The McKinsey Way

Rating:
Summary: Brainpower at work
Review: The need for consulting help in most companies arises due to various factors. Whatever the reason, it involves a business problem that needs a solution. Managers who have put in several years of service in the industry are often capable of finding the solution; yet the need for help from outside. The external consultants are expected to approach the problem with a open mind, analyze the issues in detail and give recommendations that are unbiased and implementable. Consulting is a demanding profession that needs multi-dimensional skills, the ability to work under stress and meet strict deadlines.

Most consulting firms have their own style and methodology. It is important to note that there is no best way since each problem on hand is different. The knowledge gained in one assignment is systematically stored for reuse and reference for future, while ensuring that the confidentiality of the client information is maintained.

To be successful, consulting requires above average IQ coupled with excellent people skills and highest level of professional integrity- A combination that is hard to find. It is this rare combination with excellence in each trait and the exceptional quality of work that has made Mckinsey one of the most admired and respected firms till date. The ability to collect enormous amounts of data, analyze it using structured techniques, working long hours for six days a week, interviewing people, steering clear of organizational politics seem to be a way of life at "the Firm".

Ethan Rasiel deserves credit on three points - Simplicity, frankness and clarity with which he has written this book based on his own experience at "the Firm".

I recommend this book to three categories of people- Managers, students and consultants.

I recommend reading this book three times - Read, understand and practice.

Yes, I seem to have picked up the habit of "three". You will soon find out why if you care to read "The Mckinsey Way".

"The Mckinsey Mind" is next in my list.

Rating:
Summary: Disappointing
Review: The cost of retaining McKinsey & Company is probably prohibitive for most organizations. Therefore, when a book appears which purports to explain the "way" of the most prestigious management consultant firm, it is certain to attract a great deal of attention and this one did. Having been involved in a number of strategic alliances over the years, ones which also involved McKinsey executives, I really expected much more from this book than it does in fact deliver. (I have the same opinion of its sequel, The McKinsey Mind, which I do not intend to review.) I recall a period years ago when the Boston Celtics were consistently winning NBA championships. At the annual All-Star game, the East squad ran Celtic plays because they were the only plays everyone knew. Lombardi's Green Bay Packer teams ran the same offense and defense season after season while winning NFL titles. What's my point? Perhaps what differentiates McKinsey from all other major management consulting firms. (whatever that "what" or "way" is) cannot be explained in a book and will only be revealed over time in direct and frequent contact with McKinsey executives. This book may be of some value to middle managers but there are so many other books which offer more and better guidance. Ironically, many of those books were written by former McKinsey partners.

Rating:
Summary: The Clear Way to learn consulting
Review: Hundereds to thousands of aspiring MBAs dream of working for THE FIRM. But a few know what it is to work at THE FIRM. Fortunately, the life and work at THE FIRM are impeccably brought to fore in The Mckinsey Way. The Mckinsey Way of problem solving, dealing with issues and the practices at one of the world's best consulting firms' are told in a most simplistic manner.The book is filled with real life examples and the narration has a touch of humour. The series of topics ranging from defining problem, hypothesis creation to the techniques of data collection, derving solutions to presenting the findings to the client are communicated effectively. The authors' stint at Mckinsey further lends credit to the book. Summing up, the book is a must read for a business studnet aspiring to be a consultant. My recommendation - a must buy for consultants and consultants to be.

Rating:
Summary: Pretty good blocking and tackling book for line managers
Review: I read both of Raisel's McKinsey books. If you can cut through the McKinsey arrogance and the endless references to the number of hours McKinsey consultants work, it is pretty good reading.

The books are written for line managers and are appropriately prescriptive and basic. As an organizational consultant I have never sat down to write out my diagnostic analyses and outputs. This documents many of the analyses I use and will help me better communicate with my clients. These books will help people in HR, IS, Training, and other functions who are looking to become value-added "business partners" collect data and analyze problems as internal consultants. If another book comes out I will read it as well. But please, no more references to late night Chinese dinners.

Rating:
Summary: Dull McKinsey self praise
Review: This book is written by someone who is more interested in portraying himself (and "The Firm") as extraordinary rather than communicating anything remotely useful to the reader.

Unlike many excellent publications from ex or current McKinsey-ites this one does no favours to the brand name of the firm.

Pick up any good old Dilbert comic book and you will find yourself more enlightened than with "The McKinsey Way".

Rating:
Summary: It's method rather than way
Review: To tell the truth, maybe the better name should be: The Mckinsey Methods. Because it's a book on "how" instead of "why", "tactical" instead of "strategical". It's not the author's fault. Well, he is a person in Mckinsey to consult for the clients, not a person in Mckinsey to manage the employees of Mckinsey, and not a person who guides Mckinsey.
So, you can learn how to do things more effective and more efficient from this book, if you can integrate all the valuable methods into your daily work. Maybe some of those items are not fit for you, it doesn't matter, of course you cannot put all of your hope on a single book. Never let a book occupy your brain, but use your own head to read them.
All in all, it's a book for those who want it to improve his daily work, but not for who want to know why it's Mckinsey, not the others.
And more you use the methods provided to improve your life, more useful the book is.
And you will feel satisfied with this book if you don't over-hope it. :-)

Rating:
Summary: Finally some substance
Review: At last, some real pointers and real insight into the consulting game - good for anyone with an interest in business. The chapters are short, to the point and easy to read - truly "MECE". Would highly recommend this to everyone.

Rating:
Summary: Very Dissappointing
Review: The book fails to delve in depth the ways of McKinsey Consulting. Lot of fluff. Very dissappointing reading.

Rating:
Summary: Insightful!
Review: Ethan M. Raisel describes the problem-solving process used by McKinsey & Company, a well-known corporate consulting firm. The book offers easily digested tips. The insightful section on conducting interviews and the tips on building teamwork are particularly useful. However, because the author and other McKinsey consultants are prohibited by confidentiality agreements from discussing the specifics of their cases, the book lacks real-world examples of the firm's problem-solving approaches. We [...] recommend this book to managers seeking useful information and problem solving techniques.

Rating:
Summary: The 80-20 Bit May Not Be New, But It's True
Review: I read this book this afternoon (big print, wide spacing).

The author describes the 80-20 pattern often found in work & life (a phenomenon already familiar to most by which 80% of your business comes from 20% of your clients, 80% of your time is spent on 20% of your to-do list, etc.)

The author demonstrates this chestnut with a book that is 20% useful and fresh and 80% no-brainer advice and shameless McKinsey advertising (we are CONSTANTLY reminded of how smart and ethical all those McKinsey consultants are; all consulting anecdotes have happy endings - unless the client screwed up; real quotes: "As any good McKinsey associate would, this young man applied himself tirelessly and diligently to his task", or "Hank knew his area of the bank inside and out and was probably as smart as any member of the McKinsey team"... high praise indeed.) McKinsey's approving editors have all the subtly of China's Xinhua propaganda agency. Trouble is: many of us know people at McKinsey...

Still, the 'waterfall' chart is among the 20% that make this book worth perusing (but not buying).