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The McKinsey Mind: Understanding and Implementing the Problem-Solving Tools and Management Techniques of the World's Top Strategic Consulting Firm
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From the Back Cover
The First Step-by-Step Manual for Achieving McKinsey-Style SolutionsÂÂand Success International bestseller The McKinsey Way provided a through-the-keyhole look at McKinsey & Co., history's most prestigious consulting firm. Now, the follow-up implementation manual, The McKinsey Mind, reveals the hands-on secrets behind the powerhouse firm's successÂÂand discusses how executives from any field or industry can use those tactics to be more proactive and successful in their day-to-day decision-making. Structured around interviews and frontline anecdotes from former McKinsey consultantsÂÂas well as the authors, themselves McKinsey alumniÂÂThe McKinsey Mind explores how McKinsey tools and techniques can be applied to virtually any business problem in any setting. Immensely valuable in today's crisis-a-minute workplace, it discusses: Techniques for framing problems and designing analyses Methods for interpreting results and presenting solutions Keys for managing teams, managing clients, and managing yourself The ability to think in a rigorous, structured mannerÂÂa McKinsey mannerÂÂis not a birthright. It can, however, be a learned behavior. Let The McKinsey Mind show you how to approach and solve problems with the skill of a McKinsey consultant and obtain the positive results that have been delivered to McKinsey clients for over a century. McKinsey & Co. is renowned throughout the world for its ability to arrive at sharp, insightful analyses of its clients' situations then provide solutions that are as ingenious as they are effective. McKinsey succeeds almost as well as shielding its revolutionary methods from competitors' scrutiny. Now, The McKinsey Mind pulls back the curtain to reveal the ways in which McKinsey consultants consistently deliver their magic and how those methods can be used to achieve exceptional results in companies from 10 employees to 10,000. Packed with insights and brainstorming exercises for establishing the McKinsey mind-set, this book is an in-depth guidebook for applying McKinsey methods in any industry and organizational environment. Taking a step-by-step approach, The McKinsey Mind looks at the McKinsey mystique from every angle. Owners, executives, consultants, and team leaders can look to this comprehensive treatment for ways to: Follow McKinsey's MECE (mutually exclusive, collectively exhaustive) line of attack Frame business problems to make them susceptible to rigorous fact-based analysis Use the same fact-based analysisÂÂin conjunction with gut instinctÂÂto make strategic decisions Conduct meaningful interviews and effectively summarize the content of those interviews Analyze the data to find out the "so what" Clearly communicate fact-based solutions to all pertinent decision makers Capture and manage the knowledge in any organization to maximize its value Because organizational problems rarely exist in a vacuum, The McKinsey Mind discusses these approaches and more to help you arrive at usable and sensible solutions. It goes straight to the sourceÂÂformer McKinsey consultants now in leadership positions in organizations throughout the worldÂÂto give you today's only implementation-based, solution-driven look at the celebrated McKinsey problem-solving method. "The McKinsey Mind provides a fascinating peek at the tools, practices, and philosophies that have helped this much-admired firm develop generations of bright young MBAs into trusted corporate advisors. But the book's practical, down-to-earth advice is not just for consultants. The disciplined way in which McKinsey consultants frame issues, analyze problems, and present solutions offers valuable lessons for any practicing or aspiring manager."ÂÂChristopher A. Bartlett, Daewoo Professor of Business Administration, Harvard Business School "McKinsey and Co. rescues the biggest companies from disaster by addressing every problem with its own mixture of logic-driven, hypothesis-tested analysis. The McKinsey Mind helps everyone learn how to think with the same discipline and devotion to creating business success. According to the maxim, giving a man a fish may feed him for a day, but teaching him to fish will feed him for a lifetime. Paying McKinsey to solve your problem may help you for a day, but learning how they do it should help you for a lifetime."ÂÂPeter Wayner, Author of Free For All: How Linux and the Free Software Movement Undercut The High-Tech Titans "The McKinsey Mind unlocks the techniques of the world's preeminent consulting firm and presents them in a format that is easy to understand and even easier to implement."ÂÂDan Nagy, Associate Dean, The Fuqua School of Business, Duke University
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About the Author
Ethan M. Rasiel was a consultant in McKinsey & Co.'s New York office. His clients included major companies in finance, telecommunications, computing, and consumer goods sectors. Prior to joining McKinsey, Rasiel, who earned an MBA from the Wharton School at the University of Pennsylvania, was an equity fund manager at Mercury Asset Management in London, as well as an investment banker. Paul N. Friga worked for McKinsey & Co. in the Pittsburgh office after receiving his MBA from the Kenan-Flagler Business School at the University of North Carolina. He has conducted consulting projects relating to international expansion, acquisition and strategic planning, education, water, and other industries. He has also consulted for Price Waterhouse. He is currently pursuing his Ph.D. in Strategy at Kenan-Flagler and is Acting Director of the North Carolina Knowledge Management Center.
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Product details
Hardcover: 272 pages
Publisher: McGraw-Hill Education; 1st edition (October 17, 2001)
Language: English
ISBN-10: 0071374299
ISBN-13: 978-0071374293
Product Dimensions:
6.3 x 0.9 x 9.3 inches
Shipping Weight: 1.2 pounds (View shipping rates and policies)
Average Customer Review:
3.6 out of 5 stars
67 customer reviews
Amazon Best Sellers Rank:
#75,661 in Books (See Top 100 in Books)
This is a good business book. If you are completely new to consulting, or making data-driven decisions much like a consultant, this is a good book to get a general idea of how to structure thoughts and communicate clearly. The book is broken down into three sections: analyzing problems, managing (client, team, self), and presenting.Section one, on analyzing problems, does not lead you through a business case or prepare you to interview with a firm, which is seemingly what many expected, based on customer reviews. It does provide, at a high level, concepts to explore further: being hypothesis-driven, working with issue trees, synthesizing.Section two, presenting, is the section I got the most out of. This section provides a clear way to get your message across. I had heard most of it before ("Tell them what you are going to tell them. Tell them. Tell them what you told them.") but the ideas for creating single charts in PowerPoint presentations and avoiding reading from outlines on the screen made me reminisce of countless crappy presentations in class.The book ends with tips on managing the client, team, and self. The client information had some insights (they are future business). So much has been written on managing teams and self but Rasiel and Friga do explain its relevance in the book and keep it brief.Again, good business book. A fifth star would have been given for providing follow up reading or tips on developing the skills and techniques that are only touched on.
This book is not as insightful as how the title makes it out to be. It misses the fundamental point is that the reason Mckinsey is so successful is because it knows the subject matter cold. Or at least it knows it from one client in the industry to apply it to another.Its great to have the frameworks and ideas discussed in the book from a theoretical standpoint but the authors really need to acknowledge the whole subject matter concept. Not everybody reading this book will have the benefit of an org with a 120 year legacy (and knowledge practices on how to acquire subject matter expertise).The book should have recognized that from the outset, and at least made an attempt on how to go about (in a simpler way) the process by which the reader should acquire it.
If you know consulting... not for you. If you know McKinsey..maybe self congratulatory remembrances?? If you are looking to penetrate deeper into your craft (consulting)... AVOID. This is a continuation in a series of commercials for theâ€firmâ€.
Ok, everyone wants to know how McKinsey does it. Works with leading companies, drives corporate strategy, has great influence and often wind up CEOs in their own right.Unfortunatley this book does not deliver in any depth in my opinion. It is more of a casual conversation about McKinsey, how great it is with breif discussions of how they work.Notions such as 'always involve your client' and 'recognize that you may not always have great data' are obvious and not worth the price of the book -- even if you purchased it used -- which I did.If you really want to know how the McKinsey mind works I heartly recommend K. Ohmae's "The mind of the strategist" Ohmae was Mr. Strategy at McKinsey and his book really shows you what's in the mind of this influencial company and its consultants.The two who authored this book, are really trading on McKinsey's name, brand and reputation. Its a shame and do not be lured in by the title, read Ohmae's book.
Truly an excellent book to read about McKinsey that helps you appreciate the first and many of their best practices. Any management consultant would benefit from this read.
Is this a 5 star book or a 2.5 star book?Well, it depends which of these 2 questions are you trying to answer:1) Are you trying to find out the consulting methodology that the Firm uses in order to solve problems and have their clients come back for more?2) Are you trying to find out what analytically consulting tools does the Firm uses?If you have selected number 1, then you will love (5 star) this book, because it is a window into the McKinsey world and it primarily focuses on the consulting methodology used by the Firm, but at a high level. (It also touches upon a few problem solving tools like the Issue Tree, Quick and Dirty Test, Hypothesis and Decision/Logic tree, but at a superficial level.)If you have selected number 2, then you will be disappointed, since the authors show only a few tools and, even then, they only go into it at a high level; therefore, you might be inclined to rate this book poorly.
This is deception. The book is useless. Buyers, take it from me, buy Case in Point and save yourself the waste. They used the "McKinsey".
Interesting, and occasionally inspiring. However, I wish we could get a deeper version with more examples and/or cases. I’d recommend it as an inspirational tool.
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