MBB facts for kids
MBB, also known as the Big Three, are the three biggest and most famous companies in the world of business advice. They help large companies make important decisions and solve big problems. These three companies are:
- Bain & Company, started in 1973 by Bill Bain. Its main office is in Boston. It has 49 offices around the world and over 6,000 employees.
- Boston Consulting Group (BCG), started in 1963 by Bruce Henderson. Its main office is also in Boston. It has 78 offices globally and about 7,000 employees.
- McKinsey & Company, started in 1926 by James O. McKinsey. Its main office is in New York City. It has 100 offices worldwide and about 17,000 employees.
These companies are known as the best in their field. They stand out from other consulting firms.
What Makes the Big Three Special?
The Big Three are different from other consulting companies in a few ways:
- They pay their staff very well.
- They have a lot of experience helping very big companies, like those on the Fortune 500 list. These are the 500 largest companies in the United States.
- They focus on big-picture plans for top leaders (like CEOs) of companies. This is called "strategic management."
How Are the Big Three Different from Each Other?
Even though they are all top consulting firms, Bain, BCG, and McKinsey have their own styles:
- Bain & Company is often seen as more fun and practical. They focus on getting clear results for their clients.
- Boston Consulting Group (BCG) is known for being more academic. They use deep research and complex analysis to find solutions.
- McKinsey & Company has a reputation for being very serious. They sometimes use a similar approach for many different problems.
Their Impact on Business
These companies have greatly influenced how businesses work today. They have also helped develop new ideas and tools for understanding business. Two famous examples are the Net Promoter Score (a way to measure customer loyalty) and the BCG Matrix (a tool to help companies decide where to invest).
