McKinsey & Company: Managing Knowledge and Learning |
Case Study #7|
1. Which countries are involved in this case? Describe the diplomatic relations between hose countries? Are there any trade agreements in place which would impact management’s decision to enter the target market?
2. Which geographic markets are being considered in this case? Provincial, Country, Regional, and/or Global?
3. What are the considerations which may impact the overall marketing strategy?
4. What are the cultural considerations within the company and the specific management team?
1. How was this obscure firm of “accounting and engineering advisors” able to grow into the world’s most prestigious consulting firm fifty years later? What was the unique source of competitive advantage developed by James O. McKinsey and later Marvin Bower?
The reason McKinsey & Company has grown to be the most prestigious consulting firm is their ability to develop relationships and create confidence in its clients. James McKinsey and Marvin Bower were both able to identify the importance of expertise in the necessary fields and how imperative delivering services that are essential and beneficial for the clients. This type of employee requires a high degree of professional experience in addition to understanding of changes in the industry, economy and culture. The company had experienced expansion into a global market which created numerous changes in their management and structure. James McKinsey created his “General Survey” outline and this highlights how essential it is to analysis; “goals, strategy, policies, organization, facilities, procedures, and personnel”. While his executives were going through the “General Survey” he continued to encouraging his employees to “synthesize data and think for themselves”. This distinguished the company because McKinsey & Company had a...