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This article does an absolutely terrible job describing work "Inside McKinsey" and seems to be more of a puff-piece for the firm than anything else. If you are
by pitdesi 15y ago
This article does an absolutely terrible job describing work "Inside McKinsey" and seems to be more of a puff-piece for the firm than anything else.
If you are interested in what management consulting is or looking for an interesting read (the background is fascinating and unexpectedly entertaining), I highly recommend the book Lords of Strategy referenced in the article. Here's the WSJ review which gives a good summary: http://online.wsj.com/article/SB10001424052748704869304575109591109900792.html http://online.wsj.com/article/SB1000142405274870486930457510...
and a BW interview of Kiechel: http://www.businessweek.com/managing/content/feb2010/ca20100226_079249.htm http://www.businessweek.com/managing/content/feb2010/ca20100...
The origins of management consulting are actually in Frederick Winslow Taylor's work around scientific management, using a stopwatch to cut excess labor on railroads... you could call it hacking labor http://en.wikipedia.org/wiki/Scientific_management http://en.wikipedia.org/wiki/Scientific_management
I worked at BCG before coming to FeeFighters, as did our CEO. My 2 roommates worked at McKinsey and Bain, so I have a pretty good perspective on the industry. This article goes way overboard on the prestige associated with working at McKinsey - noone at my school chose an offer from McKinsey if they had one with BCG or Bain (more of a culture/fit decision than anything else at that point). I worked with multiple Rhodes and Baker scholars at BCG... but you don't get to 10,000 employees only hiring the smartest guys in the room. People are generally VERY smart, but you also have partners where you wonder how they got there. There are a few different types of partners... the rainmakers (they can sell), the teachers (awesome to work with, they teach junior people a lot), and the ones that do amazing client work. I hated working for rainmakers.
Working in consulting can be an awesome time... at times, you get to do strategy work that decides how billions of dollars will be deployed (that is when you do pure strategy work). But at other times, you're spending days building gantt charts deciding who will manage a particular document in a new organization (most of the work these firms do now - they had a desire to grow, so they take on shitty operational things that they aren't well suited to, to create an "ongoing relationship" with clients). As for recycling stuff, sure - you are paid for your expertise and part of that expertise was learned at your competitors. It is no different from hiring anyone from a competitor, which happens all the time, even at junior levels. There is a huge chinese wall where you can't get information from someone who serves or has served a competitor.
BTW - there are certainly skills that transfer well from the consulting world to startups... I wrote about some of them (sub consulting for MBA) http://feefighters.com/blog/should-you-hire-mbas-at-your-startup-and-why-we-love-them/ http://feefighters.com/blog/should-you-hire-mbas-at-your-sta...
- dtap 15y agoAs a current BCG consultant, thanks for this. Have been fortunate to work on real strategy work, but have lots of co-workers doing IT diagnostics and other not-so-exciting things.
- gammarator 15y agoFor a contrary opinion, try Matthew Stewart. His book, "The Management Myth," was nicely excerpted in the Atlantic [1]. He's particularly harsh on Taylor's early experiments, which claimed to be scientific but were anything but. [1] http://www.theatlantic.com/magazine/archive/2006/06/the-management-myth/4883/?single_page=true http://www.theatlantic.com/magazine/archive/2006/06/the-mana...
- yuhong 15y ago"How many tons of pig iron bars can a worker load onto a rail car in the course of a working day?" That should be a big sign that Taylorism and scientific management is basically only suitable for industrial manufacturing.
- paganel 15y ago> He's particularly harsh on Taylor's early experiments, which claimed to be scientific but were anything but. I found it recently of how great an influence Taylorism also had on the 1920s' and 1930s' Soviet industry (which, in retrospect, makes perfect sense). From here http://en.wikipedia.org/wiki/Scientific_management#Soviet_Union http://en.wikipedia.org/wiki/Scientific_management#Soviet_Un... """ Historian Thomas P. Hughes[23] has detailed the way in which the Soviet Union in the 1920s and 1930s enthusiastically embraced Fordism and Taylorism, importing American experts in both fields as well as American engineering firms to build parts of its new industrial infrastructure. The concepts of the Five Year Plan and the centrally planned economy can be traced directly to the influence of Taylorism on Soviet thinking. Hughes quotes Joseph Stalin: American efficiency is that indomitable force which neither knows nor recognises obstacles; which continues on a task once started until it is finished, even if it is a minor task; and without which serious constructive work is impossible.... The combination of the Russian revolutionary sweep with American efficiency is the essence of Leninism.[24] """