International Business: Case Study-Report-3 18-02-2022

International Business
Case study-Report-3
18-02-2022
McKinsey & Company: Managing Knowledge and Learning
Submitted By
Chakka Varun- 21073
Submitted To
Prof. Chandan Palaksha

1. How was the obscure little firm of "accounting and engineering
advisors" able to grow into the world's most prestigious firm fifty
years later? What was the unique source of competitive advantage
developed by James O Mckinsey and later Marvin Bower?
 Information is the lifeblood of MCkinsey.

 Founded in 1926 by University of Chicago professor James McKinsey, a
company of accounting and engineering consultants ”
 He began hiring experienced managers and trained them in an integrated
approach to his so-called General Survey.
 He led experts through a “consistent” analysis process - goals, strategy,
policies, organization, resources, processes, and staff - while encouraging them
to gather information and consider for themselves what usually happens on
Saturday mornings.
 James hired Marvin Bower, a lawyer with a Harvard MBA degree, and
within two years offered him the position of newly opened office manager in
New York.
 Improving the company's image in the industry often referred to as "efficient
professionals" or "business doctors"
 Bower was determined to instill in his colleagues the sense of
professionalism he had acquired while working for a law firm.
 His vision for the firm was to focus on issues affecting top management,
adhering to high standards of integrity, professional ethics, and professional
excellence, in order to attract and develop high-ranking young men. , and a
commitment to self-promotion and its impact.
 For the next few years he is influencing his colleagues and associating
himself with sharing his vision.
 With the opening of new offices, he became a staunch supporter of One
Company 's philosophy, which mandated that all professionals be hired and
promoted to a firm position, customers viewed as McKinsey & Company's
responsibilities, and earnings divided among the firm. rather than an office pool.
 He also started to increase the value and quality of McKinsey customers
through dinner talks. He expressed the philosophy in the New Engagement
Guide of 1945 that every employee should give the company something other
than income, such as experience or fame.
 Bower led ten of his colleagues and 74 colleagues to implement a series of
major reforms that have transformed McKinsey into a unique consulting
business that can meet demand.
 Each client's situation was considered different, but Bower and his colleagues
were confident that well-trained, highly intelligent professionals could quickly
understand the problem and find a solution through focused analysis.
 The company's impressive domestic success in the 1950s laid the foundation
for global expansion in the 1960s, which accelerated growth rate.
 After the opening of the London Office in 1959, the offices in Geneva,
Amsterdam, Düsseldorf, and Paris followed.
 McKinsey was a well-established and respected figure in Europe and North
America when Bower resigned as Executive Director in 1967.
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 Strong Goals and Goals Panel decided in April 1971 that the organization
was developing very fast. Another finding of the commission was that although
Mckinsey's experts were common problem solvers, they often lacked in-depth
industry knowledge or specific skills that customers needed.
Another challenge came from companies such as BCG. BCG began to compete
on the basis of "thought leadership," and Mckinsey began based on "client
communication."
Ron Daniel to win these:

• His first move was to hire one of the most watched, productive, and top
partners as a full-time training director.
• Focused on training
• Builds industry-based customer segments in a variety of functions
• You have managed to cross the regions of the country this way.
• Focused on increasing the skills and knowledge of mentors, and applied the
firm's ability to work, especially in strategic and organizational areas.
Fred Gluck's contribution is as follows:

• You have invited the "Top Group"
• Established a Client Liaison Committee
• Develop a professional work ethic approach
• Established Operating Centers
• Expand the information infrastructure through an information management
project
• Create an accessible website for information collected on customer service and
development in a dedicated information sharing and management environment.
3. Judging by evidence in the three mini cases of front-line activities in
the mid-1990s, how effective has the firm been in its two-decade long
change process?
 The creation of a linked system as a foundation for the firm's future

growth.
 A massive pool was created that contained a substantial amount of
information linked to numerous fields as well as various other
information from across the world.
 The character of persons was essentially raised by obtaining more topic
aptitude.
 Next generation leaders were trained to sharpen their aptitudes and
knowledge.
4.What is your evaluation of Rajat Gupta's "four-pronged" approach to

knowledge development and application within Mckinsey? As a senior
partner what specific advice would you give him?
Within McKinsey, the MD's "four-pronged" approach to knowledge

development and application Mr. Rajat Gupta struck me as a visionary and out
of the ordinary individual. He had the ability to see into the future and was
preparing the organisation for the market trends he predicted. The importance of
focusing on personnel development was crucial.
As a senior partner, I would encourage him not to pursue any new ideas or
techniques at the macro level, but instead to enhance existing ways and
guarantee that the "four-pronged" approach is properly applied. This would be
crucial in ensuring that he "leaves the firm stronger than when he arrived."

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International Business

McKinsey & Company: Managing Knowledge and Learning

Chakka Varun- 21073

Prof. Chandan Palaksha

 Information is the lifeblood of MCkinsey.

2. How effective was Ron Daniel in leading Mckinsey to respond to

Ron Daniel to win these:

Fred Gluck's contribution is as follows:

 The creation of a linked system as a foundation for the firm's future

4.What is your evaluation of Rajat Gupta's "four-pronged" approach to

Within McKinsey, the MD's "four-pronged" approach to knowledge

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