Global management consulting firm founded in 1963.
Global management consulting firm founded in 1963.
Boston Consulting Group, Inc. (BCG) is a prominent American consulting firm established in 1963. It is part of the Big Three consulting firms and is currently led by Christoph Schweizer.
Boston Consulting Group (BCG) was founded on July 1, 1963, with a mission to pioneer bold and innovative approaches to make a positive impact on the world. Since then, BCG has been dedicated to fulfilling this ambition every day.
1964
Introduction of Perspectives Series by BCG
In 1964, Bruce Henderson developed the Perspectives series, a new approach to marketing a consulting firm, consisting of brief and highly provocative essays on strategy. These essays were published in a user-friendly brochure format, making them easily accessible to executives.
1965
Introduction of 'business strategy' as a specialty
In the fall of 1965, Henderson announced the need for a specialty to distinguish his consulting unit. He proposed 'business strategy' despite objections, aiming to define and focus on long-term corporate strategy.
1966
Introduction of the Experience Curve
In 1966, Henderson introduced the 'experience curve' tool, which stated that unit costs decrease as a company gains production experience. This concept allowed Texas Instruments to lower costs and outbid competitors.
1967
Bain joins BCG
In 1967, despite his lack of basic business knowledge, Bain joined the Boston Consulting Group (BCG) after being offered a job by Henderson. He quickly advanced within the company due to his hard work and attention to detail.
1968
Formation of Boston Consulting Group (BCG)
In 1968, Henderson's consulting unit at Boston Safe Deposit became a subsidiary named Boston Consulting Group (BCG). The company started growing rapidly and expanding its consultant base.
1969
BCG surpasses McKinsey as top recruiter at Harvard
In 1969, BCG gained attention by surpassing McKinsey as the top recruiter at Harvard Business School through aggressive recruiting tactics, marking a significant milestone in the firm's growth.
1970
BCG reaches 100 consultants with global offices
By 1970, BCG had expanded to 100 consultants with offices in Boston, Milan, Tokyo, and London, establishing a strong foundation for its global presence and competition with McKinsey.
1972
BCG's Expansion to Paris
In 1972, Boston Consulting Group (BCG) expanded its operations to Paris, further solidifying its presence in the European market. This expansion was a strategic move for the company.
1973
Formation of Bain & Company by Bill Bain
In 1973, Bill Bain left his position at BCG to establish Bain & Company, becoming the third major player in the MBB consulting group. The departure led to a significant shift in the management consulting industry.
1974
Independence of Boston Consulting Group
In 1974, Boston Consulting Group (BCG) achieved independence through an employee stock ownership plan, marking a pivotal moment in the firm's history.
1975
BCG Becomes Independent Entity
In 1975, BCG bought itself out from the Boston Company and became an independent entity, owned in trust for the benefit of its employees. Founder Bruce Henderson made an unprecedented move by handing over all but approximately 5% of the company to ensure the partnership leave BCG stronger for the next generation.
1977
BCG achieves equal revenue split between U.S. and overseas business
By the end of 1977, Boston Consulting Group's revenues were evenly split between business originating in the United States and overseas.
1979
BCG Becomes Independent from The Boston Safe Deposit and Trust Company
In 1979, BCG completed a buyout of all shares, becoming independent from The Boston Safe Deposit and Trust Company, a crucial step in its corporate history.
1980
Alan Zakon becomes CEO of BCG
In 1980, Henderson gracefully stepped down as Chairman of the Board and Alan Zakon took over as CEO of BCG. The firm also started the first Associate class, hiring college grads for a 2-3 year term.
1985
John Clarkeson becomes BCG's CEO
In 1985, Henderson retired and BCG's 3rd CEO, John Clarkeson, took over the leadership of the firm.
1987
Establishment of BCG's First Practice Areas
In 1987, Boston Consulting Group (BCG) defined its first practice areas, marking a significant organizational change. This move laid the foundation for the firm's structured approach to consulting services.
1990
Acquisition of Pappas, Carter, Evans & Koop
In 1990, BCG acquired the Australian consulting firm of Pappas, Carter, Evans & Koop, expanding its presence in Sydney, Melbourne, Australia, and Auckland, New Zealand.
1991
Expansion with Holt Planning Associates Acquisition
BCG completed the acquisition of Holt Planning Associates in 1991, while also opening new offices in Frankfurt and Hong Kong.
1992
Office Opening in Kuala Lumpur
In 1992, BCG opened an office in Kuala Lumpur, Malaysia, expanding its global reach.
1993
Surpassing 1,000 Consultants Milestone
BCG achieved a significant milestone in 1993 by surpassing 1,000 consultants employed, indicating its growth and influence in the consulting industry.
1994
Expansion to Dallas, Hamburg, Moscow, Bangkok, and Seoul
In 1994, BCG expanded its operations by opening offices in Dallas, Hamburg, Moscow, Bangkok, and Seoul, responding to the increasing demand for its services.
1995
Establishment of Branches in Atlanta, Buenos Aires, Lisbon, Helsinki, Singapore, and Jakarta
BCG further expanded in 1995 by establishing branches in Atlanta, Buenos Aires, Lisbon, Helsinki, Singapore, and Jakarta, enhancing its global presence.
1997
Leadership Changes and Office Openings
In 1997, Clarkeson replaced Zakon as chairman, and Carl Stern became CEO. BCG also opened offices in Sao Paulo, Warsaw, Budapest, Stuttgart, and Vienna, marking a period of transition and growth.
1998
International Growth with Mexico City and Copenhagen Offices
BCG continued its international growth in 1998 by adding branches in Mexico City and Copenhagen, further expanding its global footprint.
2000
BCG Partnership with Goldman Sachs
In 2000, BCG collaborated with Goldman Sachs to create successful Internet-based startups, including one that evolved into Expedia.
2001
Expansion to Athens, Beijing, Istanbul, Prague, Cologne, and Rome
BCG expanded its presence in 2001 by opening offices in Athens, Beijing, Istanbul, Prague, Cologne, and Rome, reflecting its continuous growth and adaptability to global markets.
2002-02
BCG staff cuts in North and South America
In February 2002, Boston Consulting Group (BCG) announced a reduction of around 12 percent of its consulting and support staff in North and South America due to the economic downturn following the dot-com bubble burst.
2002-07
Challenges faced by BCG in generating new business ideas
In July 2002, Boston Consulting Group (BCG) was struggling to produce innovative concepts that would attract new clients amidst a changing consulting landscape. The firm faced difficulties in aligning its strategies with the evolving market demands.
2003
Hans-Paul Burkner becomes CEO of BCG
In 2003, BCG partners elected Hans-Paul Burkner as the new president and CEO, replacing the previous leader. Burkner, who had been with BCG since 1981 and became the first European to head the firm, faced the challenge of sustaining the partnership during a period of uncertainty.
2004
Broadening Social Contributions
In 2004, BCG expanded its scope by increasing its social contributions, showcasing a commitment to societal impact.
2008
Establishment of BCG Fellow Program
The BCG Fellow Program was established in 2008, highlighting the firm's dedication to fostering talent and innovation.
2013
BCG Wall of History Unveiling
In 2013, the Boston Consulting Group celebrated its 50th anniversary by unveiling the BCG Wall of History in Boston, Massachusetts.
2021-05
Christoph Schweizer Becomes CEO of BCG
In May 2021, Christoph Schweizer was elected as the CEO of BCG, succeeding Rich Lesser, and taking on the leadership role to drive the firm's strategic direction.
2021-06
Boston Consulting Group hired to examine feasibility of Saudi Arabia hosting 2030 FIFA World Cup
BCG was hired in June 2021 to assess the feasibility of Saudi Arabia hosting the 2030 FIFA World Cup. This bid was considered significant due to FIFA's policy of continental rotation, which would have prevented any Asian Football Confederation nations from hosting until 2034.
2022-12
BCG X
In December 2022, Boston Consulting Group consolidated various alternative business units into a single entity known as BCG X, which focuses on providing digital and technology-related consulting services.
2024-03-11
Boston Consulting Group (BCG) Firm Profile Updated
Boston Consulting Group updated its firm profile on March 11, 2024. The firm has been a pioneer in business strategy with influential figures like founder Bruce Henderson shaping the world of management consulting.