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»The Next Big Thing
Consultants are always looking for the next big thing, the innovation that will see clients storming through their gates, bypassing pesky procurement departments, and writing blank checks for the magic mousetrap that whitens and brightens and cleans windows, too.
»JP Morgan and The Whale: A Parable
After a tumultuous period of banking hyper-regulation after 2008, no one would have suspected in 2012 that JP Morgan, the world’s largest bank, had ineffective controls in place that left the company flat-footed when its “rogue” trader had taken untenable, long-term positions on Credit Default Swaps.
»Optimizing Manufacturing Strategy
Bloomberg News recently reported that GE intends to use 3D printers to produce 85,000 fuel nozzles for its newest jet engine, a significant leap for a technology that until now has largely been confined to prototyping tasks.
We may be witnessing the start of a new wave of privatizations, which will see governments throughout Europe significantly increasing their sales of assets across a wide range of economic sectors.
»The Jetsons and Cyber Security Measures
As a child watching the animated TV show The Jetsons I was convinced they lived the ideal life. The Jetson family had technologies and gadgets used in everyday life that seemed unfathomable as I watched in the 1980s.
»U.S. Healthcare Reform and Integration
While each week in the U.S. different reports come out about key aspects of the US healthcare reform being adopted, implemented or delayed, fewer elements of the Affordable Care Act’s (ACA) impact are clear.
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»Marriott Goes Big in NYC
Marriott International, Inc. and G Holdings opened what they’re calling an “iconic addition” to the New York skyline, a combined 378-room Courtyard hotel and 261-suite Residence Inn hotel in midtown Manhattan. The $320 million, 68-story property is the tallest single-use hotel in North America.
»FAA: ‘Staffing Challenges’ Causing Delays
In case you haven’t noticed, non-weather related delays at U.S. airports are on the rise. (And I know you’ve noticed that weather-related delays are definitely on the rise.)
»Hilton’s Building Boom
Coming off a whirlwind 2012, Hilton Worldwide is the fastest growing global hospitality company by number of rooms.
»Extended Stay America Serves Up Free Breakfasts With ‘Grab and Go’
Extended Stay America launched a new Grab and Go Breakfast program, which is available seven days a week from 6 a.m. to 9:30 a.m. at all of its more than 600 locations.
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»The Three Rules
Earlier this year, Deloitte Consulting’s Mumtaz Ahmed and Michael Raynor published The Three Rules: How Exceptional Companies Think. The authors set out to answer what was, in their mind, the ultimate business question—how do some companies achieve exceptional performance over the long haul?
»Thinking in New Boxes
Creativity is key if you are to thrive in a time of accelerating change, according to The Boston Consulting Group’s Luc De Brabandere and Alan Iny.
»The Effortless Experience
We live in a golden age of customer service, when many executives say their goal is to ‘delight the customer.’ It’s a worthy goal, for sure, but what if it’s wrong?
»The Solution Revolution
What drives the social economy? What opportunities does it present for business? William D. Eggers and Paul MacMillan set out to answer these questions and more.
»Author Q&A: PwC's Ted Shelton
PwC’s Ted Shelton’s book Business Models for the Social Mobile Cloud: Transform Your Business Using Social Media, Mobile Internet, and Cloud Computing, examines how the three technologies are coming together to transform businesses.
»Review: The Three Rules
Why do some companies achieve exceptional performance while so many others struggle to survive? That’s the question Deloitte’s Michael Raynor and Mumtaz Ahmed—along with an international team of dozens of researchers at Deloitte—set out to answer with their book The Three Rules.
»PwC Advisory Chief: PRTM Deal ‘Off to a Great Start’
Even though the deal just closed at the end of August, Dana Mcilwain, PwC Vice Chairman and U.S. Advisory Leader, says the firm is already seeing some significant success stories from its acquisition of PRTM.
“We’re off to a great start,” he says. “The transition is going very well, we are already working together seamlessly in the marketplace and pursuing and winning new opportunities. The deal is a strategic fit, economic fit, and most importantly, a cultural fit. Without the cultural aspect, this deal could not succeed.”
The acquisition adds some 725 new consultants into the PwC fold, bringing the total number of employees into PwC advisory to over 7,000. For now at least, PwC will continue to leverage the PRTM brand. Scott Hefter, former Global Managing Director of PRTM, is leading the “PRTM Management Consulting” unit within PwC’s advisory business. PRTM, the 40-year-old Waltham, Ma.-based operations firm, was ranked No. 15 on our annual Best Firms to Work For list in 2010. PwC, meanwhile, was ranked No. 8 on this year’s survey. Financial terms of the deal were not disclosed.
Meanwhile, Mcilwain says PwC is already getting positive feedback from clients about the benefits PRTM brings to the firm. Those benefits include expertise in the areas of strategy, product and services development, supply chain, customer experience, as well as very strong benchmarking and analytical skills.
From an industry perspective, Mcilwain says PRTM’s prowess in manufacturing, technology, industrial products and retail and consumer were major pluses. “We saw it as a tremendous fit both from a functional perspective as well as from an industry perspective,” he says. “PRTM’s capabilities really make us a leader in the operations management space, and we’ll continue to grow that business and drive a significant rate of growth for us going forward.”
The impetus for the PRTM deal actually started well over a year ago when PwC began a process of looking at firms with the skills and capabilities and industry credentials the firm was interested in acquiring.
“During that process, we looked at a number of companies and at the end of the day, Diamond Management & Technology Consultants and PRTM were the two companies that topped our list,” Mcilwain says.
PwC acquired Diamond in August 2010.
“Both Diamond and PRTM have great brands and a tremendous track record in terms of serving clients,” he says. “And they share our culture and do a great job of caring for and developing professionally their own people. That’s why we brought them into the fold. We want firms like that to join forces with PwC.”