Monitor Group is a privately-owned global management consulting firm. It was founded in 1983 by a group of Harvard Business School professors including Michael Porter and the current chairman Mark Fuller. Monitor provides services in the areas of strategy consulting, capability building, and capital services.
Monitor Group is headquartered in Cambridge, Massachusetts, and has offices in 30 major cities around the world.
Organization
Managed as an integrated system of international offices, Monitor’s offices are not treated as separate profit-generating units, but rather as different posts of a single company. The profits generated by all offices are brought in together as a firm.[1]
Monitor Group actually encompasses a network of several different companies, each with their own variety of services: Market2Customer (M2C) provides research and customer analysis; Monitor Action Group creates strategic plans; Monitor University teaches key findings to chief executives; and Monitor Clipper Partners is a private equity investment firm.[2]
According to editor-in-chief of Consulting Magazine, Jack Sweeney, Monitor Group is well-known for being different.[3] Monitor's corporate stratification includes titles such as "thought leaders" and "chief knowledge officer" in lieu of groups of vice presidents and corporate spokespeople.[3] Another example of Monitor's untraditional approach is its usage of a television production studio, known as TNBT ("The Next Big Thing"), which produces TV shows and videos tailored for individual clients.[3]
Monitor Group is a cosponsor of the Fast Company Social Capitalist Awards, which identify 45 top social entrepreneurs that are changing the world.[4] The firm has also donated more than $20 millioncitation needed in pro-bono strategic resources and support to New Profit Inc., a nonprofit venture philanthropy fund, since New Profit's founding in 1998. In addition, more than 250 Monitor Group consultants have participated in projects supporting New Profit and its portfolio organizations.[5] The firm received a Pro Bono Award from the US President's Council on Service and Civic Participation as a result of these efforts.[6]
Competitors
Monitor’s main competitors in the high-level strategy consulting market are McKinsey & Company, The Boston Consulting Group, Booz & Company, and Bain & Company.[7] One of the ways that Monitor differentiates itself from its competitors is by its application of cutting-edge business ideas.[7]
Clients
Monitor Group does not disclose its list of clients, which includes Fortune 500 companies, nonprofits and government institutions. Even when discussing clients in-house, Monitor uses acronyms to protect client's identities, a mark of Monitor's hyper-confidentiality.[3] Some engagements that have appeared in the press due to their public nature include a major initiative with the Libyan government[8][9] and a groundbreaking organizational effort with the University of California[10].
Personal management
Monitor has been featured in numerous publications for the quality of its culture and morale. The company was chosen as one of “10 Best Firms to Work For” by the Consulting Magazine[11] and one of “25 Top Consulting Firms” by WetFeet Insider Guide. It has been ranked in the top 5 of the “50 Most Prestigious Consulting Firms” ranking by Vault Guide for several years running[12].
Recruiting
Monitor Group recruits both at MBA and undergraduate levels, including online recruiting, for the "Consultant" position, the title given to all of Monitor's professional staff.[13],[14] Monitor's candidates typically come from top Ivy League schools and their international equivalents, liberal arts colleges and business schools across the world. Only around 2% of the undergraduate applicant pool receives offers.[15] Unlike other consulting firmscitation needed, Monitor's recruitment process features a group case interview and a role-playing case in the final round that tests candidates' emotional intelligence.[16] The interview process is designed to simulate working conditions.
Offices
Notable current and former employees
Chris Argyris - Professor Emeritus at Harvard Business School, known for his seminal work on "Learning Organizations"
Partha Bose - Chief Marketing Officer, Oliver Wyman
Craig Boyan - Chief Strategy Officer, H.E. Butt Grocery Company[17]
Tom Copeland - leading corporate finance authority, co-author of "Valuation: Measuring and Managing the Value of Companies" and "Real Options: A Practitioner's Guide"
Mark Costa - Executive Vice President, Polymers Business Group and Chief Marketing Officer, Eastman Chemical [18]
Richard Dearlove - Head of the British Secret Intelligence Service
Michael Fairbanks - Chairman Emeritus and Founder, OTF Group and Co-Author, Plowing the Sea: Nuturing the Hidden Sources of Advantage in Developing Nations [19]
Rahul Gandhi - Senior Congress Party Leader in India and son of former Indian Prime Minister, Rajiv Gandhi
Andrew Heyward - nationally recognized media expert and Senior Advisor to Marketspace LLC; former President of CBS News
Roger Martin - Dean, Rotman School of Management and Director, The Skoll Foundation, Research in Motion, and Thomson Reuters
Jean de Ponton d'Amécourt - Ambassador of France in Afghanistan
Michael Porter - Academic, leading authority on competitive strategy and international competitiveness
Jeffrey Rayport - founder and chairman of Monitor's digital strategy practice, Marketspace LLC; former Harvard Business School Professor and Author
John Rogers - Director, Properties, J Sainsbury plc
Peter Schwartz (futurist) - Co-founder and Chairman of Global Business Network (a partner of the Monitor Group)
John R. Wells - President, International Institute for Management Development (IMD) and Former CFO, Frito-Lay International [20]
Michael Bell - Founder and Managing Partner, Monitor Clipper Partners and former SVP, John Hancock Financial Services
Tagg Romney - private equity investor and eldest son of Presidential Candidate and former Governor of Massachusetts Mitt Romney
Mark Bruneau - Senior Fellow, Monitor Group and former Chief Strategy Officer, Bell Canada Enterprises
Douglas McCallum - Senior Vice President, European Operations, eBay
Vince Hemmer - Director, UNICEF United States Fund and Prestige Brands
William Young - Managing Partner, Monitor Clipper Partners and Director, Queen's University Board of Trustees
External links
References
- ^ Vault Worldwide Snapshot: Monitor Group [1]
- ^ "Tuning into Monitor" [2] Boston Business Journal, retrieved January 21, 2008.
- ^ a b c d "Tuning into Monitor" [3] Boston Business Journal, retrieved January 21, 2008.
- ^ 2008 Fast Company/Monitor Group Social Capitalist Awards[4]
- ^ "New Profit Inc."[5]
- ^ Six Organizations Honored for Outstanding Pro Bono Service
- ^ a b "Tuning into Monitor" [6] Boston Business Journal, retrieved January 6, 2008.
- ^ "Harvard Guru to Help Libya" [7] BusinessWeek, retrieved January 6,2008
- ^ "Libya Gingerly Begins Seeking Economic but Not Political Reform" [8] New York Times, retrieved on January 6, 2008
- ^ "Q&A on University of California Restructuring Efforts" [9]
- ^ "Best Firms to Work For" [10] Consulting Magazine
- ^ "50 Most Prestigious Consulting Firms" [11] Vault Guides
- ^ "Wet Feet Insider Guide" [12]
- ^ "Tuning into Monitor" [13] Boston Business Journal, retrieved January 21, 2008.
- ^ "Monitor Group Employment: Vault Monitor Employment Snapshot" [14] Vault Guides
- ^ "Monitor Interview & Recruiting Surveys" [15] Vault Guides
- ^ H-E-B taps new chief strategic officer, San Antonio Business Journal
- ^ Eastman - Newscenter - Press Kit - Management Changes - Mark J. Costa
- ^ Mission & History
- ^ Professor John Wells
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