Mckinsey

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Mckinsey

  1. 1. BYSAI AKHILESH(118923)
  2. 2. 1. Introduction2. The McKinsey Way of Thinking 1. Building the solution 2. Developing the approach 3. 80:20 and other rules3. The Mckinsey Way of Working to Solve Business Problems4. The Mckinsey Way of Selling Solutions5. Surviving at Mckinsey6. Life after McKinsey7. Growth Model of Mckinsey.
  3. 3.  McKinsey & Company was founded in Chicago in 1926 by James O. ("Mac") McKinsey, an accounting professor at the University of Chicago, Booth School of Business, who pioneered budgeting as a management tool. 84 offices in 89 countries 100 of the top 150 organizations 90% of governments have consulted them The Mckinsey Way book is writthen by Ethan M Rasiel
  4. 4. Firm’s problem solving process has three attributes Fact based Rigidly structured Hypothesis driven
  5. 5.  The problem is not always the problem Don’t reinvent the wheel Frameworks - focus their thinking on the drivers of the problem Trust and Verify Don’t make your facts fit your solution Make sure your solution fits your client Finite resources everywhere Toll guarding the bridge – understand politics
  6. 6.  80:20 rule is all about data and analysis Find the key drivers – drill to the core of the problem – focus and ignore Make a chart everyday – review learning gained Look at the big picture Just say ‘I don’t know’ Don’t accept I have no idea - Probe
  7. 7. 1. McKinsey does not sell; it markets2. Be careful what you promise: Structuring an engagement3. Team Morale – never blame, self pity4. Practice development5. Make your boss look good6. Manage hierarchy7. Listen, Guide, Paraphrase8. Make interviewee feel reassured9. Write a Thank you note always10. Brainstorming
  8. 8. 1. Structured presentations2. Internal Communications – keep info flowing3. Confidentiality4. Working with clients – keep them on our side5. Deal with hostility6. Engage client7. Be rigorous about implementation8. Review Projects and learning9. Contribute to the databases
  9. 9.  Find a mentor Respect people Respect the support staff Recruiting style: Analytical, Judgment, Ethical, Fit with Firm, Academic track record, Above average IQ
  10. 10.  Valuable lessons  Preserve your integrity  Be humble  Be Objective  Politics STARTS with YOU  Professionalism  Rigorous standard of information  Relentless drive for excellence NOT perfection  Power of Team Thinking
  11. 11.  MAKE YOUR BOSS LOOK GOOD ASSEMBLING A TEAM DON’T ACCEPT “I HAVE NO IDEA LOOK AT THE BIG PICTURE MAKE A CHART EVERY DAY MAKE SURE YOUR SOLUTION FITS YOUR CLIENT DON’T REINVENT THE WHEEL
  12. 12. The McKinsey model argues that businesses should develop their growth strategies based on: Operational skills Privileged assets Growth skills Special relationships
  13. 13.  Existing products to existing customers Existing products to new customers New products and services New delivery approaches New geographies New industry structure New competitive arenas
  14. 14.  The mckinsey way book by Ethan M Rasiel. The mckinsey growth strategies, from http//:www.tutor2u.commckinseygrowthstategies. The mckinsey way from The MBA dairy of Ethan M Rasiel.

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