Read Online Now the firm story of mckinsey and its secret influence on american business ebook duff mcdonald Ebook PDF at our. Library. Get the firm story of. Download PDF The Firm: The Story of McKinsey and Its Secret Influence on American Business | PDF books Ebook Free Download Here. Get Instant Access to PDF File: #d The Firm: The Inside Story Of Mckinsey , The World's Most Controversial Management Consultancy.
|Language:||English, Spanish, Japanese|
|Genre:||Health & Fitness|
|ePub File Size:||17.58 MB|
|PDF File Size:||11.61 MB|
|Distribution:||Free* [*Regsitration Required]|
THE FIRM. THE INSIDE STORY OF MCKINSEY: THE WORLD'S MOST CONTROVERSIAL. MANAGEMENT CONSULTANCY. DUFF MCDONALD. Editorial Reviews. From Booklist. McDonald is a contributing editor at Fortune magazine and the New York Observer; he has also written for Vanity Fair, New. The best evidence for McKinsey's expertise is the firm itself. But the McKinsey story is even more than all of that. Today McKinsey is a global success story.
And yet the consultants are rarely blamed for their bad advice—at least not publicly so. It really is no surprise that Rajat Gupta, the former McKinsey managing director, was dealing in inside information from his seat in the boardroom of Goldman Sachs. Delivering actual results is a different story. In short: It literally happens about once a week. This Firm is the story of Mckinsey, one of the foremost management consulting firms in the world. Scintillating and exciting.
McKinsey pursued success by combining an ability to focus relentlessly with a knack for breaking rules. And he decided early on that he would gain power by speaking truth to it. He was quite poised, wrote William Newman, who worked with McKinsey in the s. No trace of Ozark poor farm boy, not the least. He wanted to succeed, but he also wanted to have money, the satisfaction that he did have money and that he was free to spend it.
In Time Inc. But Luce was also correct in the literal sense: The American Century had actually started several decades before.
It could serve an entire continent and beyond, if it had the wherewithal to get the organization and logistics right. The economic historian Alfred Chandler documented the momentous changes in what came to be known as the Second Industrial Revolution in his seminal book Scale and Scope —the title of which referred to the simultaneous revolutions in both scale in manufacture and scope in distribution in American enterprise.
Those twin revolutions transformed the United States from an agrarian society to an industrial powerhouse in the span of a single generation. By that proportion had jumped to 36 percent, exceeding that of Great Britain. This brought with it a dilemma that has preoccupied business leaders ever since: Moving from a single-product, owner-run enterprise into a complex and large-scale national one is a difficult task.
First, you have to build production facilities massive enough to achieve the desired economies of scale. Second, you have to invest in a national marketing and distribution effort to ensure that sales have a chance of matching that scaled-up production. And third, you have to hire, train, and trust people to administer your business. Those people are called managers, and in the first half of the American Century, they were in very short supply. The benefits to successful first-movers were gigantic.
In industries where only one or two companies took the plunge early, they dominated their field for a very long time to come; this group includes well-known names like Heinz, Campbell Soup, and Westinghouse. Power had to be ceded to the extremities. The question was how.
It was a quandary that beguiled some of the great thinkers of the time, including political scientist Max Weber, who argued that a systematic approach to marshaling resources through bureaucracy was a necessary and profound improvement over pure charismatic leadership. In his book American Business, — In the running of a company of whatever size, the hardest thing to manage is usually this: To put it another way, the problem is exactly where within the company to lodge the power to make different kinds of decisions.
According to Chandler, DuPont sent an emissary to four other companies experiencing similar issues—the meatpackers Armour and Wilson and Company, International Harvester, and Westinghouse Electric—to ask what they were doing.
The innovators moved from the centralized system to a multidivisional structure with product and geographic breakdowns. The concept left operating division chiefs with total control over everything except funding resources.
Top managers took a more universal view of the business, monitoring the divisions and allocating capital accordingly. Steel, all employed some variant of this model. But by and large, they had developed these ideas on their own, a process of trial and error that was costly and time consuming. They would have much preferred hiring outside experts to help them with it, if only such experts existed. This was a huge commercial opportunity that called for an entirely new kind of service.
Unwittingly, the federal government did its part to create the modern consulting business. Starting in the last part of the nineteenth century, Washington made periodic regulatory efforts to curb the power of big business, including the Sherman Antitrust Act, the Federal Trade Commission Act and Clayton Act of , and the Glass-Steagall Act of The intended effect of these measures was to prevent corporations from colluding with one another to fix prices and otherwise manipulate the markets.
The unintended effect, according to historian Christopher McKenna, was to accelerate the creation of an informal—but legal—way of sharing information among oligopolists. Who could do that?
Regulatory efforts paid another rich benefit to the likes of McKinsey: Restricted from cutting backroom deals with each other, firms were thus obliged to actually compete, which meant they needed to make their operations more efficient. Here again, consultants were the answer.
But perhaps the circumstance that most aided the creation of the consulting industry was the entry of a new, key player into business itself.
Empire builders with names like Carnegie, Duke, Ford, and Rockefeller had built huge, vertically integrated companies, but they had neither the time, the talent, nor the inclination to create and carry out management systems for those entities. These were the conquerors of capitalism, not its administrators. And yet, as Chandler pointed out, their strategies of expansion, consolidation, and integration demanded structural changes and innovations at all levels of administration.
Into the breach stepped a new economic actor who was neither capital nor labor: Gradually, he replaced the robber baron as the steward of American business. Alfred P. Sloan, the legendary president of General Motors, was the first nonowner to become truly famous for his managing skills.
His decentralized, multidivisional management structure gave GM the agility to outmaneuver the more plodding Ford Motor Company and snatch the industry lead. Ford may have revolutionized manufacturing, but Sloan realized that the car-buying market had become big enough to be segmented into people who bought Buicks, Cadillacs, Chevrolets, Oldsmobiles, and Pontiacs.
By the late s, the car market was maturing, and people wanted choice. Sloan also gave them the ability to buy a car on credit —a groundbreaking idea at the time. Sloan and his ilk were perfect customers for McKinsey: Lacking the legitimization of actual ownership, professional managers felt great pressure to show they were using cutting-edge practices.
And who better to bring those practices to their attention than consultants who were talking to everyone else? Thus began the era of managerial capitalism. But the revolution in management thinking in the United States offered up an alternative idea: The academy helped move this ideology along. The Tuck School of Business at Dartmouth followed in Over the next decade, pretty much every major. This action might not be possible to undo.
Are you sure you want to continue? Upload Sign In Join. Save For Later. Create a List. The Firm: Read on the Scribd mobile app Download the free Scribd mobile app to read anytime, anywhere. Sep 10, ISBN: The McKinsey Mystique 1.
The Ozark Farm Boy 2. The Making of the Firm 3. The Age of Influence 4. The Decade of Doubt 5. A Return to Form 6. The Crucial Question: Are They Worth It or Not?
Revenge of the Nerds 8. The Money Grab 9. Bad Advice Retrenchment Breaking the Compact Epilogue: Stepping into the Breach Unwittingly, the federal government did its part to create the modern consulting business. Start your free 30 days. Page 1 of 1.
Close Dialog Are you sure? Also remove everything in this list from your library. An annual anal Embed Size px. Start on.
Show related SlideShares at end. WordPress Shortcode. Published in: Full Name Comment goes here. Are you sure you want to Yes No. Be the first to like this. No Downloads. Views Total views. Actions Shares. Embeds 0 No embeds.
No notes for slide. PDF The Firm: In this case that McKinsey has a secret influence on American business. Its not really that secret.
I am trying to bring a fresh angle so will hold multiple contradictory thoughts a McKinsey sucks up really useful talent who would change the world but lack any individuality or the risk appetite to have a real impact b McKinsey rips off its clients because it really does not deliver anything except inflated fees but yet is able to wreck companies. The fundamental issue is this. Business is not all that interesting - case in point I have sat in countless meetings and never, not once has someone suggested hiring an assasin to get rid of a particular problem.
Someone once threw a water bottle at someone which was plastic so again not all that interesting. Whats even less interesting then business usually is consulting to business. Which in my time consisted of being asked to run endless analysis while pretending to be really chipper about it all so that the partner could come back and tell you that it was all tremendously useful and appreciated.
Then after a certain stage you go to the meeting as well and realize that no-one in their right mind is ever ever going to read it and if they did they are not going to do anything about it, you then surpress that thought because it would do incalculable damage to your self esteem. Its all a bit duff like this book. Sep 19, Marks54 rated it liked it.
This is an updated company history of McKinsey, the strategic consulting firm that has been so successful that it has come to define the standard for providing management advice. The story follows the firm from its inception to the recent insider trading scandal involving former managing director Raj Gupta. The book presents a curious mix of popular acclaim, criticism of the dark sides of the consulting business legitimating management decisions, justifying downsizing, providing inside informati This is an updated company history of McKinsey, the strategic consulting firm that has been so successful that it has come to define the standard for providing management advice.
The book presents a curious mix of popular acclaim, criticism of the dark sides of the consulting business legitimating management decisions, justifying downsizing, providing inside information from other clients, etc. The basic narrative is well known to anyone who has followed McKinsey in the popular business press and the relatively few quality popular books on the area The Witch Doctors, for example.
Some of the additional insights into the industry is lifted with attribution from other sources such as Alfred Chandler or Kiechel's The Lords of Strategy. Overall, the story is well known, but the updating of the McKinsey firm into the 's is useful and worth reading to anyone interested in following the industry.
The style is typical of the higher end business trade press and is not difficult to follow. This fills the niche for consultants that recent books about Goldman Sachs do for investment bankers.
May 17, Ravi Shrivastava rated it really liked it. This book is worth a read. Sep 06, Andrew Worsley rated it did not like it. Book 22 The Firm: The book traces the story of McKinsey — how James McKinsey founded the firm in the s in effect giving birth to the consulting industry and how after his pre mature death, Martin Bower led McKinsey laying down its principles and ground rules to emerge as one of the most influential firms in America with its services being used by the most prestigious companies across sectors and even Governments.
The last part of the book discusses the Rajat Gupta, Anil Kumar fiasco in detail where McDonald insinuates that the firm has lost its ethicality when a former Managing Director and Director are embroiled in Insider trading charges — case of bad apples or the firm values gone wrong — he takes an extreme and might I add — a one sided view.
The book fundamentally asks the question — Has McKinsey made the world better? Has it helped businesses the way it intended to? And he answers in an ambivalent manner — Yes or maybe No — an answer occasionally pointing towards the former but majorly hinting towards the latter. Decent Read.
Though would love to read more on this. Jul 12, Huong Man rated it it was ok Shelves: Jul 31, Sana Vasli rated it it was ok. Well written and researched book, but highly misleading. The tagline of the book is click bait. It's not a tale of a controversial firm. It's a promotional book, massively in favour of them.
All of the "gotcha" moments weren't compelling enough for me to be suspicious of McKinsey. In fact I finished the book respecting what they have achieved. They co-invented the barcode and the White House Chief of Staff!
This book shares some interesting things about McKinsey and you should only read if you wo Well written and researched book, but highly misleading. This book shares some interesting things about McKinsey and you should only read if you work there or interested in the company. Sep 18, Jeff rated it it was amazing. Duff McDonald's business writing has always been underlined by his expertise in addition to writing for the likes of Fortune, Vanity Fair, New York, Conde Nast Portfolio, and many other publications, he is the author of a biography of Jamie Dimon and has himself worked on Wall Street.
His writing is clear, brimming with content, and infused with a story-teller's instinct for narrative. This detailed account of the entire history of McKinsey showcases all those positives, while nicely elucidati Duff McDonald's business writing has always been underlined by his expertise in addition to writing for the likes of Fortune, Vanity Fair, New York, Conde Nast Portfolio, and many other publications, he is the author of a biography of Jamie Dimon and has himself worked on Wall Street.
This detailed account of the entire history of McKinsey showcases all those positives, while nicely elucidating the role this shadow company has played in shaping contemporary America. View 1 comment.
In my second year of management consulting, I'd worked on a project that involved detailing the history of Management Consulting as an industry. So, could connect very well with the details provided in the book from inception to evolution to current state of McKinsey. Plus, I have been a management consultant, though for a very short period of 13 months and could relate to the author's arguments about how McKinsey, a large organisation with no tangible product influences not just the corporate, In my second year of management consulting, I'd worked on a project that involved detailing the history of Management Consulting as an industry.
Plus, I have been a management consultant, though for a very short period of 13 months and could relate to the author's arguments about how McKinsey, a large organisation with no tangible product influences not just the corporate, but also the public sector.
Dec 31, Emma rated it really liked it. This book confirms many or my prior opinions and insights, that McKinsey is the Microsoft of today, too large, too overblown, and run by people while smart are out of touch with the realities of how business operates.
Worse, some of its leadership have been convicted of illegal practices, and even though that number is small, others involved with Enron, HP, the economic crisis, and others, McKinsey side stepped responsibility by telling the world that, while they provide strategic advice they do This book confirms many or my prior opinions and insights, that McKinsey is the Microsoft of today, too large, too overblown, and run by people while smart are out of touch with the realities of how business operates.
Worse, some of its leadership have been convicted of illegal practices, and even though that number is small, others involved with Enron, HP, the economic crisis, and others, McKinsey side stepped responsibility by telling the world that, while they provide strategic advice they don't actually pull the trigger. So, I'm not sure if I like it out of confirmation bias or what little new information I learned from it. A remarkable story nonetheless.
Mar 04, LeikHong Leow rated it liked it. I was attracted to the book by its title - McKinsey. I like to learn how McKinsey became the world-leading consulting firm.
This book shared the whole history of the firm, how it was founded and the rise and fall for the last 80 years. To me, this book is more like a history book of the firm, not many ideas on how they did it.
Most parts of the stories were elaborating their legendary leaders, I was hoping to find out about the strategies instead. Feb 20, Evan rated it liked it Shelves: This was an interesting book, but it didn't seem well organized to me. McKinsey has such a long history that I think it would be difficult to write a detailed summary of the firm.
There was much interesting information, but I feel like the author tried to cover too many small examples. Maybe this would be a better book for someone who is more familiar with events that occurred over the span of the book.
There were lots of interesting facts, but it almost felt like too many. Feb 19, Dave Mason rated it it was amazing. Great read to get an understanding of macro biz trends during the past years, and to learn arguably who McKinsey has influenced them, and how. I work in an agency, so it's interesting to read how a consulting firm can scale its business like McKinsey has. I took notes and learned something.
Sep 21, Christopher Anderson rated it did not like it Shelves: I used to be able to count on one hand the number of books I give up on - now it takes two. This is a dry and uninteresting pile of generalities. Life is too short to waste time reading this book. Feb 02, Robert rated it liked it. Good insight into the world of consulting and how a company ethical code can get lost on the way to making large amounts of money. Scintillating and exciting. Feb 21, Tom rated it liked it.
An institutional biography of the consulting firm, McKinsey. Interesting to learn more about how consultants operate, the arrogance, the massive fees, and the all-too-frequent questionable advice.
The book contains many stories about McKinsey's bad advice that led to massive business failures, and yet McKinsey never took the blame for any of them. For example, why were no McKinsey directors subpoenaed after Enron's failure? They were basically running the company. They were flying perpendicular to where they should have been.