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Example 8: Project Management Phases Original Breakdown: Initiation Planning Execution Closure Why it is MECE: These four phases represent a widely recognized lifecycle in project management. You can check out the social media examples and others Do you have a toolkit for businessproblemsolving?
Consultants are brought in to diagnose problems, identify opportunities, and recommend actionable solutions. These are presented in well-structured slide decks that outline the situation, findings, and proposed solutions. Issue Trees: Issue trees are visual tools that break down a complex problem into smaller, manageable parts.
They pointed out two things about the problems with experience curves. Cost reductions due to learning and technology are the result of continuous, planned efforts by management. Cumulative experience does not guarantee that costs will decline but simply presentsmanagement with an opportunity to exploit.
From traditional powerhouses such as McKinsey, Bain, and Boston Consulting Group (collectively known as MBB) to other generalist and specialized firms, the industry presents a diverse landscape for aspiring consultants and seasoned professionals alike. Now, however, some firms are grappling with overcapacity.
Instead of answering standard multiple-choice questions or writing essays, you’re immersed in a series of interactive mini-games designed to evaluate your problem-solving skills, logical reasoning, and decision-making abilities. Typically, each candidate will be presented to two games.
The Problems With Most Feedback There are many issues with traditional feedback. My person Pet peeves : Managers often focus on minor annoyances rather than major issues. Too many times, I have seen managers default to focusing on their own neurotic pet peeves. Do you have a toolkit for businessproblemsolving?
Most people don’t realize that you can find the strategy documents of most public companies by going to their investor relations page and then looking for recent presentations that they have made at conferences. In these presentations, you will find frameworks that outline a high-level vision of the company.
The same pattern can apply to a knowledge professional and a manager. Do you have a toolkit for businessproblemsolving? This course teaches you how to synthesize information into compelling insights, structure your information in ways that help you solveproblems, and develop presentations that resonate at the C-Level.
But even if I hadn’t gone on to work in consulting, I now know that MECE is a valuable tool for anyone who wants to think more clearly and solveproblems more effectively. MECE (Mutually Exclusive, Collectively Exhaustive) is a powerful problem-solving framework that is used in management consulting and various business functions.
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.
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.
use MECE not just for problem-solving, but also for structuring your communication. MECE presentations are always more clear and more persuasive. It’s not just about your direct competitors, but about the entire ecosystem your business operates in. Do you have a toolkit for businessproblemsolving?
I will cover each of the four sections of her book: Logic In Writing Logic In Thinking (coming soon) Logic in Problem-Solving (coming soon) Logic In Presentation (coming soon). Minto’s first job in the business world was working for Cyrus Eaton, who founded the Pugwash Conferences of nuclear scientists.
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 businessproblemsolving?
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.
The tendency to feel like you need to “prove” to managers or senior leaders that you spend a lot of time working on something. When I give feedback to people on writing and presentations, I often just ask them, “What are you really trying to say?” Do you have a toolkit for businessproblemsolving?
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 businessproblemsolving? There are so many more potential uses but if you’re not at least playing around with it, I think you are missing out.
The shift from the post-graduate position which focuses on data analysis and execution to the project manager position is the hardest in consulting. The Project Management and Pre-Partner Roles. Bain has two roles at the project manager level – Manager and Senior Manager.
At the highest level, most cases are similar: The interviewer presents background on a “client’s” businessproblem or scenario (e.g., I remember thinking, “ Oh wow, it is quite useful to think about the most important point BEFORE presenting something. Do you have a toolkit for businessproblemsolving?
This is why consulting can feel more like therapy than businessproblem-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.
At GE, where I worked previously, no one talked about anything beyond how to format spreadsheets to avoid triggering the managers and higher-ups. While at McKinsey, we were trying to solve something we had never solved before! Do you have a toolkit for businessproblemsolving?
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”.
If you’d like to go to the previous section you can find the following links to each: Logic In Writing Logic In Thinking Logic in Problem-Solving Logic In Presentation. Some examples she offers: The company should have three objectives There are two problems in the organization We recommend five changes.
Managing this delicate balance is vital to ensure you lay the groundwork to building a lasting freelance business. They get access to the course but also one-on-one coaching for their presentations. Do you have a toolkit for businessproblemsolving? However, if you’re hedging, others will know it too.
Analytical Thinking Analytical thinking is the ability to break down complex issues into manageable components and identify patterns in data. Do you have a toolkit for businessproblemsolving? Because they know that by remaining open to new ideas and possibilities, better answers usually emerge.
But outside of these firms, there’s a huge spectrum of smaller consultancies doing similar strategy work with directors, VPs, and middle management, often building successful businesses with long-term clients. They also help with CEO transitions, governance structure, and crisis management.
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