Mckinsey way summary thinking about business problems

But every client is unique No cookie-cutter solutions That there are many similarities between business problems does not mean that similar problems have similar solutions.

The mckinsey way summary

Intereses relacionados. It is like finding a way when you go to a place. MECE starts at the top level of your solutions — the list of issues making up the problem you have to solve. Put it down on paper. It will help you push your thinking. One important aspect of professional integrity is honesty with your clients, your team members, and yourself. Problem solving at the Firm begins with facts. First is top-down. Sometimes, the client will not know what the problem is, just that there is a problem. They go unnoticed until they start nibbling your cheese.

After almost ten years in the industry, I stopped thinking about why I was doing what I was doing. Know your client. These techniques may be somewhere in your organization, either written down or in the heads of your fellow employees.

Consulting methodology pdf

McKinsey exists to solve business problems. This involves doing deep research around your problem statement, testing your hypotheses, running different analysis and continuing to ask more questions. Someone needs to step up to the plate. Find the Key Drivers 2. Just say, I don't know The Firm pounds the concept of professional integrity into its associates from their first day on the job, and rightly so. A good McKinsey issue list contains neither fewer than two nor more than five top-line issues of course, three is the best. When you get your team into the room, leave your preconceptions at the door. Ethan shares the importance of structure in this book. Your solution may be great, but if the business is unable to follow it and turn it into a reality because of a lack of resources, it is worthless. The initial hypothesis is your problem-solving map. Just be there, at the right time, and make sure the right people know who you are. Such similarities have to be looked through in many of the problems that come to you. Is it the most important thing you could be doing right now? They boost morale and give you added credibility by showing anybody who may be watching that you're on the ball and mean business. Combine that with some educated guessing, and you can be well along the road to the solution.

It saves you effort. Developing an approach The second chapter revolves around developing an approach for solving the problem.

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You have to validate your initial hypothesis or our gut with fact-based analysis. Tailor your solutions with these factors in mind. When you think you have determined the issues, take a hard look at them and ask: Is each one a separate and distinct issues?

The mckinsey way problem solving

They go unnoticed until they start nibbling your cheese. MECE starts at the top level of your solutions — the list of issues making up the problem you have to solve. There are generally two approaches to building consulting-like presentations and the manner in which you delpoy each approach will depend a lot on whether you are working alone or in a team. The problem should be broken down into issues and those issues should be Mutually Exclusive and Collectively Exhaustive that means none of the issues should overlap with one another while at the same time all the issues should cover all the parts of the problem whenever consultants try to solve it. You have to validate your initial hypothesis or our gut with fact-based analysis. The problem is not always the problem Sometimes a business problem will land on your desk and you will be told to solve it. If it's not helping, why are you doing it? Look at the big picture Every now and then, take a mental step back from whatever you're doing.

Don't keep pounding; it has no effect on the wall and does your head no good. Once you fail to meet expectations, it is very difficult to regain credibility. This might sound like the musings of a Zen monk or perhaps a management consultant from California.

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The McKinsey Way of Thinking About Business Problems « The Road Ahead