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===Early Years=== |
===Early Years=== |
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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."{{ |
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}} |
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=== Notable Contribution=== |
=== Notable Contribution=== |
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Revision as of 10:02, 11 June 2008
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| Company type | Partnership |
|---|---|
| Industry | Management consulting |
| Founded | 1914 |
| Headquarters |  New York City, New York |
Key people | Joe Saddi, Chairman Shumeet Banerji, CEO |
| Products | Management consulting services, including strategy, private equity, operations, mergers & acquisitions, technology and organization |
| Revenue | US$ 1.0 billion in 2007 |
Number of employees | 3,200 employees worldwide |
| Website | www.booz.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.
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.
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."[1]
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.[2] This theory developed into a new profession — management consulting — and the firm that would bear his name.
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 Ma Bell and helping organize the National Football League in the 1960s."[citation needed]
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.
Organization
Booz & Company is privately held. The firm was once public in the 1970s.[3], but the partners took the firm private again through one of the first management buyouts (MBO) to allow the firm to consider long-range investments that companies beholden to shareholders might not be able to make.[4]
Competition
Booz & Company's major competitors are McKinsey & Company, The Boston Consulting Group and Bain & Company. The firm also occasionally competes with specialist boutiques such as Monitor Group, Roland Berger Strategy Consultants or diversified consulting firms such as A.T. Kearney.
Recruiting
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.