Innovation at the Boston Consulting Group Case Solution
From the following results of implementing the Bostonâ€™s innovative strategy in 20th century, it has been analysed that it would also benefit the company to succeed in future, if the same strategy would be implemented overtime.
The IMC and BCG fellow program would be the key success factors for the companyâ€™s future growth. This would also identify the potential benefits of retaining the clients under control for the long term, due to the innovative solutions provided through these two research labs.
The second key success factor would be maintaining the participantâ€™s contribution over the use of innovative ideas of Boston consulting group, which would allow to maintain the interest of each participant and to manage the ideas in a best way possible to implement for the future consideration of the company. If Boston consulting group would not be able to implement these processes, then the future would be at the stack of surviving within a competitive industry.
There are several questions raised under the case; the first is why the management of Boston consulting group was not focusing on the informal distribution of certain ideas by each individual and the consultants. The second point to consider was the inability of the management to go forward with the new research lab for implementing into the companyâ€™s culture. The third question rose due to the poor implementation of expanding the innovative solutions to mid-class clients due to the flexibility and new solutions given to the unique clients. These three questions would make a negative impact if certain changes would not be considered in order to ensure future success.
In order to address the first problem, Boston should introduce an un-centralized structure where every individual should consider sharing ideas and receive recognition and reward for the generated ideas. This would increase the motivation of each participant and increase the companyâ€™s profitability under several implementation phases.
The second question shows that Boston should set the labs in favour of the subsets of the company; this would definitely increase the awareness of expanding the certain ideas under the terms fixed by the consultants, clients, and other sources. The third indicates that every client should be provided with unique results in order to maintain the interest of the company, overtime.
From the following analysis of managementâ€™s role over the use of the principles and culture under the innovative ideas, it is identified that every organization should maintain its internal structure under control in order to survive in a competitive industry. Management consultancy in this case was in a competitive market position, which shows that it must built its reputation in order to maintain its brand awareness and stand in a competitive position for the long-term.
It is also concluded that sudden organizational strong culture would benefit the operational efficiency of the company in future. Therefore, the outcome would be to hold the market share and to increase the companyâ€™s reputation by providing the high quality innovative solutions due to the strong internal structure.
Lastly, the processes define that if certain steps would not be considered in the companyâ€™s growth strategy, then the consequence would be severe and move the company towards the business risk in the near future. The learning from the current scenario shows that every company should always look towards the internal as well as external environment and try to overcome challenges by implementing the proper plan to execute. Â …………………
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