CASE STUDY

Case Study - Mckinsey & Company

Mckinsey & Company

Answer 1.

The fact that is most admirable is the fact that Mckinsey's adopted “one-firm”. It is of great importance for businesses to be with the plan and remain focused to achieve their targets. They tried to isolate themselves by different office which in turn resulted in internal battles over different issues. This mainly started when Mac recruited Marvin Bower in 1932; he was a bright young lawyer with an MBA from Harvard University and made him the manager of newly opened New York office. The reason behind recruiting him was to improve and build the organizations' image in the market so that they can offer premium services in effective way. Bower combined his experience, skills professionalism that he had brought from his academic and professional life.

Another important step that Mckinsey had done was general survey on analyzing goals, organization, facilities, strategy and others as well as encouraging consultants to integrate and work together as a team.

Later on, the article accentuates that the new recruit Bower built a new vision for the firm that was primarily focused on the importance of top level management based on different characteristics i.e. highest level of integrity, professional ethics, ability to extend and absorb the new generation of technical issues, commitment to sustainability of developing power and influence of the company. Also, after about ten years, his extended his focus on updating the size as well as the quality of clients (Santos 2004, 31-37). He believed that the facilities provided to the clients should be of more importance than that of the firm. It was also determined that financial issues is not the only aspect but there are other intangible factors that pay their role as well i.e. prestige, perception and experience play an importance role.

Thus, they were able to manage their obscure position mainly because of bringing in new and quality people in the company. In addition, they also decentralized their 15 centers.

Answer 2.

There were certain measures taken by Ron Daniel in order to respond to challenges of Mckinsey. Some of the most important activities were;

Visionary Philosophy: He simply laid down things that were of crucial importance for the top management; maintain the high standards of integrity, professional behavior, continuous improvement processes as well as technical brilliance.

He also made one of the firms' directors to be responsible for the training. He was appointed as the director of the training division.

Training and development is a very important phenomenon internationally. As globalization strengthens its roots, it becomes very necessary for multinational organizations to train and developed the employees in such a way that it allows companies to reach its milestone (Sirota 1989, 119-12).

As new offices were been setup, they practiced One firm policy and tools ultimate responsibility of their clients; this was done by conducting business dinners, corporate seminars to build cordial relations and remain engaged with their clients so that they are always updated with the latest information.

Where profitability is the prime motive for most of ...