One of the memories
that is etched in my mind
is a project
I did early in my career, many years back.
A three-month entry strategy
for large engineering conglomerate
for an E&P business,
exploration and production of oil.
Early enough in the project,
we did some analysis
that showed that
90% of the companies
that entered this space
failed or destroyed significant value.
We further showed that the capabilities
required for winning in this
were very different
from the capabilities that this group had.
So, what happened
in the first steering committee?
The partner stood up and presented
to say BCG's recommendation was that
the client should not enter this business.
Furthermore, he said
the client should stop the project
because there was no point
in doing an entry strategy
when the recommendation was not to enter.
Cut to a year,
year and a half later,
the same conglomerate
actually was embarking
on a large strategy exercise.
We were invited to pitch,
but did not fancy our chances because
our experience in this engineering space
was not that deep.
To our surprise
we actually won the mandate.
And the single reason that we won it
was because
of their experience
with us in the E&P project.
The new Chairman felt
that he did not need "yes men" around him.
He needed people
with integrity
who would challenge him
have the courage to speak their mind.
That is BCG for me.
And that's a lesson that I have carried
over all these years.
BCG is about leading,
leading with impact,
innovation
and most importantly integrity.