Tom Spencer

NOVEMBER 15, 2024

With thousands of management consultants applying to top MBA programs each year, consulting is one of the most overrepresented candidate pools, alongside finance. For example, some of my peers at my MBB firm took on internal rotations as Chiefs of Staff for senior leadership, gaining unique insights into global consulting operations.

Consulting 60

Consulting Finance Nonprofit Transportation 60

Tom Spencer

OCTOBER 25, 2024

This article delves into the rising importance of ESG metrics, how companies are integrating them into their operations, provides leading examples, and highlights the evolving regulatory landscape. Leading Examples Several multinational companies are leading the way in integrating ESG metrics into their business practices.

Metrics 78

Metrics Ethics Government Financial 78

Steve Shu Consulting

JULY 25, 2014

One the other hand, possibilities for competitive differentiation and new products seem limitless. For example, Opower tapped into a great market using software-as-a-service and a behavioral efficiency model for saving energy. As another example, when I was working with Allscripts we had more of a strategic, business unit approach.

Video 230

Video Analysis Operations Development 230

Steve Shu Consulting

JANUARY 18, 2023

Shifting to the world of human behavior, one classic example of the impact of anchoring on judgments was done by Jacowitz and Kahneman, where they asked people to guess the height of the tallest redwood tree. For example, in another post , my colleague, Prof. finance), application (e.g., retirement), and context/conditions (e.g.,

Examples 195

Examples Finance Groups Research 195

Tom Spencer

MARCH 28, 2025

In October 2020, HSBC launched theContour platform, which uses blockchain to digitize trade finance and reduce friction in international trade transactions. For example, the Bank of England launched a CBDC Taskforce in 2021 to explore a digital pound, also known as Britcoin. Zuhair Imaduddin is a Senior Product Manager at Wells Fargo.

Banking 88

Banking Financial System B2B 88

Harvard Business

APRIL 14, 2017

For example, our survey, which asked managers of 13 functions, from sales and marketing to procurement and finance, to indicate whether their departments were using AI in 63 core areas, found AI was used most frequently in detecting and fending off computer security intrusions in the IT department. Insight Center. The Age of AI.

Company 159

Company Survey Finance Engineering 159

Tom Spencer

NOVEMBER 8, 2024

For example, I had access to: Dedicated research teams providing support by gathering data, conducting analyses, and generating insights. Organized and Structured Consulting Approach The work environment at MBB firms is fast-paced and demanding, with high expectations for performance and productivity.

McKinsey 78

McKinsey Methodologies Transportation Bain 78

Management Consulted

AUGUST 1, 2013

They seized this opportunity to establish a firm that would help firms gain clarity about their business models, products, and clients and then advise them by creating long term strategies. Industrial Products. Retail and Consumer Products. Corporate and Finance and Advisory. Surface Transportation. Public Policy.

Oliver Wyman 201

Oliver Wyman Interviews Mercer NERA Economic Consulting 201

Tom Spencer

JUNE 9, 2023

These systems can suggest relevant products that customers are likely to enjoy. For example, Alibaba, a leading Chinese e-commerce company, could conduct sentiment analysis of customer reviews of individual products and services, and use these insights to modify existing products and develop new ones.

Data 147

Data Operations Efficiency System 147

Harvard Business

FEBRUARY 16, 2018

In one global consumer products company that I work with, my firm’s organizational assessment revealed an unusually intense degree of aggravation over how much time was consumed by meetings, leaving “only evenings to do our day jobs,” according to one interviewee. companies spend more than $37 billion dollars a year on them.

Meeting 134

Meeting How To Government Finance 134

Steve Shu Consulting

OCTOBER 8, 2017

Management consulting projects can span diverse areas from operational to finance to marketing to strategy to IT management, etc. For example, you can see this in some of the digital agency like efforts (e.g.,investigate Are there other models? There are other modern, consultative models emerging. plus traditional consulting roles.

Management 150

Management Consulting Methodologies McKinsey 150

Harvard Business

JUNE 22, 2016

For example, when a supplier elects to receive payment for a $10,000 invoice in 15 days through the FinTech and the buyer submits payment to the FinTech 90 days after it approves the supplier invoice and buyer’s cost of capital is 2%, the discount that the supplier gives to the FinTech is only $41 (i.e.,

Transportation 130

Transportation Finance Financial Banking 130

Steve Shu Consulting

MARCH 21, 2014

For those unfamiliar with the term “behavioral economics”, I generally describe behavioral economics as a combination of psychology and a traditional science like economics or finance. For example, why do some people help or punish others when it is not in their best economics interests to do so?

Consulting 150

Consulting Finance System Sales 150

Harvard Business

OCTOBER 13, 2017

But if you want to understand how a specific product contributes to the company’s profit, you need to look at contribution margin. For example, if the price of your product is $20 and the unit variable cost is $4, then the unit contribution margin is $16. ” What Is Contribution Margin? How do you calculate it?

How To 134

How To Boston Consulting Group Sales Productivity 134

Harvard Business

JUNE 21, 2017

The skills most frequently mentioned as crucial during early stages include product design and development, pitching, and assembling a founding team. ” Customer discovery and user-centered product design skills are paramount. As one respondent said, “Nothing else matters if you are building a product that no one wants.”

Engineering 134

Engineering Survey Finance Recruiting 134

Harvard Business

MAY 31, 2017

Here are some concrete examples of how AI and machine learning are creating value in companies today: Personalizing customer service. For example, young adults coming off of their parents’ mobile phone plans often move to other carriers. Automating finance. Measuring brand exposure.

Company 134

Company Software Data Sports 134

Harvard Business

AUGUST 27, 2018

They operate as lean organizations, using cloud and internet-based infrastructure, and launch and distribute products more quickly than did firms that competed with factories, warehouses, inventories, and suppliers. Furthermore, as production shifts to Asia and more and more U.S. retains its leadership in technological progress.

Company 129

Company Trends Finance Knowledge Base 129

Harvard Business

APRIL 24, 2018

For example, we know that being more conscientious (hard-working, driven, reliable, and organized) is associated with better job performance, and that being nice (more agreeable) does not pay off in wages. Donna Grethen/Getty Images. I found that in early years, earnings were no different for men with strong personality traits.

Education 134

Education Study Finance Productivity 134

Harvard Business

NOVEMBER 15, 2017

That’s why Alibaba and Amazon, for example, create and sprinkle autonomous cross-functional teams across their respective companies to invent and deliver products in new ways. These teams regularly come up with innovations that enable these online retailers to roll out more new products and services faster than their competitors.

Retail 128

Retail Operations Productivity Industry 128

Harvard Business

AUGUST 3, 2018

Most innovation investments, such as product improvement, technological innovation, and research and development (R&D) traditionally aim at strengthening the innovation capacity of the organization. Nokia during 2007-2010 was an example of a corporation with great innovation capacity. ” The Ovi Store was discontinued in 2015.

System 132

System Development Resources Case Study 132

Harvard Business

AUGUST 8, 2018

If all went well, AI-powered robots would enable the company to achieve a weekly production of 5,000 Model 3 electric cars to keep up with burgeoning demand. According to CEO Elon Musk, the sophisticated robots actually slowed down production instead of speeding it up.

Engineering 130

Engineering Training Training Analysis 130

Harvard Business

MARCH 15, 2018

Nonetheless, statistics show that women-owned businesses, which account for one-third of Swedish businesses, are not granted the corresponding proportion of government venture financing; in fact, women-owned businesses receive only 7%. ” In contrast, men were characterized as ambitious, risk-taking, and eager to test their ideas.

Data 130

Data Real Estate Finance Financial 130

Tom Spencer

JUNE 6, 2020

Determining appropriate product pricing (e.g. Prioritizing new product development efforts. Choosing specific product features. This form of segmentation is widely used since specific products often cater to individual needs relating to at least one demographic element. brick-and-mortar vs online).

Apparel 103

Apparel Retail Examples Productivity 103

Harvard Business

NOVEMBER 21, 2018

First, they created a combination of breakthrough product innovation and breakthrough business model innovation— the definition of category creation. In financial services, there are signs that traditional products like mutual funds are beginning to wane. on half a billion dollars invested on the platform to date.

Real Estate 129

Real Estate Finance Survey Financial 129

CaseInterview.com

SEPTEMBER 9, 2021

For example, if I’m terrible at engineering, but I collaborate with an exceptional engineer, my personal weakness is irrelevant. If someone I work with is fabulous at sales but terrible at finance, when we work together, I benefit from their talent in sales, and they benefit from my talent in finance.

Finance 98

Finance Engineering Talent McKinsey 98

Harvard Business

OCTOBER 23, 2018

Jetta Productions/Getty Images. has lost what Harvard Business School’s Willy Shih calls the “ industrial commons ”: indispensable production skills and capabilities. has lost what Harvard Business School’s Willy Shih calls the “ industrial commons ”: indispensable production skills and capabilities.

Engineering 128

Engineering Government Automotive Research 128

Tom Spencer

FEBRUARY 1, 2020

Some people also call consulting a ‘talk-job’ – you go to the clients, you talk about what the ideal world scenario would be for a particular project, product or market, and your billable hours are sorted. Sales, Marketing, Production) and secondary functions (e.g. Finance, HR, Supply Chain, ICT, Legal).

Consulting 135

Consulting Operations Financial Real Estate 135

Chad Barr

JANUARY 8, 2025

Finance: Predicting market trends with near-flawless accuracy. Manufacturing: Optimizing production processes far beyond human capability. For example: Are you ready to integrate AI agents into your operations to cut costs and boost productivity and revenues?

Trends 52

Trends eBook Training Training 52

Harvard Business

MAY 26, 2016

In the lean-manufacturing context, in contrast, assembly line workers learn to execute a variety of production tasks, take responsibility for product quality, and are encouraged to find ways to improve the production process. Workers tend to earn more and report higher engagement with their jobs.

Apparel 119

Apparel Operations Development Accenture 119

Tom Spencer

MARCH 16, 2014

If you are thinking about producing a strategic plan, developing a new product, entering a new market, engaging in a new venture, or financing a project then it probably makes sense to understand the big picture issues that could affect your success. Availability of financing (investment and grant funding). Social norms (e.g.

Analysis 114

Analysis Intellectual Property Trends Ethics 114

Harvard Business

JUNE 21, 2017

Just as we wouldn’t rely on a single marketing tactic or a single source of financing for the entire life of an organization, we need to build up a portfolio of innovation strategies designed for specific tasks. When that happens, innovating your products won’t help — you have to innovate your business model.

Research 195

Research Enterprise Video Energy 195

Harvard Business

OCTOBER 8, 2018

Yet for the regular knowledge worker, Microsoft Excel, 30 years on, remains the go-to product for people looking to make sense of data. Satya Nadella, Microsoft’s CEO, maintains that Excel is still the one Microsoft product that stands above the rest — and 750 million knowledge workers worldwide support that claim every day.

Data 133

Data Productivity Tools Finance 133

Harvard Business

FEBRUARY 23, 2018

And research has shown that feelings of organizational ownership lead to g reater job satisfaction , engagement, productivity, and profits. ” At Unilever, the R&D and marketing departments work in tandem to create and promote products that serve both business and society.

How To 127

How To Real Estate Case Interview System 127

Harvard Business

APRIL 6, 2018

At the start of my public seminars on strategic planning I ask attendees, who rank from board members and CEOs to middle management, to write down an example of a strategy on a sheet of paper. The key to strategy is that it’s the positioning of one business against others — such GM against Ford and Toyota, for example.

System 134

System Strategy Strategy& Strategy 134

Harvard Business

MAY 19, 2016

For example, an unemployed typist looking for work in the 1980s could learn how to use a computer or fill a vacant position left by another typist who moved on to another job or retired. It is not surprising that workers do not acquire more of these skills, since they do not reap any of the benefits of their increased productivity.

Education 132

Education Data Training Training 132

Harvard Business

SEPTEMBER 6, 2017

Machine learning, for example, may not eliminate many jobs in their entirety. Take insurance, for example. But new sources of crop, weather, and other data have created new opportunities to boost farm productivity. Armies of actuaries worked tirelessly to estimate the cost of underwriting certain risks (or risk pools).

Company 143

Company Talent Engineering Insurance 143

Harvard Business

JUNE 28, 2016

A second set of entrepreneurs focus on information goods and think of IT as the product. But today there is a third approach, one that will become the dominant path for most entrepreneurs, especially those building information products. Microsoft, IBM, and Google offer similar services. Take a company like Airbnb.

Construction 119

Construction Airlines Data Travel 119