When he went into business for himself and opened an office in 1914, Ed Booz laid its foundation using new approaches to management.
One of the world's first management consulting firms originated in Chicago in 1914 under the leadership of Edwin G. Booz.
The company that was to become Booz Allen was founded in 1914, in Evanston, Illinois, when Northwestern University graduate Edwin G. Booz founded the Business Research Service.
Booz left the service in March 1919 as a major in the Inspector General's Office and returned to Chicago to start a new firm, Edwin G. Booz, Business Engineering Service.
In 1924, Booz changed the name of his firm to Business Surveys, to more accurately reflect his firm's focus: business surveys and subsequent analysis and recommendations.
In 1925, Booz hired his first permanent, full-time assistant, George Fry, another Northwestern alumnus.
In 1929, Booz moved his own office into the new Chicago Daily News Building and hired a third consultant, James L. Allen, who had just graduated from Northwestern.
By 1931, Avery was back on Business Surveys' client list, this time as chairperson of Montgomery Ward, which was losing sales to the new retail operations of Sears, Roebuck and Company.
In 1936, Booz, Fry, Allen & Hamilton was established.
During the following three decades, the company went through a number of name changes and business models, eventually settling to Booz, Fry, Allen & Hamilton, named after their partnership in 1936.
In 1940, the firm expanded into military consulting, when United States Navy Secretary Frank Knox, former publisher of the Chicago Daily News, hired the company to assess the Navy's preparedness for a major war and to evaluate the Navy's shipyards, telephone systems, and intelligence operations.
Fry resigned from the partnership in December 1942 to start his own consulting business, and Allen returned early the following year to a renamed partnership--Booz Allen & Hamilton, where he was asked to help mold the firm's organizational structure and chair a newly established executive committee.
By 1942, a growing percentage of the firm's billings came from government and military assignments.
In 1946, Hamilton died, and, the following year, Booz retired, leaving Allen as chairperson of the firm's governing board.
In 1951, Edwin G. Booz died, leaving behind a pioneering company on the verge of international expansion and diversification.
Edwin G. Booz died in 1951.
In 1953, Booz Allen landed its first international contract, an assignment to study and help reorganize land-ownership records for the newly established Philippine government.
The company received its first international contract two years later, in 1953, to help reorganize land-ownership records for the newly established Philippines government.
In 1955, a group of key Booz Allen partners formed Booz Allen Applied Research, Inc. (BAARINC) as a separate corporate entity.
The partnership was dissolved in 1962 and the company was registered as a private corporation.
By 1969, Booz Allen--the largest consulting firm in the United States--had more than 15 major or project offices on five continents, generating annual revenues of $55 million and earnings of $3.5 million.
In January 1970, the firm went public, following the lead of Arthur D. Little, Inc., which had initiated public ownership of large consulting firms a year earlier.
In 1972, the firm also established a Japanese subsidiary.
In 1978, BAARINC changed its name to Public Management & Technology Center (later becoming known simply as the Technology Center) and refocused its office automation, manufacturing technology, and space systems services, leading to work on the commercialization of space stations.
By 1980, Booz Allen's annual revenues had climbed to $180 million, having more than tripled in a decade, and the company was running a close second in United States consulting service billings to Arthur Andersen.
By 1983, recessionary conditions and an oil glut led to a profit slump for Booz Allen.
By 1987, government accounts--with the lowest profit margin in the consulting field--represented nearly one-third of Booz Allen's $340 in annual revenues at a time when defense spending was increasingly being targeted for budget cuts.
Before leaving Booz Allen, however, Farley established a firm-wide competition to select his successor in what proved to be, according to a 1988 Forbes article, a divisive and distracting ten-month process.
In 1989, the company launched a major expansion program of its computer systems integration (CSI) services for commercial clients, in an effort to expand its presence in the commercial computer systems and technology market.
In 1991, Booz Allen acquired the major assets of Advanced Decision Systems Inc., a California-based artificial intelligence company, which became a Booz Allen division.
In 1998, Booz Allen Hamilton developed a strategy for the IRS to reshuffle its 100,000 employees into units focused on particular taxpayer categories.
Booz Allen Commercial delivers advanced cyber defenses to the Fortune 500 and Global 2000.
Commercial Booz Allen Commercial delivers advanced cyber defenses to the Fortune 500 and Global 2000.
The Washington-based private equity company engineered the company's split from its commercially-focused cousin in 2008, and remains the largest shareholder.
In 2008, the commercial arm of Booz Allen split off to form Booz & Company.
In the fiscal year ended March 31, 2010, the company reported operating income of less than $200 million on revenue of $5.1 billion, as almost every dollar it brought in went out the door to employees.
Chairman Ralph W. Shrader was paid $1.2 million in base salary and a total of $3.1 million in fiscal 2012.
In 2012, Booz Allen purchased the Defense Systems Engineering & Support division of ARINC, adding approximately 1,000 new employees to its roster.
Booz has 24,500 employees, $5.8 billion in revenue for its 2013 fiscal year, $219 million in profits and a stock market value of $2.5 billion.
In 2013, Booz & Company was acquired by PwC and renamed Strategy&. Since then, Booz Allen has re-entered commercial markets.
In 2014, Booz Allen acquired Epidemico.
In 2018, the SEC awarded both Booz Allen and Attain a $2.5 billion contract to modernize how the SEC purchases IT services.
In February 2020, the company became the SEC's major provider of cybersecurity services by securing a 10-year contract worth $113 million.
|Company Name||Founded Date||Revenue||Employee Size||Job Openings|
|Science Applications International||1969||$6.4B||25,500||3,211|
|McKinsey & Company Inc||1926||$10.5B||30,000||3,698|
|Boston Consulting Group||1963||$7.5B||21,000||1,065|
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