This short essay is based on an Harvard Business School article published 2004 “Strategic Review at Egon Zehnder International (A)” by Morell & Nanda. Egon Zehnder’s strategy resonates mainly between two poles: “Clients first” and the “One firm partnership concept”. Like the earthly poles, there lies a field in-between and both poles might over the years also shift (if not switch one day). The internal focus clearly impacts the way Egon Zehnder is perceived (from different stakeholders in different ways of course) and the people who now became partner (through a strict selection process) talk to the clients in a way that clients feel “really being first”. Looking at the current partners of Egon Zehnder they all have a solid background and worked for top notch fortune 500 companies, so it seems to be fair to assume that they speak the language of the clients and might often know their customers from previous jobs or business schools they attended.
Inhaltsverzeichnis (Table of Contents)
- I. Identify EM's mission strategy
- II. What are EZ's competitive advantages
- III. What is the purpose of revisiting its strategic mission?
- IV. What actions would you suggest to consolidate EZ's mission, secure its positioning in the face of its competitors and sustain its international expansion?
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay explores the strategic review of Egon Zehnder International, a global executive search firm, twenty years after its inception. The analysis delves into the company's mission, competitive advantages, and the purpose of revisiting its strategic direction in the face of evolving market dynamics. The essay aims to evaluate the firm's strategic choices and assess its readiness for future challenges.
- Egon Zehnder's mission and strategic approach
- Competitive advantages of the firm
- The need for strategic review and adaptation
- The impact of digitalization on the executive search industry
- Potential actions to consolidate the firm's mission and secure its future
Zusammenfassung der Kapitel (Chapter Summaries)
- I. Identify EM's mission strategy: This section examines Egon Zehnder's core mission and strategy, characterized by a client-centric focus and a "One firm partnership concept." It highlights the firm's commitment to finding the best leaders for its clients and its consistent growth over the years.
- II. What are EZ's competitive advantages: This section analyzes Egon Zehnder's competitive advantages, including its strong network of partners, a rigorous selection process for employees, and its reputation for delivering high-quality services. It also discusses the potential limitations of low turnover and the need for adaptation in a fast-changing business environment.
- III. What is the purpose of revisiting its strategic mission?: This section explores the paradox of a successful firm facing the need for change. It emphasizes the importance of strategic review as a tool for assessing the company's position, identifying opportunities and risks, and adjusting course to maintain its competitive edge.
- IV. What actions would you suggest to consolidate EZ's mission, secure its positioning in the face of its competitors and sustain its international expansion?: This section delves into potential actions for Egon Zehnder to strengthen its position and navigate future challenges. It highlights the importance of embracing digitalization, fostering a culture of innovation, and potentially adapting its hiring practices to attract talent suited for a rapidly evolving industry.
Schlüsselwörter (Keywords)
The essay focuses on key concepts such as strategic review, mission, competitive advantage, digitalization, executive search, and the challenges and opportunities of a rapidly evolving business environment. It explores the intersection of traditional strengths with the need to adapt to contemporary market dynamics, highlighting the importance of strategic foresight and agility for long-term success.
- Quote paper
- Guenther Klein (Author), 2021, Egon Zehnder’s strategic review freed from dust 20 years later. Hindsight is easier than foresight, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/1142084
