Finding the right growth prescription

A view of the financial district from the Bund in Shanghai on Sept 20.The city has played a lead role in attracting foreign investment and is now the second headquarters for several multinational companies. Foreign consultancies like BCG have also benefited from China's rapid economic growth with a slew of business opportunities. [Provided to China Daily]

Adaptiveness can help firms tackle uncertainty and volatility, BCG president says

New challenges and intense competition can often prove to be tough for most companies. But they also provide an opportunity of a lifetime for success, says Richard Lesser, global president and chief executive of the Boston Consulting Group.

"The more the world changes, the more you can't use the past to guide the future. To win in this world of uncertainty, there is no magic bullet, but just 'learning, learning and learning'; 'adapting, adapting and adapting'," said the head of the US-based global consulting firm.

Lesser, who took the helm in 2013, said that though the task appears to be easy, it is not so, and companies need someone from the outside to guide them through the maze.

"They need companies like BCG who can help them with their wealth of global wisdom and extensive local insights."

Though most people would dismiss such claims as hyperbole, Lesser begs to differ. "About 90 percent of our over 400 employees in China are Chinese. We have 850 partners in 50 countries, and about 70 percent of them are based outside the US," he said.

"We do not represent or belong to any particular country. We are not a German firm or a US firm. Instead, we would like to be known as a global partnership. Our focus is on building local capability, local talent and then infusing them together to provide the best expertise," said Lesser.

"I think our clients also realize this. They see that our teams in China are mostly Chinese, but also see inputs from Europe, US, and India. We do the same in other markets. This is the spirit and essence of BCG," Lesser said.

Lesser, a frequent globetrotter, said that BCG became the first global consulting firm to get a license in China in 1993. Since then BCG has been recruiting locally and training massively in China and focusing on having a diverse cross-section of views.

"Our partners meet twice a year and share and learn from each other's experiences," he said.

Though meetings are an essential part of the learning process, the BCG ethos frowns "blue-sky" thinking or ideas that clients cannot use, or are something that they already know, said Lesser, adding that the emphasis is on "ideas that can really drive the change".

Christoph Nettesheim, senior partner and former managing director of BCG Greater China, said that unlike other firms, BCG does not deal with companies who just want to outsource some work "to get things done without our views".

Lesser said: "That is not our type of work or business. We are direct and candid with all our clients. We have told many companies that if they know the answer to their problems and are just looking for a consultant to put their stamp of approval on it, then we are not the right persons for it.

"We are the people that companies turn to when they encounter difficult situations and need customized solutions along with a dedicated set of consultants working with them."