2.1 Well-deserved reputation2
2.2 Diverse range of business3
3.1 Weakness in practice area4
3.2 Lack of enough attention on SMEs4
4.1 Market potential5
5.1 Intense competition6
5.2 Global financial crisis7
McKinsey & Company (McKinsey) is a well-known international management consulting firm. Its Greater China department has been serving clients in Greater China for over 25 years (Mckinsey & Company Greater China, 2012). McKinsey’s core objective is “to help our clients achieve substantial and enduring impact by tackling their biggest issues concerning strategy, operations, organization, technology and finance” (Mckinsey & Company Greater China, 2012). Although this company has recruited outstanding staff on a global scale and it has developed its own consulting system (such as McKinsey’s 7s model), McKinsey would face many internal and external factors which might impact the company performance, especially in the greater China market. Therefore, McKinsey Greater China should have a clear picture of the situation and comprehensively analyse its strengths, weaknesses, opportunities and threats to overcome the future challenges. This project will illustrate an internal analysis of McKinsey Greater China’s strengths and weaknesses, and an external analysis of it opportunities and threats.
2.1 Well-deserved reputation
McKinsey has a well-deserved reputation among world-famous companies and a long, successful tradition in consulting field. Originally, the company started with solving senior management problems in American companies. Then, with about eight decades of operation and development, McKinsey has established a complete consultation service system and has accumulated many successful consulting examples which help the firms settle practical issues, such as evaluating OldPharma's biologicals strategy. These factors help this company win the respect and reputation from competitors and clients. Thus, without brand promotion and advertising, Greater China department which is an important part of McKinsey has attracted much attention from the media and well-known Chinese companies. It is beneficial to reduce the advertising expenditure and crack the Chinese market.
2.2 Diverse range of business
McKinsey has set up a complete service system, including almost all of industrial departments, to the greatest extent to ensure the various needs of clients. Clients can choose an entire management consultation or the specific professional services in the area of automotive, global energy and materials, financial services and the other five advisory categories (Mckinsey & Company Greater China, 2012).In these fields, the service items could be subdivided into business technology, corporate finance, organizational change, strategy planning, and sustainability and resource productivity services (Mckinsey & Company Greater China, 2012). The diverse range of consulting can cater to clients’ various demands and can attract some big companies which prefer an integrated, one-stop service. Because this service can help them save a great deal of time and money. Therefore, compared with other Chinese local consulting firms, McKinsey Greater China will earn the confidence from the customers by its multitudinous consultation services items.
3.1 Weakness in practice area
McKinsey Greater China has been more interested in theoretical knowledge or analysis methods rather than presence in some practice areas (MarketLine, 2011). In other words, Mckinsey is good at finding questions while seeking answers is weak. This problem has impacted the development of McKinsey Greater China. According to analysis statistics,...