THE McKINSEY WAY

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THE MCKINSEY MIND Understanding and Implementing the Problem- Solving Tools and Management Techniques of the World’s Top Strategic Consulting Firm ETHAN M. RASIEL AUTHOR OF THE MC KINSEY WAY AND PAUL N. FRIGA New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-140554-2 The material in this eBook also appears in the print version of this title: 0-07-137429-9. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without McGraw- Hill’s prior consent. You may use the work for your own noncommercial and personal use; any other use of the work is strictly prohibited. Your right to use the work may be terminated if you fail to comply with these terms. THE WORK IS PROVIDED “AS IS”. McGRAW-HILL AND ITS LICENSORS MAKE NO GUARANTEES OR WAR- RANTIES AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE WORK, INCLUDING ANY INFORMATION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPERLINK OR OTHERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR IMPLIED, INCLUD- ING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill and its licensors do not warrant or guarantee that the functions contained in the work will meet your requirements or that its operation will be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inaccuracy, error or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the content of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even if any of them has been advised of the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. DOI: 10.1036/0071405542
Page 1 and 2: TEAMFLY Team-Fly ®
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Page 11 and 12: x Acknowledgments Pringle, and Paul
Page 13 and 14: xii Introduction By necessity, The
Page 15 and 16: xiv Introduction Several senior McK
Page 17 and 18: xvi Introduction • Business Need
Page 19 and 20: element later in the book. For now,
Page 21 and 22: Introduction xix ing Chapter 1 befo
Page 23 and 24: 1 FRAMING THE PROBLEM Managing •
Page 25 and 26: Framing the Problem 3 THE McKINSEY
Page 27 and 28: Framing the Problem 5 ple. I think
Page 29 and 30: Framing the Problem 7 possible or n
Page 31 and 32: Framing the Problem 9 We framed the
Page 33 and 34: Framing the Problem 11 This techniq
Page 35 and 36: Framing the Problem 13 able to boun
Page 37 and 38: Framing the Problem 15 on time, mak
Page 39 and 40: Framing the Problem 17 In a white r
Page 41 and 42: Framing the Problem 19 guesstimates
Page 43 and 44: Framing the Problem 21 table, but a
Page 45 and 46: Framing the Problem 23 sure your su
Page 47 and 48: Framing the Problem 25 Dan Veto fou
Page 49 and 50: Framing the Problem 27 The issue
Page 51 and 52: Framing the Problem 29 CONCLUSION B
Page 53 and 54: 2 DESIGNING THE ANALYSIS Managing
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Designing the Analysis 33 of the te
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Designing the Analysis 35 • Let y
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Designing the Analysis 37 ally corr
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Designing the Analysis 39 reach an
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Designing the Analysis 41 really an
Page 65 and 66:
Table 2-1. Work Plan for Issue in A
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Designing the Analysis 45 Responsib
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Designing the Analysis 47 CONCLUSIO
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3 GATHERING THE DATA Managing • T
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Gathering the Data 51 RESEARCH STRA
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Gathering the Data 53 of the busine
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Gathering the Data 55 By devoting m
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Gathering the Data 57 the purchase
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Category Name Description Cost Loca
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Gathering the Data 61 book, we used
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Gathering the Data 63 bits of infor
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Gathering the Data 65 upbringing, p
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Gathering the Data 67 Managing Your
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Gathering the Data 69 was a bit mor
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Gathering the Data 71 ning and busi
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Gathering the Data 73 itate resista
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Gathering the Data 75 occurrences,
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Gathering the Data 77 Culture • U
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Gathering the Data 79 At McKinsey,
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Gathering the Data 81 Knowledge tra
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4 INTERPRETING THE RESULTS Managing
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Interpreting the Results 85 UNDERST
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Interpreting the Results 87 half an
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Interpreting the Results 89 we pres
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Interpreting the Results 91 That an
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Interpreting the Results 93 data ca
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Interpreting the Results 95 In this
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Interpreting the Results 97 mental
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Interpreting the Results 99 We’ll
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Interpreting the Results 101 EXERCI
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5 PRESENTING YOUR IDEAS Managing
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Presenting Your Ideas 105 meets thi
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Presenting Your Ideas 107 sumer goo
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Presenting Your Ideas 109 Strong co
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Presenting Your Ideas 111 Figure 5-
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Presenting Your Ideas 113 have an e
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Presenting Your Ideas 115 One last,
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Presenting Your Ideas 117 stacked w
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Presenting Your Ideas 119 More impo
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Presenting Your Ideas 121 I was on
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Presenting Your Ideas 123 when pres
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Presenting Your Ideas 125 • Ident
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6 MANAGING YOUR TEAM Managing • T
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Managing Your Team 129 In this sect
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Managing Your Team 131 McKinsey alu
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Managing Your Team 133 of whom prep
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Managing Your Team 135 IMPLEMENTATI
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Managing Your Team 137 COMMUNICATIO
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Managing Your Team 139 Alan Barasky
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Managing Your Team 141 Let’s comp
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Managing Your Team 143 BONDING The
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Managing Your Team 145 Maybe they s
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Managing Your Team 147 phies, and p
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Managing Your Team 149 ble, have ot
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Managing Your Team 151 tions yield
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Managing Your Team 153 The quantity
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Managing Your Team 155 mance. The a
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Managing Your Team 157 CONCLUSION T
Page 181 and 182:
7 MANAGING YOUR CLIENT Managing •
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Managing Your Client 161 In fact, M
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Managing Your Client 163 ing new en
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Managing Your Client 165 EXERCISES
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Managing Your Client 167 nization a
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Managing Your Client 169 the Firm w
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Managing Your Client 171 not sugges
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8 MANAGING YOURSELF Managing • Te
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Managing Yourself 175 tor. Even tho
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Managing Yourself 177 self, you hav
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Managing Yourself 179 Obviously, ev
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Managing Yourself 181 Working backw
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Managing Yourself 183 Share the loa
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Managing Yourself 185 You might wan
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Appendix A DATA-GATHERING RESOURCES
Page 211 and 212:
Data-Gathering Resources 189 The ma
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Data-Gathering Resources 191 INDUST
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Data-Gathering Resources 193 • In
Page 217 and 218:
Data-Gathering Resources 195 the wo
Page 219 and 220:
Data-Gathering Resources 197 COMPAN
Page 221 and 222:
Data-Gathering Resources 199 and to
Page 223 and 224:
Data-Gathering Resources 201 are lo
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Data-Gathering Resources 203 Librar
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Appendix B LESSONS FROM THE McKINSE
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Lessons from The McKinsey Way 207 A
Page 231 and 232:
Appendix C IMPLEMENTATION LESSONS T
Page 233 and 234:
Implementation Lessons 211 Chapter
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INDEX Academic Universe, 201-2 Acce
Page 237 and 238:
Index 215 Federal government, 8-9 F
Page 239 and 240:
Index 217 Performance ratios, 190 P
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THE McKINSEY WAY

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