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BCG History: 1988

Measuring Success by the Hour

After spending years studying manufacturing processes on the factory floors of Japan, George Stalk writes "Time: The Next Source of Competitive Advantage," which is published in the Harvard Business Review and wins the McKinsey Award for best article. Both the academic and business communities embrace the concept of time-based competition.

BCG Insights & Highlights

  • BCG gets its first major assignment in China
  • Through a second recapitalization, all of BCG's worldwide vice presidents become owners of the firm
  • In an elaboration on the concept of time-based competition, Tom Hout and Harvard Business School professor Joseph Bower write "Fast Cycle Capability For Competitive Power" for the Harvard Business Review
  • Offices opened: Madrid
  • Consultants = 428
  • Canada and the United States sign a comprehensive free trade agreement
  • Palestinians in the Occupied Territories begin a prolonged period of active resistance to Israeli rule known as the intifadah
  • Widespread strikes by Solidarity supporters take place in Poland. The Polish government begins direct talks with Lech Walesa
  • Benazir Bhutto is the first woman to be elected prime minister of Pakistan
  • Hundreds are killed when a terrorist bomb brings down a Pan American jet over Lockerbie, Scotland
  • Soviet troops begin to retreat from Afghanistan after a nine-year occupation
  • Eugene Antonio Marino becomes the United States's first black Roman Catholic archbishop when he is installed as head of the Atlanta archdiocese
  • Japan's Seikan Railroad Tunnel connecting Hokkaido and Honshu is opened. It is the world's longest underwater tunnel
  • The first digital cell phones are introduced
  • The first transatlantic optical fiber telephone cable to enter service links France, the United Kingdom, and the United States. It can carry five times the capacity of copper cable, or 40,000 conversations simultaneously
  • Crack, a cocaine derivative, begins to make its appearance on United States streets
  • An Internet virus designed by a U.S. student jams more than 6,000 military computers across the U.S.
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