Swot analysis for management consulting

In Depth SWOT Analysis

Focus of the Final Project

Select an organization and prepare a strategic plan to grow the business over the next three years. Your strategic plan must include the following:

Ø Please read the teacher comments on the paper titled Boston Consulting Group SWOT Analysis. You can use that paper as the basis for the final paper. It cannot be used word for word.

Ø Please read and follow the tips outlined on the document titled IMPORTANT: Tips for Final Paper. The paper must be in depth.

· Describe your organization’s history, products, and major competitors.

· Explain the current situation of the organization in the market.

· Conduct a SWOT analysis (strengths, weaknesses, opportunities and trends) to determine areas that offer opportunities for change.

· Choose at least three areas from your SWOT analysis and explain why the areas you have chosen are essential to your strategic plan. Use theories and examples from your text and additional sources to support your rationale.

· Explain your method to measure the success of your strategic plan.

Your paper must be eight pages in length (excluding the title and reference pages) and formatted according to APA style guidelines. In addition, you must use at least three scholarly sources, in addition to the text. Remember to incorporate information that you have learned from this course as well as your personal experience.

The Final Project:

· Must be eight double-spaced pages in length and formatted according to APA style.

· Must include a title page with the following:

o Title of paper

o Student’s name

o Course name and number

o Instructor’s name

o Date submitted

· Must include an introductory paragraph with a succinct thesis statement.

· Must address the topic of the paper with critical thought. If possible, provide the context of a first-person experience where you saw this academic concept in operation.

· Must conclude with a restatement of the thesis and a conclusion paragraph.

· Must use APA style as outlined.

SWOT ANALYSIS 2

Boston Consulting Group SWOT Analysis

Reginald. A. Whimbush

Dr. Fireside

MGT450: Strategic Planning for Organizations

January 22, 2018

Teacher feedback for this paper:

This is great work. My feedback here is focused on the final, see the Announcements for the exact format.

The goal of a strategy format is to deeply recognize characteristics of each SWOT level with informed research, academic support or industry examples for your analysis that includes data, then building a narrative for the change or effort you are suggesting, and then by using methods presented in this course building a strategy that can be compiled and used by organization leadership.

Boston Consulting Group

Founded in 1963, Boston Consulting Group (BCG) is among the top management consulting services companies globally. Headquartered in Boston, Massachusetts, and founded by Bruce D. Henderson, BCG that began as a management and consulting division of Boston Safe Deposit now offers a range of services to solve clients’ hardest problems. It offers services such as marketing and sales, innovation and product development, corporate development and growth, technology and digital, and strategy among others to a number of industries from automotive to insurance to tourism to energy among others. The company operates in Asia Pacific, Africa, Middle East, North, South, and Central America, and Europe (bloomberg.com, 2018).

BCG a world leading consulting firm has grown from its culture, innovation, and thought leadership. Through its dynamic and supportive teams the company strives to unlock its clients and employees potential. It has over 80 offices in 45 countries with the aim of putting consultants in local markets to serve all clients globally. Its competitors are McKinsey & Company and Bain & Company that was started by ten employees of BCG in 1973 as an experiment that turned successful (managementconsulted.com, n.d).

BCG’s SWOT Analysis

SWOT analysis is simply analyzing a company’s strengths, weaknesses, opportunities and threats. Weaknesses and strengths are part of an internal analysis that illustrate a company’s capabilities or expertise and areas it needs to improve in respectively while threats and opportunities are part of an external analysis of a company that influences its profitability and growth (Abraham, 2012).

Strengths

Some special expertise or capabilities of BCG that have enhanced it success include it’s investment in its employees, expansion into different market globally, and maintenance of a good brand name. BCG employs staff from diverse backgrounds, with a range of experiences and interests that give it the unique ability to approach client problems and identify novel solutions that lead to transformative change. Through its diverse employee pool and strong inclusive staff culture, the company better understands clients’ problems and finds them lasting solutions. The company is classified among the best companies to work for because of its great benefits, flexibility, and learning opportunities among others. The company provides generous employee benefits ranging from flexible working hours to comprehensive health care coverage to dedicated training sessions among others. For instance, the company invests $80M yearly in Learning & Development (L&D) to enhance growth through training. An employee at the company receives $200K in L&D investment throughout his career course (greatplacetowork.com, 2017). The company has a good brand name, its present in over 45 countries, and has received several awards for its consulting services.

Weaknesses

There are a number of consulting firms that has led to stiff competition among firms offering management consulting services limiting market share. BCG has not penetrated international markets like McKinsey & Company and other competitors. BCG has not diversified its business areas but greatly relies on management consulting services which are quite risky due to entry of new firms or clients finding ways to solve their issues.

Opportunities

Management consultants are valuable to other organizations as they provide them with unique expertise that facilitates their operations and response to changing environment. Many organizations lack innovation and speed to respond to clients providing a rich opportunity for consulting firms like BCG to offer problem-solving skills (Srinivasan, 2014). BCG can diversify its business areas rather than stick to one strategy. The company can acquire smaller firms to strengthen its presence in other international markets. BCG can use digital technologies that enhance more efficient operations allowing for greater innovation. Innovation means a better understanding of customer needs and ways to effectively address their needs.

Threats

The management consulting industry tends to be highly fragmented with a number of consulting firms including independent consultants that increase competition and reduce market share for BCG. Since the marketplace is competitive, attracting top talent remains a challenge. This means that BCG must invest a lot in its employees to minimize employee turnover and recruit top talent. Entry of new players and the ability for clients to solve their own problems could lead to decreased returns for BCG. For instance, entry of specialized niche consulting firms and technology consultants such as IBM’s service can influence BCG’s returns (Christensen et al, 2013).

BCG is a leading management consulting firm that is well established. The company values its stakeholders including its employees’ which is evident from the awards it has received for being a best working place. The SWOT analysis on BCG indicates that the company is on the right track to sustained success. However, it needs to improve on the identified weaknesses such as increase penetration to other markets globally and diversify its business due to the stiff competition in the industry.

References

Abraham, S. C. (2012). Strategic Management for Organizations. San Diego, CA: Bridgepoint Education, Inc.

Bloomberg. (2018, January). Company Overview of The Boston Consulting Group, Inc.

Retrieved from Bloomberg: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=135794.

Christensen, C. M., Wang, D., & Bever, D. (2013). Consulting on the Cusp of Disruption.

Harvard Business Review.

Great Place to Work. (2017). The Boston Consulting Group, Inc. Retrieved from Great Place to

Work: http://reviews.greatplacetowork.com/the-boston-consulting-group-inc.

Management Consulted. (n.d). BCG’s Legacy of Creativity. Retrieved from

managementconsulted.com: https://managementconsulted.com/consulting-interviews/bcg-interview-101/.

Srinivasan, R. (2014). The Management Consulting Industry. IIMB Management Review, 26(4),

pp:257-270.