securities
Payments: credit/debit cards, internet payment systems,
payment networks and devices
Retail Banking/Consumer Credit: cost and productivity management, sales and
marketing effectiveness
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