Strategy&: Difference between revisions

Strategy&
Company type	Subsidiary of PwC
Industry	Management consulting
Predecessor	Business Research Service,; Edwin G. Booz Surveys,; Edwin G. Booz & Fry Surveys; Booz, Fry, Allen & Hamilton; Booz Allen Hamilton; Booz & Company
Founded	1914; 110 years ago
Headquarters	New York City, New York, United States
Key people	Peter Gassmann ; (Global Leader)
Number of employees	3,000+ employees
Website	www.strategyand.pwc.com

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Strategy& is the strategy consulting business unit of PricewaterhouseCoopers (PwC), one of the Big Four professional service firms.

Founded by Edwin G. Booz as Business Research Service in Chicago in 1914, the firm underwent numerous name changes before settling on Booz Allen Hamilton in 1943.^[1] In 2008, it split from Booz Allen Hamilton as Booz & Company, and, in 2013, it was acquired by PwC, the largest consulting acquisition of the company's history.^[2] The contract required PwC to drop the Booz name, and the unit became known as Strategy& in 2014.^[3] At the time of acquisition, the company had more than 80 offices in 41 countries.

According to Glassdoor, it is the second highest-paying company for employees in the United States as of April 2017.^[4]

History

Foundation and early development

After graduating from Northwestern University in Evanston, Illinois in 1914, Edwin G. 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.^[5] 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.^{[citation needed]}

At the end of the 1950s, Time Magazine dubbed the firm "the world's largest, most prestigious management consulting firm".^[6]

Public listing and continued growth

In 1970, Booz Allen went public with an initial offering of 500,000 shares at $24 per share. Trading continued through 1976.^[7]

In 2008, Booz & Company was spun off from Booz Allen Hamilton, in conjunction with a private equity takeover by The Carlyle Group.^[8] At the time, Booz & Company consisted of the commercial portion of Booz Allen Hamilton's consulting business, as well as all consulting operations with government entitites outside the United States. After the spin-off, Booz Allen Hamilton then focused exclusively on U.S. government consulting endeavors. In 2011, however, when the three-year noncompete provision expired, Booz Allen Hamilton began building out its commercial consulting practice, focusing on technology integration and cybersecurity programs.^[9]

In 2009, Booz & Company purchased Katzenbach Partners for an undisclosed sum, and has since launched the Katzenbach Center, focused on the development and application of innovative ideas for organizational culture and change.^[10]

In 2012, Axon Advisory Partners joined the company to launch Booz Digital, a full-service team of strategists, designers and technologists who "help companies turn ideas into transformational digital businesses".^[11]

In April 2013, Booz & Company acquired international consulting firm Management Engineers for its operations expertise and experience in industries such as manufacturing, chemicals and industrials. Through the acquisition, Management Engineers added 17 partners and 145 staff to Booz & Company, along with a market position in Germany, as well as China, the UK and the US.^[12]

Acquisition and rebranding

On October 30, 2013, Booz & Company announced it would be sold to PricewaterhouseCoopers as part of a conditional merger, pending regulatory approval and the vote of Booz partners scheduled for December 2013.^[13] Booz partners voted in favor on December 23, 2013,^[14] and the deal was closed in early April 2014. The acquisition, and subsequent change of name from Booz & Company to Strategy&, was announced on April 4, 2014.^[15] The name, pronounced "Strategy and", was widely criticized, but was required by an agreement with former parent Booz Allen Hamilton that the Booz name or variants could never be used in conjunction with a new legal entity.^[16]

Corporate affairs

Recruiting

In 2007, Booz & Company had roughly 150,000 applicants and 1033 new jobs.^[17] Strategy& is the second largest recruiter at Columbia Business School^[18] and the third largest recruiter at INSEAD.^[19]

The firm operates on a modified version of the Cravath System, under which employees are promoted within a certain time frame or "counseled out".^[20]^[21]

Research

Over the years, Booz has been credited with developing some of the important concepts in business. The firm coined the terms and developed the concepts of supply chain, supply chain management, product life cycle, the PERT Chart and organizational DNA.^[20]^[22]

The firm publishes the majority of its research 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. Strategy& also publishes several studies annually:

Study of CEOs, Governance, and Success:^[23] examining CEO successions and success among the world's top 2,500 public companies. The organization's 26th annual global CEO survey, which accessed 4,410 CEOs, was published in January 2023.^[24]
Global Innovation 1000:^[25] a study of R&D investment at the 1,000 biggest-spending public companies in the world
Industry Perspectives:^[26] outlooks on major trends, challenges, and opportunities that companies can expect to see in different sectors

The firm also regularly publishes cross-industry research related to its four major platforms: Capabilities-Driven Strategy, Deals, Digital, and Fitness for Growth.

The Katzenbach Center at Strategy& has generated a research on the importance of fostering companies' informal organization to improve corporate performance. In a white paper entitled "Fast Track to Recovery"^[27] and the book Leading Outside the Lines,^[28] Booz partner Jon Katzenbach uses various case studies to illustrate the exchange between the formal and the informal elements of organizations.

References

^ "Booz Allen Hamilton Profile". DC Job Source. 2014-12-25. Archived from the original on 2020-07-18. Retrieved 2020-07-18.
^ "PwC acquires global strategy consuting firm Booz & Company". Consultancy.org. 2013-10-30. Archived from the original on 2020-06-04. Retrieved 2020-07-18.
^ Michael Rapoport (April 3, 2014). "PricewaterhouseCoopers Renaming Booz & Co. as 'Strategy&'". Wall Street Journal. Archived from the original on November 12, 2020. Retrieved March 15, 2017.
^ "These Are the Highest-Paying Companies in America". Bloomberg. 2017-04-12. Archived from the original on 2017-04-19. Retrieved 2017-04-18.
^ "Booz Allen History". Boozallen.com. Archived from the original on 2007-07-14. Retrieved 2011-06-15.
^ Berselli, Beth (1997-11-10). "SOLUTIONS, INCORPORATED". Washington Post. ISSN 0190-8286. Archived from the original on 2020-07-17. Retrieved 2020-07-17.
^ "Booz, Allen & Hamilton, Inc. - Lehman Brothers Collection". Library.hbs.edu. Archived from the original on 2011-06-16. Retrieved 2011-06-15.
^ "Carlyle to Swallow Booz Unit". CFO.com. 2008-05-16. Archived from the original on 2012-04-03. Retrieved 2011-10-26.
^ Boye, Will (2011-10-26). "Booz Allen expanding in Charlotte". bizjournals.com. Archived from the original on 2011-10-28. Retrieved 2011-11-01.
^ Dvorak, Phred (23 April 2009). "Booz to Buy Katzenbach Partners". The Wall Street Journal.
^ Kashmir, Margaret (11 December 2012). "Axon Advisory Partners Joins Booz & Company to Launch Booz Digital". Yahoo! Finance. Archived from the original on 5 March 2016. Retrieved 17 January 2017.
^ Kashmir, Margaret (3 April 2012). "Booz & Company Closes Acquisition of Management Engineers". Yahoo! Finance.
^ Marcinek, Laura and Greg Farrell (30 October 2013). "PwC Agrees to Purchase Booz to Expand Advisory Services". Bloomberg. Archived from the original on 2 November 2013. Retrieved 3 November 2013.
^ "Global Consulting Firm Booz & Company Approves Combination with PwC". pwc.com. 23 December 2013. Archived from the original on 5 February 2015. Retrieved 7 March 2015.
^ "PwC completes its acquisition of Booz & Company". pwc.com. 3 April 2014. Archived from the original on 6 April 2014. Retrieved 3 April 2014.
^ Tom Gara. "Introducing Strategy&: No, That's Not a Typo". WSJ. Archived from the original on 2016-10-21. Retrieved 2017-08-04.
^ "100 Best Companies to Work For 2008: Booz Allen Hamilton snapshot - FORTUNE". money.cnn.com. Archived from the original on 2020-09-29. Retrieved 2020-08-03.
^ "Terms of Service Violation". www.businessweek.com. Archived from the original on November 6, 2007.
^ "Terms of Service Violation". www.businessweek.com. Archived from the original on November 12, 2007.
^ ^a ^b Goldfarb, Zachary A. (4 February 2008). "Should This Marriage Be Saved?". Archived from the original on 7 October 2017. Retrieved 3 November 2017 – via www.washingtonpost.com.
^ "Dr Maurice Roussety MBA". www.academia.edu. Archived from the original on 2024-05-03. Retrieved 2022-03-03.
^ "Inside the Marketplace of Ideas". www.bloomgroup.com. Archived from the original on 2010-09-23. Retrieved 2010-04-14.
^ "2016 CEO Success study - PwC's Strategy&". www.strategyand.pwc.com. Archived from the original on 2015-07-01. Retrieved 2015-05-13.
^ PWC, PWC's 26th Annual Global CEO Survey: Winning today’s race while running tomorrow’s Archived 2023-05-02 at the Wayback Machine, published 16 January 2023, accessed 2 May 2023
^ "2017 Global Innovation 1000 - Most Innovative Companies - PwC's Strategy&". www.strategyand.pwc.com. Archived from the original on 2015-04-16. Retrieved 2015-05-13.
^ "Industry Trends - PwC's Strategy&". www.strategyand.pwc.com. Archived from the original on 2015-07-01. Retrieved 2015-05-13.
^ "Brochure" (PDF). www.strategyand.pwc.com. Archived (PDF) from the original on 2015-02-05. Retrieved 2015-02-05.
^ "Leading Outside the Lines". Archived from the original on 6 September 2012.

[1] "Booz Allen Hamilton Profile". DC Job Source. 2014-12-25. Archived from the original on 2020-07-18. Retrieved 2020-07-18.

[2] "PwC acquires global strategy consuting firm Booz & Company". Consultancy.org. 2013-10-30. Archived from the original on 2020-06-04. Retrieved 2020-07-18.

[3] Michael Rapoport (April 3, 2014). "PricewaterhouseCoopers Renaming Booz & Co. as 'Strategy&'". Wall Street Journal. Archived from the original on November 12, 2020. Retrieved March 15, 2017.

[4] "These Are the Highest-Paying Companies in America". Bloomberg. 2017-04-12. Archived from the original on 2017-04-19. Retrieved 2017-04-18.

[bah-hist-5] "Booz Allen History". Boozallen.com. Archived from the original on 2007-07-14. Retrieved 2011-06-15.

[6] Berselli, Beth (1997-11-10). "SOLUTIONS, INCORPORATED". Washington Post. ISSN 0190-8286. Archived from the original on 2020-07-17. Retrieved 2020-07-17.

[library.hbs.edu-7] "Booz, Allen & Hamilton, Inc. - Lehman Brothers Collection". Library.hbs.edu. Archived from the original on 2011-06-16. Retrieved 2011-06-15.

[Carlyle_to_Swallow_Booz_Unit-8] "Carlyle to Swallow Booz Unit". CFO.com. 2008-05-16. Archived from the original on 2012-04-03. Retrieved 2011-10-26.

[9] Boye, Will (2011-10-26). "Booz Allen expanding in Charlotte". bizjournals.com. Archived from the original on 2011-10-28. Retrieved 2011-11-01.

[10] Dvorak, Phred (23 April 2009). "Booz to Buy Katzenbach Partners". The Wall Street Journal.

[11] Kashmir, Margaret (11 December 2012). "Axon Advisory Partners Joins Booz & Company to Launch Booz Digital". Yahoo! Finance. Archived from the original on 5 March 2016. Retrieved 17 January 2017.

[12] Kashmir, Margaret (3 April 2012). "Booz & Company Closes Acquisition of Management Engineers". Yahoo! Finance.

[13] Marcinek, Laura and Greg Farrell (30 October 2013). "PwC Agrees to Purchase Booz to Expand Advisory Services". Bloomberg. Archived from the original on 2 November 2013. Retrieved 3 November 2013.

[14] "Global Consulting Firm Booz & Company Approves Combination with PwC". pwc.com. 23 December 2013. Archived from the original on 5 February 2015. Retrieved 7 March 2015.

[15] "PwC completes its acquisition of Booz & Company". pwc.com. 3 April 2014. Archived from the original on 6 April 2014. Retrieved 3 April 2014.

[16] Tom Gara. "Introducing Strategy&: No, That's Not a Typo". WSJ. Archived from the original on 2016-10-21. Retrieved 2017-08-04.

[17] "100 Best Companies to Work For 2008: Booz Allen Hamilton snapshot - FORTUNE". money.cnn.com. Archived from the original on 2020-09-29. Retrieved 2020-08-03.

[18] "Terms of Service Violation". www.businessweek.com. Archived from the original on November 6, 2007.

[19] "Terms of Service Violation". www.businessweek.com. Archived from the original on November 12, 2007.

[washingtonpost.com-20] Goldfarb, Zachary A. (4 February 2008). "Should This Marriage Be Saved?". Archived from the original on 7 October 2017. Retrieved 3 November 2017 – via www.washingtonpost.com.

[21] "Dr Maurice Roussety MBA". www.academia.edu. Archived from the original on 2024-05-03. Retrieved 2022-03-03.

[22] "Inside the Marketplace of Ideas". www.bloomgroup.com. Archived from the original on 2010-09-23. Retrieved 2010-04-14.

[23] "2016 CEO Success study - PwC's Strategy&". www.strategyand.pwc.com. Archived from the original on 2015-07-01. Retrieved 2015-05-13.

[24] PWC, PWC's 26th Annual Global CEO Survey: Winning today’s race while running tomorrow’s Archived 2023-05-02 at the Wayback Machine, published 16 January 2023, accessed 2 May 2023

[25] "2017 Global Innovation 1000 - Most Innovative Companies - PwC's Strategy&". www.strategyand.pwc.com. Archived from the original on 2015-04-16. Retrieved 2015-05-13.

[26] "Industry Trends - PwC's Strategy&". www.strategyand.pwc.com. Archived from the original on 2015-07-01. Retrieved 2015-05-13.

[27] "Brochure" (PDF). www.strategyand.pwc.com. Archived (PDF) from the original on 2015-02-05. Retrieved 2015-02-05.

[28] "Leading Outside the Lines". Archived from the original on 6 September 2012.

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@@ Line 1: / Line 1: @@
+{{Short description|Strategy consulting firm}}
-{{Infobox_Company |
+{{Infobox company
-  company_name   = Booz & Company |
+| name = Strategy&
-  company_type   = [[Partnership]]|
+| type = Subsidiary of [[PwC]]
-  company_logo = |
+| logo = Strategy& logo.svg
-  company_slogan = Helping make companies more valuable|
+| predecessor = Business Research Service,<br /> Edwin G. Booz Surveys,<br /> Edwin G. Booz & Fry Surveys<br /> Booz, Fry, Allen & Hamilton<br /> [[Booz Allen Hamilton]]<br /> Booz & Company
-  foundation     = [[1914]]|
+| foundation = {{start date and age|1914}}
-  location = [[Image:Flag of the United States.svg|20px]] [[New York City]], [[New York]] <br/> |
+| location = [[New York City]], [[New York (state)|New York]]
-  key_people     = [[Joe Saddi]], Chairman <br/>  [[Shumeet Banerji]], CEO |
+| hq_location_country = United States
-  num_employees  = 3,200 employees worldwide |
+| key_people = Peter Gassmann <br />(Global Leader)
-  revenue        = US$ 1.0 billion in 2007 |
-  industry       = [[Management consulting]]  |
+| industry = [[Management consulting]]
+| num_employees = 3,000+ employees
-  products       = [[Management consulting|Management consulting services]], including [[strategy]], [[private equity]], [[operations]], [[mergers & acquisitions]], [[technology]] and [[organization]]|
-  homepage       = [http://www.booz.com/ www.booz.com]
+| homepage = [http://www.strategyand.pwc.com/ www.strategyand.pwc.com]
 }}
-'''Booz & Company''' is one of the oldest and most prestigious [[management consulting]] firms and is focused on working closely with the world's leading institutions to create and deliver essential advantage. Founded in 1914 by [[Edwin Booz]], Booz & Company is entirely owned by its approximately 200 officers and has 52 offices around the world.
+'''Strategy&''' is the [[strategy consulting]] business unit of [[PricewaterhouseCoopers|PricewaterhouseCoopers (PwC)]], one of the [[Big Four accounting firms|Big Four]] professional service firms.
-The company is in process of separation from [[Booz Allen Hamilton]] and will retain the entirety of its global commercial consulting business, while Booz Allen Hamilton will continue to focus on the American Government consulting business.
+Founded by [[Edwin G. Booz]] as Business Research Service in Chicago in 1914, the firm underwent numerous name changes before settling on [[Booz Allen Hamilton]] in 1943.<ref>{{Cite web|date=2014-12-25|title=Booz Allen Hamilton Profile|url=https://dcjobsource.com/boozallen.html|website=DC Job Source|access-date=2020-07-18|archive-date=2020-07-18|archive-url=https://web.archive.org/web/20200718113644/http://dcjobsource.com/boozallen.html|url-status=live}}</ref> In 2008, it split from Booz Allen Hamilton as Booz & Company, and, in 2013, it was acquired by PwC, the largest consulting acquisition of the company's history.<ref>{{Cite web|date=2013-10-30|title=PwC acquires global strategy consuting firm Booz & Company|url=https://www.consultancy.org/news/77/pwc-acquires-global-strategy-consuting-firm-booz-company|website=Consultancy.org|language=en|access-date=2020-07-18|archive-date=2020-06-04|archive-url=https://web.archive.org/web/20200604093223/https://www.consultancy.org/news/77/pwc-acquires-global-strategy-consuting-firm-booz-company|url-status=live}}</ref> The contract required PwC to drop the Booz name, and the unit became known as Strategy& in 2014.<ref>{{cite news|author=Michael Rapoport|date=April 3, 2014|title=PricewaterhouseCoopers Renaming Booz & Co. as 'Strategy&'|publisher=Wall Street Journal|url=https://online.wsj.com/news/articles/SB10001424052702303987004579477642677243618|access-date=March 15, 2017|archive-date=November 12, 2020|archive-url=https://web.archive.org/web/20201112030955/https://www.wsj.com/articles/SB10001424052702303987004579477642677243618|url-status=live}}</ref> At the time of acquisition, the company had more than 80 offices in 41 countries.
+According to [[Glassdoor]], it is the second highest-paying company for employees in the United States as of April 2017.<ref>{{Cite web|date=2017-04-12|title=These Are the Highest-Paying Companies in America|url=https://www.bloomberg.com/news/articles/2017-04-12/these-are-the-highest-paying-companies-in-america|website=Bloomberg|access-date=2017-04-18|archive-date=2017-04-19|archive-url=https://web.archive.org/web/20170419100926/https://www.bloomberg.com/news/articles/2017-04-12/these-are-the-highest-paying-companies-in-america|url-status=live}}</ref>
 ==History==
-"Booz & Company traces its roots to [[Edwin G. Booz]]. A student at Chicago's Northwestern University in the early 1900s, Booz received a bachelor's degree in economics and a master's degree in psychology, upon completion of his thesis 'Mental Tests for Vocational Fitness.' In 1914, 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."<ref name="jrank">[http://companies.jrank.org/pages/604/Booz-Allen-Hamilton-Inc.html JRANK Booz Allen Hamilton History]</ref>
+=== Foundation and early development ===
-===Formation===
-After graduating from [[Northwestern University]] in [[Illinois]] in 1914, [[Edwin G. 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.<ref name="bah-hist">[http://www.boozallen.com/about/history Booz Allen History]</ref> This theory developed into a new profession — [[management consulting]] — and the [[firm]] that would bear his name.
+After graduating from [[Northwestern University]] in [[Evanston, Illinois]] in 1914, [[Edwin G. 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.<ref name="bah-hist">{{cite web |url=http://www.boozallen.com/about/history |title=Booz Allen History |publisher=Boozallen.com |access-date=2011-06-15 |archive-date=2007-07-14 |archive-url=https://web.archive.org/web/20070714202256/http://www.boozallen.com/about/history |url-status=live }}</ref> 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 Railway|Canadian Pacific Railroad]].{{cn|date=August 2022}}
+At the end of the 1950s, [[Time Magazine]] dubbed the firm "the world's largest, most prestigious management consulting firm".<ref>{{Cite news|last=Berselli|first=Beth|date=1997-11-10|title=SOLUTIONS, INCORPORATED|language=en-US|newspaper=Washington Post|url=https://www.washingtonpost.com/archive/business/1997/11/10/solutions-incorporated/eab2f3f9-fce2-4c8c-9227-7ab6bba2790d/|issn=0190-8286|access-date=2020-07-17|archive-date=2020-07-17|archive-url=https://web.archive.org/web/20200717120645/https://www.washingtonpost.com/archive/business/1997/11/10/solutions-incorporated/eab2f3f9-fce2-4c8c-9227-7ab6bba2790d/|url-status=live}}</ref>
+=== Public listing and continued growth ===
+In 1970, Booz Allen went public with an [[Initial public offering|initial offering]] of 500,000 shares at $24 per share. Trading continued through 1976.<ref name="library.hbs.edu">{{cite web|title=Booz, Allen & Hamilton, Inc. - Lehman Brothers Collection|url=http://www.library.hbs.edu/hc/lehman/chrono.html?company=booz_allen_hamilton_inc|access-date=2011-06-15|publisher=Library.hbs.edu|archive-date=2011-06-16|archive-url=https://web.archive.org/web/20110616203012/http://www.library.hbs.edu/hc/lehman/chrono.html?company=booz_allen_hamilton_inc|url-status=live}}</ref>
+In 2008, Booz & Company was spun off from [[Booz Allen Hamilton]], in conjunction with a private equity takeover by The [[Carlyle Group]].<ref name="Carlyle to Swallow Booz Unit">{{cite web |url=http://www.cfo.com/article.cfm/11394420/c_11393251?f=home_todayinfinance |title=Carlyle to Swallow Booz Unit |publisher=CFO.com |date=2008-05-16 |access-date=2011-10-26 |archive-date=2012-04-03 |archive-url=https://web.archive.org/web/20120403030014/http://www.cfo.com/article.cfm/11394420/c_11393251?f=home_todayinfinance |url-status=live }}</ref> At the time, Booz & Company consisted of the commercial portion of Booz Allen Hamilton's consulting business, as well as all consulting operations with government entitites outside the United States. After the spin-off, Booz Allen Hamilton then focused exclusively on U.S. government consulting endeavors. In 2011, however, when the three-year noncompete provision expired, Booz Allen Hamilton began building out its commercial consulting practice, focusing on technology integration and cybersecurity programs.<ref>{{cite news |url=http://www.bizjournals.com/charlotte/news/2011/10/26/booz-allen-expanding-in-charlotte.html |title=Booz Allen expanding in Charlotte |publisher=bizjournals.com |date=2011-10-26 |first=Will |last=Boye |access-date=2011-11-01 |archive-date=2011-10-28 |archive-url=https://web.archive.org/web/20111028222811/http://www.bizjournals.com/charlotte/news/2011/10/26/booz-allen-expanding-in-charlotte.html |url-status=live }}</ref>
+In 2009, Booz & Company purchased [[Katzenbach Partners]] for an undisclosed sum, and has since launched the Katzenbach Center, focused on the development and application of innovative ideas for organizational culture and change.<ref>{{cite news| url=https://www.wsj.com/articles/SB124052427593549995 | work=The Wall Street Journal | title=Booz to Buy Katzenbach Partners | date=23 April 2009 | first=Phred | last=Dvorak}}</ref>
+In 2012, Axon Advisory Partners joined the company to launch Booz Digital, a full-service team of strategists, designers and technologists who "help companies turn ideas into transformational digital businesses".<ref>{{cite news | url=https://finance.yahoo.com/news/axon-advisory-partners-joins-booz-130000145.html | work=Yahoo! Finance | title=Axon Advisory Partners Joins Booz & Company to Launch Booz Digital | date=11 December 2012 | first=Margaret | last=Kashmir | access-date=17 January 2017 | archive-date=5 March 2016 | archive-url=https://web.archive.org/web/20160305141557/http://finance.yahoo.com/news/axon-advisory-partners-joins-booz-130000145.html | url-status=live }}</ref>
+In April 2013, Booz & Company acquired international consulting firm Management Engineers for its operations expertise and experience in industries such as manufacturing, chemicals and industrials. Through the acquisition, Management Engineers added 17 partners and 145 staff to Booz & Company, along with a market position in Germany, as well as China, the UK and the US.<ref>{{cite news| url=https://finance.yahoo.com/news/booz-company-closes-acquisition-management-080500862.html | work=Yahoo! Finance | title=Booz & Company Closes Acquisition of Management Engineers | date=3 April 2012 | first=Margaret | last=Kashmir}}</ref>
-===Early Years===
-Booz & Company has had a hand in several notable private and public engagements throughout its years, such as advising on the breakup of [[Bell System|Ma Bell]] and helping organize the [[National Football League]] in the 1960s."{{Fact|date=June 2008}}
+=== Acquisition and rebranding ===
-=== Notable Contribution===
-Booz & Company has been internationally recognized by its knowledge work and have contributed to business society with new ideas. Booz & Company developed the concept of human capital in the 1940s, product life cycle in the 1950s, supply chain management in the 1980s, smart customization in the 1990s, and organizational DNA in the current decade.
+On October 30, 2013, Booz & Company announced it would be sold to [[PricewaterhouseCoopers]] as part of a conditional merger, pending regulatory approval and the vote of Booz partners scheduled for December 2013.<ref>{{cite web | last = Marcinek | first = Laura and Greg Farrell | title = PwC Agrees to Purchase Booz to Expand Advisory Services | publisher = Bloomberg | url = https://www.bloomberg.com/news/2013-10-30/pricewaterhousecoopers-to-merge-with-booz.html | date = 30 October 2013 | access-date = 3 November 2013 | archive-date = 2 November 2013 | archive-url = https://web.archive.org/web/20131102125151/http://www.bloomberg.com/news/2013-10-30/pricewaterhousecoopers-to-merge-with-booz.html | url-status = live }}</ref> Booz partners voted in favor on December 23, 2013,<ref>{{cite web|url=http://www.strategyand.pwc.com/global/home/press/displays/pwc-agreement|title=Global Consulting Firm Booz & Company Approves Combination with PwC|date=23 December 2013|work=pwc.com|access-date=7 March 2015|archive-date=5 February 2015|archive-url=https://web.archive.org/web/20150205075715/http://www.strategyand.pwc.com/global/home/press/displays/pwc-agreement|url-status=live}}</ref> and the deal was closed in early April 2014. The acquisition, and subsequent change of name from Booz & Company to Strategy&, was announced on April 4, 2014.<ref>{{cite web|url=http://www.strategyand.pwc.com/global/home/press/display/pwc-completes-booz-acquisition|title=PwC completes its acquisition of Booz & Company|date=3 April 2014|work=pwc.com|access-date=3 April 2014|archive-url=https://web.archive.org/web/20140406115003/http://www.strategyand.pwc.com/global/home/press/display/pwc-completes-booz-acquisition|archive-date=6 April 2014|url-status=dead|df=dmy-all}}</ref> The name, pronounced "Strategy and", was widely criticized, but was required by an agreement with former parent Booz Allen Hamilton that the Booz name or variants could never be used in conjunction with a new legal entity.<ref>{{cite web|url=https://blogs.wsj.com/corporate-intelligence/2014/04/03/introducing-strategy-no-thats-not-a-typo/|title=Introducing Strategy&: No, That's Not a Typo|author=Tom Gara|work=WSJ|access-date=2017-08-04|archive-date=2016-10-21|archive-url=https://web.archive.org/web/20161021174935/http://blogs.wsj.com/corporate-intelligence/2014/04/03/introducing-strategy-no-thats-not-a-typo/|url-status=live}}</ref>[[File:Strategy& Office Render.jpg|thumb|The firm operates in over 150 countries around the globe.]]
-==Organization==
-Booz & Company is privately held. The firm was once public in the 1970s.<ref>[http://www.boozallen.com/about/history/history_7 Booz Allen Hamilton - History of Booz Allen 1970s<!-- Bot generated title -->]</ref>, but the partners took the firm private again through one of the first [[management buyout]]s (MBO) to allow the firm to consider long-range investments that companies beholden to shareholders might not be able to make.<ref>[http://www.washingtontechnology.com/print/22_08/30651-1.html To counter scrutiny Booz Allen puts ethics first<!-- Bot generated title -->]</ref>
+== Corporate affairs ==
-==Competition==
+{{Expand section|Details on corporate structure, processes, leadership, financial results etc.|date=April 2022}}
-Booz & Company's major competitors are [[McKinsey & Company]], [[The Boston Consulting Group]], [[A.T. Kearney]], [[Monitor Group]] and [[Bain & Company]]. The firm also occasionally competes with specialist boutiques such as [[Roland Berger Strategy Consultants]]
-==Recruiting==
+=== Recruiting ===
+In 2007, Booz & Company had roughly 150,000 applicants and 1033 new jobs.<ref>{{cite web |title=100 Best Companies to Work For 2008: Booz Allen Hamilton snapshot - FORTUNE |url=https://money.cnn.com/magazines/fortune/bestcompanies/2008/snapshots/81.html |website=money.cnn.com |access-date=2020-08-03 |archive-date=2020-09-29 |archive-url=https://web.archive.org/web/20200929200410/https://money.cnn.com/magazines/fortune/bestcompanies/2008/snapshots/81.html |url-status=live }}</ref> Strategy& is the second largest recruiter at [[Columbia Business School]]<ref>{{cite web |title=Terms of Service Violation |url=http://www.businessweek.com/bschools/rankings/full_time_mba_profiles/columbia.html |archive-url=https://web.archive.org/web/20071106165431/http://www.businessweek.com/bschools/rankings/full_time_mba_profiles/columbia.html |url-status=dead |archive-date=November 6, 2007 |website=www.businessweek.com}}</ref> and the third largest recruiter at [[INSEAD]].<ref>{{cite web |title=Terms of Service Violation |url=http://www.businessweek.com/bschools/rankings/full_time_mba_profiles/insead.html |archive-url=https://web.archive.org/web/20071112121317/http://www.businessweek.com/bschools/rankings/full_time_mba_profiles/insead.html |url-status=dead |archive-date=November 12, 2007 |website=www.businessweek.com}}</ref>
-The Booz & Company global footprint spans six continents including much of Europe, the Americas, the [[Middle East]], Japan, Korea, and [[Greater China]].
-Booz & Company recruits candidates from top-tier business schools and universities, as well as from other corporations. The recruitment process is highly competitive and rigorous, and is typically a combination of case analysis and behavioral interviews.  Candidates must demonstrate academic excellence, personal and professional leadership, creativity and individuality, and superlative professionalism.
+The firm operates on a modified version of the [[Cravath System]], under which employees are promoted within a certain time frame or "counseled out".<ref name="washingtonpost.com" /><ref>{{cite web |title=Dr Maurice Roussety MBA |url=https://www.academia.edu/43775298 |website=www.academia.edu |access-date=2022-03-03 |archive-date=2024-05-03 |archive-url=https://web.archive.org/web/20240503075858/https://www.academia.edu/43775298 |url-status=live }}</ref>
-==Offices==
-===Europe (20)===
-Stuttgart, Munich, Frankfurt, Düsseldorf, Berlin, Zurich, Vienna, Milan, Rome, Amsterdam, Paris, London, Dublin, Madrid, Warsaw, Moscow, Oslo, Stockholm, Helsinki, Copenhagen.
+==Research==
-===North America (13)===
+Over the years, Booz has been credited with developing some of the important concepts in business. The firm coined the terms and developed the concepts of [[supply chain]], [[supply chain management]], [[product life cycle]], the [[PERT Chart]] and organizational DNA.<ref name="washingtonpost.com">{{cite web|url=https://www.washingtonpost.com/wp-dyn/content/article/2008/02/03/AR2008020302643.html|title=Should This Marriage Be Saved?|first=Zachary A.|last=Goldfarb|date=4 February 2008|via=www.washingtonpost.com|access-date=3 November 2017|archive-date=7 October 2017|archive-url=https://web.archive.org/web/20171007223343/http://www.washingtonpost.com/wp-dyn/content/article/2008/02/03/AR2008020302643.html|url-status=live}}</ref><ref>{{cite web|url=http://www.bloomgroup.com/content/how-booz-co-develops-and-markets-consulting-concepts|title=Inside the Marketplace of Ideas|website=www.bloomgroup.com|access-date=2010-04-14|archive-date=2010-09-23|archive-url=https://web.archive.org/web/20100923074813/http://bloomgroup.com/content/how-booz-co-develops-and-markets-consulting-concepts|url-status=live}}</ref>
-Mexico City, Los Angeles, San Francisco, Houston, Dallas, Atlanta, Chicago, Detroit, Cleveland, New York, Florham Park, Parsippany, McLean.
+The firm publishes the majority of its research 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''. Strategy& also publishes several studies annually:
-===South America (4)===
+* Study of [[CEO]]s, Governance, and Success:<ref>{{cite web|url=http://www.strategyand.pwc.com/global/home/what-we-think/chief-executive-study|title=2016 CEO Success study - PwC's Strategy&|website=www.strategyand.pwc.com|access-date=2015-05-13|archive-date=2015-07-01|archive-url=https://web.archive.org/web/20150701012458/http://www.strategyand.pwc.com/global/home/what-we-think/chief-executive-study|url-status=live}}</ref> examining CEO successions and success among the world's top 2,500 public companies. The organization's 26th annual global CEO survey, which accessed 4,410 CEOs, was published in January 2023.<ref>PWC, [https://www.pwc.com/gx/en/issues/c-suite-insights/ceo-survey-2023.html PWC's 26th Annual Global CEO Survey: Winning today’s race while running tomorrow’s] {{Webarchive|url=https://web.archive.org/web/20230502061655/https://www.pwc.com/gx/en/issues/c-suite-insights/ceo-survey-2023.html |date=2023-05-02 }}, published 16 January 2023, accessed 2 May 2023</ref>
-Rio de Janeiro, Sao Paulo, Buenos Aires, Santiago.
+* Global Innovation 1000:<ref>{{cite web|url=http://www.strategyand.pwc.com/innovation1000|title=2017 Global Innovation 1000 - Most Innovative Companies - PwC's Strategy&|website=www.strategyand.pwc.com|access-date=2015-05-13|archive-date=2015-04-16|archive-url=https://web.archive.org/web/20150416015404/http://www.strategyand.pwc.com/innovation1000|url-status=live}}</ref> a study of R&D investment at the 1,000 biggest-spending public companies in the world
+* Industry Perspectives:<ref>{{cite web|url=http://www.strategyand.pwc.com/industry-perspectives|title=Industry Trends - PwC's Strategy&|website=www.strategyand.pwc.com|access-date=2015-05-13|archive-date=2015-07-01|archive-url=https://web.archive.org/web/20150701012456/http://www.strategyand.pwc.com/industry-perspectives|url-status=live}}</ref> outlooks on major trends, challenges, and opportunities that companies can expect to see in different sectors
+The firm also regularly publishes cross-industry research related to its four major platforms: Capabilities-Driven Strategy, Deals, Digital, and Fitness for Growth.
+The Katzenbach Center at Strategy& has generated a research on the importance of fostering companies' [[informal organization]] to improve corporate performance. In a white paper entitled "Fast Track to Recovery"<ref>{{cite web |url=http://www.strategyand.pwc.com/media/uploads/Fast_Track_To_Recovery.pdf |title=Brochure |website=www.strategyand.pwc.com |access-date=2015-02-05 |archive-date=2015-02-05 |archive-url=https://web.archive.org/web/20150205075723/http://www.strategyand.pwc.com/media/uploads/Fast_Track_To_Recovery.pdf |url-status=live }}</ref> and the book Leading Outside the Lines,<ref>{{Cite web |url=http://www.leadingoutsidethelines.com/ |title = Leading Outside the Lines |archive-url=https://archive.today/20120906164910/http://www.leadingoutsidethelines.com/ |archive-date=6 September 2012 |url-status=dead}}</ref> Booz partner Jon Katzenbach uses various case studies to illustrate the exchange between the formal and the informal elements of organizations.
-===Middle East (5)===
-Cairo, Beirut, Riyadh, Abu Dhabi, Dubai.
-===Asia (6)===
+==See also==
+*[[Big Four accounting firms]]
-Hong Kong, Taipei, Shanghai, Beijing, Seoul, Tokio.
+*[[Management consulting]]
+*[[List of IT consulting firms]]
-==References==
+== References ==
 {{Reflist}}
+{{Consulting}}
-== External links ==
+{{Portal bar|Companies|United States}}
-*[http://www.booz.com/ Official Web Site]
+{{Authority control}}
+{{DEFAULTSORT:Strategyand}}
 [[Category:International management consulting firms]]
-[[Category:Privately held companies of the United States]]
+[[Category:Corporate subsidiaries]]
-[[Category:Companies established in 1914]]
+[[Category:Consulting firms established in 1914]]
-[[Category:Economics consulting firms]]
+[[Category:Macroeconomics consulting firms]]
+[[Category:1914 establishments in Illinois]]
+[[Category:Companies based in New York City]]
+[[Category:PwC]]
+[[Category:Strategy consulting firms of the United States]]
+[[Category:The Carlyle Group companies]]