Our Business Model and Process
The success of a company’s business model can be measured in many ways; sustained growth is one very telling yardstick. Our net income has grown substantially since 1988, as evidenced by the growth curve below. Our ability to grow our business stems from a combination of merger/acquisition activity plus continued improvement of our market share in the diversified sectors we serve. The business we operate in is very fragmented; no one competitor has significant market share. Through our strategic diversification, we believe our long-stated growth objective of 15 percent per year at the bottom line is quite realistic.
We attribute this successful growth and expansion to our unique business model--a relationship-based approach with approximately 65 percent of our work derived from long-term relationships. This differs dramatically from the conventional industry model that relies heavily on discrete and transactional projects, as shown in the chart below. Working in tandem with our clients rather than as adversaries, our relationship model supports their continued growth, improved profitability, and market advantage in brutally competitive industries. This in turn reinforces the value of our business model and ensures our continued growth and success. For us, consistent earnings growth, manageable risk, lower sales costs, and a more predictable revenue stream have resulted.
Two important philosophies support our business model: a multidomestic approach and a boundaryless approach. In our multidomestic approach we work in many countries from locally staffed offices that share a common set of values and a single vision, while maintaining one-on-one contact with individual clients. This provides customized service suited to the locale. To better serve our clients, we position ourselves in countries where they plan to invest in the future. Our global diversity enables us to provide those clients an established local presence and strong business knowledge, reducing risk and ensuring project success.
To be the best we can be in each location, we also apply a boundaryless approach. This means that we augment local expertise with the best technology and brightest talent the company has to offer regardless of home office location. So our diversity extends beyond geographic reach and technical capabilities to our people. Our success is tied to being flexible and boundaryless: In every case, we must be ready to do whatever it takes to achieve the best solution for our client.
Our model is only successful when we are committed to superior performance at every level of the organization, and our clients trust us to guard their interests as our own. This trust comes when our people consistently identify, address, and satisfy our clients' business and project needs. To do this effectively, we provide our workforce with many tools such as those highlighted below:
The fundamental traits of our business model drive our decision-making and strategic initiatives; they also indicate what makes us unique and what we deem critical to our success. In combination, this value system is evidence of our commitment to meeting people’s needs whether they are client, shareholder, or employee.
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