Case Study

Mckinsey & Company

1) How was this obscure little firm of “accounting and engineering advisors” able to grow into the world’s most prestigious consulting firm in the fifty years? What was the unique source of competitive advantage developed by James O.Mckinsey and later Marvin Bower?

Answer: The thing which I admire was the concept which Mckinsey’s adopted “one-firm”. It is really important for firms to stick to the plan and remain focus when achieving their targets. Unlike many other companies that tended to get separate by office and sometimes results internal battles over different issues. It started in 1932, when Mac recruited Marvin Bower a bright young lawyer with a Harvard MBA, and asked him to become manager of newly opened New York office. He was expected to build firm’s image where they could successfully provide services in efficient and effective manner. Bower utilized his experience and showed professionalism he learned from law partnership.

Competitive advantage:

- Visionary thinking: made it clear things which are most important to top management like, stick to high standards of integrity, professionalism, and technical excellence, continuous improvement.

- As they build new offices they made sure to stick to the plan of One firm policy, they took responsibility of their clients and also conducted dinner, seminars to get good cordial relation and remain engage with their clients and provide them with useful information.

- Profitability was not their only motive. Continuous improvement in services provided to the clients and making sure they are satisfied.

2) How effective was Ron Daniel in leading Mckinsey to respond to challenges identified in the Commission on firm Aims and Goals? What contribution did Fred Gluck make to the required changes?

Answer) it is important to know why it took so long to make changes to system which was lacking consistency. Following are the reasons:

- Most firm members...