Case Analysis: Mckinsey & Company- Managing Knowledge and Learning

3235 words 13 pages
Company’s background: McKinsey & Company is a privately owned management consulting firm that focuses on solving issues of concern to senior management in large corporations and organizations. Known among its employees simply as "The Firm" McKinsey & Company was founded in Chicago in 1926 by James O. ("Mac") McKinsey. McKinsey was a professor at the University of Chicago who pioneered budgeting as a management tool. Marshall Field's became a client in 1935, and soon convinced James McKinsey to leave the firm and become its CEO; however, he died unexpectedly in 1937.

Today McKinsey has over 7,500 consultants in 90 offices across 51 countries. They help solve strategic, organizational, operational and technological problems, for some of
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Ron Daniel was the MD at that time. He realized that the generalist model was not work for McKinsey any more. He implement following actions.
1. He appoints one of firm’s partners to be the full-time director of training. Base on the commission that the company made, Daniel tried to improve consultants’ skills and expertise. Therefore, the company’s core commitment is not only to serving its clients but also to developing its consults. Then their newly expert consultants can attract more clients in some specific industries, which can both achieve in market expansion and people development
2. Structural changes. He created industry-based clientele sectors in different functions, and cut some geographic offices that remained the primary organizational entity. He tried to shift company’s capital on new sectors which include different functions, which can help the company focusing on more specific fields and expand their business extension. He also encouraged formal development of firm’s functional expertise to maintain firm’s distinctive competitive advantage.
3. Leverage the firm’s functional expertise, especially for strategy and organization sectors. Because strategy and organization are the heart of McKinsey’s practice, which is the distinctive advantage for McKinsey in local office presence. In order to maintain their competitive

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