In the News

"Debenhams: all about the bottom line"

In the 9 July 2010 issue of Retail Week Principle Jason Gordon commented on retailers taking measures to "establish and maintain the credentials of own-brands" and ensuring that they put "oomph into their brands through more than just one product." Gordon states that, "marketing, price perception, where you put the product in the stores, freshness of display - it all impacts brand equity".

"Gas glut hastens the demise of coal"

On 27 June 2010 The Sunday Times cited Booz & Company's gas markets study, The next cycle: Gas markets beyond the Recession, noting that "last year was the first time since the 1960s that gas demand fell in Europe, Asia and North America simultaneously". The article highlights that a "five year gas glut could speed the end of coal-fired power in Britain and aid the economic recovery by keeping down household energy bills".

"iPad fever wraps world in wire"

On May 30 2010 The Telegraph quoted Partner Michael Knott on the topic of the consequences of increased data traffic for the telecoms sector. He states that the "cost of bandwidth is not expected to increase, but operators and internet service providers are still spending a great deal of money to increase their overall capacity" and "unless they find a way to change the pricing they are going to be left holding the can for this data explosion".

"Fewer CEOs Getting the Sack"

In the May 19, 2010 issue of City A.M, Booz & Company Partner Richard Rawlinson is quoted talking about this year's CEO Succession Study: "Companies that turn to outsiders tend to do worse than those that promote internally, reflecting the fact that strong companies promote from within, and recruiting an outsider isn't a panacea for turning a company around."

"UK Makes its Mark on CEO Role"

An article published in the May 18, 2010 issue of the FT references Booz & Company's annual CEO Succession Study, and highlights how the UK model of splitting the roles of chairman and chief executive is taking hold globally, even as chief executive turnover seems to have stabilised at a new higher level of about 14 per cent at the world's largest listed companies.

"Booz & Company Sets Up Virtual Climate Change Team to Serve Industry Practices"

In the January 2010 issue of Climate Change Business Journal, Booz & Company Partner Nick Pennell (Europe) detailed development of the firm’s “low-carbon sustainability” practice that supports the climate change and sustainability programs of all its clients. “We’re historically organized by industry practice but over time, each of those teams has had clients that have been increasingly interested in climate change, carbon reduction, and sustainability issues,” said Pennell, who leads the practice. “That interest has now reached critical mass, so we’ve established this formal coordinating mechanism.” The practice consists of a “virtual” team of 35 to 40 people from each of the industry-oriented groups who can connect their industry knowledge to sustainability and carbon management, and a smaller team of specialists and subject matter experts in areas such as carbon finance and the Clean Development Mechanism. “Given the slight uncertainty of the Copenhagen outcome in terms of price-setting mechanisms for carbon, for many companies, you’ll see a reversion to bread-and-butter CO2 reduction and energy-efficiency opportunities leading to tangible value creation,” Pennell said. “For companies in the renewable energy space, many of the U.S. states and European countries have renewable energy targets, so there will be continuing interest in helping companies meet those targets.”

"£110 billion Working Capital ‘Puts Survival Of Companies At Risk"

In the December 18, 2009 issue of The Daily Telegraph, Booz & Company Partner John Potter (Europe) said British companies that are able to free up working capital, often tied locked into high levels of inventory, could provide a wave of cash for companies to invest in research and development to boost their competitiveness. “When capital is scarce, making better use of working capital is not merely a matter of improved practice,” said Potter. “Companies risk their competitiveness, in fact their own survival, by neglecting the cash available at home.” Potter was speaking about a Booz & Company survey, which found British companies have £110 billion tied up in working capital on their balance sheets, seriously affecting their competitive edge against overseas rivals. The study of 202 publicly-traded companies with combined annual revenues of more than £1.2 trillion, looked at three areas of working capital—receivables, payables and inventory—across 31 sectors. The research found firms were sitting on a sum equivalent to 10 percent of the total annual revenues of every business in the FTSE 100 and more than five times the UK Government’s economic stimulus package.

"Johnson Pressed on Immigration Rules"

An article in the October 16, 2009 issue of The Financial Times cited a prominent Booz & Company report that confirmed many of the factors contributing to the City of London’s powerful position as a world capital of business are at risk. Presented to Mayor Boris Johnson and members of his International Business Advisory Council (IBAC) at their annual meeting at City Hall, Booz & Company’s review of London’s overall business competitiveness determined that safeguarding financial services and nurturing the leading creative and legal industries were vital in retaining the capital’s status as a premier business destination. According to the study, more than 50 business leaders said measures such as the planned 50p top tax rate and a £30,000 levy on non-domiciled residents were prompting individuals and companies to consider leaving London. The report urged the Mayor to set up a small London competitiveness unit to strengthen his lobbying capability, with one of its priorities to launch a coordinated campaign on immigration. Booz & Company delivered its business competitiveness report at the request of Ian Livingston, Chief Executive of BT; and Richard Sharp, Chair, Royal Academy.

"The Constant Traveller on a Mission to Inspire"

On 24 August 2009 the Financial Times featured a profile of Booz & Company CEO Shumeet Banerji.

"How to Cut"

In an article on management in the recession, the Financial Times on 10 August 2009 cited Booz & Company's Cut Costs, Grow Stronger e-book.

"A Top Priority When a Business Fails"

Booz & Company principal Tanvir Hanif was quoted in a Financial Times article on 9 July 2009 on the challenges faced by insolvency administrators, IT teams and outsourcing suppliers when a business fails.

"Thin Talent Pool Vexes U.S. Financial Companies"

The Wall Street Journal Europe cited our CEO succession study on 25 June 2009, noting that the financial services industry had the highest rate of forced succession of CEOs in 2008.

"Gas Markets Demand"

On 11 June 2009 Bloomberg cited Booz & Company’s recent gas markets survey, noting that global demand for natural gas will drop this year for the first time in the history of international gas markets, triggering an oversupply that may last for years.

"Turmoil Helps Deliver Job Security for CEOs"

On 21 May 2009 the Financial Times ran three articles on Booz & Company's annual CEO succession study. CEO Succession Survey 2008: Stability in the Storm concludes that the nature of the recession is leading boards of directors of Western companies to stick with the leaders they know.

"How To...Prepare for an Economic Recovery"

An article from The Times on 22 April 2009 cites the need to take a holistic view in a recession. "Review every facet of business activity, assess your competitive position and do not be afraid to challenge received wisdom, Shumeet Banerji, the chief executive of Booz & Co., the consultancy, writes in the magazine strategy+business. This may mean, for example, 'exiting some segments and competing harder in others, including through the acquisition of less well-managed competitors'."

"Who Owns the IT When a Company Divides?"

In an article from the Financial Times’ Digital Business supplement on 12 March 2009 dealing with how to dismantle an IT structure following a divestment, Booz & Company London principal Tanvir Hanif comments that clients are being forced to make decisions faster in the current economic climate. "The resulting 'distressed divestment' situations mean that full due diligence of IT is frequently not completed and the operational and IT assets involved in the divestment have not been fully understood or agreed. This leads to frantic post-deal activity to understand the disentanglement challenges."

"Tourism"

The daily ‘Need to know’ section in The Times on 5 March 2009 cites the new global travel and tourism competitiveness rankings released by the World Economic Forum in partnership with Booz & Company. The UK has dropped from sixth to eleventh in the global rankings.

"Mobile Firms Have to Move With the Times"

The Sunday Times on 15 February 2009 cited Booz & Company’s research—released to coincide with the launch of the Mobile World Congress in Barcelona—suggesting that UK voice and data sales, both mobile and fixed line, will fall from £33.5 billion in 2008 to £32.5 billion in the next five years.

"How Companies Tackle the Interweb Thingy"

A report from the World Economic Forum in Davos on the BBC News website on 30 January 2009 notes that some companies are still struggling to engage with the internet. Digital confidence is key, as Booz & Company’s chief marketing officer Tom Stewart remarks. “The internet is seen by many [consumers] as an extremely dangerous place.” He adds that companies have to tackle the “killers of digital confidence” , from network security to fraud prevention.

"Time For Managers to Stand and Deliver"

The Financial Times on 23 January 2009 cites Booz & Company’s global survey which found that 40% of senior managers dobted their leadership had a credible plan to deal with the current crisis and that 46% doubted that the leadership was capable of carrying out its plans, credible or not.

"The Trouble With Bosses Today"

Anthony Hilton’s City Comment column in the London Evening Standard on 22 January 2009 cites Booz & Company’s survey of 800 senior managers across the world which found that 40% doubted their company’s leadership had a credible plan to address the economic crisis.

"Taking a Breather After a Surge in Growth"

In a 17 November 2008 Financial Times article on the market for management consultancy in China, Booz & Company’s managing director for Greater China, Edward Tse, comments: “I think the global chief executive for a multinational will look at their strategy and will be thinking: ‘Given this overall situation, where is our growth spot going to be?’ and I think most of them will think it’s going to be China.”

"Change Management: Call to Avoid Big Cuts"

A Financial Times article on change management on 17 November 2008 cites Booz & Company’s survey of executives that had led large transformational programmes, with a vast majority stating that, with hindsight, they would have begun the work sooner and emphasised its importance even more.