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Summary: This is what you are supposed to learn in college.
Review: Ever wonder the purpose of going to college when you don't remember or use most of what you learned? At the very least, you are supposed to have gained general problem solving skills. This book titled 'The McKinsey Way' is actually nothing but a systematic approach to managing the most common problems you will run into while working in Corporate America. These are the tested and proven success techniques that have worked for the consultants at McKinsey explained in very simplistic terms. If you have a college degree, the chances are that you are already aware and exposed to a lot of these techniques. Nevertheless, it is definitely worthwhile spending a few dollars to own a copy of this book. The observations made in this book are those that are universal and don't necessarily change with time. So, the benefits of reading this book and applying these techniques can be very long lasting. The author's writing style makes it very easy to read and understand the different topics presented in the book. The chapters can be read independently and so can the different sections in each chapter. Hence, you can read the book a few pages at a time and still benefit tremendously. You can start applying these techniques right away so the benefits of reading this book can be seen immediately. It may be hard to believe that McKinsey is known to charge up to $800/hour for just doing these simple things but they do accomplish valuable results. And that's why corporations are willing to pay such a high price for McKinsey's consultants. Have fun reading this book and I hope you benefit from reading this book as much as I did! Did I mention that it has proved to be a great conversation piece?
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Summary: The McKinsey Way
Review: The main idea in the book was to provide readers with skills and techniques that McKinsey successfully uses. Alongside that, the author provides some insight into the firm and the responsibilities of the employees. This is a very useful source of helpful information to find out about the way McKinsey works to solve problems that are obstacles to a successful business. Accommodating tips are provided to help identify a problem, communicate with team members and jump-start research on a problem-solving project. Other great guidelines, such as ideas for brainstorming, effective messaging and structured presentations are included. The author writes about his own and others' experiences while working for this competitive business consulting firm. Its employees are trained to aim for perfection, sacrifice long hours of overtime while giving their best at the job. Sharp analytical ability is essential in being a part of the team. The aptitude to break problems down and come up with solutions using various techniques discussed in this book are definitely helpful tools in leading a successful business.
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Summary: nothing you couldn't guess
Review: this book was a complete disappointment. it claims to educate business professionals about The McKinsey Way of solving problems. Apparently this amounts to gathering data before proposing a solution and other obvious sentiments. I'm sure McKinsey is a great company, but there are better examples of strategic thinking than those found here.
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Summary: Work Hard & Get organised is the message!
Review: This book has some wonderful ideas and concepts.One should read the book if he/she wants to know about any of the following: *Elevator Test *Waterfall Model *How to make a successful presentation? *Do you want a McKinsey Life,Approach? *McKinsey recruiting style(more personal experience in this book,if you want a better one try vault.com) *How to maintain sanity while travelling on business assignments? *How to organise yourself better in the 24 hrs of a day? *What is the importance of simplicity in presentations? *How to handle people in a team if you are a team leader/working for a client/if you are part of a team?(Mind it concepts discusssed range from arm-twisting,politics,factionalism,corporate kicks and jabs,carrot and stick theory etc etc.) *Mentoring and its usefulness. *How to survive at McKinsey if you plan to be in there and kicking after the first couple of years? ****This book is not about management consultancy and Ethan Rasiel is not trying to teach it in this book.He talks about the way things are at McKinsey and how somebody can adapt to it/use those principles in his working life.******* ########This book is about life in the topmost management consultancy firm of the world and is the ultimate insider to an employee's life in it#########
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Summary: Short, clear introduction into management consultancy
Review: McKinsey & Company is a world-famous strategic consulting company, also known as "The Firm". Ethan Rasiel worked at McKinsey & Co. for several years and provides a quick, clear introduction into management consulting firm's problem solving methods. "I wrote this book with the goal of communicating new and useful skills to everyone who wants to be more efficient and effective in business. ... In addition, this book will give any executive woho works with management consultants, whether McKinsey or elsewhere, some insight into how these strange beings think." The book is split up into five parts. In Part I, Ethan Rasiel explains the McKinsey-way of thinking about business problems. The author explains that the solution of the problem needs to be fact-based (facts are friendly), rigidly structured (MECE = mutually exclusive), and hypothesis-driven (solve the problem at the first meeting - the initial hypothesis). In addition, the author explains how McKinsey-ites approach business problems and apply the McKinsey problem-solving process to maximum effect. There is also a short introduction into a number of rules which McKinsey-consultants use for problem-solving purposes: the 80/20-rule, find the key drivers, the elevator test - sell in 30 seconds, make a chart every day, look at the big picture, say "I don't know", and don't accept "I have no idea". In Part II, the author introduces the McKinsey-way of working to solve business problems. The author explains the selling process at McKinsey (the Firm does not sell, it markets), how to structure an engagement, and assembling of a team. Then the author comes to the most important part of the book, doing research, conducting interviews (the author insists on reading Chapter 8 - Conducting Interviews - "If you read no other chapter of the book from start to finish, read this one."), and brainstorming. In Part III, the author, and the McKinsey-way of selling solutions. This part discusses the way McKinsey makes presentations, which is one of the strongest parts of McKinsey according to the author, displays data with charts (read Gene Zelazny (1985), 'Say it with Charts'), and the way to work with clients. In Part IV, Rasiel gives some lessons how "McKinsey-ites" have learned for coping with the stresses of life at the Firm, and in Part V, the author recounts the lessons he learned at McKinsey and shares memories of various ex-McKinsey-ites. Both Part IV and V are 'a waste of paper' in comparison to the first three parts, but gives a little insight into what goes on behind the scenes at McKinsey & Co. Yes, I can understand that some readers are disappointed by this book as it gives just an introduction into management consultancy (and McKinsey & Co). The author introduces the various problem-solving methods and tools, but does not discuss them in great detail. For more details on these methods and tools you will have to read some other literature. The book uses simple US-English.
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Summary: should have been called "what it's like to work at McK"
Review: This is a good book about what it is like to work as a management consultant, but not a very good book about how to think like one. I liked a lot of this book, such as his explanation of how to conduct an interview. I also liked his discussion about working late producing documents. However, many parts of this book were useless (the section on charts basically tells you to read the book "Say it with Charts"), and others were wrong (the example used for MECE was actually not mutually exclusive and collectively exhaustive). Additionally, as a consultant who didn't travel or work very much at client sites, Rasiel couldn't give a complete picture of the consulting lifestyle. In short, this is an interesting read if you are thinking of joining a management consulting firm; it does a decent job describing one person's experience. But it isn't a good book on business in general, or even on the history of McKinsey.
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Summary: Ironic
Review: Like the firm itself, the draw of this book is the McKinsey name, and the perception that they *must* know something special. Content-wise you could do better with the user manual for your HP 12C calculator. If the book serves any useful purpose it's to strip a little more of the paint off the McKinsey facade. Read it, but check it out from the library because there's nothing in it you will want to reference later.
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Summary: Avoid
Review: There is very little information in this book that would justify its purchase. Interestingly, even if the author's only goal was to provide an entertaining account of life within McKinsey, he would fail. Basically, there is no actionable information for the practicing consultant nor any material for a third party looking for insights into the consulting world or McKinsey.
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Summary: Excellent Read for any Business professional
Review: This book is excellent in that it gives the reader an inside look at the culture of McKinsey and Co. as well as some practical insight to complex problem solving. The nice thing about this book is that it doesn't have to be read in order, but you can sample different sections of the book, as the author explains, "like a box of chocolates." Truly delicious it is, giving us the 80/20 rule, which really rings true, and the elevator test which are both great rules for any profession. You also get McKinsey unique approach to problem solving as well as some great McKinsey stories. Also,if you're an MBA student and considering career options, this is a must read.
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Summary: 101 Tips on Improving Your Professionlism
Review: This book is easy to read and a meaningful way to be more effective at work. It outlines some practical steps to
gather information, motivate teams, think proactively, market services and ensure customer satisfaction. Although many of the ideas are common sense, I recommend this book strongly for people who are paid to solve problems. Some highlights: 1) After gathering the relevant facts, segregate the issues so they are MECE (mutually exclusive, collectively exhaustive). This will help make sense of the chaotic data and help clarify the problem. (pg 10) In fact, sometimes the problem that the client brings you is not even the real problem. 2) Use hypotheses and analysis frameworks (Porter's five forces etc...) but do not fall in love with your original hypothesis. 3) Consulting work is not in a vacuum. Be aware of the internal politics and remember that a good recommendation is one that can realistically be implemented. 4) To increase the customer's ROI, focus on the main problems (80/20 principle) and stop analyzing when you have the answer or you see diminishing marginal returns. As the author quaintly put it, "Don't boil the ocean." (pg 32) There are many others, but let's not spoil the book. ;)
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