346 Posts found for Source: Boston Consulting Group (BCG)

As business grows ever more digital—as virtual relationships increasingly become the norm in the post-COVID reality, stakeholder trust becomes as crucial as product or service quality. Nowhere is this truer than in business ecosystems, those dynamic alliances of largely independent economic entities that create products or services that constitute a coherent solution. Ecosystems depend on well-functioning networks of buyers, sellers, and various other parties in … [ Read more ]

Content: Article | Authors: François Candelon, Marcos Aguiar, Matthew Williams, Niklas Knust, Santino Lacanna, Ulrich Pidun | Source: Boston Consulting Group (BCG) | Subject: Management

Trust, we instinctively realize, is a precious quality that binds relationships, and nowhere more so than in business ecosystems. It’s foundational, but also fragile because all the participants in an ecosystem must learn to work with, and rely on, each other, knowing that no external force compels them to do so. Mutual trust, as much as mutual interest, binds business ecosystems.

Yet few business leaders focus … [ Read more ]

Content: Article | Authors: François Candelon, Marcos Aguiar, Niklas Knust, Santino Lacanna, Ulrich Pidun | Source: Boston Consulting Group (BCG) | Subjects: Business Model, Strategy

What are the most important issues to focus on when you embark on a business transformation? Ask ten executives, and you’ll get ten different answers. In the critical first 100 days, there are many considerations to weigh, decisions to make, and actions to take—and their timing and sequence can be as instrumental to success as the moves themselves.

So how do you ensure the company is … [ Read more ]

Content: Article | Authors: David Kirchhoff, Davide Urani, Hans Gennen, Katharina Bergmann, Michael Lutz, Reinhard Messenböck | Source: Boston Consulting Group (BCG) | Subject: Change Management

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Every enterprise is finding that its space for business as usual is increasingly constrained by the planet’s environmental limits, by broader social and economic needs, and by rising stakeholder demands. Consequently, in addition to addressing all the traditional factors defining competition, company strategies now need to explicitly confront the dynamic socio-environmental externalities of the business. From their impacts on climate to the communities where they … [ Read more ]

Content: Article | Authors: David Young, Marine Gerard, Martin Reeves | Source: Boston Consulting Group (BCG) | Subject: Social Responsibility (ESG)

A great deal of noble and important work has been done on DEI in recent years, but we have hit a ceiling.

Content: Article | Authors: Gabrielle Novacek, Jean Lee, Matt Krentz | Source: Boston Consulting Group (BCG) | Subjects: Diversity, Human Resources, Organizational Behavior

We have argued that corporations should Optimize for Both Social and Business Value, using their core businesses to deliver the financial returns expected by their owners and, in tandem, to help society meet its most significant challenges. To do so, we suggest that leaders reimagine corporate strategy by creating new modes of differentiation, embedding societal value into products and services, reimagining business models for sustainability, … [ Read more ]

Content: Article | Authors: David Young, Martin Reeves | Source: Boston Consulting Group (BCG) | Subjects: Business Model, Social Responsibility (ESG), Strategy

BCG identifies six dimensions of environmental and societal impact, all with implications for employees and for external stakeholders, including investors, customers, suppliers, and society.

Content: Article | Authors: David Young, Marine Gerard | Source: Boston Consulting Group (BCG) | Subjects: Business Model, Social Responsibility (ESG)

How can companies assess which business model changes will enable the company to become genuinely more resilient and sustainable over time? We believe our insights from researching Sustainable Business Model Innovation (SBM-I) can help answer that question. Crossing all industries and geographies, our research analyzed more than 100 business models through which companies delivered both business value and environmental and societal benefits. We tested each … [ Read more ]

Content: Article | Authors: David Young, Marine Gerard | Source: Boston Consulting Group (BCG) | Subjects: Business Model, Social Responsibility (ESG)

In our research, we have studied more than 100 cases of companies that are practicing what we call “Sustainable Business Model Innovation” (SBM-I). We have found that the most advanced of these companies, the “front-runners,” combine environmental, societal, and financial priorities to re-imagine their core business models and even shift the boundaries of competition. The core practice for SBM-I is an iterative 4-step innovation cycle. … [ Read more ]

Content: Article | Authors: David Young, Marine Gerard | Source: Boston Consulting Group (BCG) | Subjects: Business Model, Strategy

Each [change] leader should be assessed for past performance, current readiness, and future potential across four dimensions: knowledge, soft skills, experience, and motivation and personality traits. Leaders also must have a foundation in adaptability and change leadership. A shortcoming in any one of these can be a warning sign.

However, the right leaders will fill roles in varying ways throughout the journey, from champion of the … [ Read more ]

Content: Quotation | Authors: Jim Hemerling, Lars Faeste, Martin Reeves, Perry Keenan | Source: Boston Consulting Group (BCG) | Subjects: Change Management, Leadership

Behind all financial failures is organizational failure.

Content: Quotation | Source: Boston Consulting Group (BCG) | Subjects: Management, Organizational Behavior

Before the start of any project, management needs to clarify whether the product development plan will follow a radical or conventional approach. Products that involve both new technology and a new market are certainly radical, but categorizing those that involve only new technology or a new market will require judgment. Leaders need to factor in their organization’s innovation expertise. Most breakthrough products that are truly … [ Read more ]

Content: Quotation | Authors: Andreas Maurer, David Küpper, Kim Wagner, Markus Lorenz | Source: Boston Consulting Group (BCG) | Subject: Innovation

Creating a great culture, finding the right people, managing them to do great things, and solving problems creatively and systematically are challenges faced by all organizations. What differentiates [organizations] is how they approach these challenges.

Content: Quotation | Source: Boston Consulting Group (BCG) | Subjects: Culture, Management, Organizational Behavior

The effectiveness of a company’s problem solving, as measured along the dimensions of cost, speed, and accuracy, is influenced by five elements: strategy (that is, the core of the company’s problem-solving approach, which drives decisions about the other elements), framing, data selection, choice and implementation of a solution method, and selection of problem solvers. Classical enterprises typically lack a strategy for problem solving. They try … [ Read more ]

Content: Quotation | Authors: Jussi Lehtinen, Martin Reeves | Source: Boston Consulting Group (BCG) | Subjects: Management, Organizational Behavior, Problems / Solutions

Success in the past always becomes enshrined in the present by the over-valuation of the policies and attitudes which accompanied that success.

Content: Quotation | Author: Bruce D. Henderson | Source: Boston Consulting Group (BCG) | Subjects: Organizational Behavior, Success / Failure

We found no consistent correlation between marketing spending as a percentage of dollar sales and either marketing impact or ROMI. Brands that spent more on marketing as a percentage of dollar sales (that is, 30 to 35 percent rather than 20 to 25 percent) did not drive more volume, but they did realize lower returns on their investment. We therefore conclude that spending as a … [ Read more ]

Content: Quotation | Source: Boston Consulting Group (BCG) | Subject: Marketing / Sales

The process of identifying and prioritizing stakeholders by their level of support for the change effort and their degree of influence in the organization promotes targeted engagement. We find that in many cases, influential supporters are underleveraged and skeptics underengaged. Effective stakeholder engagement sees business leaders arming influential supporters as change agents, giving them the information and messages they need to influence the organization. At … [ Read more ]

Content: Quotation | Authors: Huib Kurstjens, Kimberly Powell, Massimo Busetti, Michael Shanahan, Mike Lewis, Perry Keenan | Source: Boston Consulting Group (BCG) | Subject: Change Management

The context for make-or-buy decisions has become more dynamic, as manufacturers face dramatic swings in demand and the relative costs of sourcing locations. To maximize their resilience and value creation, leading manufacturers use a scenario-based approach to assess the implications of a broad array of sourcing decisions simultaneously.

Content: Article | Authors: Claudio Knizek, Daniel Küpper, Daniel Spindelndreier, Michael Zinser | Source: Boston Consulting Group (BCG) | Subjects: Management, Operations, Outsourcing / BPO, Strategy

Joint ventures can be an effective way to enter new markets, gain expertise, increase production capabilities, and expand distribution. Given these potential benefits, it’s no wonder that these partnerships have regained popularity. But despite their advantages, they often fail to deliver value. BCG’s research into what it takes to succeed revealed eight important lessons.

Content: Article | Authors: Alex Dolya, Alexander Roos, Dinesh Khanna, Gaurav Nath, Nikolaus Lang, Sharad Verma, Tawfik Hammoud | Source: Boston Consulting Group (BCG) | Subjects: Management, Mergers & Acquisitions, Strategy