1. Based on the information provided in the case, what kind of organizational structure does McKinsey use and why? How is it connected to its mentality type (type of company within the Bartlett & Ghoshal typology)? Company has strongly embedded “One firm” structure, which relates to clients, employees and profits. They emphasise the individual consultant development, so called I-shaped consultants. It is team-based organisation with team-led sectors and segments.
McKinsey’s have a system, developed over several decades, of professional principles, approach to serving clients, personnel policies, organization, ownership which enable firm workers to identify with the long-term goals of the institution. history and traditions of the firm have also cultivated values that encourage firm members to stick to policies that they might otherwise deviate from. All branches of a company combine a high degree of local autonomy with a one-firm policy. The manager of each office had broad operating responsibility and decision-making authority, but only within the limits of firm principles, strategy, and policies.
According to the one-firm policy, all consultants were to be hired and promoted by the firm rather than by an office; partners’ profit shares were derived from a firm pool, not an office pool; and each client was to be treated as a client of a company, not of a particular individual or office. I think that McKinsey is a transnational type of company, because its subsidiaries are relatively independent from the rest of the company, since they are bonded to the local environment, to which they have to be very attentive.
The Essay on Company Policy And Accountablity
Accountability is important and should not be taken lightly. So many reasons accountability is important. Knowing where your soldiers are at all times helps to know what they’re doing, and what their interest are doing so. In case something happens and someone needs to know where a soldier is accountability comes into play. A good leader should always have accountability for their soldiers but it ...
The transnational company is also described by Bartlett and Ghoshal as an integrated and interdependent network of various but equal units, where headquarters does not play a commanding role. Headquarters choose to control their subsidiaries by socialization and networks. All directors or management are elected from locals, company does not push their people from the main office for high positions. As company operate as a partnership all decisions are deliberated and discussed with partners.
2. How does McKinsey manage its knowledge and learning? Please analyze at least a couple of examples; connect them to their competitive advantage and mentality. According to Rajat Gupta “knowledge is the lifeblood of McKinsey”. Partnership work hard on their present and future methods of how to enhance and perfect knowledge. McKinsey is investing a lot of time and resources in the organization’s knowledge, image, and capabilities. There are over 100 McKinsey offices in 60 countries.
Over the last 12 years McKinsey has been ranked in the number one position of the “The Best Consulting Firms: Prestige” list. McKinsey maintains organisation called McKinsey Knowledge Centre (McKC) , which give a vast pool of specialised business information. In addition, consultant-authored internal “practice development” documents It conducts pro-bono studies that bring its partners into contact with influential members of the community. Company strive to bring and retain the best employees from top universities of the world.
They employ the approach “engage-explore-apply-share”, which can characterized as one where focus is on the development of knowledge to strengthen individual and team capability. Also firm employs a “stewardship model” where consultants are regarded as “1000 flowers” who have to be guarded by and cared about. Furthermore company is known for hiring highly competitive and ambitious people, it want to see the results with time, therefore if someone does not improve and progress along with a company the one is fired.
This concept is called “up or out”, 25% of firm employees are new every year. By having so many offices all over the world they also encourage and support the dissemination of information and knowledge between consultants. For example if one employee have difficulties at the end of a day, one can write messages to other employees in Europe and United States , the next morning there are usually seven or eight new advices, ideas and leads.
The Business plan on Competitive Advantage Firm Knowledge Mckinsey
McKINSEY & COMPANY - KNOWLEDGE MANAGEMENT COMPANY BACKGROUND AND CURRENT SITUATION SS Founded by James McKinsey in 1926, the firm recruited experienced executives and showed them the general sequence of analysis that they should work by, but also encouraged them to expand and analyze for themselves. SS In 1932, Marvin Bower decided he needed to upgrade the firm's image to be more ' ...
McKinsey invested in building a reputation for management expertise by encouraging its staff to publish articles and books, they turned to big topics like “The Industry Structure in 2005” and “The Telephone Company of the Future”. As well company developed and introduced Telecom Intranet, which improved intra company sharing of knowledge and communication. 3. Why has McKinsey decided to establish the Client Services Team(CST), and what role does it play in the company client service teams create an environment which support and facilitate interests of the clients.
They focus employees on results-oriented efforts and engage all specialists with different knowledge . CST enhance client service and solidify client long-term relationships. As team members’ knowledge of the client deepens, unforeseen service opportunities often emerge. McKinsey recognizes the importance of client satisfaction in cultivating and retaining clients, and the crucial role that client service teams play in increasing that satisfaction.
Moreover, strengthening and expanding client relationships is a critical tool for improving firms’ financial performance, and CST foster enduring relationships. CST practice is a vital part of company commitment to help their clients compete more effectively and achieve greater results. CST enhances communication among the firm and its key clients. Better informed team members are able to service clients more effectively and more proactively. The most effective company/client relationships consist of open and regular two-way communication.
Company is stresses that business is always about people, therefore increasing client loyalty is a milestone in every successful business. Because CST improve service delivery, firms with effective team programs enjoy increased client satisfaction and loyalty. CST helps to build marketplace knowledge. By developing a growing dossier about the client’s needs and the markets in which it operates, firm gain valuable marketplace insights that can benefit other clients as well as colleagues who represent other clients in that same industry sector. CST can foresee clients’ potential needs.
The Essay on The Nielsen Company (Hong Kong) Limited Client Service Assessment
Instructions: Solve each problem using the workspace provided. Record your answers on the answer sheet provided. You are welcome to use a calculator for your analyses. International Juice Inc. plans to introduce a new line of fruit juices with three different flavors: cherry, grape and apple. 50% of buyers will buy cherry, 20% will buy grape, and 30% will buy apple. Cherry buyers will buy an ...
Because they foster an exchange of information among all consultants servicing the client about important trends and developments affecting their business , McKinsey can help the client anticipate changes that will affect its chosen strategy. Firm employ “Engage-Explore-Apply-Share” model, where everyone is responsible for knowledge development. Priority is given to the Client Services Team. Because McKinsey is dealing a lot with unique problems with no clear solution, an unique approach must be taken. Moto of the company is to create the value to the customer and to get an experience or prestige on the way.
