I am almost done with the book – The McKinsey Mind. It has been a quite enlightening read and made me think about how my present company measures on the scale. We could use quite a few ideas to improve some of our processes, I will leave it at that. But it’s not a discouragement. According to the book many huge and well-known corporations, including Fortune 500 companies, in spite of their tremendous resources and acquired experience still fall short in many dimensions compared to the McKinsey’s processes and practices.
To the author’s credit, they acknowledge the room for improvement in some of McKinsey & Company’s ways too. One area I remember specifically was in team management. According to one of alumni, “Managing the team was one of the areas in which I learned the least at McKinsey. There was some great material as you moved up, but in the early stages, it was mostly on-the-job training.” Another alumna complains that “some of the best team training came only at the higher ranks in McKinsey.”
Frankly, the book is loaded with noteworthy insights, and quotes from alumni. So putting them out here would take the whole separate blog. I will probably make more notes for myself on the second read. For now just a couple random quotes I put down for myself because they helped me to realize some issues I have myself or validate some of my long-standing suspicions:
“You can spend a lot of time improvig the precision of your models, but eventually you reach the point of diminshing returns or you lose time to market.”
“When doing your research, you don’t want to get as much information as possible, you want to get the most improtant information as quickly as possible.”
The last quote for the day is actually not from the McKinsey kin, but it was used in the book, and this is the first time I came across it: “If you come to a fork in the road, take it.” This is from Yogi Berra, famous baseball coach. If you want to get more kick out of his sayings, go here – good laugh garuanteed
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