Industry Challenges
Organizations engaging in community and economic development work on a wide range of initiatives, from creating jobs to providing social services to supporting businesses and partnering with governments. They therefore face a broad variety of challenges; this is true throughout the world. To generate the greatest impact, these groups must answer a number of key questions:
What impact are we trying to have and how do we measure it? What individual and family outcomes are critical?
What future strategy will allow us to maximize our impact?
Should we grow, either geographically or into different sectors? Should we partner with other organizations?
How do we improve our financial stability?
How can we improve our fundraising and identify new sources, especially in a difficult economic environment?
How can we attract and retain talent in our organization?
How do we improve our organization's governance and management?
BCG Competencies
BCG works with many different organizations in community and economic development and brings the full capabilities of the firm to every project. We partner with nonprofits, nongovernmental organizations, and city, regional, and national governments to accelerate development around the world.
In every initiative, we leverage the competencies of BCG’s functional practice areas and apply this knowledge to the challenges specific to community and economic development. Our key areas of expertise include strategy, operations, organization, marketing and sales, information technology, and corporate development. BCG’s strong change management and project management skills are also crucial in development efforts.
We utilize our integrated network of global experts for these projects, while local experts provide insights into the specific challenges in each system and type of organization.