SERVICES

HISTORIES Global Management Consultancy Having safely navigated a series of economic and reputational shocks at the turn of the millennium, a global management consultancy was not content to put the past behind it and move on. Whenever it had found itself at a crossroads, it always turned inward, to its own history, for guidance. This time was no different. Only by understanding how and why the firm had evolved could its partners and associates live up to the high standards they had inherited. The firm engaged Winthrop to write an official history for a sophisticated and critical internal audience. Based on hundreds of interviews and research in firm archives and the public record, the history traces the growth of the institution from its humble Depression-era origins into one of the most influential professional services firms in the world today. In doing so, it yields some valuable insights: how a distinctive style of leadership, one that derived legitimacy from process and communication, proved best suited to a self-governing partnership, and what happened when individual leaders departed from this model; why the ability to attract, retain, and develop the very best young talent, far from a luxury, proved to be the key to client service and a source of competitive advantage; how creating and sharing knowledge, by enabling the firm to forge closer ties between consultants in far-flung locations, not only helped it to meet client demand but also strengthened it as an institution; why in many ways the firm's growing capability was also its greatest challenge, as rising aspirations sometimes gave way to hubris. Running throughout the story is the common thread of the firm's values: how they were formed, shaped, tested, and adapted; how they empowered success; and why they continue to matter all the more in a diverse, highly decentralized global enterprise whose most valuable asset is its reputation.