BY SAI AKHILESH(118923)

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Introduction The McKinsey Way of Thinking

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Building the solution Developing the approach 80:20 and other rules

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The Mckinsey Way of Working to Solve Business Problems The Mckinsey Way of Selling Solutions Surviving at Mckinsey Life after McKinsey Growth Model of Mckinsey.

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

Firms problem solving process has three attributes Fact based Rigidly structured Hypothesis driven

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problem is not always the problem Dont reinvent the wheel Frameworks - focus their thinking on the drivers of the problem Trust and Verify Dont make your facts fit your solution Make sure your solution fits your client Finite resources everywhere Toll guarding the bridge understand politics

 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 dont know Dont accept I have no idea - Probe

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McKinsey does not sell; it markets Be careful what you promise: Structuring an engagement Team Morale never blame, self pity Practice development Make your boss look good Manage hierarchy Listen, Guide, Paraphrase Make interviewee feel reassured Write a Thank you note always Brainstorming

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Structured presentations Internal Communications keep info flowing Confidentiality Working with clients keep them on our side Deal with hostility Engage client Be rigorous about implementation Review Projects and learning Contribute to the databases

Find a mentor Respect people Respect the support staff Recruiting style: Analytical, Judgment, Ethical, Fit with Firm, Academic track record, Above average IQ

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

MAKE YOUR BOSS LOOK GOOD ASSEMBLING A TEAM DONT ACCEPT I HAVE NO IDEA LOOK AT THE BIG PICTURE MAKE A CHART EVERY DAY MAKE SURE YOUR SOLUTION FITS YOUR CLIENT DONT REINVENT THE WHEEL

The McKinsey model argues that businesses should develop their growth strategies based on: Operational skills Privileged assets Growth skills Special relationships

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

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.