Booz Allen was selected as a Devex Top 40 Development Innovator based on a poll of thousands of global development professionals who are part of Devex, the largest network of aid and relief workers in the world.
Announced on April 18, Devex Top 40 Development Innovators is an impressive listing of the world’s leading donor agencies & foundations, development consulting companies, implementing NGOs, and advocacy groups.
We asked each of the Innovators four questions to learn how they stay ahead to the curve and tackle old development challenges in new ways. Here’s how Booz Allen responded:
‘For nearly a century, Booz Allen has used its management consulting best practices to advance economic development around the world’
If you had to condense it to just one or two sentences, overall, what is it that makes your organization innovative?
For nearly a century, Booz Allen has used its management consulting best practices to advance economic development around the world. We believe that tools and experience from advanced analytics, change management, organizational behavior, strategy and technology can make development programs more targeted and more effective in achieving objectives.
Can you provide a specific example of something your organization has done that is particularly innovative?
Booz Allen has helped central banks in developing countries understand the financial sector and “real economy” risks and adopt policies that can stave off financial crises. As part of this work, our firm developed a model that simulates what happens to a banking sector in times of stress and how “contagion effects” can be controlled. Working on a project for a development agency, one of our analysts noticed that there were some similarities in how a financial sector responds to an economic shock and how food markets respond to a food security shock. Based on this insight, Booz Allen invested money to develop a food security and nutrition model using data from Ethiopia. Policy experts who have looked at the tool believe it could be an exciting innovation in planning for, and responding to, food security emergencies. We believe that our ability to carry over insights from one client or technical area to another is one of our key strengths.
Looking ahead 10 years, what are some of the innovations in international development that your organization wants to be a part of?
Booz Allen consultants want to be a part of helping the development community and policymakers understand and address the critical issues surrounding global development. Infrastructure development and the growth of urban areas, food and energy availability, climate change, the growing role of the developing work in global trade and financial flows, and the effectiveness of government institutions are all essential issues of our times, and Booz Allen has experience working in each of these areas.
One factor in driving innovation at any organization is the talent you hire and the partnerships you make. How does your organization take into account innovation when it comes to cultivating talent and partners?
Booz Allen hires smart people, then pairs them with senior consultants and people with deep expertise in specific countries and regions and with specific client organizations. The result is great management consultants with strong analytical and organizational skills, who are also very familiar with economic development best practices. When it comes to business partners, we to look for partners who excel in areas that compliment and add to what Booz Allen has to offer. By joining forces, we bring a unique set of skills to a problem.
Check out the full listing of all Devex Top 40 Development Innovators on Facebook.