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Madison Book Club ,[object Object],Presenter: Anil Shankar,[object Object]
In short..,[object Object],Provides a through-the-keyhole perspective on the way this worldwide consulting institution approaches--and solves--the myriad professional problems encountered by its high-powered clientele. ,[object Object],New and useful skills to everyone who wants to be more useful in their business.,[object Object],Explaining the highly structured, fact-based proprietary methodology that McKinseyites are taught to employ with their Fortune 100 clients,[object Object],Complete with details on the entire process from first considering the basic situation at hand through finally selling a solution to the appropriate powers that be.,[object Object]
Few reviews……,[object Object],"Enlivened by witty anecdotes, THE MCKINSEY WAY contains valuable lessons on widely diverse topics such as marketing, interviewing, team-building, and brainstorming." --Paul H. Zipkin, Vice-Dean, The Fuqua School of Business ,[object Object],"If more business books were as useful, concise, and just plain fun to read as THE MCKINSEY WAY, the business world would be a better place." --Julie Bick, best-selling author of ALL I REALLY NEED TO KNOW IN BUSINESS I LEARNED AT MICROSOFT. ,[object Object],It's been called "a breeding ground for gurus." McKinsey & Company is the gold-standard consulting firm whose alumni include titans such as "In Search of Excellence" author Tom Peters, Harvey Golub of American Express, and Japan's Kenichi Ohmae.,[object Object]
Finding a solution,[object Object], Fact-based,[object Object],You must not fearthe facts. Hunt for them, use them, but don’t fear them,[object Object], Rigidly structured,[object Object],MECE,[object Object], Hypothesis-driven*,[object Object], Defining the initial hypothesis.,[object Object], Generating the initial hypothesis.,[object Object], Testing the initial hypothesis.,[object Object]
Developing an approach,[object Object],The problem is not always the problemSometimes a business problem will land on your desk and you will be told to solve it. Fair enough. But before you go rushing off in any particular direction, make sure you're solving the right problem – it may not be the one you were given,[object Object]
DON’T REINVENT THE WHEEL ,[object Object],Most business problems resemble each other more than they differ. This means that with a small number of problem-solving techniques, you can answer a broad range of questions.These techniques may be somewhere in your organization, either written down or in the heads of your fellow employees. If not, use your experience to develop your own tool kit. McKinsey,,[object Object]
DON’T MAKE THE FACTS FITYOUR SOLUTION,[object Object],Avoid the temptation to view your initial hypothesis as the,[object Object],answer and the problem-solving process as an exercise,[object Object],in proving the IH. Keep an open and flexible mind. Don’t,[object Object],let a strong initial hypothesis become an excuse for mental,[object Object],inflexibility,[object Object]
MAKE SURE YOUR SOLUTION FITSYOUR CLIENT,[object Object],The most brilliant solution, backed up by libraries of data,[object Object],and promising billions in extra profits, is useless if your client,[object Object],or business can’t implement it. Know your client. Know the,[object Object],organization’s strengths, weaknesses, and capabilities—what,[object Object],management can and cannot do. Tailor your solutions with,[object Object],these factors in mind.,[object Object]
SOME PROBLEMS YOU JUST CAN’T SOLVE . . .SOLVE THEM ANYWAY,[object Object],Eventually, you will run into a brick wall that is tougher than,[object Object],your head. Don’t keep pounding; it has no effect on the wall,[object Object],and does your head no good,[object Object]
DON’T BOIL THE OCEAN,[object Object],Work smarter, not harder. There’s a lot of data out there,[object Object],relating to your problem, and a lot of analyses you could do.,[object Object],Ignore most of them,[object Object]
80 / 20 and other rules to live by,[object Object]
Many factors affect your business. Focus on the most importantones—the key drivers.,[object Object],FIND THE KEY DRIVERS,[object Object]
THE ELEVATOR TEST,[object Object],Know your solution (or your product or business) so thoroughlythat you can explain it clearly and precisely to yourclient (or customer or investor) in 30 seconds. If you can dothat, then you understand what you’re doing well enough tosell your solution,[object Object]
PLUCK THE LOW-HANGING FRUIT,[object Object],Sometimes in the middle of the problem-solving process,,[object Object],opportunities arise to get an easy win, to make immediate,[object Object],improvements, even before the overall problem has been,[object Object],solved. Seize those opportunities! They create little victories,[object Object],for you and your team. They boost morale and give you,[object Object],added credibility by showing anybody who may be watching,[object Object],that you’re on the ball and mean business.,[object Object]
MAKE A CHART EVERY DAY,[object Object],During the problem-solving process, you learn something,[object Object],new every day. Put it down on paper. It will help you push,[object Object],your thinking. You may use it, or you may not, but once you,[object Object],have crystalized it on the page, you won’t forget it.,[object Object]
Just say, “I don't know”,[object Object],Honesty includes recognizing when you haven't got a clue. Admitting that is a lot less costly than bluffing,[object Object]
Hit Singles,[object Object],• It’s impossible to do everything yourself all the time.,[object Object],• If you manage it once, you raise unrealistic expectations from those around you.,[object Object],• Once you fail to meet expectations, it is very difficult to regain credibility,[object Object]
LOOK AT THE BIG PICTURE,[object Object],Focussing day to day problems is good.,[object Object],However never ever forget the long term goals,[object Object],take a step back, figure out what I’m trying to achieve, and then look at whatever I’m doing and ask myself, ‘Does this really matter?’”,[object Object]
DON’T ACCEPT “I HAVE NO IDEA”,[object Object],People always have an idea if you probe just a bit. Ask a few pointed questions—you’ll be amazed at what they know. Combine that with some educated guessing, and you can be well along the road to the solution.,[object Object]
ASSEMBLING A TEAM,[object Object],GETTING THE MIX RIGHT,[object Object],A LITTLE TEAM BONDING GOES A LONG WAY,[object Object],TAKE YOUR TEAM’S TEMPERATURE TO MAINTAIN MORALE,[object Object],Let your teammates know why they are doing what they’re doing,[object Object],Get to know your teammates as people,[object Object]
MAKE YOUR BOSS LOOK GOOD,[object Object],If you make your boss look good, your boss will make you look good. That’s the quid pro quo of hierarchy.,[object Object]
Specific Research Tips,[object Object],Start with the annual report,[object Object],Look for outliers,[object Object],Look for best practice,[object Object]
SIX TIPS FOR SUCCESSFUL INTERVIEWING,[object Object],Have the interviewee’s boss set up the meeting,[object Object],Interview in pairs,[object Object],Listen; don’t lead,[object Object],Paraphrase, paraphrase, paraphrase,[object Object],Use the indirect approach,[object Object],Don’t ask for too much,[object Object]
BRAINSTORMING,[object Object],PROPER PRIOR PREPARATION,[object Object],There are no bad ideas,[object Object],There are no dumb questions,[object Object],Be prepared to kill your babies,[object Object],Know when to say when,[object Object],Know when to say when,[object Object]
Presentation Tips,[object Object],Complete before 24 hrs,[object Object],Do open discussion atleast 12 hrs before presentation,[object Object],Good/Tight sleep before presentation,[object Object],Charts simplifies the point,[object Object],Last but not the least “Never surprise the audience with your findings” (Prewiring is very much necessary),[object Object]
IF YOU WANT A LIFE, LAYDOWN SOME RULES,[object Object],Make one day a week off-limits,[object Object],Don’t take work home,[object Object],Plan ahead,[object Object]

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