Innovation at the Boston Consulting Group Harvard Case Solution & Analysis

Innovation at the Boston Consulting Group Case Solution

Question 1

In every aspect, new ideas always contribute to the development of the economy, business, as well as society. The need to consider such factors are the positive impact over the economic development within a country that can overcome the inflation rate, as well as currency fluctuations due to the growing phase of business and society. This can also help to increase the GDP as well as CPI of the country and to reduce the tax as well as interest element in order to increase the profitability of the companies.

In the case of management consultancy, the market is still in a growing phase where only three players are enjoying the market shares and profits over the use of the products as well as services. Therefore, it is still expected that the market is still not efficient because these players are considered monopolistic competitors who set the prices and policies on their own terms. The fiscal policy indicates that the economy is not an established one, where the perfect competition is not playing its role. This means that this industry is not achieving the desired results as compared to other perfect competitive industries.

Question 2

As discussed in the case, most innovative ideas were provided from client work due to the practical implementations from different client’s services within a particular industry. Excluding the demand of clients work, the new sources of ideas would also be elaborated through different resources such as, hiring independent consultants to generate dozens of new ideas to improve brand image as well as reputation of the company. This would help to analyse the potential company’s success due to different results associated with each idea.

The second thing to consider for providing the ideas with different sources would be to allow every participant to involve in the company to conclude different proposals for implementing the company’s future success, instead of focusing on the structured clients work as well as forums.

This would allow to initiate the different mind-sets and to conclude with the most suitable nominee to implement the new idea. Under this plan, clients, employees, and outside consultants should participate in the meetings held every quarter in order to maintain the company’s reputation of strong culture as well as traditional innovative solutions.

Question 3

There were various strengths in the company’s ability to adopt the innovative culture. The first strength of the company was the formal centralized research lab contributed to the success of the company’s innovative culture. Second strengths of the company is its expansion and participation of various consultants as well as clients in the future performance of the company.

On the other side, senior advisors were involved in a role to extract the new ideas into the practical phase through the use of teams under the case. This chain has made the company sufficiently strong to maintain a position among big three consulting groups. With more unique process, the company was able to implement more innovative ideas to improve company’s brand and reputation.

In contrast to that, some limitations hindered some of the opportunities that should be implemented to grow the company’s performance. The first limitation was not allowing every individual participant to share the ideas in order to implement. This type of centralized structure damaged the ability for each individual to grow in the business through sharing his or her particular ideas.

The second limitation was the restricted policies of the newly structured research lab, which did not allow to implement company’s culture, however, a bundle of individual ideas would be considered in a future growth strategy. Therefore, such principles and policies damaged most of the internal evaluation of Boston consulting group................

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