The shift towards this approach gained momentum with the publication of The Value Imperative by McTaggart, Kontes and Mankins in 1994. Customer Value, Shareholder Wealth, Community Wellbeing: A Roadmap for Companies and Investors. ^ Kilroy, Denis Schneider, Marvin (2017).^ "CRA International Acquires Marakon Associates, A Leading Value Management Consultancy".^ "CRA International Announces Anticipated Acquisition of Lexecon Ltd Expected Acquisition of U.K.-Based Firm To Strengthen CRA's Global Competition Practice Expand European Footprint | CRA International Inc".^ "CRA International Completes Acquisition of the Former Lexecon Ltd Business Acquisition of U.K.-Based Economic Consulting Firm Expands CRA's Global Reach And Strengthens Competition Practice"."Broadcom's Hot IPO May Have Blazed Trail for Others". In 2018, 44 CRA experts across five practice areas were recognized by Who's Who Legal. The 2023 edition of Global Competition Review's GCR 100 placed CRA's antitrust & competition practice in highest tier of economic consultancies. Accolades Ĭharles River Associates was ranked as the 5th best firm for economic consulting, and 30th best for consulting overall in Vault's 2023 survey. The study argues that the reports written by CRA "played a key role in weakening, delaying, or defeating a wide range of climate policies". According to a 2021 study, flawed economic forecasting reports written by four economists at Charles River Associates between 19, and paid for by fossil fuel interests, overestimated predicted costs and ignored potential policy benefits. CRA's work forecasting the impact on employment of the 2003 Climate Stewardship Act was criticized by the Natural Resources Defense Council in 2005 for using unrealistic economic assumptions and producing directionally incorrect estimates. CRA called the Clinton administration's projections for costs of compliance with the Kyoto Protocol wildly optimistic, and argued that compliance would take a "healthy whack out of the economy". Prior to the 1992 Earth Summit in Rio de Janeiro and the 1997 Kyoto summit (that led to the Kyoto Protocol), the fossil fuel industry used reports authored by CRA and funded by the fossil fuel industry to argue that US compliance with climate policy would be economically disastrous. Economic forecasts used to oppose climate policymaking In 2022, CRA acquired life sciences firm bioStrategies Group and labor-focused firm Welch Consulting. In 2017, CRA acquired life sciences strategy firm C1 Consulting. Under this principle, senior executives should set performance targets in terms of delivering shareholder returns (stock price and dividends payments) and managing to achieve them. This management principle, also known as managing for value (MFV), states that management should first and foremost consider the interests of shareholders when making management decisions. Marakon Associates was founded in 1978 and pioneered value-based management (VBM) from the mid-1980s based on the academic work of Dr. Marakon, which CRA acquired in 2009, forms part of their management consulting practice. In 2005, CRA acquired economic consultancy firm Lexecon to expand its practice into Europe and the United Kingdom. The company went public through an initial public offering in April 1998. History ĬRA was founded in 1965 by Jerry Kraft, John Kaler, and Alan Willens. Their practices include: antitrust & competition economics, auctions & competitive bidding, energy, finance, financial economics, forensic services, intellectual property, labor & employment, life sciences, Marakon (management consulting), risk investigations & analytics, and transfer pricing. The firm provides expert testimony and litigation support, strategic advice, and analysis to law firms, corporations, accounting firms, and governments. Charles River Associates (legally CRA International, Inc.) is a global consulting firm headquartered in Boston.
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