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Summary of the content of "McKinsey Method" (1)

The author, Eisen Russell, is a former consultant at McKinsey & Company, whose clients include many well-known companies in the fields of finance, telecommunications, computers, and consumer products.

Before joining McKinsey, this B-level MBA from the Wharton School of Business at Fania University was an equity fund manager at Mercury Asset Management in London and an investment banker.

McKinsey was founded in 1923 and is now the most successful strategy consulting firm in the world. It has 75 offices and 4,500 professionals around the world. It may not be the largest consulting firm in the world, but it is the most prestigious.

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McKinsey advises Fortune 100 companies, U.S. state and federal governments, and foreign governments, and is a well-known name in international business circles.

This book is divided into five parts. The first three parts focus on how McKinsey thinks and solves business problems.

Parts 1 to 3 can be said to be the essence of this book. You can learn more about career theory from them. Part 4 introduces in detail how McKinsey people cope with the pressure in life. Part 5 briefly describes the work in the company.

Experiences and lessons learned, and share with readers some unforgettable memories of selling analytics.

Part 1 The McKinsey way of thinking.

Chapter 1 Building a Solution.

The solution to the problem should be: a fact-based, systematic bold hypothesis, carefully verified.

Make friends with facts.

Reasons: First, facts make up for the shortcomings of intuition.

The second fact increases credibility.

Comfortable application of M Ece principles.

MECE means mutually independent and completely exhaustive, and it is an essential principle of McKinsey’s problem-solving process.

The point of view formed using the M1ce principle is the clearest and most complete.

The application of the M 1C1 principle starts from the first level of the solution, decompose the problem (split the large and complex problem into small and easy-to-solve sub-problems), and list the process of the problem.

A good McCarthy question list and number of first-level headings will be no less than two, nor more than five. It is better to have three first-level headings.

Go straight to the solution to the problem, the initial hypothesis.

The initial hypothesis is the third pillar of McKinsey’s problem-solving process and the most difficult to explain.

Define initial hypotheses.

Generate initial hypotheses.

Test initial hypotheses.