...Bain & Company is an American global management consulting firm headquartered in Boston, Massachusetts. The firm provides advisory services to many of the world's largest businesses, nonprofit organizations, and governments.[1] Bain has 50 offices in 32 countries[2] and more than 6,000 employees. It is objectively considered one of the most prestigious management consulting firms in the world.[3] The new millennium began with Bain & Co. guiding its clients through managing the changes involved in the "New Economy". The economic slowdown following the dotcom boom was painful to all the major consulting players. In response, the firm invested in its leadership ranks with internal promotions and key external hires. Subsequently, the economic recovery has been followed by another period of sustained growth. In 2007, the firm expanded its global footprint to 37 offices, with office openings in Kiev, Moscow, Helsinki, and Frankfurt. The worldwide consulting headcount increased to approximately 2,700. Bain now has more offices in Europe than in any other region; the upshot of which being more revenue comes from its Continental operations than either the North American or Asian markets.[citation needed] With the company facing financial duress, Bain Capital partner Mitt Romney was asked to rejoin and lead Bain & Co. as interim CEO. Bringing along two lieutenants from Bain Capital, Romney began a traveling campaign to rally employees at all Bain offices globally. Romney...
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...Case Study – Organizational Development of Bain & Company July 2, 2012 Organizational Development of Bain & Company Bain & Co. Inc. (“Bain”) is a consulting corporation, established by Bill Bain and six former professionals from Boston Consulting Group (BCG) in 1973 to develop a strategy implementation that was markedly different from industry norms (Ormiston, 1990). According to Bill Bain, there were four problems he wanted to fix in the traditional consulting process specifically 1) short-term duration of projects with the report seen as the end product; 2) recommendations not supported by relevant data; 3) no follow-through on given recommendations and 4) performance metrics (i.e., Results of the recommendations) were mostly internal (peer reviews) not independent measures (Ormiston, 1990). Bain`s approach was to make a commitment to one company per sector/industry – refusing to work for competitors. In the 1990s, this strategy aided Bain in developing a deeper level of involvement with a limited number of clients. Sometimes, a customer had as many as fifty professionals working on all aspects of the business analysis (Harvard Business School Journal, 1990, pp. 95-96). The company de-emphasized the hype around the ‘report’, focusing instead on helping the client successfully execute policy recommendations. The results of these recommendations are judged by independent matrices such as the growth (or decline) of client`s stock prices when compared...
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...Hello, good morning everybody, I am Jason, I am very glad to analysis the survival strategies at work for you. To explore how employees survive the alienating tendencies at work by developing various coping strategies. In the analysis that follows, we are seeking to access the domain of the informal activities in work that normally hidden from the gaze of the outsider. It is the domain where the subjective experiences of individuals are collectively constructed and reconstructed to create shared understandings and develop norms that guide and pattern behavior. Now the analysis begins with a discussion of the extent to which work produces conditions of alienation for employees. This is followed by an examination of the way that employees may counter alienating tendencies through various creative strategies. And there are five survival strategies are explored: making out, fiddling, joking, sabotaging and escaping. Alienation Let’s start with alienation—it is freely used in the media and arises in everybody conversation. Here we have restricted the discussion to outlining two different perspectives on alienation. The first views alienation as an objective state, and builds on concepts originally defined by Karl Marx, while the second introduces elements of subjectivity into the analysis of alienation, and terms from a study by Robert Blauner. Alienation as an objective state Marx argues that alienation is an intrinsic part of the capitalist labour process, and the...
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...GLOBAL PRIVATE EQUITY REPORT 2013 About Bain & Company’s Private Equity business Bain & Company is the leading consulting partner to the private equity (PE) industry and its stakeholders. Private equity consulting at Bain has grown 13-fold over the past 15 years and now represents about one-quarter of the firm’s global business. We maintain a global network of more than 400 experienced professionals serving PE clients. Our practice is more than three times larger than that of the next-largest consulting firm serving private equity funds. Bain’s work with PE spans fund types, including buyout, infrastructure, real estate, debt and hedge funds. We also work with many of the most prominent limited partners (LPs) to PE firms, including sovereign wealth funds, pension funds, financial institutions, endowments and family investment offices. We support our clients across a broad range of objectives: Deal generation: We help PE funds develop the right investment thesis and enhance deal flow, profiling industries, screening companies and devising a plan to approach targets. Due diligence: We help funds make better deal decisions by performing diligence, assessing performance improvement opportunities and providing a post-acquisition agenda. Immediate post-acquisition: We support the pursuit of rapid returns by developing a strategic blueprint for the acquired company, leading workshops that align management with strategic priorities and directing focused initiatives. Ongoing value addition:...
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...Organization Studies http://oss.sagepub.com ‘Subterranean Worksick Blues’: Humour as Subversion in Two Call Centres Phil Taylor and Peter Bain Organization Studies 2003; 24; 1487 DOI: 10.1177/0170840603249008 The online version of this article can be found at: http://oss.sagepub.com/cgi/content/abstract/24/9/1487 Published by: http://www.sagepublications.com On behalf of: European Group for Organizational Studies Additional services and information for Organization Studies can be found at: Email Alerts: http://oss.sagepub.com/cgi/alerts Subscriptions: http://oss.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.co.uk/journalsPermissions.nav Citations http://oss.sagepub.com/cgi/content/refs/24/9/1487 Downloaded from http://oss.sagepub.com at SAGE Publications on July 31, 2009 1487 Authors name ‘Subterranean Worksick Blues’: Humour as Subversion in Two Call Centres Phil Taylor and Peter Bain Abstract Phil Taylor University of Stirling, UK Peter Bain University of Strathclyde, UK This article engages in debates stimulated by previous work published in Organization Studies, and more widely, on the purpose and effects of workers’ humour and joking practices. The authors emphasize the subversive character of humour in the workplace, rejecting perspectives which see humour as inevitably contributing to organizational harmony. Drawing on methodologies, including ethnography, which permitted...
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...all of its television stations. • The LBO came to the forefront and the Randalls met with private equity firms Blackstone and Providence Equity. Blackstone and Providence presented a bid as a consortium to buy Clear Channel for $34 per share. The independent board of directors swiftly rejected the price as they felt it was not adequate. Blackstone and Providence then indicated they might be willing to increase their bid to 35.50. Soon after private equity firms Thomas H Lee Partners expressed interest in bidding along with Bain Capital and TPG to form a competing consortium. Two more consortiums also had come together Apollo Management and the Carlyle Group, and Cereberus Capital Management and Oak Hill Capital Management. • Each consortium separately proposed a price of $ 36.50 per share. The board felt the bids were too similar to each other to choose and requested they improve their share price. In November 2006 the consortium of T.H. Lee and Bain Capital presented a bid of$ 37.60 which placed the enterprise value at 22 billion. • What else should they have done if anything to increase the offer price? In 2005 Clear Channel spun off 10 % of its CCO business and used the net proceeds from that sale to buy back shares. Rather than have done that to raise capital (although it was not the only reason for the spin...
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...Table of Contents Assignment – Part A 3 Section 1: 3 Section 2: 5 Assignment –Part B 7 Section 1: 7 Section 2: 8 References 10 Assignment – Part A Section 1 – Site Breakdown: The SCR website has been entered and reviewed with the following acknowledgement and understanding applicable to the corporate request conducted by Jesse: • The data library includes essential corporate information including personnel records within each subset identified below: o SCR Function and Organizations - This includes senior management, as well as existing groups with assigned personnel and, applicable objectives and missions associated with these groups. o SCR Training Records (2-months) - Shows training data with personnel contact information for past two month time period. o JAD Session Example - Outlines effective utilization and employment of JAD team members through correspondence and brainstorming of techniques and processes for efficiency honing. o Cost - Benefit Summary- Outlines potential impact associated with salaries, training, supplies and misc. in conjunction with earned revenue to establish baseline for potential profit achievements and ROI possibilities. o Sample of Questionnaire Results - Establishes sample questionnaire for students taking courses to include, top classes and applicable rating trends associated with classes achieved by instruction presenters...
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...The relevance of electronic technology in a person’s life is dependent upon age. If teenagers were asked what technology meant in their social group the majority would probably resonate replies of cell phones, computers, gaming consoles; electronic, wireless book readers, GPS and other handheld media and the social, instant access that’s implied. The vast majority of young to middle-aged adults may think of technology as a better means to keep in touch…most of the upper ages in this group can imagine life without a cell phone or home computer and traveling with a paper map. Undoubtedly, it is impossible to ignore technology. In-your-face examples are smattered everywhere the eye turns. Commercialization of personal devices has evolved to epic proportions. Outpourings of technology ads are on billboards, seen flashing on webpages, TV commercials display logos to “like” them on Facebook and “follow” them on Twitter. YouTube with user-content videos and popular online movie rental sites allow for endless viewing of video-recorded media. The overlooked aspect of technology is its function and subsequent consequences on society as a whole. To most, the words technology and computer conjure thoughts of the above-mentioned devices. However, Webster’s 1936 Dictionary defines technology and computer as industrial-applied sciences and a person who computes numbers, respectively. (It is important to keep in mind America’s demeanor at the time this definition was printed. She was...
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...Schwartz’s 10 values are driving the behavior of managers at Bain and Company, Home Depot and Best Buy. At Bain & Company they seem to be driven is driven by achievement and power. The CEO is using the downturn of the economy to “grab very talented people” Kreitner and Kinicki (2013). This means that people will be looking for work and may be willing to take a lower salary. They also show stimulation. Even though they are in the midst of downsizing they are still finding ways to expand, when people are new to a job they bring a wealth of excitement to that job. In the case of Home Depot it seems as if benevolence and universalism are being exhibited. The CEO Frank Blake tries to boost moral by lowering the sales and profit targets that hourly employees were to meet to receive bonuses. This was met with an unimaginable response when a higher amount of achievement by the staff than ever before was generated, here we see Security at play since there is a reciprocity (“You take care of me, I take care of you”). Home Depot appeals to the values tradition and security. Even though they downsized the number of employees, they made a huge effort to help the current employees. At Best Buy we see self- direction at work as the employees are part of the solution as they searched for ways together to cut cost. This act by the company shows appreciation for the contributions of the employees. This helps with employee morale, the employees feels apart of the team when the can contribute...
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...” said Rollins, “the key to our success is years and years of DNA development that is not replicable outside the company.” Added Michael Dell, “Culture plays a huge role.” They’re hardly alone in their belief that culture is at the heart of competitive advantage, particularly when it comes to sustaining high performance. Bain & Company research found that nearly 70% of business leaders agree: Culture provides the greatest source of competitive advantage. In fact, more than 80% believe an organization that lacks a high-performance culture is doomed to mediocrity. (See Figure 1.) At a time when enterprises can stretch around the globe, culture is the glue that holds a complex organization together. It inspires loyalty in employees and makes them want to be a part of a team. It motivates people to do the right thing, not just the easy thing. At companies with winning cultures, people not only know what they should do, they know why they should do it. Yet, while business leaders recognize culture’s crucial role, our research also indicates that fewer than 10% of companies succeed in building a winning culture. According to a Bain survey of 365 companies in Europe, Asia and North America, even those firms that manage to foster high-performance cultures often find them hard to sustain. The best companies succeed, we found, on two dimensions...
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...Burger King Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. Over the next half century, the company would change hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in BK in a deal valued at $3.26 billion (USD). The new owners promptly initiated a restructuring of the company to reverse its fortunes. The Burger King menu has evolved from a basic offering of burgers, French fries, sodas, and milkshakes in 1954, to a larger, more diverse set of product offerings. After knowing the good facts about burger king I wanted see where is burger king lacking behind. So I visited the burger king outlet which is inside the international plaza. The reason why burger king is lacking behind is because of its old store and with its old brand image. Every time when I visit burger king I never see the outlet cleaned it is always messy never saw good promotion outside the outlet to attract customers. The staffing of the burger king is not sufficient where people gather in a big hall of 50 packs. The hierarchy of the outlet should be changed. I saw that different staff position where doing the same work as if there is no respect...
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...has Dell been able to outperform its competition consistently over the past decade? Strategy, certainly. Operational discipline, without a doubt. Talented people, of course.But when asked in an interview with Harvard Business Review what best explains the company’sspectacular success over the years, Dell founder Michael Dell and CEO Kevin Rollins focused on something else.“While Dell does have a superior business model,” said Rollins, “the key to our success is years and years of DNA development that is not replicable outside the company.” Added Michael Dell, “Culture plays a huge role.” They’re hardly alone in their belief that culture is at the heart of competitive advantage, particularly when it comes to sustaining high performance. Bain & Company research found that nearly 70% of business leaders agree: Culture provides the greatest source of competitive advantage. In fact, more than 80% believe an organization that lacks a high-performance culture is doomed to mediocrity. At a time when enterprises can stretch around the globe, culture is the glue that holds a complex organization together. It inspires loyalty in employees and makes them want to be a part of a team. It motivates people to do the right thing, not just the easy thing. At companies with winning cultures, people not only know what they should do, they know why they should do it. Yet, while business leaders recognize culture’s crucial role, research also indicates that fewer than 10% of companies succeed...
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...The three presidential debates during this 2012 election were in the very least, good television. It is clear that these presidential debates do not accomplish much, but it is also clear that they can play a factor into the poll numbers. The debate at the University of Denver on domestic policy and the town meeting formatted debate at Hofstra University had similarities and vast differences and both certainly played a factor in the polls. In the world of politics, domestic policy can be defined as the most important issues to a nation, and the debate that the incumbent president must win. The debate was split into several 15 minute segments to discuss specific issues and by the second segment it became rather difficult to merely pay attention to what the President was saying. Having strong facts and evidence comes second to eloquence and style in these debates. President Obama was very withdrawn and lacked confidence as he was speaking the whole night. The President lacked eye contact with both the audience and Governor Mitt Romney as the governor spoke and would instead look down at the podium. From purely auditory and visual perspectives, Romney was bold and confident while Obama was weak and awkward. The moderator of this debate, Jim Lehrer, for the most part made sure to stay unbiased. Lehrer, however, did a rather poor job of managing the time allotted for both candidates to speak. In fact, there were times during the night in which we might as well have not had a moderator...
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...Description Enterprise Risk Management (ERM) is an approach to making strategic and business decisions after considering major risks and opportunities. Originally focused simply on managing the losses and downside, ERM now is also used to help companies decide between alternative business lines and strategic growth options. Companies are using the tool to take a more valuefocused (rather than loss-focused) approach to risk management amid increasing volatility and uncertainty. ERM considers everything from credit risk to operational and supply chain risk. ERM examines decisions through a risk lens, identifying creative approaches to succeed in a world of uncertainty. To build an Enterprise Risk Management system, all parts of the organization contribute vital perspectives: • Senior executives determine the level of risk a company is willing to take. They express their risk appetite in concrete terms such as earnings volatility and potential losses of capital, equity or assets; • The risk organization, in cooperation with line managers, continuously examines the potential impact of various risks (e.g., strategic, business, financial and operational risks) on the organization. They decide whether to avoid the exposure completely, effectively mitigate it (for example, through a transfer to another party) or use the company risk insight and risk management capabilities as an opportunity to generate extra profit from the exposure; • Line managers embed risk management principles...
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...During my free time I have mian hobbies I enjoy doing. I may not be the only person that enjoys these things because they are very common.These may seem like ordinary or even boring to other people but, I love reading, drawing, and developing my relationship with God. I love reading because I can go on adventures I never dreamed of before.My favorite types of books to read are mystery books because they keep me intrigued.Two of my favorite authors are Carolyn Keen, and Donald Bain. Carolyn Keene wrote the Nancy Drew book series, and this was the set of books that got me interested in reading mystery books.Donald Bain is one of my other favorite mystery writers. He wrote the Murder She Wrote series. There's also a tv show about the Murder She Wrote book series. There are some other people I like too such as R.L Stine with the Goosebumps series. No matter who writes the book or what type it is I would...
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