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The McKinsey Way: Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business (Hardcover)

by Ethan M. Rasiel (Author) "Like all things McKinsey, the Firm's problem-solving process has three major attributes ..." (more)

3.0 out of 5 stars See all reviews (38 customer reviews)

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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 by Ethan M. Rasiel
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Product details

Hardcover: 187 pages
Publisher: McGraw-Hill Professional (1 Mar 1999)
Language English
ISBN-10: 0070534489
ISBN-13: 978-0070534483
Product Dimensions: 23.4 x 15.5 x 2.3 cm

Average Customer Review: 3.0 out of 5 stars See all reviews (38 customer reviews)

Amazon.co.uk Sales Rank: 28,676 in Books (See Bestsellers in Books)

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Product Description

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The McKinsey Way, by former McKinsey & Company associate Ethan M. Rasiel, provides a through-the-keyhole perspective on the way this worldwide consulting institution approaches--and solves--the myriad professional problems encountered by its high-powered clientele. His goal, Rasiel writes, is simple: to communicate "new and useful skills to everyone who wants to be more useful in their business." He then does so by explaining the highly structured, fact-based proprietary methodology that McKinseyites are taught to employ with their Fortune 100 clients, complete with details on the entire process from first considering the basic situation at hand through finally selling a solution to the appropriate powers that be.

All of the critical steps (assembling a team, managing a hierarchy, doing research, conducting interviews, brainstorming) are broken down into specific actions and fleshed out with applicable examples that Rasiel has gathered through interviews with dozens of other former McKinsey employees. The concluding sections on surviving the mythically grueling pace at the organization, known simply to insiders as "the Firm," are designed to help readers successfully tackle the similar challenges and obstacles they regularly face in their own work environments. --Howard Rothman

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Both a behind-the-scenes look at one of the most admired and secretive companies in the business world and a toolkit of problem-solving techniques without peer, THE MCKINSEY WAY is fascinating reading that empowers every business decision maker to become a better strategic player in any organization.

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Inside This Book (Learn More)

First Sentence
Like all things McKinsey, the Firm's problem-solving process has three major attributes. Read the first page

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	62% buy the item featured on this page: The McKinsey Way: Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business 3.0 out of 5 stars (38) �10.99
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Customer Reviews

38 Reviews

5 star:		(10)
4 star:		(8)
3 star:		(3)
2 star:		(6)
1 star:		(11)

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3.0 out of 5 stars (38 customer reviews)

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22 of 25 people found the following review helpful:

4.0 out of 5 stars Short, clear introduction into management consultancy, 29 Dec 2002

By	Gerard Kroese (The Netherlands) - See all my reviews (TOP 1000 REVIEWER) (REAL NAME)

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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3 of 3 people found the following review helpful:

1.0 out of 5 stars Just awful, 25 Aug 1999

By A Customer

If I could have given it a zero, I would have. I've worked for McKinsey for the past twelve years, and I was stunned at the lack of insight in this book. Even the few observations the author got right are out of date, as the Firm has changed quite a bit in the past few years and this author left McKinsey quite a while ago. I can't imagine how he ever sold this one to a publisher. Vaporware.

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14 of 18 people found the following review helpful:

1.0 out of 5 stars This book is what McKinsey is about..., 9 Aug 2005

By	Marc Feuerstein (Brussels, Belgium) - See all my reviews

This book is unintentionally a clear representation of these "elite" consulting firms:
- Too expensive for what it is
- Nice cover and picture ... but big letters and no content (have a read of the "Surviving at McKinsey" chapter for a good laugh)
- Inflated ego (eg: "McKinsey is to management as Cartier is to jewels...")

If any young MBA's hope to find a few hints to enter the "ivory tower", don't look here.

In conclusion, please find my "strategic recommendation" about this book: don't buy it. This advise is worth a few dollars.

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Most Recent Customer Reviews

3.0 out of 5 stars It should have been so much more
As a strategy consultant I found small portions of this book quite interesting to see how McKinsey runs through its analytical framework, however as a whole it is very vague and... Read more

Published 20 months ago by M. Storer

4.0 out of 5 stars If you are new to Business Consulting, read this Book First
Friends,

Please read this book if you are new entrant to business consulting.

As a fresh incumbent, we will have many questions to kick start the... Read more

Published 22 months ago by S. Sridhar

3.0 out of 5 stars Basic overview
Buying the book I thought it would go into great depth about the techniques which McKindsey-ites use, but it failed to meet my requirements. Read more

Published on 7 Sep 2004 by Jaz

2.0 out of 5 stars Good but not Impressed
This is a good book for first time consultant or McKinsey workshipper (well, to add the glare of McK onto their book shelves). Read more

Published on 7 Aug 2001 by kixkix@hotmail.com

4.0 out of 5 stars Good bedside table business read
Packed with gems. Open at any page and read a few pages. Simple, clear & concise.

Published on 3 Jul 2001

5.0 out of 5 stars Good Practices for Those New to Team Problem-Solving
Almost everyone is asked to be on a team in order to solve a problem. Few are prepared for the experience. Read more

Published on 17 Nov 1999

4.0 out of 5 stars Tremendously practical
I found refreshing to read this book since it provided me with a reminder that, after all, consulting should be about understanding the basics, about simplicity and about... Read more

Published on 9 Oct 1999

4.0 out of 5 stars Uncommon Sense - No Decision Trees Or Calculus Equations!!!!
As you scan the other reviews you'll notice that they are heavily weighted toward both extremely high and low reviews. WHAT'S GOING ON?.... Read more

Published on 31 Aug 1999

2.0 out of 5 stars Light weight. - wait for the paperback, or library.
The admitted "meat" of the book is about 35 pages. Some of these with about 4 - 5 lines of type. It could use a better or more attentive editor. Read more

Published on 23 Aug 1999

3.0 out of 5 stars Good and Bad
I bought this book beacuse it had the magic word McKinsey in the title. In that sense I guess I was looking for a silver bullet. Read more

Published on 10 Aug 1999

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