Cra International, Inc. (NASDAQ: CRAI)

CRA International, Inc., also known as CRA, is a prominent global consulting firm that specializes in economic, financial, and management consulting services. Established in 1965, the company's headquarters are located in Boston, Massachusetts, with offices spread across the Americas, Europe, and Australia. CRA's main business activities involve providing consulting services to corporate clients and attorneys in a diverse range of industries. These services are categorized into two major areas: litigation, regulatory, and financial consulting, and management consulting.

In the litigation, regulatory, and financial consulting area, CRA offers services such as economic expertise, analyses, and expert testimony in fields like antitrust, damages, financial accounting, and intellectual property. The company also provides services in international arbitration, labor and employment, mergers and acquisitions, regulatory economics, and risk, investigations, and analytics.

In the management consulting area, CRA offers services that include corporate and business strategy, enterprise risk management, environmental and energy strategy, intellectual property and technology management, organization and performance improvement, and transaction advisory services. The company's management consulting practices provide a unique blend of industry and functional expertise to help companies tackle strategic, organizational, and operational business problems.

CRA's competitive strengths include its strong reputation for high-quality consulting, highly educated and experienced staff, international presence, diversified business, and integrated management approach. The company's ability to combine expertise in advanced economic and financial methods with in-depth knowledge of particular industries sets it apart from its competitors. CRA has developed a strong reputation and substantial name recognition within specific industries, leading to repeat business and new engagements from clients in those markets.

CRA's clients are diverse, comprising domestic and foreign corporations, federal, state, and local government agencies, governments of foreign countries, public and private utilities, accounting firms, and national and international trade associations. However, the company maintains a policy of keeping the identities of its clients confidential unless the work for the client is already publicly disclosed.

CRA employs approximately 1,004 consultants, consisting of 156 officers, 527 other senior staff, and 321 junior staff. The company's senior staff possess advanced degrees, with 41% of the advanced degrees being doctorate degrees, in addition to substantial management, technical, or industry expertise.

In terms of human capital, CRA places a strong emphasis on the quality and diversity of its employee consultants. The company is highly selective in its hiring process, recruiting primarily from a select group of leading universities and degree programs, industry, and government. CRA's recruitment process evaluates an individual's experience, skills, and potential for growth, and the company annually meets with its interviewers to discuss effective interviewing strategies.

CRA's employee consultants participate in structured programs focused on managing teams, technical and empirical knowledge, and building client relationships. The company also provides scheduled courses designed to improve an employee's professional skills, such as written and oral presentation, marketing techniques, feedback discussions, and business development. Additionally, CRA encourages its employee consultants to pursue their academic interests through self-directed training modules, its on-demand library of software webinars, and external professional development and continuing education opportunities.

In terms of marketing and business development, CRA emphasizes building and maintaining relationships, cultivating brand awareness, and generating leads for new work. The company encourages its employee consultants to generate new business from both existing and new clients, and rewards them with increased compensation and promotions for obtaining new business. Many of CRA's consultants have published articles in industry, business, economic, legal, or scientific journals, and have made speeches and presentations at industry conferences and seminars, which serve as a means of attracting new business and enhancing their reputations.