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McKinsey and its consulting industry peers face headwinds
- pg_1234 3y agohttps://archive.ph/q4v16 https://archive.ph/q4v16
- lenerdenator 3y agogood.jpg It's really too bad that Jeff Skilling is one of the few notable McKinsey associates who have ever spent real time in prison. There should be more.
- jncfhnb 3y agoBecause… you want more Enron’s?
- chihuahua 3y agoThe way I interpret GP is not that they want more crimes to be committed, but rather that McKinsey people are already committing plenty of crimes, but only one of them went to prison so far.
- jncfhnb 3y agoNice nuanced opinion I guess.
- grotted 3y agoSays the McKinsey employee.
- jncfhnb 3y ago… yeah. Not too keen on someone saying me and my peers should go to prison without having committed a crime tbh.
- _jal 3y agoThe argument is that there are plenty of unprosecuted crimes already, obviously. I understand why you might disagree with that, and I understand why your reading comprehension might work better when not discussing your employer, but I have to say, you're really not helping your firm's reputation here.
- jncfhnb 3y agoThat’s not really the argument though. Because the person in question was prosecuted for something unrelated. It’s just a blanket request for people who work there to go to jail. It also (probably unintentionally) calls out entry level workers specifically.
- tecleandor 3y agoWell I don't know about your business in McKinsey, but just in case you don't know about your company's criminal record (bad if you do, bad if you don't), you could a quick review of the "Controversies" section for McKinsey in Wikipedia, including colaboration with authoritarian regimes, corruption in south Africa, arms business with Russia, jail consulting... When was the last opioids crisis settlement, a month and a half ago? How much is it already? Almost a billion dollars. Nuanced, yep.
- Pat_Murph 3y agoHow does more accountability for Mckinsey frauds equal more Enrons?
- jncfhnb 3y agoJeff Skilling was the CEO of Enron. His tenure at McKinsey was unrelated. He was also a partner.
- lenerdenator 3y agoBecause there are already more Enrons and no one's paying the price for it.
- jncfhnb 3y agoIt seems dubious that there are any companies like Enron in terms of scale and apparent credibility.
- swasheck 3y agomore Enron's what? i try not to be pedantic but your comment (and follow-up) seem to deliberately miss the point of the parent post.
- jncfhnb 3y agoMore instances of companies like Enron, in which someone goes to jail because they did something bad after leaving McKinsey.
- jncfhnb 3y agoStrange article. Headline is deeply negative, but the content is a bunch of vaguely related neutral-ish facts. I’m at McK and it’s just a bit slower than average imo.
- ta988 3y agoWhat was the impact of "When McKinsey Comes to Town" internaly?
- jncfhnb 3y agoEhhh a little hard to say because pandemic killed office culture for me but I’m gonna guess negligible. I thought it was a weak article personally. The previous ones were much, much more substantial. Mostly on a liberal leaning east coast folks don’t want the firm to be doing conservative or foreign authoritarian work basis. Edit: authoritarian lite, let’s say. E.g. no Russia fwiw
- ta988 3y agoI was refering to the book before I realized it was also a serie of articles. There were a few stories about the involvment of the company in tobacco, the opioid crisis, and some geopolitical stories that made it quite a bit more than just something about a liberal POV.
- jncfhnb 3y agoThat’s fine but the impactful stuff was just a rehash of stuff that people had already dealt with a year or two prior. So no, it wasn’t very impactful from my perspective.
- pseg134 3y agoWe aren’t talking about your bookings. You can’t add value when none of the tricks are secret anymore.
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- nextworddev 3y agoThe real problem is that they add less value than before, with information and best practices traveling faster than ever.
- asylteltine 3y agoMaybe finally business “leaders” are realizing how completely worthless these companies are? Business consulting is literally a bunch of Ivy League grads making PowerPoints and calling that a deliverable.
- ingoaf 3y agoBefore joining a corporation I really thought that this is an exaggeration by people who are unsatisfied by their own fate at the companies to which the consultants come. I was shocked by how true this statement is. A lot of PowerPoint slides and very little value in them.
- athrowaway3z 3y agoIts worth to remember that 25 years ago it was actually really valuable to get some people to go around a company, collect the data, and present it. But that was 25 years ago.
- Jcampuzano2 3y agoI previously worked for a large management consulting firm, but in one of their newly acquired tech/implementation teams. There are quite literally analysts and sr analysts on every project whose entire job is just creating and editing powerpoints, sending them to their partner managing the case, getting feedback and repeat. Nothing else, just powerpoints. They may sit in on some meetings themselves but don't really offer much in the way of actual expertise in any meaningful way. Many of these people have literally never worked in the sector/field they are supposed to be consulting/advising on They all have due dates basically every night for a new powerpoint presentation and that is literally the only deliverable for many of the people on a given case (client project). While I was paid a lot for the job, often multiples of the developers working for any given client and it was hyper stressful, there's probably not a single project I can think of where the client wouldn't have been better off just doing things themselves and hiring full-time positions or even contractors who aren't one of these giant complex expensive firms. Now that isn't to say there aren't a handful of very valuable/knowledgable people staffed to a project, but I'd wager on the average project only like 10-20% of people have anything of actual value to offer.
- pcurve 3y agoJohn Oliver took a big swing at McKinsey a few weeks ago. https://www.youtube.com/watch?v=AiOUojVd6xQ https://www.youtube.com/watch?v=AiOUojVd6xQ
- valyagolev 3y ago> with consulting there are no certifications, no licensing — it’s kind of a Wild West mentality I imagine how bad it would become if you'd have to get an official certification to do consulting work
- SoftTalker 3y agoKind of surprising it hasn't happened. That's the sort of regulatory capture that the big firms would love to have.
- valyagolev 3y agoeven simply expanding consultants' liability is bound to help them: they have more capital and more lawyers to fight, while any small shop would be destroyed by the first liability-related lawsuit