The Corporate Executive Board (EXBD) generates over $400 million/year and operates in the consulting industry. EXBD was spun off from a company called the Advisory Board in 1997. EXBD isn't just any old consulting company though. EXBD is dramatically different than that what investors traditionally think are consulting companies: namely Accenture (ACN), Computer Sciences Corp. (CSC) or Electronic Data Services (EDS).
EXBD provides research, best practices guidance, and administrative education to C-level (Chief Executive Officers, Chief Operating Officers, Chief Financial Officers, Chief Information Officers, Chief Technology Officers and others) upper-level managers.
Through services as varied as best practices solutions, research studies, seminars and C-level support tools, EXBD enables upper-level management to make more informed and better decisions in areas of business as varied as Financial Services, Human Resources, Strategy/R&D, Sales and Marketing, Information Technology, Corporate Finance, Legal/Administrative, Operations/Procurement, and Corporate Communications.
Essentially EXBD is an executive network where upper-level management of other companies meet with EXBD's consultants to discuss – and solve – the biggest business problems, issues, and concerns that upper-level management has.
EXBD has one of the most defendable and sustainable moats that I've seen a business have in recent years. With its vast expertise in virtually every area that management would be interested in making more efficient, EXBD has a firm lock on the business of helping upper level management make their organizations' more efficient.
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