Organization : Accenture.
Course: PGCBM – 32
Name of the faculty: Sanjay Patro
Subject: Products and Brand Management
Mr. Basil Shakir Hashmi
SID : DB17008
SMS ID.: – 2235436
Name of center: – Whitefield Bangalore
ACCENTURE – High performance Delivered……
Accenture is a global management consulting and a professional services company that provides a vast range of services to its customers such as consulting, digital, technology and operation services. It is listed in Fortune Global five hundred companies and has its headquarters situated in Dublin, Ireland. The name Accenture is derived from “Accent on the future”.
History: Accenture first laid its foundation under the name of Arthur Andersen in Business and technology consulting of accounting in the early 1950s. In 1989 Arthur Andersen and Andersen Consulting became separate entities of Andersen Worldwide Société Cooperative (AWSC). In end of 2000 Andersen Consultancy broke all ties with AWSC and christened itself As Accenture as on 1st of January 2001.
My Tenure with Accenture: I am currently working with Accenture since the past four years with their software division. I had joined as a lateral joiner and have since then become a Team Lead with a few resources working under my supervision.
(a) Size of the organization both in term of turnover and number of employees
This year Accenture has reported a net revenue of $36.9 billion with more than four lakhs twenty-five thousand employees serving clients in more than two hundred cities across one hundred and twenty cities. In India alone there are around 2 Lakh employees working followed by 60,000 employees in Unites states of America and then followed by around 70,000 employees in Philippines.
(b) Sector of operation
The main verticals in which Accenture operates are Services and operations and BPO and to name a few, listed below is the list of its services and operations:
• Accenture Strategy ? provides business strategy, technology strategy and operations strategy services.
• Accenture Consulting ? provides technology, business and management consulting.
• Accenture Digital ? provides digital marketing, analytics and mobility services.
• Accenture Technology ?focuses on technology solutions, implementation, delivery, and research and development, including its Technology Labs for emerging technologies.
• Accenture Operations ? business process outsourcing, IT services, cloud services, managed operations, security and infrastructure services.
The company operates a National Security Services business as well.
(c) Ownership details such as listed, MNC etc.
The total shareholders are around 1,177 with a total of 490,449,014 shares.
(d) Years of operation
Accenture has been operating under this name since 1st January 2001 and will be completing 17 years of its execution by the end of this year.
(e) Names of departments with approximate number of employees in each.
Departments Total employees Employees in India Employees in Bangalore
Consulting 50,000 30,000 10,000
Technology 2,50,000 1,25,000 60,000
HR 10,000 2,000 500
Marketing 50,000 7,000 2,000
Administration 25,000 10,000 4,000
Finance 30,000 10,000 4,000
(f) Rate of growth during recent three years
Accenture’s growth rate is expected to rise around 5 to 8% in 2018 which is around 2.5 times of rest of the Indian IT companies. This year the revenues have been around 36 Billion US dollars, and when compared to the previous two years, the revenues have gone up from around 32 Billion US dollars in 2015 to 34 Billion US dollars in 2016. Each year it had seen around 5 to 6 percent increase as compared to the previous years.
(g) Other relevant information that make your organization unique
With a tagline of “High Performance Delivered”, Accenture role is mainly defined as to how they participate in the technology ecosystem ; engage with businesses across the world to dive change and at the same time deliver sustainable economic growth. For Accenture, the clients form an integral part of their growth hence a very comprehensive system exists where continuous feedback from clients helps Accenture develop their employees and upskill them in technological knowledge.
(h) Business challenges faced by the organization etc.
The main challenges that Accenture face’s is due to the Indian IT industry because the cost of labor being very less in India, Indian IT companies are not charging as much as what Accenture charges to its Clients. Accenture does not compromise on the process which it follows and believes to deliver high performance.
Founder of Accenture.
Arthur E. Anderson was the founder of Arthur Anderson which later was separated and resulted in the birth of Accenture in 2000. Arthur was born in 1885 n Illinios in the United States Of America. He died in the year 1947.
Chairman and CEO of Accenture.
Pierre Nanterme was born in France in 1959. After serving the military he joined then Anderson Consultancy in 1983 as the head of banking and fiancé in France.
1993 – he became the partner in the firm
1993 – 2005 – Global Managing Director.
2005 – Country Managing Director
2007 – Apoitned as group Chief executive of Accenture financial services.
2011 – 1st January he officially took over the office of CEO
2013 – Took additional role of Chairman.
Why is branding Important.
Brand not only deals with the Logo or the graphics which they use to represent themselves in the market, it deals with everything right from the logo to the website , through the experiences from social media to the way how the customer services interacts to the clients. All these things together come and play the role of Brand formation with in the market. In other words one can say it is the way how the customer make a perception about the organization.
Brand plays a very important role for a business to do well in the market. It is the brand name which attracts people to it and it is the brand name by which customers feel themselves related to. Customers become loyal to the brands which they feel comfortable and can say that they blindly trust it without giving a second thought. In todays world there is so much competition that it becomes difficult for companies to meet up to their own brand values. They have to put in a lot of efforts, innovation to hold that position in the market as well as in the hearts of their customers. For example, the customers who are loyal towards Apple products always go ahead and are the first ones to buy whenever a new iphone is released in the market. This shows the trust which they have with the brand and are sure that whatever product that particular company with launch, it will be no doubt good. Apple products being very expensive when compared to the mobile phones which other manufacturers produced, they know that their products will sell. This confidence only comes in when they know that their brand names holds a very high place in hearts of their customers. This is how brand helps one set themselves apart from others in the market and always give you a upper hand in the competitive world.
Once the brand name is well known, it also gives its employees the motivation to work more hard in keeping the name of the brand high as it is and they work with more enthusiasm and more motivation to deliver better products in the market. They have that push which helps them work hard. It easier to give direction to the employees as to what and how a job is to be done.
The brand not only represents the organization and the owner or the CEO but it also represents the staff, the employees who work behind the scene, the customer service employees, the house staffing as well.
The brand also plays a vital role in connecting the customers with it by connecting them to it emotionally.
A Strong brand will always provide more business value. For example if take Lays, a person will always buy a packet of lays kept in a shelf among a bunch of other chips. It is the value which it has created. Being even expensive than others and offering lesser quantity, it still holds the largest market share.
Accenture and its Branding.
Earlier known as Anderson Consulting, it was later rechristened and adopted the name Accenture. The word Accenture is derived from “Accent on the future”. It indicates that it always on the go on moving towards future. This name was submitted by Kim Petersen, a Danish employee as a result of an internal competition. Being 2-decade old organization at that time, it was important for them to adopt a new name and form a new identity in the market.
It took around three to four months for them to finalize this name after a lot of intensive research and a lot of analysis processes which involved around thousands of employees. Employees around the world from 49 countries had been a part of this research who knew the firm the best among its all aspects. The main criteria to short list the new brand name were that of positioning, personality criteria for the firm, trademark and URL availability, cultural sensitivities and local market pronunciation. A lot of brain storming was also done among its top employees along with its partners and legal law firms.
The entire process which went for its naming right from its conceptualization, analysis followed by research to its final name selection took hardly three months to complete.
NEW APPLIED NOW: ACCENTURE BRAND REFRESH
Innovation is the key word now which Accenture is using for branding. With the rise in competition in the service based industry, each company has the resources to buy products such as ERP tools and deliver them to their clients or to provide services to their clients. Accenture has always stood apart among its rivals for the outstanding work and performances. Accentures Tagline “High Performance Delivered” itself says that they work hard in providing the best solution with the best performance with the best optimal solution which can be available in the market. Accenture has does not compromise with the quality of work which they do and give the best solution of what so ever be the requirement of the client.
With the ease of availability of resources and coding platforms, each company in this industry has the access to such softwares and deliver products to various clients. It becomes difficult for each organization to stand apart. Thus keeping this under consideration, Accenture has come up with innovation as a form of re branding itself . A lot of efforts have been put in along with a lot of capital investment. IT has now reimaging itself to help its clients transform their businesses through disruptive innovation. They needed their brands Identity to evolve in order to reflect the ways in which this new approach would help shift the markets perception brand. This would also aspire and inspire the employees to drive innovation in their day to day life and in what ever they do in office.
After a lot of brainstorming and working along with team cross agencies, a new concept though a simple but powerful idea was developed: New Applied Now. NEW powerful innovations, APPLIED with deep industry knowledge, insight and design thinking, at the speed and relevance of NOW. The goal was to reflect this unique ability in the brand’s identity and use that as a catalyst for change and engagement among C-suite clients, employees and potential recruits alike
This new identity has been designed to be more flexible and dynamic. a core set of brand principles reflect the way Accenture thinks – in a bold, optimistic, energetic, dimensional fresh and vibrant way. fresh and vibrant way.
This concept of the new identity was first laid in January 2017 in the world Economic Forum in order to provide an immersive brand experience.
Accenture has come up with an innovation center in Bangalore mainly for its branding purpose. In it, it brings together the innovation capabilities under one location under one roof. It includes teams which are involved in research, labs, ventures, studios, innovation centers and advanced technology centers along with industry experts.
Right from digital, artificial intelligence to cloud and security, the speed of technology disruption is even faster than before. Accenture is helping in re shaping markets, industries and businesses.
Teams are working hard to identify and anticipate the trends in technology which will impact businesses. Teams with in Accenture can incubate new concepts through various research and development projects
Accenture has been also focusing on using the latest technology in order to provide its customers the best optimal solutions with the least efforts to be put in. For example if we take the ERP tool SAP, Accenture has started to migrate from their existing ECC systems which used to have oracle database to S4/HANA database. It is much more fast and easier to fetch data at run time. It also takes less time as compared to the older versions of Database. Similarly, Accenture is updated with the latest version of each software in the market.
Accenture has also focused lately on automation and innovation at delivery level where it has made compulsory for each of its employee to work on automation/innovation. It is not necessary to be related to the project work but could be anything which could benefit the organization in one or the other way.