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McKinsey and Company CASE

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by

Annabella Polo

on 12 October 2014

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Transcript of McKinsey and Company CASE

Structure

1. McKinsey & Company
2. Goal
3. Analysis of McKinsey
SWOT analysis
4. Concept for managing a rich collective knowledge
4.1 What is knowledge management?
4.2 Individuals, Teams and Top-head managers: links between them
4.3 Internal and external communication
5. General conclusion and suggestions





4.1 What is knowledge management?

4.2 Individuals, Teams and Top-head managers: links between them

4.3 Internal and external communication
4.1 What is knowledge management?
"Knowledge management is a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise's information assets. These assets may include databases, documents, policies, procedures, and previously un-captured expertise and experience in individual workers."
4.2 Link between top-head managers, teams and individuals
1. McKinsey&
Company
McKinsey was established in 1926
It is a consulting company
McKinsey has highly respected presence in Europe and North America
Its mission is to help their clients make positive, lasting and substantial improvements in their performance and to build a great Firm, that is able to attract, retain and excite exceptional people

McKinsey and Company CASE

ProSulting Worldwide: Delhay, Jochem, Zalais & Polo
2. Goal
3. Analysis of McKinsey
5. General Conclusion and suggestions
SWOT
Strengths
Intelligence and creativity of the consultants
Successful firm with high capital
Knowledge is the ‘life blood” of McKinsey
History and reputation of the firm
“Thought leader”
Model of McKinsey Global Institute
Change and Operations Center
Company understand clients' problems and looks for solution (self critical in positive way)
“One firm” policy

Weaknesses
The firm has been growing too fast
Was too focus on geographic expansion and new practice possibilities
Neglect the development of technical and professional skills
Has accepted routine assignments from marginal clients
Consultants can lacked deep industry knowledge
Former reluctance to document concepts
Sometimes too much focus only on short-term solutions

Opportunities
Trend of hiring consulting companies
New innovative way/approach for its services

Threats

Task of knowledge management has become more complex
Competition (BCG …)
Growing sophistication of clients’ management
Technology
Moving away from “one firm” towards compartmentalization

4. Concept for managing a rich collective knowledge
=> Knowledge development has to be central, need to be ongoing and institutionalized and has to be the responsibility of everybody.



To manage rich collective knowledge in order to build superior value for the customers of McKinsey

Requirements
1. Thorough analysis of McKinsey
2. Three different levels of knowledge and knowledge construction: individuals, teams and the organization

4.3. Internal and external communication
Internal communication
ORGANIZATION
External communication
a) Communication methods
INTERNAL AND EXTERNAL COMMUNICATION
Written communication
electronic devices (computer, telephone, television, fax etc) and programs (internet, email, intranet, dvds, newsletters, podcasts, blogs, wikis, voicemail, conference calls, sms, messaging programmes, news feeds, social media)
printed: magazines, newsletters, brochures, postcards, posters, memos
Face-to-face communication
: meetings, briefings, conferences, seminars, visits, lunches, round-table discussions, local messenger
Workspace
: TV screens, notice boards
a) Internal organization chart to manage knowledge management
b) Further explanations
c) Suggestions
EXTERNAL COMMUNICATION

Mass communication and mass media
for advertising: newspapers, radio, television etc.

b) Suggestions about communication
• Definition of the
most effective communication methods
, modernize and use
less printed communication
(e.g. newsletter can be on internet)

• Remember the importance of
face-to-face communication
in bigger decisions. Quick, short and simple messages should be communicated electronically to be more efficient. Electronic messaging has the risk of misunderstandings.

• Invest the appropriate amount of time in developing the
managers’ communication skills

• To engage the employees, the communication should go both
vertical and horizontal ways and up and downward.
Feedback from the employees and involvement are important. The “cascade management of messages” tends to have little impact.

• Managers should
remove barriers of communication,
for example language differences and discrimination.

a) Organization chart
Top-head managers of the company
1. Identify clearly the client’s problem and the industry he comes from
2. Name a team of experts according to the client’s industry
3. Reward the team in case of success

Team of expert consultants of a specific industry
- Answer the client’s problem

Exchange of information and knowledge
Exchange of information and knowledge
Team of expert consultants of a specific industry
Team of expert consultants of a specific industry
Name a team
Exchange of information and knowledge
Exchange of information through Information Technology (Internet, Intranet, Database)
b) Further explanations
Top-head managers
Name a team of expert consultants
Exchange information with the team
Reward the team in case of success: source of motivation
Teams
Interaction between teams in order to solve the problem efficiently
Transfer of information between experts
Individuals
Practice individual learning
Follow trainings
Commit in perpetual search of information
c) Suggestions
Name the appropriate team of expert consultants
Exchange information between 3 parties
Perpetual individual learning
Trainings for individuals
Rewards for best team

About organization
Keep knowledge development central, ongoing and institutionalized
Make it the responsibility of everybody
Have a clear learning organization
Always name the adequate experts to solve a case
Play a lot on rewards to motivate
Do a perpetual search and exchange of information
Practice individual learning: trainings
About communication
Modernize it
Face-to-face communication for big decisions /Electronic communication for small decisions
Develop managers' communication skills
Vertical and horizontal ways and up and downward

Most appropriate knowledge managment definiton is in our opinion B. Duhon definition (1998) -
Full transcript