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Revision as of 21:12, 20 June 2011

Booz & Company
Company typePartnership
IndustryManagement consulting
Founded1914, by Edwin Booz
Headquarters New York, New York
60 offices in 33 countries
Key people
Joe Saddi, Chairman
Shumeet Banerji, CEO
Revenue$1.1 billion (2008)[1]
Number of employees
3,000[2]
Websitewww.booz.com

Booz & Company is a global management consulting firm founded in 1914 by Edwin Booz. It is recognized as one of the most prestigious management consulting firms in the world[3] and one of the best consulting firms to work for by Consulting Magazine.[4]. Booz and Company is among the top recruiters of graduates of the top-ranked business schools in the world, in addition to hiring first-rate people with advanced degrees in science, medicine, engineering and law. The company has 60 offices in 33 countries and seventy-five of the world's largest 100 corporations are Booz and Company clients.[5].

The company sold its public sector business, Booz Allen Hamilton, to private equity firm Carlyle Group in 2008. The firm now encompasses the remaining commercial consulting business, as well as all consulting operations with government entitites outside the United States. Meanwhile, Booz Allen Hamilton is now focused exclusively on U.S. government consulting endeavors.

While the two firms continue to collaborate on a limited number of joint opportunities, their non-compete agreement will lapse in May 2011.[6]

The company purchased Katzenbach Partners for an undisclosed sum in 2009.[7]

History

After graduating from Northwestern University in Chicago in 1914, Edwin Booz developed the business theory that companies would be more successful if they could call on someone outside their own organizations for expert, impartial advice.[8] This theory developed into a new profession — management consulting — and the firm that would bear his name. Booz established a small consulting firm in Chicago, and, two years later, he and two partners formed the Business Research and Development Company, which conducted studies and performed investigational work for commercial and trade organizations. This service, which Booz labeled as the first of its kind in the Midwest, soon attracted such clients as Goodyear Tire & Rubber Company, Chicago's Union Stockyards and Transit Company, and the Canadian & Pacific Railroad."[9]

By the end of the 1950s, Time Magazine dubbed the firm "the world's largest, most prestigious management consulting firm."[10]

In 1970, Booz Allen went public with an initial offering of 500,000 shares at $24 per share. Trading continued through 1976.[10]

Notable contributions

Over the years, Booz has been credited with developing some of the most important concepts in business. Most notably, the firm coined the terms and developed the concepts of supply chain, supply chain management, product life cycle, the PERT Chart, and the Organization DNA.[11][12]

The firm publishes the majority of its thought leadership in its quarterly management magazine Strategy+Business, which in 2009 was one of just two business magazines to grow its circulation, along with The Economist.[12] The publication's founding Editor-in-Chief Joel Kurtzman was a former Harvard Business Review Editor-in-Chief. While at Strategy+Business, he coined the widely-used term thought leader.[12]

In 2010, White Space report on consulting firms' thought leadership, ranked Booz as first in foresight because of "the consistently interesting and topical writing in strategy+business".

The Katzenbach Center at Booz & Company has generated pioneering research on the importance of fostering companies' informal organization to improve corporate performance. In a white paper entitled "Fast Track to Recovery"[13] and the book Leading Outside the Lines,[14] Booz Partner Jon Katzenbach uses various case studies to illustrate the exchange between the formal and the informal elements of organizations.

Prominent assignments

Booz & Company has had a hand in several notable private and public engagements throughout its years. The dawn of the contract system for Hollywood movies, the merger of the National and American football leagues, the rescue of the Chrysler Corporation from bankruptcy, and the creation of Deutsche Telekom from government agencies that had grown up on both sides of the Iron Curtain all involved Booz assignments.[15]

Offices

North America

United States Atlanta
United States Boston
United States Chicago
United States Cleveland

United States Dallas
United States Detroit
United States Florham Park
United States Houston

United States Los Angeles
Mexico Mexico City
United States New York
United States Parsippany

United States San Francisco
United States Washington DC

South America

Argentina Buenos Aires

Brazil Rio De Janeiro

Brazil São Paulo

Chile Santiago

Europe

Netherlands Amsterdam
Denmark Copenhagen
Germany Berlin
Republic of Ireland Dublin
Germany Düsseldorf

Germany Frankfurt am Main
Turkey Istanbul
Finland Helsinki
United Kingdom London
Spain Madrid

Italy Milan
Russia Moscow
Germany Munich
France Paris
Italy Rome

Sweden Stockholm
Germany Stuttgart
Austria Vienna
Poland Warsaw
Switzerland Zurich

Middle East

United Arab Emirates Abu Dhabi
Lebanon Beirut

United Arab Emirates Dubai
Qatar Doha

Saudi Arabia Riyadh

Egypt Cairo

=== Asia =/> |}

Australia, New Zealand & South East Asia

New Zealand Auckland
Thailand Bangkok

Australia Brisbane
Australia Canberra

Indonesia Jakarta
Malaysia Kuala Lumpur

Australia Melbourne
Australia Sydney

Competitors

Booz and Company has three main competitors in the market to provide strategy services to Fortune 500 companies and major government institutions: McKinsey & Company (McKinsey), The Boston Consulting Group (BCG), and Bain & Company (Bain).[16]

Booz and Company also competes with other major strategy consulting firms, namely Roland Berger Strategy Consultants, A.T. Kearney, Oliver Wyman, Arthur D. Little and Monitor Group.

Recruiting

In 2007, the firm had roughly 150,000 applicants and 1033 new jobs.[17] The firm recruits employees from the world's best business schools. Booz is the second largest recruiter at Columbia Business School[18] and the third largest recruiter at INSEAD[19] and London Business School.[20]

The firm operates on a modified version of the Cravath System, under which employees on certain career paths are promoted within a certain time frame or "counseled out".[11]

Notable companies founded by current and former employees

Staff & Alumni

Notable Employees

Alumni in Business

Booz employees have been known to exit into industry after consulting, as clients often look to hire them. Below is a list of former employees prominent in industry.

Alumni in Politics and Public Service

See also

References

  1. ^ by '+authorShort+' (2010-10-21). "Booz & Company Inc. | Company profile from Hoover's". Hoovers.com. Retrieved 2011-06-15. {{cite web}}: Text "'+pubdate+'" ignored (help); Text "Length: '+duration+'" ignored (help)
  2. ^ "ConsultingMag.com". ConsultingMag.com. Retrieved 2011-06-15.
  3. ^ "Jobs and Careers". Vault.com. Retrieved 2011-06-15.
  4. ^ "Awards & Recognition". Booz.com. 2010-12-20. Retrieved 2011-06-15.
  5. ^ INSEADofficial (2010-06-28). "‪ILSE: Joe Saddi, Chairman, Booz & Co‬‏". YouTube. Retrieved 2011-06-15.
  6. ^ "sv1za". Sec.gov. Retrieved 2011-06-15.
  7. ^ Dvorak, Phred (23 April 2009). "Booz to Buy Katzenbach Partners". The Wall Street Journal.
  8. ^ "Booz Allen History". Boozallen.com. Retrieved 2011-06-15.
  9. ^ "JRANK Booz Allen Hamilton History". Companies.jrank.org. Retrieved 2011-06-15.
  10. ^ a b "Booz, Allen & Hamilton, Inc. - Lehman Brothers Collection". Library.hbs.edu. Retrieved 2011-06-15.
  11. ^ a b Goldfarb, Zachary A. (4 February 2008). "Should This Marriage Be Saved?". The Washington Post. Retrieved 26 April 2010.
  12. ^ a b c "How Booz & Company Develops and Markets Consulting Concepts". The Bloom Group. Retrieved 2011-06-15.
  13. ^ http://www.booz.com/media/uploads/Fast_Track_To_Recovery.pdf
  14. ^ "Leading Outside the Lines". Leading Outside the Lines. Retrieved 2011-06-15.
  15. ^ "History". Booz.com. Retrieved 2011-06-15.
  16. ^ "Selling Professional Services to the ... - Google Books". Books.google.com. 2010-01-20. Retrieved 2011-06-15.
  17. ^ "100 Best Companies to Work For 2008: Booz Allen Hamilton snapshot". CNN. Retrieved 26 April 2010.
  18. ^ "Columbia University: Full-Time MBA Profile". BusinessWeek. Retrieved 2011-06-15.
  19. ^ "Insead: Full-Time MBA Profile". BusinessWeek. Retrieved 2011-06-15.
  20. ^ [1][dead link‍]
  21. ^ http://www.hbs.edu/entrepreneurship/board/bio_rwadsworth.inc.html
  22. ^ "http://www.booz.com/global/home/who_we_are/leadership/40832353/george_appling". Booz.com. Retrieved 2011-06-15. {{cite web}}: External link in |title= (help)
  23. ^ "BRIGHTSTAR APPOINTS GEORGE APPLING AS CHIEF OPERATING OFFICER | Press Releases | News Room | Brightstar". Brightstarcorp.com. 2006-07-05. Retrieved 2011-06-15.
  24. ^ "http://www.booz.com/me/home/what_we_think/40007409/40007869/45862763". Booz.com. Retrieved 2011-06-15. {{cite web}}: External link in |title= (help)
  25. ^ "http://www.booz.com/global/home/who_we_are/leadership/40832353/jon_katzenbach". Booz.com. Retrieved 2011-06-15. {{cite web}}: External link in |title= (help)
  26. ^ "http://www.booz.com/global/home/who_we_are/leadership/40832353/kenneth_kurtzman". Booz.com. Retrieved 2011-06-15. {{cite web}}: External link in |title= (help)
  27. ^ Rice Alliance (2011-05-18). "Rice Alliance - External Advisory Board". Alliance.rice.edu. Retrieved 2011-06-15.
  28. ^ "http://www.booz.com/me/home/what_we_think/40007409/40007869/45109479". Booz.com. Retrieved 2011-06-15. {{cite web}}: External link in |title= (help)
  29. ^ 05/10/10 (2010-03-31). "Fidelity Investments". Fidelity.com. Retrieved 2011-06-15. {{cite web}}: |author= has numeric name (help)
  30. ^ a b "ConsultingMag.com". ConsultingMag.com. Retrieved 2011-06-15.
  31. ^ "Andrew Stern Appointed Chief Executive Officer of SunGard Availability Services". Sungard.com. 2010-06-09. Retrieved 2011-06-15.
  32. ^ "IMS Health Names Ari Bousbib Chief Executive Officer; David R. Carlucci to Remain Chairman - News Press Release". PharmiWeb.com. Retrieved 2011-06-15.
  33. ^ Bill Jackson (2011-05-09). "Bill Jackson: Executive Profile & Biography - BusinessWeek". Investing.businessweek.com. Retrieved 2011-06-15.
  34. ^ Robin Wauters May 23, 2011 (2011-05-23). "Former Netflix CFO Barry McCarthy Joins Eventbrite's Board Of Directors". Techcrunch.com. Retrieved 2011-06-15.{{cite web}}: CS1 maint: numeric names: authors list (link)
  35. ^ "Johnson Controls Names Bill Jackson Executive Vice President, Operations and Innovation - MILWAUKEE, May 9, 2011 /PRNewswire/". Wisconsin: Prnewswire.com. Retrieved 2011-06-15.
  36. ^ Lowry, Tom (19 January 2011). "Bob Bakish upped to new int'l role at Viacom". Variety.
  37. ^ "Corporate Press Releases, HarperCollins Publishers". Harpercollins.com. Retrieved 2011-06-15.
  38. ^ Charles L. Teschner Jr. "Charles Teschner: Executive Profile & Biography - BusinessWeek". Investing.businessweek.com. Retrieved 2011-06-15.
  39. ^ "Evraz NA appoints Mr Winkler as EVP Long Products - 204914 - 2011-05-13". Steel Guru. 2011-05-13. Retrieved 2011-06-15.
  40. ^ Posted May 30, 2011 (2011-05-30). "With Third Point's Jim Carruthers Jr. on Board, Advanced Bionutrition Takes in $1.2M in May - cbl". Citybizlist. Retrieved 2011-06-15.{{cite web}}: CS1 maint: numeric names: authors list (link)
  41. ^ "Music Conservatory Announces 3 New Trustees". Westchester.com. 2011-05-22. Retrieved 2011-06-15.
  42. ^ "Insurance News - Technip's Board of Directors Expands to Become More Diversified, International and Feminine". Insurancenewsnet.com. 2011-04-28. Retrieved 2011-06-15.
  43. ^ Kurtz, Rob (2011-05-20). "29 Great Presidents and CEOs in the Surgery Center Industry". Beckersasc.com. Retrieved 2011-06-15.
  44. ^ "Announces the Appointment of Melanie Nallicheri as Senior Vice President of Corporate Development for Cell Therapies | News releases". Geron. Retrieved 2011-06-15.
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