OD Application: Bain & Co.' Bain & Co, a management consulting firm founded by Bill Bain in 1973, is one of the major consulting firms worldwide. Bain consultants have worked with more than 4.150 major corpora tions in all parts of the world and in virtually every industry. It has more than 3.500 people in 39 offices in 26 countries. Bain con sultants work with governments and businesses alike. Industry sectors that Bain works with include retail, financial services, medical, entertainment, technology and environmental services. The firm's clients have included the governments of Japan and Korea. It also provides pro bono consulting services to non- profit organizations, such as The Boys and Girls Clubs of Amer ica, to help them with their growing needs, and the Business Action on Homelessness in London to increase the help from businesses to tackle the homeless problem. An independent ven ture that Bain has helped to create is the Bridgespan Group, a nonprofit group dedicated to serving the nonprofit sector. Bain's former CEO, Tom Tierney, quit his job at Bain and helped estab- lish the Bridgespan Group, and now heads it up for no pay. Its clients include the Bill and Melinda Gates Foundation and the Packard Foundation In 1973, William W. "Bil" Bain created a new type of management consultant role-a quasi insider who is privy to the client's secrets and works directly with the CEO and others in top management to implement the strategy Bain & Co. was founded on the principle that consultants must measure their success in terms of their client's financial results." Bill Bain is known as the creator of "relationship consulting. The consult ants build their business on the close relationship they develop with clients. Bain focuses on the total system and on the prof itability of the entire organization. Such knowledge demands lots of data gathering and a great deal of time for analysis. Bain consultants insist on working directly with the chief executive because they feel that the CEO is the key to a firm's success. Bain is known for the shrewd, suave people it employs. The Bain consultant tends to be articulate, meticulously groomed, well mannered, and exceedingly charming. Bain employees are notoriously secretive about their organization and their clients, and dedicate themselves to improving their customers competitive position. Business is a war their clients must win. Other consultants may come in and study a situation, write up a report with recommendations, and then leave. This is not Bain's approach. Bain consultants work collaboratively with the client to study define, and assist in the implementation of the so lution. And because Bain consultants have experience working with such a wide group of dients, they tend not to have the tun- nel vision that too often afflicts employees within an organization The company CEOs may know their organization and their industry, but may not be able to bring in new ideas from across a multitude of industries and countries. Bain helps its clients to make the big decisions in areas of strategy organization, opera tions, technology and mergers and acquisitions. Though Bain does not make the decisions, its consultants serve as a catalyst to help in the process According to Bain, some of the things that make this con sulting company unique are . It rejects the old advice model to focus on strategy and im plementation . It is forthright with the client even if it is not what man agement wants to hear . It uses clear communications and no jargon. Its consultants work well with people at all levels. . It accepts equity in lieu of fees to align incentives with dient results. Bain prospers only if the clients prosper Questions 1. Do you agree with the relationship consulting approach? 2. Visit Bain's Web site (www.bain.com) and explore the firm's current approaches to consulting 3. Contrast the approach of a company trying to solve its own problems versus bringing in outside consultants 4. What are the pros and cons of the external versus internal consultants? OD Application: Bain & Co.' Bain & Co, a management consulting firm founded by Bill Bain in 1973, is one of the major consulting firms worldwide. Bain consultants have worked with more than 4.150 major corpora tions in all parts of the world and in virtually every industry. It has more than 3.500 people in 39 offices in 26 countries. Bain con sultants work with governments and businesses alike. Industry sectors that Bain works with include retail, financial services, medical, entertainment, technology and environmental services. The firm's clients have included the governments of Japan and Korea. It also provides pro bono consulting services to non- profit organizations, such as The Boys and Girls Clubs of Amer ica, to help them with their growing needs, and the Business Action on Homelessness in London to increase the help from businesses to tackle the homeless problem. An independent ven ture that Bain has helped to create is the Bridgespan Group, a nonprofit group dedicated to serving the nonprofit sector. Bain's former CEO, Tom Tierney, quit his job at Bain and helped estab- lish the Bridgespan Group, and now heads it up for no pay. Its clients include the Bill and Melinda Gates Foundation and the Packard Foundation In 1973, William W. "Bil" Bain created a new type of management consultant role-a quasi insider who is privy to the client's secrets and works directly with the CEO and others in top management to implement the strategy Bain & Co. was founded on the principle that consultants must measure their success in terms of their client's financial results." Bill Bain is known as the creator of "relationship consulting. The consult ants build their business on the close relationship they develop with clients. Bain focuses on the total system and on the prof itability of the entire organization. Such knowledge demands lots of data gathering and a great deal of time for analysis. Bain consultants insist on working directly with the chief executive because they feel that the CEO is the key to a firm's success. Bain is known for the shrewd, suave people it employs. The Bain consultant tends to be articulate, meticulously groomed, well mannered, and exceedingly charming. Bain employees are notoriously secretive about their organization and their clients, and dedicate themselves to improving their customers competitive position. Business is a war their clients must win. Other consultants may come in and study a situation, write up a report with recommendations, and then leave. This is not Bain's approach. Bain consultants work collaboratively with the client to study define, and assist in the implementation of the so lution. And because Bain consultants have experience working with such a wide group of dients, they tend not to have the tun- nel vision that too often afflicts employees within an organization The company CEOs may know their organization and their industry, but may not be able to bring in new ideas from across a multitude of industries and countries. Bain helps its clients to make the big decisions in areas of strategy organization, opera tions, technology and mergers and acquisitions. Though Bain does not make the decisions, its consultants serve as a catalyst to help in the process According to Bain, some of the things that make this con sulting company unique are . It rejects the old advice model to focus on strategy and im plementation . It is forthright with the client even if it is not what man agement wants to hear . It uses clear communications and no jargon. Its consultants work well with people at all levels. . It accepts equity in lieu of fees to align incentives with dient results. Bain prospers only if the clients prosper Questions 1. Do you agree with the relationship consulting approach? 2. Visit Bain's Web site (www.bain.com) and explore the firm's current approaches to consulting 3. Contrast the approach of a company trying to solve its own problems versus bringing in outside consultants 4. What are the pros and cons of the external versus internal consultants