StrategyU

OCTOBER 29, 2024

Analytical Thinking Analytical thinking is the ability to break down complex issues into manageable components and identify patterns in data. Analytical mindsets allow problem solvers to navigate through complexity and arrive at data-driven solutions as efficiently as possible. Do you have a toolkit for business problem solving?

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StrategyU

SEPTEMBER 11, 2023

McKinsey was one of the first firms to invest heavily in “knowledge management” in the early 2000s. Before going under the fancier sounding “knowledge,” most consulting firms had libraries with physical books and resources that were managed by professionals with a background in library science. It was really good.

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StrategyU

SEPTEMBER 20, 2024

Framework #4: The BCG Growth/Share Matrix Helps You Balance Your Product Portfolio If you’ve ever felt overwhelmed trying to manage multiple products or consider multiple business units, the BCG Matrix will help you. Developed by the Boston Consulting Group, this framework helps you visualize and balance your product portfolio.

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StrategyU

MARCH 31, 2022

It was developed in the 1960s by Boston Consulting Group (BCG), one of the biggest consulting companies in the world at the time. The Experience Curve relies on the underlying assumption that the more experience a business has in producing a particular product or rendering a service, the lower its cost.

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StrategyU

APRIL 19, 2022

As the scale and ambition of these firms increased, they needed more people to do the work and needed to develop internal pipelines of future partners. The shift from the post-graduate position which focuses on data analysis and execution to the project manager position is the hardest in consulting.

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Career Path Consulting Career Management 52

StrategyU

MARCH 10, 2024

Often hysterically funny and uncomfortably close to the truth (the consultants’ whiteboard in Office Space with the title “Planning to Plan” is a personal favorite), Hollywood’s depiction of strategy consulting relies on an out-of-date perception of management consulting that looks nothing like the reality of the present.

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StrategyU

OCTOBER 2, 2023

The tendency to feel like you need to “prove” to managers or senior leaders that you spend a lot of time working on something. Do you have a toolkit for business problem solving? In consulting, I was taught to start with the answer. It feels weird because of a tendency I call book-report thinking. So remember.

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Consulting Business Problem Solving Problem Solving Communication 40

StrategyU

AUGUST 22, 2023

This might help you prepare for a negative reaction from a manager by more easily letting you practice going through the experience beforehand. Do you have a toolkit for business problem solving? There are so many more potential uses but if you’re not at least playing around with it, I think you are missing out.

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Consulting Business Problem Solving Strategy Problem Solving 52

StrategyU

OCTOBER 6, 2024

Specifically, they all: #1 Have a top-management mindset #2 Obsess over process and meta-process #3 Embrace clear “standards of performance” Principle #1: Top Management Mindset – Have employees that can think “from the top “ Many people operating inside companies are laser-focused on the everyday tasks of their jobs.

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Consulting Performance Strategy Business Problem Solving 52

StrategyU

AUGUST 19, 2024

And on two levels: Problem-solving process: how you solve problems Meta-process: how you talk about how you do #1 The best consulting firms are obsessed with both of these things. In many companies, the time spent on developing problem-solving skills and fundamentals is surprisingly small.

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Consulting Problem Solving Business Problem Solving IT 59

StrategyU

NOVEMBER 15, 2023

This is why consulting can feel more like therapy than business problem-solving. This is the value of a consultant, the ability to continue to search for the problem behind the problem. Managing scope creep is an art and how much “creep” a consultant allows is really a matter of judgment.

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Consulting Business Problem Solving Problem Solving Professional Services 52

StrategyU

SEPTEMBER 28, 2022

One of the most important parts of organizing information is developing a clear summary or insight that describes the group. Some examples she offers: The company should have three objectives There are two problems in the organization We recommend five changes. To make this more concrete, imagine you are making a pitch to your manager.

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Consulting Problem Solving Business Problem Solving Communication 52

StrategyU

JANUARY 27, 2021

Indro Nooyi was the CEO of Pepsi and now works with the Yale School of Management as well as working with the state of Connecticut on the Covid-19 rollout. The courses I enjoyed the most (at Yale) were statistics and operations management. Do you have a toolkit for business problem solving?

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Consulting Business Problem Solving Career Problem Solving 64

StrategyU

MAY 29, 2024

At the highest level, most cases are similar: The interviewer presents background on a “client’s” business problem or scenario (e.g., Do you have a toolkit for business problem solving? how many users would the neobank’s new product need to be profitable in the first year?) Most people leave consulting.

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Consulting Problem Solving Recruitment Communication 52

StrategyU

JULY 23, 2021

Managing this delicate balance is vital to ensure you lay the groundwork to building a lasting freelance business. When I first started freelancing I developed a simple page of the possible ways of working with me. In addition to this, I also developed a list of types of projects I wanted to work on.

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Consulting Strategy Networking Development 59

StrategyU

JULY 5, 2020

The history of strategy consulting starts with Frederick Taylor and the Scientific Management movement but took many twists and turns as it evolved into its current state, an industry looking inward and pondering where it fits in the new technology-powered business world. Chapter 1: Frederick Taylor: “The System Must Be First”.

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StrategyU

SEPTEMBER 16, 2022

This is great for me, as I love that kind of book and it’s helped me reflect on my experience at McKinsey and my attempts to figure out why I was able to develop such strong capabilities there. Instead, you need to develop a better process for synthesizing and structuring information.

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