Mckinsey Case Analysis

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1. How was this obscure little firm of “accounting and engineering advisors” able to grown into the world’s most prestigious consulting firm fifty years later? What was the unique source of competitive advantage developed by James O. McKinsey and later by Marvin Bower? * Only 3 year terms as managing director to keep company from falling into ruts. Allows McKinsey to keep things fresh * The firm’s consultants pitch innovative ideas to head execs which ensures that they stay quick on their feet and looking for creative ideas * Extensive training program- “undeviating sequence” of analysis with encouragement to think for themselves * Level of professionalism * Bower outlined a vision for the firm that dictated company decisions over many years * Clients viewed as company responsibilities * New Engagement guide that requested that company engagements bring not just profit but something else like expertise or prestige * Focus on the client receiving benefits * McKinsey & Co was essentially operating under Covey’s 7 habits of highly effective organizations 2. How effective was Ron Daniel in leading McKinsey to respond to challenges identified in the Commission on Firm Aims and Goals? What contribution did Fred Gluck make to the required changes? The challenges identified in the Commission on Firm Aims and Goals were that McKinsey was growing too quickly causing them to neglect development of technical and professional skills. The firm was concluded to have been too willing to take routine assignments from marginal clients, that the quality of work done was uneven, and that while the consultants were excellent generalist problem solvers they often lacked the deep industry knowledge or substantive specialized expertise clients were demanding. Ron Daniel sought to remedy this by appointing one of the firm’s most senior partners

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