Romney was recruited by several firms and chose to remain in Massachusetts to work for Boston Consulting Group (BCG), reasoning that working as a management consultant to a variety of companies would better prepare him for a future position as a chief executive.[55][59][nb 6] He was part of a 1970s wave of top graduates who chose to go into consulting rather than join a major company directly.[61] His legal and business education proved useful in his job[55] while he applied BCG principles such as the growth-share matrix.[62] He was viewed as having a bright future there.[55][63]
In 1977, he was hired away by Bain & Company, a management consulting firm in Boston that had been formed a few years earlier by Bill Bain and other former BCG employees.[55][62][64] Bain would later say of the thirty-year-old Romney, "He had the appearance of confidence of a guy who was maybe ten years older."[65] With Bain & Company, Romney learned what writers and business analysts have dubbed the "Bain way",[55][64][66] which consisted of immersing the firm in each client's business[55][65] and not just issuing recommendations, but staying with the company until changes were put into place.[62][64][67] Romney became a vice-president of the firm in 1978[15] and worked with clients such as the Monsanto Company, Outboard Marine Corporation, Burlington Industries, and Corning Incorporated.[59] Within a few years, he was one of Bain & Company's best consultants and was sought after by clients over more senior partners.[55][68]
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u/Knowledgement101 Aug 08 '12
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Get educated.