Coopers & Lybrand's Business Model
1. Introduction PricewaterhouseCoopers, a leading professional services firm headquartered in London, United Kingdom is the largest multinational professional services firm providing service to 421 Fortune Global 500 companies & 452 FT Global 500 companies, thus clients range from some of the world’s largest multinationals to many small and medium-sized enterprises.
PwC has its offices in 776 cities across 157 countries and a global workforce over 184,235 people who are committed to delivering quality in assurance, tax and advisory services. For the year ending 30 June 2013, PwC’s global gross revenues were US$32.1 billion, up 4%, showing a strong performance in challenging circumstance. In Assurance the total revenue was US$14.8 billion,
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Robert H. Montgomery, William M Lybrand, Adam A. Ross Jr. and his brother T Edward Ross formed Lybrand, Ross Brothers and Montgomery in United States in 1898. In 1957 Cooper Brothers; Lybrand, Ross Bros & Montgomery and a Canadian firm McDonald, Currie and Co., agreed to adopt the name Coopers and Lybrand in international practice. Coopers & Lybrand expertise expanded in insolvency mainly by acquiring Cork Gully, a leading firm in the field in the UK. In 1990 in certain countries including the UK, Coopers & Lybrand merged with Deloitte Haskins & Sells to become Coopers & Lybrand Deloitte, which was later renamed as Coopers & Lybrand in …show more content…
Price entered into partnership with William Hopkins Holyland and Edwin Waterhouse in 1865. After a period firm was known as Price, Waterhouse & Co. By late 19th century Price Waterhouse had gained significant recognition as an accounting firm. Price Waterhouse opened an office in 1890 as a result of growing trade between the United Kingdom and the United States. In 1998, to put the firm in a different league altogether, Price Waterhouse merged with Coopers & Lybrand to form PricewaterhouseCoopers in an attempt to gain scales. The firm had a large professional consulting branch, as did other major accountancy firms, generating much of its fees. Though cyclical, Management Consulting Services (MCS) was the fastest growing and often most profitable area of the practice. The major cause for growth in the 1990s was the implementation of complex integrated ERP systems for multinational
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