McKinsey, How it operates

What it does?
Functions
solutions
orgsolutions - organization structure based on data, organization health index to know where organization stands on global benchmark.
Talent match - a talent and value linkage, providing the people profile information in a fluid manner to determine succession and promotions.
People analytics - Replace instinct and intuition with data based decision for identify, attract, develop and retain talent. This results in increased vigor, reducing bias.
outcomes - 80% reduction in hiring time for a bank, 50% decrease in attrition rates.
Five Fifty
Soft skills for a hard work
Better decisions
The Changeable organization
Getting Small
- Independence
- carry out functions without formal budgetary requests
- minimal dependencies on internal functions
- Authorized to conduct activities without first seeking approval
Meeting time
Call your broker - (important for linking silos)
Insights
.https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/bias-busters-avoiding-snap-judgments​
Halo effect. The structured interview does not prohibit the use of executive intuition, but it can usefully delay it.
Jobs available at McKinsey
Agile coach
Associate
Engineering (Data, programming, DevOps)
Architects
Analysts (Capabilities and insights, business)
Business model
.http://www.dpvgroup.com/wp-content/uploads/2009/11/1988-A-Business-is-a-VDS-McK-Staff-Ppr.pdf​
.https://digital.hbs.edu/platform-rctom/submission/mckinsey-company-an-operating-model-perfected-through-decades-of-refining/​
Core assets - people
Task - Create improvements to an organization
1.Substance and relevant - the change is relevant at the organization level, ideally CEOs priority
2.Measurable - the effects of change to be measurable, ideally quantitatively
3.Sustainable - the change should persist after McKinsey team leaves
Continuously evolving operating model
1.Technical System
Hardware of the company
- Relationship manager partner, ensures connection between CEO top priorities and core-on-the-ground team
- small dedicated teams supported by wide expert network
- a research arm, ensures most cutting edge solutions / innovative traditional "game-books" are available
2.Management Infrastructure
Includes performance as well as talent management.
Performance - Metrics for the team such as for the analytical problem solving skills, whether the consultant is able to step back from a problem mindset to think it through the CEO mindset
Talent management - every interviewee is subjected to the problem faced by a top level executive of the company, with no guidance on information availability.
3.Mindsets and behaviors
Ownership of the problem - the core consultant team "own" the problem
Continuous learning - McKinsey tracks whether its previous recommendations lead to actual sustainable improvement to the client.
.https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/McKinsey%20Digital/Our%20Insights/Introducing%20the%20next-generation%20operating%20model/Introducing-the-next-gen-operating-model.pdf​
Client selection
Systematically identify and manage risk before committing to a client project
Internal frameworks, dedicated oversight and decision making support
Unintended consequences of any proposed work, including potential negative impact to individuals, with particular emphasis on vulnerable populations
Global Client Service Risk Committee (CSRC), for escalating the potential risk client to evaluate whether to accept or reject work
.https://www.mckinsey.com/about-us/social-responsibility/client-selection​
Scandals
.https://www.bloombergquint.com/gadfly/opioid-epidemic-mckinsey-s-settlement-is-a-warning-to-all-consultants​
.https://www.cdc.gov/injury/features/prescription-drug-overdose/index.html​
Company acquisitions
Quantum Black - Advanced analytics firm. QB have already proven its competence with Formula 1. It operates at the intersection of strategy, technology and design.