Be sure to bookmark the guide so that you can reference it in the future. First of all they define the initial hypothesis, then they will go about proving it correct or wrong. At first, weather data was not top of mind, in part because the causes of the degradations appeared to be related to software and hardware issues, and plugging in that external data set involved a fair amount of work. In return, the Firm demands total devotion to client service, submission to a grueling schedule that can include weeks or months away from home and family, and only the highest-quality work. But your data, facts and proof should be in support of your structure, your story. Summarize it first — completing your introduction — then break it down into details and write the main body of your presentations.
What are some key elements of a McKinsey presentation? A hypothesis greatly speeds up your quest for a solution by sketching out a road map for research and analyses that will guide your work throughout the problem-solving process, all the way to the presentation of your solution. We develop interview guides and send them in advance to allow the interviewees to prepare and track down information that they do not already have. Structuring your thinking can add value outside the confines of the business world. Hold off on your assessment and recommendation until you get a response. We covered the various issues stemming from each problem: you might want to do something, but is it achievable, do we have the resources financially, can we get the congressional support, and what are the political ramifications? Interviewing helps us to learn about you as a person and a potential colleague, and it helps you to learn more about McKinsey, our people and what you could do here.
Having said that, each chapter of The McKinsey Mind is more or less self-contained, and you can easily treat the book as a reference on the topics that are most interesting and relevant for you. How can I build the business knowledge I need to be a successful consultant? How can I ensure my success in the long term? A large multinational will have the need and ability to build a more sophisticated support structure than a five-person start-up. In many organizations executives make major strategic decisions based as much on gut instinct as on fact-based analysis. Some people like to track their due dates in more detail with Gantt charts or other project management tools. In the context of framing and solving business problems, your goal is to bring order out of chaos. Then think of at least three major arguments, and identify the most relevant fact or two that may support the position or disprove it. I have physically seen a dozen or so from clients who had McKinsey-ites passing through their halls.
You can avoid a similar fate by prewiring whenever and wherever you can. You will spend an inordinate amount of time and effort getting from mostly right to, in all likelihood, precisely wrong. It saves you time partly because it allows you to start drawing conclusions based on limited information—which, at the beginning of the problem-solving process, is usually what you have. Sure enough, when we walked into the Big 3 to introduce the new product, they were excited; we could practically charge whatever we wanted. The number of experienced professional hires at McKinsey is growing, and we now have a rich community of professionals joining from many different industries and backgrounds. Which consume most of your expenses? Do we have those skills in the organization? For the purposes of my own thinking, I used a McKinsey approach to solving the problem.
At this point, the process of laying out an issue tree should be clear to you. Quite the opposite: we have too much of it. Ultimately, you will be invited to interview for one location only. Still, they find that the knowledge they gained about designing analysis plans has helped them get the factual support they need to make decisions in their new organizations. The recruiting process at McKinsey involves numerous, intensive case study interviews. More often, though, a poorly designed presentation reflects a poorly thoughtout idea. As the interviewer, you often occupy a position of power relative to the interviewee; you have a responsibility to use that power wisely.
Or do people usually arrive at decisions ad hoc, without a recognizable structure or factual support? If there is a stereotype of McKinsey in the minds of businesspeople, it is the image of a formal presentation conducted by men in dark suits and white shirts around the boardroom table. The objective of the introduction is to establish the groundwork to plant this question, so that the rest of our presentation can focus on answering it. They pay for advice that will add value to their businesses; this is the end product of the consulting process and, by extension, of business problem solving in general. If you dig around, you will turn up sources dating back to the last millennium—that is, A. If your thinking is clear and logical, your presentation should be, too. McKinsey is a brand name in international business circles.
Examples would be the level of formality e. How does your job affect these issues, and what could you do to have more impact? This was the most startling change for me when I left McKinsey. Context or Starting Point : Where are we now? In both cases, the combination of structured and unstructured data created rich data sets that enabled each organization to test complex hypotheses and uncover patterns that would have been undetectable with fewer or narrower data sources. So, in a way, receiving the third-degree in a presentation can be a good sign. As you consider the potential impact of powerful facts in your organization, try out this method, just as Marilyn did, and seek to provide insights not previously available the goal of effective data gathering. As it happens, one of your team knows that raw thrums make up about 35 percent of the total cost of a thrum-mat, so there should be some mileage there.
In addition, Appendix A provides a long list of the most helpful data sources we could find. It also acts as a check on your solutions because those who review your recommendations may mention something that you missed in your research and just might change your results. He needed to build alliances with Board members to implement his vision for the company. Once you start to plan your analyses, you have to balance intuition against data. We save so much time and energy by not going down the wrong path. This helps to ground the presentation and establish a common starting point.