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»Riding the Waves of Healthcare Risk
The modern healthcare system is much like the ocean—stormy, choppy, and hostile at times, soothing, calm and inviting at others. For surfers, the more waves you go for, the more you will catch, and the more likely you’ll “wipe-out.”
»The Department of Defense Wants a New Mantra
“Do more with less.” It’s become a tired refrain that U.S. Department of Defense leadership is all too familiar with hearing from all directions, whether it is their direct superiors, Congress, or the Executive.
»Things Go Wrong
Things go wrong. Anyone who plays poker knows this. One moment you’re on the verge of a royal flush, and the next, you pull a six of diamonds, and you’re called. Things do indeed go wrong.
»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.
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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.
»Best Places to Stay: Travel Bounces Back
Consultants are on the road again, at least according to the results of our annual Best Places to Stay survey.
»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.
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»Excerpt: Procurement as Productivity
The following is an excerpt from the book Procurement 20/20: Supply Entrepreneurship in a Changing World by a quartet of McKinsey & Company consultants—Peter Spiller, Nicolas Reinecke, Drew Ungerman and Henrique Teixera.
»Review: The Risk-Driven Business Model
Most companies focus their innovation on new products.
»Review: Lead Positive
Today’s business leaders face intense pressure to deliver results in an uncertain, chaotic, and high-stress business environment.
»Review: Step Up
No matter what your title or place in the organization chart, you have the potential to be a leader.
»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.
»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.”