SEASON 3
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

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

Core assets - people
Task - Create improvements to an organization
  1. 1.
    Substance and relevant - the change is relevant at the organization level, ideally CEOs priority
  2. 2.
    Measurable - the effects of change to be measurable, ideally quantitatively
  3. 3.
    Sustainable - the change should persist after McKinsey team leaves

Continuously evolving operating model

  1. 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. 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. 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.

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

Scandals

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.
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What it does?
Functions
solutions
Five Fifty
Insights
Jobs available at McKinsey
Business model
Continuously evolving operating model
Client selection
Scandals
Company acquisitions