Read The Mckinsey Way : Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business by Ethan M. Rasiel Free Online


Ebook The Mckinsey Way : Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business by Ethan M. Rasiel read! Book Title: The Mckinsey Way : Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business
The author of the book: Ethan M. Rasiel
Language: English
ISBN: 0070534071
ISBN 13: 9780070534070
Format files: PDF, Epub, DOCx, TXT
The size of the: 33.96 MB
Edition: Mc Graw Hill
Date of issue: April 16th 2003
Reader ratings: 6.1
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Read full description of the books The Mckinsey Way : Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business:



A very good book. Though, the best way to characterise it would be to requote from it:

I think anything I say would be too cynical.
—Former associate in the London office

Here goes a bit of tongue-in-the-cheek vocab for it:

1. “What’s the so-what?”

Translation: How is this analysis useful?

Real meaning: You’re one up on me because you’ve done a ton of complex analysis and I haven’t. Allow me to reassert my authority by challenging you to explain the purpose, and implying that while you are living inside a spreadsheet, I’m actually living in the real world.

Example: “OK, so you’ve found that the client sells more beer in Australia than in New Zealand. But what’s the so-what?”

2. “MECE”
Translation: Mutually Exclusive and Completely Exhaustive.

Real meaning: Tell me you haven’t missed something big in your analysis that is going to bite us in the heiny.

Example: “Have you checked your analysis for MECE-ness?”

3. “Quick wins”

Translation: Easy cost savings we can show the client as soon as possible to justify our fees.

Real meaning: Lay-offs.

Example: “The entire Cleveland operation is a quick win.”

4. “Low-hanging fruit.”

Translation: Really quick wins.

Real meaning: Completely useless client operations and staff that even a child could lay off.

Example: “Boy, that guy Bob in accounts is low-hanging fruit.”

5. “Directionally correct.”

Translation: The analysis is correct in its broad conclusions.

Real meaning: The analysis is incorrect in some of its numbers.

Example: “Let’s not get hung up too much on the details. The analysis is directionally correct.”

6. “The right road, but the wrong direction.”

Translation: The analysis is asking the right questions.

Real meaning: The analysis is wrong, and one of the consultants is going to be fired.

Example: “We found the right road, but we took the wrong direction.”

7. “At least we now have a better idea of the questions.”

Translation: The next stage of analysis is going to add value.

Real meaning: The analysis just finished is so completely wrong that we can’t even claim it is directionally correct, or even that we found the right road.

Example: “OK, so’re going to have to go back and do this again. But at least now we have a better idea of the questions.”

8. “We’ve left that open.”

Translation: We haven’t answered that question yet.
Real meaning: We don’t know. In fact until you asked we hadn’t even thought about it.

Example: “How will this impact the new product launch? We’ve left that open.”

9. “Boiling the ocean.”

Translation: Doing a lot of analysis.

Real meaning: We’re so busy in meetings we really want to economize on the amount of actual analysis have to do.

Example: “You don’t need to look at the cost structure of each of the operations. Don’t boil the ocean.”

10. “Delta”

Translation: Change.

Real meaning: The consultant is so insecure he is afraid of using a simple word like “change.”

Example: “It’s going to be hotter tomorrow than today? What’s the delta?”

11. “On the beach.”

Translation: Between projects. (Has nothing to do with any actual beach)

Real meaning: No other consultant wants me on their project.

Example: “I’ve just spent a couple of weeks on the beach.”

12. “Peeling the onion.”

Translation: Doing deeper and deeper analysis.

Real meaning: We’re still trying to understand the client.

Example: “We’ll get a better idea of that once we peel the onion a bit more.”

13. “Granularity.”

Translation: Details.

Real meaning: The consultant is so insecure he is afraid of the simple word “details.”

Example: “Let’s see if we can get a little more granularity on that.”

14. “Version 2.0.”

Translation: A new version.

Real meaning: The first version didn’t work.

Example: “We want version 2.0 of this.”

15. “IPM.”

Translation: In Production Mode.

Real meaning: It’s not finished yet.

Example: “That latest analysis? Don’t worry, it’s IPM.”

16. On the runway

Translation: Still taking off

Real meaning: Hasn’t gone anywhere; still domestic.

Example: “We haven’t really tested or launched yet but we’re on the runway”

17. “A robust conversation”

Translation: we need to shop this idea around more.

Real meaning: everyone we’ve spoken to so far hates it.

Example: “We need to initiate a robust conversation with our stakeholders and gatekeepers that’s structured to fine tune our approach.”

(c) Disclaimer: this hilariousity not mine, found on the web, immencely liked... ;)

And some more scary cons stuff (Russian version only)

/Accenture/ Работа в консалтинге. Дневник стажера-консалтера. (Disclaimer: all from Google)

День 1.
- Слово business видимо произошло от busyness.
- Почти правила стройки. Кто не курит, тот работает. Попробую заменить на кофе.

День 2.
- Консультант это человек с воображением ребенка и IQ не ниже, чем у Эйзенхауэра.

День 3.
- Пришел в офис первый, хотя опоздал минут на 30.
- Задание, которое я делал часа полтора, аналитик сделал за минут 15. Кажется, с помощью Excel он может захватить весь мир.
- Девятичасовой день меня напрочь убивает, плюс - хоть ночью крепко спится. И это далеко не предел, надо привыкать.

День 4.
- Опаздывать, но приходить первым входит в привычку.
- Всё ещё не привык к графику, свои девять часов нужно реально отработать, а думать приходится на каждом шаге. Мозги закипают.
- Ещё никогда так не ждал выходных, а всего четыре дня прошло.

День 5.
- Понял, что обожаю пятницы. Это праздник с 18 часов. Полезные тренинги в офисе под горячий шоколад проходят на ура!

День 6.
- Впервые консультант обратился ко мне за помощью в каком-то вопросе. (Примеч.: кажется, от безысходности).
- Сегодня учили общаться с коллегами из смежного проекта. Почувствовал себя коллектором долгов, пока смотрел, как требования собирают с них.

День 7.
- Оказалось, что консультанты очень любят конфетки. Принес пачку барбарисок - радовались, как дети.

День 8.
- Впервые был час свободного времени вне обеда, когда можно было не работать головой. Почитал проектный материал.
- Команду все еще удивляет, когда я ухожу в половину восьмого вечера, но потом они вспоминают про мою стажировку.

День 9.
- Сделал свой первый легкий овертайм до десяти вечера. После 19:00 открывается второе дыхание, хотя я бы назвал это смирением.
- Начал использовать оптимальные решения. Они здорово экономят время.
- Есть коллеги, которые работают так каждый день. В ночные смены можно разгружать вагоны, а можно загружать базы данных, каждому своё.
- Теперь мне снятся таблицы и схемы, а во сне я генерю и бормочу рандомные названия для них. В работе даже ночью.

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Ebook The Mckinsey Way : Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business read Online! Ethan M. Rasiel was a consultant in McKinsey & Co. s New York office. His clients included major companies in finance, telecommunications, computing, and consumer goods sectors. Prior to joining McKinsey, Rasiel, who earned an MBA from the Wharton School at the University of Pennsylvania, was an equity fund manager at Mercury Asset Management in London, as well as an investment banker.


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