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Ethan Rasiel - The McKinsey Mind: Understanding and Implementing the Problem-Solving Tools and Management Techniques of the World’s Top Strategic Consulting Firm

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Ethan Rasiel The McKinsey Mind: Understanding and Implementing the Problem-Solving Tools and Management Techniques of the World’s Top Strategic Consulting Firm
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The groundbreaking follow-up to the international bestsellera hands-on guide to putting McKinsey techniques to work in your organization

McKinsey & Company is the most respected and most secretive consulting firm in the world, and business readers just cant seem to get enough of all things McKinsey. Now, hot on the heels of his acclaimed international bestseller The McKinsey Way, Ethan Rasiel brings readers a powerful new guide to putting McKinsey concepts and skills into actionThe McKinsey Mind. While the first book used case studies and anecdotes from former and current McKinseyites to describe how the firm solves the thorniest business problems of their A-list clients, The McKinsey Mind goes a giant step further. It explains, step-by-step, how to use McKinsey tools, techniques and strategies to solve an array of core business problems and to make any business venture more successful.

Designed to work as a stand-alone guide or together with The McKinsey Way, The McKinsey Mind follows the same critically acclaimed style and format as its predecessor. In this book authors Rasiel and Friga expand upon the lessons found in The McKinsey Way with real-world examples, parables, and easy-to-do exercises designed to get readers up and running.

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Copyright 2002 by The McGraw-Hill Companies Inc All rights reserved Except - photo 1

Copyright 2002 by The McGraw-Hill Companies Inc All rights reserved Except - photo 2

Copyright 2002 by The McGraw-Hill Companies, Inc. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

ISBN: 978-0-07-140554-6
MHID: 0-07-140554-2

The material in this eBook also appears in the print version of this title: ISBN: 978-0-07-137429-3, MHID: 0-07-137429-9.

All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps.

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TERMS OF USE

This is a copyrighted work and The McGraw-Hill Companies, Inc. (McGraw-Hill) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without McGraw-Hills prior consent. You may use the work for your own noncommercial and personal use; any other use of the work is strictly prohibited. Your right to use the work may be terminated if you fail to comply with these terms.

THE WORK IS PROVIDED AS IS. McGRAW-HILL AND ITS LICENSORS MAKE NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE WORK, INCLUDING ANY INFORMATION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPERLINK OR OTHERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill and its licensors do not warrant or guarantee that the functions contained in the work will meet your requirements or that its operation will be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inaccuracy, error or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the content of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even if any of them has been advised of the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise.

For Emma, Jessica, and TaliaEMR

For Meredith (motivation), Mom (direction), Dad (curiosity), and Lido (energy)PNF

CONTENTS
ACKNOWLEDGMENTS

First and foremost, I would like to thank my coauthor, Paul Friga. This book discusses the virtues of teamwork at length, and I can think of no better example of successful teamwork than our collaboration. This book is much stronger for it. He has pushed my thinking in new and productive directions; I trust he can say the same of me.Ethan M. Rasiel

The McKinsey Mind Understanding and Implementing the Problem-Solving Tools and Management Techniques of the Worlds Top Strategic Consulting Firm - image 3

Without question, the first acknowledgment goes to my coauthor, Ethan Rasiel. First, he graciously brought me into the process after already achieving great success with his solo effort on his first book, The McKinsey Way. Second, he offered incredible insight, enthusiasm, and direction. And third, he taught me lessons in persistence, storytelling, and unselfishness.Paul N. Friga

The McKinsey Mind Understanding and Implementing the Problem-Solving Tools and Management Techniques of the Worlds Top Strategic Consulting Firm - image 4

The authors owe thanks to many without whom this book would not be in your hands. First, their agent, Daniel Greenberg at James Levine Communications, Inc.; their editor, Mary Glenn; Katherine Hinkebein; and the entire team at McGraw-Hill who made this book a reality. Joe Burton, Simon Carne, Jerry Friga, Ed Pringle, and Paul Sansone made insightful suggestions in the early stages of this manuscript. Our research assistants, Lindsay Cage, Rebecca Jones, and especially Karen Jansen, rendered invaluable support administering questionnaires, researching ideas, and organizing material. David Ernsthausen at the Kenan-Flagler School of Business at the University of North Carolina provided expert assistance with the knowledge management section of this book, and Peggy Pickard, also of UNC, ensured that we had the facilities we needed for our frequent conferences and brainstorming sessions.

Most of all, we are grateful to all those McKinsey alumni who gave us interviews or answered our questionnaires: Jim Bennett, Omowale Crenshaw, Dean Dorman, Naras Eechambadi, Bob Garda, Evan Grossman, Eric Hartz, Paul Kenny, Stevie McNeal, Sylvia Mathews, Bill Ross, Larry Rouvelas, Jeff Sakaguchi, Dan Veto, Steve Anderson, Alan Barasky, Martha Blue, Roger Boisvert, Francesca Brockett, Bob Buchsbaum, Ciara Burnham, S. Neil Crocker, Dominik Falkowski, Brad Farnsworth, Shyam Giri-dharadas, Barbara Goose, Francesco Grillo, Reggie Groves, Fred Kindle, Deborah Knuckey, Heiner Kopperman, Kurt Lieberman, Lee Newman, Leah Niederstadt, Ron OHanley, Rainer Siggelkow, Chacko Sonny, and Jim Whelan, as well as many others, who, for reasons of their own, wish to remain anonymous. We could not have written this book without them.

INTRODUCTION
ABOUT THIS BOOK

February 1999 saw the publication of The McKinsey Way by Ethan M. Rasiel, a former associate of management-consulting powerhouse McKinsey & Company. That book combined theoccasionally humorousanecdotes of McKinsey alumni with the personal recollections of the author to describe the techniques that McKinsey consultants use to help their clients become more efficient and effective. The McKinsey Way also painted a vivid picture of life behind the walls of the publicity-shy organization that its employees refer to as "the Firm."

The McKinsey Mind picks up where The McKinsey Way left off. Most of that book was taken up with a description of consulting McKinsey-style in the context of a typical project"engagement" in Firm jargon. It started with the sale of the engagement and moved step by step through the implementation of McKinseys solution. It also briefly discussed the thought process that McKinsey consultants use to tackle tough business problems.

By necessity, The McKinsey Way was more descriptive than prescriptive. With The McKinsey Mind

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