[ad_1]
Citing the rapidly changing business environment, Bain & Company has launched a new practice to support entrepreneurs and organizations with innovation and business building.
The new Next-branded global strategy consulting unit brings together more than 200 of its experts from its 60+ offices worldwide to support founders and executives with innovation and expansion.
Bain & Company says its assembled team of strategists, designers and engineers has played a key role in startups, innovation labs, venture-backed firms and other high-growth environments, with expertise in areas such as human-centered design . , software engineering, advanced analytics, digital marketing and user experience and many more.
Most importantly, says Bain, Next works closely with clients, not for them.
“Deep understanding of the customer is the single most important component of innovation and growth,” said Mikaela Boyd, Next’s Americas leader. “At Bain, we go so far as to call ourselves ‘customer obsessed.’ Our work at Next often starts with helping our clients understand the core needs of customers and potential leads, and then determining how and where they are best positioned to uniquely address those needs in new and different ways.”
Beyond the initial innovation phase, the new practice focuses on supporting entrepreneurs and industry disruptors in the subsequent stages of product and business building, including creating – iterating solutions to ensure market fit, making critical decisions about building, partnering and purchasing, and building a team that can deliver .
Then, Next supports with scale; accelerating customer adoption in new segments and geographies and continuous improvement to realize growth.
According to a recent study by McKinsey & Company (which also has a venture capital practice called LEAP), business leaders expect half of their company’s revenue to come from new products, services or businesses by 2026, with one in five considering new ones. building a business their top priority.
“The most successful companies are deeply committed to building the future,” said Dunigan O’Keeffe, head of global strategy at Bain. “They combine a bold insurgent mission, a passionate customer focus and an overall ownership mindset for speed and scalability; we call it the “founder mentality”. Over the past few years, we have partnered with hundreds of founders of large corporations and startups to bring this mentality to their businesses.”
Next’s leaders include two members of the Asia Pacific company: Steve McGrath and Michael Egan, APAC heads of Business Building & Corporate Innovation and Innovation & Design, respectively.
Bangkok-based partner Egan was one of those who helped incubate Next itself. He has been with Bain since 2018, after a previous four-year stint at the firm between Sydney and Los Angeles. An expert in digital transformation and product development, Egan also previously served as CEO of Spark Networks, where he partially turned the company around by refocusing it on delivering successful UX and products.
Singaporean McGrath has been with the firm as a partner since the middle of last year. After early consulting careers at Accenture, Boston Consulting Group and Capgemini Invent, McGrath has spent the past two and a half decades successfully founding and exiting a number of start-ups and investing in innovative businesses. Prior to joining Bain, he also served as President of North America and China at Shell Ventures.
[ad_2]