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Somewhat related: The book When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm (by Walt Bogdanich and Michael Forsyth
by FabHK 3y ago
Somewhat related: The book When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm (by Walt Bogdanich and Michael Forsythe) exposes the short-sighted, amoral, and insidious way the firm often operates and advises. There are many instances recounted (advising oil companies, tobacco, Saudi Arabia, the Sackler family on how to sell more OxyContin, etc.).
What made me most angry, though, is how they turned an insurer (AllState, if memory serves right) from a sleepy mom-and-pop shop that collected premia and paid most of them out again when a covered loss occurred into a profit-maximising entity whose bosses were "incentivised" with stock options and implemented McK's glorious plan to boost profits by making it incredibly hard for victims to get their rightful payments. Absolutely despicable.
- jjeaff 3y agoAlso frustrating is that the advice given by McKinsey, in general, seems to be rather mundane and obvious. But it is completely amoral and sometimes cruel, so executives need someone else to come in and suggest it so they can push the bad PR as well as the guilt off to the consultancy who is long gone by the time the blowback starts.