Headquartered in Boston, Massachusetts, Bain & Company is another global management firm with over 5400 employees worldwide.
This firm provides advisory services to governments, businesses as well as non-profit organizations. The scope of the services offered by the company includes technology, strategy, organization, operations, mergers & acquisitions and private equity. The services offered are both cross border and cross industry. The firm has its presence in over 33 countries with a total of 51 offices.
The Bain & Company was founded in 1973 by a group of seven members headed by Bill Bain. All the founding members were former partners of one of the leading management consulting firms, the Boston Consulting Group. In its early years, under the leadership of Bain, a number of practices implemented by this company were unusual to the consulting industry. This helped Bain & Company win clients by boardroom referrals without the necessity of marketing. In order to avoid conflicts of interest, the company worked with only one client per industry. Moreover the partners of the firm did not carry business cards. To enforce client confidentiality the clients were referred to by code names. Consultants of Bain & Company worked on increasing the market value of the client company rather than simply offering a list of recommendations. The increase in the client’s stocks price measured against the Dow Jones Industrial Average was demonstrated in order to win businesses. One of the unique features of this firm was that it accepted equity in lieu of fixed fees. Approximately 10% of the revenue of the company is derived from equity participation also termed as ‘success fees’. One of the examples of such equity participation is the taking or ownership stake in Del Monte Foods when Bain & Company was working to revamp the company’s strategy.