Bain &Co: Producing Results
Bain & Co was founded in 1973. Its mission was to redefine the management consulting industry to focus on delivering clients results not just producing reports. The firm was trail blazing developing customized strategies that helped clients beat their competition. Bain’s teams worked alongside client to turn recommendations into concrete actions. The firm’s result-driven approach was a unique innovation in the consulting world.
Bain likes to put its money where its mouth is. They engaged in various “tied economics” arrangements with its clients. This approach allows it to better align its financial incentives with the client outcomes. Aligned economics arrangements fall right in line with this commitment. Bain will only prosper if the client prospers.
Bill Bain and his partners, in 1984, then set out to apply the same results-oriented approach to the private equity market. Bain Capital is a separate company and shares no management or information with Bain & Co. What the two companies share are its approach to taking on tough business challenges and its commitment to delivering extraordinary results.
Bain has always been leading edge in its thoughts and actions. Founded on the mantra of working for results-oriented owners, the firm pioneered strategic consulting for private equity firms, offering strategic due diligence during acquisition and hands-on performance improvement for portfolio companies.
The firm then set its eyes on nonprofit organizations. Bain believes these types of organizations should have the same access to results as for-profit enterprises. Following on this believe The Bridgespan Group was opened in 2000. This was the first firm to provide high-level consulting service to the nonprofit sector.
The firm’s industry expertise include airline and transportation, financial services, industrial goods and services, metals and mining, private equity, social and public sector, telecommunications, technology, healthcare, media and more. Bain’s consulting services include performance improvement, customer strategy and marketing, mergers and acquisitions and more.
Bain has evolved into one of the big three management-consulting group along with McKinsey and Boston Consulting Group.