2. “One firm - a
powerhouse of a
commercial enterprise
that does the right
thing for our
clients, our people and
our communities."
3. Corporate Aims - PwC
To be the market leader and the biggest and most
reliable advisory accounting force worldwide.
To lead ‘The Big Four’ (main competitors) in all
aspects including keeping up to date with
technology.
Maintenance of extremely high professional
standards to build exceptional and growing
reputation.
To do all of the above whilst doing It in the ‘right
way’ and giving back and helping the
communities and stakeholders they effect by
using the expertise and knowledge of markets to
build a stable relationship with the community and
government..
4. Finance - PwC
PwC has increased annual global
revenues by 10% to $29.2bn to
reclaim its position from Deloitte
as the largest accounting
network.
Strong growth of 20% in advisory
services, coupled with a solid 7%
increase in audit and 8% growth in
tax helped the network leapfrog
Deloitte, which reported 8% growth
to $28.8bn.
PwC International chairman Dennis
Nally said PwC's advisory growth to
$7.5bn was due to strong demand
in consulting, particularly in the
US, and strategic acquisitions.
Growth in Western Europe was 4%
and Central and Eastern Europe
5. Financial Analysis - PwC
PwC have managed to not only maintain their
outstanding revenues but increase them during
this recent economic recession.
They have done this by investing in their advisory
sector and concentrating on offering high quality
service in this area. They did this as their clients
will be wanting advice on how to keep their
business’ solvent and running in the modt efficient
way, considering the economic environment.
PwC definitely exploited this area of their services
and as we can see from the figures, growth of up
to 20% in advisory services from 2010-2011
shows how they used the recession to their
advantage.
6. Technology
PwC is at the pinnacle of their market in the technology
sense also, as they are extremely efficient at picking up
the new and most efficient computing software to keep
their services of a very high quality.
PwC are financially capable of taking such measures
therefore are in a very strong position, however technology
in this market is not as fast-changing as for example the
smartphone market, so competitors are all at a similar
position technologically, so it this element doesn’t really
determine their success.
A large part of their use of technology has been the
exploitation of displaying their research and setting up
discussion areas on social networking sites. They did this
in order for information to be accessed easily by clients
and also acts as a platform for customer discussion which
can be used as a type of market research. This element
can also be seen as a great marketing tool, due to the
ever-expanding social networking craze.
7. CSR
Offer affordable services to the not-for-profit sector.
By doing this, PwC show that they are a service that
is interested in the well-being of clients and this
definitely enhances their reputation of treating their
customers well.
They have various schemes in place to ensure every
part of their work is kept to a professional standard.
For example they have regular confidentiality training
sessions with employees to ensure all client
information is kept strictly confidential.
PwC see the importance of being socially responsible
and as a result, are not hesitant to spend on large
scale progammes. For example their ‘Whistle Blowing’
programme is a helpline that people can call if they
come across any unethical behaviour or bad business
conduct. This shows how PwC care about going
about their business ethically and ‘inn the right way’.
8. Porters 5 Forces
PwC feel he force
from the other 3
of the ‘The Big
Four’ as existing
competition.
9. Legal
Health and safety laws and ethical laws have not
really has a harsh effect on PwC as they have the
financial power to overcome such obstacles.
The only thing with laws being put into place is
that now competitors standards have been risen
to the same level as PwC, they ran the risk of
losing their reputation of being the company with
a good CSR, because every other company
operated in the same way.
PwC overcame this by going beyond what was
necessary and out of their way to ensure every
person they effect, whether it be a client or just a
civilian in the community they operate, is satisfied
with their services.
10. PwC merge
PwC is the merge of PriceWaterhouse and
Coopers and Lybrand.
The merger was a complete success, and since
their collaboration in 1998, they have been at the
forefront of the market.
This came with much criticism however. For
example it was seen to be a merger that ‘was not
in the public interest’ and done for the wrong
reasons. It was said to be a risky move that has
lead to a lack of choice in the audit market, and
the competition laws were keeping a close eye on
the potential size of the business that had been
created.
11. PwC merge
PwC went about this merge in exactly the right
way and ensured both parties were happy before
undertaking any decisions.
It turned out that their cultures were compatible
and the resources they both had to give and
expertise fitted perfectly with one
another, meaning client satisfaction was at an all
time high.
12. Where to use PwC as a reference in
your question
Have extremely good CSR with many examples
of programmes and schemes.
Financially, exploited their advisory sector of
business and have soared during the recession
as a result. Used this economic state to their
advantage.
Went through a successful merger.
Are very up to date with technology (computing
software and social networking)
