Harvard Case - Mercer Management Consulting's "Grow to Be Great" (A): The Growth Initiative
"Mercer Management Consulting's "Grow to Be Great" (A): The Growth Initiative" Harvard business case study is written by Dorothy Leonard, Carin-Isabel Knoop. It deals with the challenges in the field of Operations Management. The case study is 16 page(s) long and it was first published on : Apr 4, 1997
At Fern Fort University, we recommend that Mercer Management Consulting implement a comprehensive growth strategy focused on leveraging their core competencies in operations and supply chain management to expand into new markets and service offerings. This strategy should prioritize organic growth through strategic acquisitions, targeted investments in technology and analytics, and a robust talent development program.
2. Background
Mercer Management Consulting is a leading consulting firm specializing in operations and supply chain management. They have a strong track record of success in helping clients improve efficiency, reduce costs, and enhance customer satisfaction. However, the firm faces increasing competition and a need to diversify its service offerings to maintain its market leadership.
The case study focuses on Mercer's 'Grow to Be Great' initiative, a strategic plan aimed at achieving significant growth over the next five years. This initiative involves expanding into new markets, developing new service offerings, and investing in technology and talent.
3. Analysis of the Case Study
Strategic Framework: The analysis employs a combination of Porter's Five Forces, SWOT analysis, and the Value Chain framework to understand Mercer's competitive landscape, strengths and weaknesses, and opportunities for growth.
Porter's Five Forces:
- Threat of New Entrants: High, due to the increasing number of consulting firms entering the market.
- Bargaining Power of Buyers: Moderate, as clients have multiple options for consulting services.
- Bargaining Power of Suppliers: Low, as Mercer has access to a wide pool of talent.
- Threat of Substitute Products: Moderate, as other consulting firms offer similar services.
- Competitive Rivalry: High, as the consulting industry is highly competitive.
SWOT Analysis:
- Strengths: Strong expertise in operations and supply chain management, strong client relationships, and a talented workforce.
- Weaknesses: Limited geographic reach, lack of diversification in service offerings, and potential for talent retention issues.
- Opportunities: Growing demand for operations and supply chain expertise, increasing adoption of technology and analytics, and potential for mergers and acquisitions.
- Threats: Increasing competition, economic downturn, and talent shortage.
Value Chain Analysis:
- Primary Activities: Consulting services, research and development, and talent management.
- Support Activities: Infrastructure, human resource management, and technology.
Analysis: Mercer's core strength lies in its deep expertise in operations and supply chain management. This expertise can be leveraged to expand into new markets and develop new service offerings. However, the firm needs to address its weaknesses in geographic reach, service diversification, and talent retention.
4. Recommendations
1. Strategic Acquisitions: Mercer should pursue strategic acquisitions of smaller consulting firms specializing in complementary areas, such as digital transformation, data analytics, or sustainability. This will allow Mercer to rapidly expand its service offerings and geographic reach.
2. Targeted Investment in Technology and Analytics: Mercer should invest in advanced analytics platforms, AI-powered tools, and data visualization software to enhance its consulting services. This will enable the firm to provide more data-driven insights and solutions to clients.
3. Talent Development Program: Mercer should implement a robust talent development program focused on attracting, retaining, and developing top talent. This program should include initiatives such as mentorship programs, leadership training, and career development opportunities.
4. Market Expansion: Mercer should prioritize expanding into new markets with high growth potential, such as emerging economies and industries undergoing digital transformation. This expansion should be supported by local partnerships and strategic alliances.
5. New Service Offerings: Mercer should develop new service offerings that leverage its core competencies and address emerging client needs. These offerings could include digital supply chain optimization, sustainability consulting, or data-driven operations improvement.
5. Basis of Recommendations
1. Core Competencies and Consistency with Mission: The recommendations align with Mercer's core competencies in operations and supply chain management and its mission to help clients achieve operational excellence.
2. External Customers and Internal Clients: The recommendations address the needs of both external clients seeking specialized consulting services and internal clients seeking career development opportunities.
3. Competitors: The recommendations help Mercer stay ahead of the competition by expanding its service offerings, investing in technology, and developing its talent pool.
4. Attractiveness: The recommendations are expected to generate a positive return on investment through increased revenue, market share, and profitability.
Assumptions: The recommendations are based on the assumption that the consulting industry will continue to grow and that there will be a continued demand for operations and supply chain expertise.
6. Conclusion
By implementing a comprehensive growth strategy focused on strategic acquisitions, targeted investments in technology and analytics, and a robust talent development program, Mercer Management Consulting can achieve its 'Grow to Be Great' goals and maintain its leadership position in the consulting industry.
7. Discussion
Alternatives: Other alternatives to consider include organic growth through internal expansion, joint ventures with other consulting firms, or a focus on specific industry verticals.
Risks: The risks associated with these recommendations include the potential for failed acquisitions, technological obsolescence, and talent retention challenges.
Key Assumptions: The recommendations are based on the assumption that the consulting industry will continue to grow, that Mercer's core competencies remain relevant, and that the firm can successfully execute its growth strategy.
8. Next Steps
Timeline:
- Year 1: Implement talent development program, initiate market expansion, and identify potential acquisition targets.
- Year 2: Complete first acquisition, invest in technology and analytics, and develop new service offerings.
- Year 3: Expand into new markets, continue acquisitions, and refine talent development program.
- Year 4-5: Consolidate growth, optimize operations, and focus on long-term sustainability.
Key Milestones:
- Achieve a 10% increase in revenue each year.
- Expand into three new markets.
- Complete two strategic acquisitions.
- Develop two new service offerings.
- Increase employee satisfaction and retention rates.
By diligently executing these recommendations and navigating the associated risks, Mercer Management Consulting can achieve its 'Grow to Be Great' goals and solidify its position as a leading consulting firm in the global market.
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Case Description
In late 1994, James Down, member of Mercer's Executive Committee, has to decide whether or not he should push ahead with the writing and publication of a book on growth--at a time when the more successful business publications focus on reengineering and cost cutting. He sees this as an opportunity to position Mercer in the consulting market and align the organization--itself a result of several mergers--around a common platform. He is facing resistance within the firm, however, especially from the firm's European offices, which see little need for this knowledge product. Proceeding without Europe could result in an incomplete product and a divided firm. If he waits, though, he may miss a critical market window. The case provides early versions of the growth framework. The product in this case is built from the firm's knowledge assets, and is very different from manufactured hardware or software.
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