Presentation on book "The Mckinsey Way" I have tried to cover key points described in book on How Mckinsey manages the company and culture of the organization.

1. THE McKINSEY
WAY

2. Agenda
1. Introduction to The Mckinsey Way
2. PART 1: The McKinsey Way of
Thinking
1. Building the solution
2. Developing the approach
3. 80:20 and other rules

3. The McKinsey Way
• The world's most recognized consulting brand
• 1923
• 84 offices
• 89 countries
• 7000 professionals
• Consulting most of the fortune 500 companies.
• 90% of governments have consulted them
• Top CEO’s and authors emerge from the FIRM

4. The McKinsey Way
• All assignments or projects known as
Engagements and customers as Clients
• Associate: Entry - Level
• SEM: Senior engagement manager.
• ED: Engagement Directors (Equity Partners)

5. Building the solution
• Fact based:
– Facts are friendly – Don’t fear the facts.
– Facts compensate for lack of gut instincts
– Facts bridge credibility gap
• Be MECE: (Mutually exclusive,
collectively exhaustive) Heading for
problems.
– Neither fewer than 2 nor more than five.

6. Hypothesis driven
• Defining the initial hypothesis:
– Develop road map.
• Generating the initial hypothesis:
– Facts and structures.
• Testing the initial Hypothesis: Team work

7. Issue Tree
Increase sales
Change sales
strategy
Sales force
Organization
Sales force skill
base
Promotion
strategy
Improve
Marketing
Strategy
Product quality
Packaging
Consumer
Advertising
Strategy
Reduce Unit
Cost
Raw Materials
sourcing
Production
Process
Distribution
System

8. Developing An Approach
• The problem is not always the problem
• Don’t reinvent the wheel
– Most problems match each other than they
differ.
• But every client is unique (Customized
solution)
– Check with data and fact
• Don’t make the facts fit your solution

9. • Make sure your solution fits your client
• Sometimes you have to let the solution
come to you.
– Don’t panic if your experience not helping you
to make IH.
– Facts and analysis bring it.
Developing An Approach

10. 80/20 and other Rules
• 8o% sales -20% sales force
• 80% orders – 20% customers
• 80% secretarial time – 20% work

11. Other Rules
• Don’t Boil the ocean
• Find the key drivers (Focus)
• The elevator Test: 30 seconds
• Pluck the Low – Hanging fruit: small
victories.
• Make a chart every day.

12. Other Rules
• Hit singles: Don’t try to do everything.
– Impossible to do everything yourself all the
time.
– If you manage it once, You raise unrealistic
expectations
– Once you fail to meet expectations, it is
difficult to regain credibility.

13. Other Rules
• Look at the big picture:
– How does doing this will solve the problem?
– Is it the most important thing you could be
doing right now?
– If it’s not helping, why are you doing it?
• Just say, “I Don’t Know”