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The Mckinsey Mind (Review and Analysis of Rasiel and Friga's Book)

The Mckinsey Mind (Review and Analysis of Rasiel and Friga's Book)

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The Mckinsey Mind (Review and Analysis of Rasiel and Friga's Book)

ratings:
4/5 (3 ratings)
Length:
45 pages
32 minutes
Publisher:
Released:
Nov 12, 2014
ISBN:
9782511021774
Format:
Book

Description

The must-read summary of Ethan Rasiel and Paul Friga's book: “The McKinsey Mind: Understanding and Implementing the Problem-Solving Tools and Management Techniques of the World’s Top Strategic Consulting Firm”. 

This complete summary of the ideas from "The McKinsey Mind" explores the reasons behind the tremendous success of the eponymous strategic consulting firm, and presents the structured problem-solving process each McKinsey consultant uses in order to develop (and often help implement) solutions to their client’s strategic problems. In this useful summary, you will learn how to use the McKinsey problem-solving methodology, so as to improve your decision-making success rate, structure your thinking about business problems, and win more people over to your way of thinking.

Added-value of this summary:
• Save time 
• Understand the key concepts
• Expand your business knowledge

To learn more, read "The McKinsey Mind" and discover how to solve problems efficiently!
Publisher:
Released:
Nov 12, 2014
ISBN:
9782511021774
Format:
Book

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Inside the book

Top quotes

  • McKinsey consultants do this by developing an initial hypothesis based on the facts available. That hy- pothesis then becomes the road map for the research and analysis needed to develop a solution.

  • Focused on avoiding the temptation to reinvent the wheel by leveraging the experience of the consultant.

  • It’s part of the culture. The mind-set seems to be ‘once we have identified an issue, let’s wrestle it to the ground and move quickly,’ and they’re great at doing it. Rarely do people take the time to examine the issue and develop a clear plan of action.

  • MECE meaning “Mutually Exclusive, Collectively Ex- haustive” to remind themselves every problem needs to be broken down into distinct components that don’t overlap but taken together cover every relevant issue.

  • An issue tree (which can be expanded to as many levels as required) allows you to quickly eliminate any issues which lead to a dead end.

Book Preview

The Mckinsey Mind (Review and Analysis of Rasiel and Friga's Book) - BusinessNews Publishing

Book Presentation:

The McKinsey Mind by Ethan Rasiel and Paul Friga

Book Abstract

About the Author

Important Note About This Ebook

Summary of The McKinsey Mind (Ethan Rasiel and Paul Friga)

Book Abstract

Main Idea

McKinsey and Company (founded in 1923) has now grown to become the world’s most successful strategic consulting firm with over 7,000 professionals advising thousands of clients worldwide. This is the structured problem-solving process each McKinsey consultant uses to develop (and often help implement) solutions to their client’s strategic problems.

Note this problem-solving process is:

Highly structured and systematic – allowing consultants to quickly understand the issues facing a business.

Based around letting the facts prove or disprove a hypothesis – as the most efficient way to move forward.

Mutually exclusive, collectively exhaustive – separating each problem into distinct issues which collectively cover every base.

Focused on avoiding the temptation to reinvent the wheel by leveraging the experience of the consultant.

Careful to treat each client as being unique – with specific problems and issues rather than common business problems.

In total, the McKinsey problem-solving methodology is a great way to improve your decision making success rate, structure your thinking about business problems and win more people over to your way of thinking.

About the Author

ETHAN RASIEL was a consultant in McKinsey & Co.’s New York offices. While there, he consulted with major companies in the finance, telecommunications, computing and consumer goods industries. A graduate of the Wharton School at the University of Pennsylvania, Mr. Rasiel is also the author of The McKinsey Way. He previously worked as an equity fund manager and investment banker.

PAUL FRIGA worked in McKinsey & Co.’s Pittsburgh office after graduating from the University of North Carolina. He has conducted consulting projects in the acquisition, strategic planning and international expansion fields as well as projects in

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