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McKinsey & Company: Linking the Business World, Governments, and Global Institutions Who is McKiny! McKinsey & Company is a privately held global management-sulting firm that serves as a trusted adviser to the wending businesses government, and institutions. Recenied as a global leader, it has asked first as the most prestigio firm in the management consulting industry try Vult.com James Mor McKinwy, an accounting professor at the University Chicap founded McKinsey & Company in Chicago in 1921. Over the decader. McKiny & Company how to chal prominence by providing expert coming services and parering results for companies in a wide range of industries and government Today, McKinsey has a ree of 86 billion and employe almost 17.000 people worldwide, with more than 9.000 at the director level. The firm in meg the largest hins of newly minted MBA in the United States McKiny employee come from around the world.pling er 120 language and representing more than one hundred national What Does the Fires As a management consultant firm, McKinsey is approached by its clients to Analyse and silve complex problems. Its industry experience from media and entertainment to the automotive industry, chemical and manufacturing Functional expertise includes all aspects of running business, including finance, technology, sales, marketing rial and perations. McKinney has its own Global Institute who dont investigatione combine McKinney microeconomie understanding of companies and industries with the Tiger of leading macroeconomic thinking to derive perspectives on the global forces shaping business. povernment. The Global Institute in one of McKinsey'e path to assisting povertiments years of McKinsey Global Iratitute remarch shows that the mix of more within an economy explains very little of the difference in a country's GDP growth rate. In other words, dynami doesn't turn on whether he a large financial sector, or big manufacturers, semiconductor industry, but instead on whether the sectors are competitivece net. Instead of packing winners and funding wabadine te them countries motit pot the hasieright. These include a bid rule of law, with patents and protectie for intellectual property, enforceable contracts, and courts to resolver disputes comes to finance, particularly for startupsand an elent physical and communications intraretur." Why Does the Mirw Matter to International Musical This chapter dieses the international monetary system, the IMF and the World Bank. In luming about the critical parts of the global business environment, you may find yourself wondering how ently there institutions and gentle monetary systems Interact with the trusiness world Leaming about the business of a manapement conting firm like MeKiny hrips te illustrate this link. Over the decades. McKinney has helped global businesses understand how to enter new markets around the world how to compete meer electively apalit their global competitors, and how to harness efficiences and make discreetly been an advisor to powernments around the world om diverse issues, including how to amend policy and regulation to encourage more trade and investment in their countries, developing and implementing process for privatising in and creating more efficience in the public sector. At the same time. McKinsey has helped the IMF and the World Bank of policy to meet their evolving roles in the world.com Given the otten politically charged global environment, it's dear why company like McKinney prefers to remain out of the public. Much of the work that the firm in the date of people around hinderted to Mrkinly Over the decades, McKinsey has belped clobal business and how tot w markets around the world how to competere plet their global competitors, and be the filmske 3 ore Improvements in all level of in Simultaneously, McKinha discreetly been an wine to government around the world even including here to amend policy still to trade and investment in their countries, developing and implicating processes for privating industries and creating more efficaces in the public to At the same time. McKiwy has helped the IMF and the World Bank craft policy to meet their evolving soles in the world Given the often politically charged globalmente der why company like McKinsey prefers to remain out of the publice Machthe work that the form is engaged in impact the daily lives of pple and the world, Busines and government we attracted to Mekan for its sound analysis and vice but also for it digter rtv. Mcking's consultants forman enviable global network that she to former employees McKinsey spenster under a practice of meaning that coulant must either be in their care within a predefined time frame or leave the firm. It's not that consultant will leave McKinsey to join their clients in the private "McKinseiten" as they are sometimes called in evident in their inte on policy that could impact their business dent-either onesty asia or industry hain. This network here of the best school graduates to the firm. Au noted on its website, people who join McKinses find themselves part of a unique culture, shaped by shared values and desire to helpdesk substantial improvements in their performe. When cada their connection to our firm and the former colles mains et alumni mer bearly 23,000 and work in ally every in almost 120 cute Through formal and informal former McKinny consultants make and sustain professional relatie This dynamie netwerk is lasting beta career with Kinsey. Our firm pe support to alumni who want to stay in touch with and with each other. Sponsoring events weltwide. One of the more interesting aspects of McKay's husite pachine non esclusivity Coultants develop spertise and can be direct in the same industry often we this as an opportunity to learn more about competitors after short holding periods of one or two years Other companies their competitor stratepe-knowing that a competitor has hired McKinsey provides a strong impetus le companies to Kings assistance them. However, McKinsey do keep diente confidential, and consultants themes are not allowed to their work with other teams The McKiwy mystique in their interesting spect of the firm that to the secrecy that wround it. Despite it, the firm doc specific chat situat and maintains a carefully crafted up ustemal ime, which are protects it from publicatia The Mein commitment to discretion has eamed it global private and publice clients and respect Roudly condered to be the most prestigious company of its kind it has achieved a level of great to be even to you shrouding details of its work and its client list-In recy Initie rent, it addresses rutegia, organisational personal choice ince, always with a focus-according to the fundoing what is right for the client's business to what is best fre Mikiny bestemte de la the range of those specialties the list of industrial sectors the form companies verything from commodities and natural to the worlds of media entertainment and high tech While it doesn't give the names of its clients leven in case studies to them with do such as "Big Bank the firm does claim to more than 70 pro Fortune's Most Admired Companies list, mighly 90 per the top-100 corporates worldwide and so percent of the 100 largest Used companies While it's hard to know exact detail an die beste Roundly considered to be the most prestigious company of its kind, it has achieved a level of renown so great as to be known even to laymen, despite shrouding details of its work-and its client list--in secrecy. In its practice areas, it addresses strategic, organizational, operational and technological issues, always with a focus-according to the firm- of doing what is right for the client's business, not what is best for McKinsey's bottom line. As for the range of those specialties, the list of industrial sectors the firm serves encompasses everything from commodities and natural resources to the worlds of media, entertainment and high tech. While it doesn't give up the names of its clients (even in case studies it refers to them with preudonyms such as "BigBank) the firm does claim to serve more than 70 percent of Fortune's Most Admired Companies list, roughly 90 percent of the top-100 corporations worldwide and 80 percent of the 100 largest U.S.-based companies. While it's hard to know exact details of its pricing client base, success rate. and profitability, it's clear that the company continues to earn the trust and loyalty of many of the world's companies, governments, and global institutions. Questions (25 marks each) 1. How does a management consultant firm like McKinsey illustrate the link between businesses, governments, and global institutions? 2. Why would a global business in the private sector want to hire McKinsey if McKinsey had already done consulting work for a competitor? 3. Discuss how McKinsey can assist a firm client to run an in-depth PESTEL analysis in order to spot a new region for expansion. 4. If you were a McKinsey business analyst what would be the appropriate tools and models to analyze the attractiveness of a country regarding new FDIS. Brief: The paper should be no more than 2500 words, 12 Font/New Times Roman or Calibri, one and a half line spacing. In case of a mitigating/resit examination, there will be a different choice of case topic/example
