MUMBAI: Boston Consulting Group, one of the top strategic management firms on Friday said that its global revenues have increased by 14% to touch $5.6 billion.
President and CEO Rich Lesser noted that 2016 capped three consecutive years of outstanding performance as the firm averaged strong double-digit annual growth that was broad based across all regions and practice areas. At the same time, the firm made very significant investments in its capabilities, BCG said in a statement.
“BCG’s continuous strong growth trajectory is a tribute to the talent of our people and the depth and quality of our long-term client relationships,” said Lesser. “These results also reflect major investments in building capabilities across our practices and particularly in digital, technology, and analytics.”
Lesser noted that growth in the firm’s digital activities—in innovation, transformation, and advanced analytics—as well as its abilities to support large-scale change in postmerger integration, transformation, and turnaround situations were key drivers of its momentum.
The firm launched BCG TURN, a new turnaround, restructuring, and transformation unit. BCG TURN helps clients deliver rapid, visible performance improvements in the short term while strengthening their organization and positioning them to win in the future. Combining the full strength of BCG’s established industry and functional expertise with special services, such as rapid diagnostics, turnaround program management, and large-scale cost reduction, it is a specialized offering for companies facing critical challenges or at points of discontinuity, such as a change in leadership or pressure from activist investors, the statement added.
“To drive transformative change, challenge the status quo, deliver enormous impact, and expand the boundaries of what is possible,” Lesser said in the statement. “For the next few years, our priorities will include continuing our relentless focus on value creation, deepening our expertise and capabilities, driving innovation in our client offerings and operating model, and attracting and retaining top talent with an emphasis on diversity of backgrounds and experiences. It’s also vital that we use these capabilities to make a positive difference in the world through our Social Impact and Public Sector practices,” he added.