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McKinsey on China's Olympic-Strength CEOs
With the Olympics about to launch, there's likely to be great attention, if not over-saturation, on Chinese matters. The McKinsey Quarterly, however, provides some interesting insights into doing business in China in its most recent issue. I'll be dropping in tidbits from time to time. Here's my...
Three Obstacles to Citizen Innovation
One of the most interesting emerging ideas in business today is tapping into user communities for innovative ideas. Open source software offers a prime example of this sort of citizen innovation (a phrase I may be stealing from someone, but if so, it's inadvertent). Software isn't the only...
McKinsey's Four Biases of Failure
Saying goodbye can be a hard thing to do. But it is a necessary part of the creative process and is good management, according to a new McKinsey Quarterly study. Too often, executives stick to what was once thought a bold and brilliant idea. But when the...
Use "Prediction Markets" and Tap Internal Expertise
Ever realize just how much savvy information is available in your organization? Ever wonder just how far you could take your company as CEO if you could only tap it? The latest McKinsey Quarterly requires subscription has a useful primer and group discussion on a practice known...
The Three Ways to a Low-Carbon Business
Much of the press around President George W. Bush's most recent address on climate change has been dismissive though there were also interesting approaches like the Annotated climate speech on the New York Times Web site. McKinsey, however, used it as a call to action for business. It...
Disruptive Technology Will Drive $7.5 Trillion In Economic Change
Yesterday I wrote about the three most important tech trends in business, as called by McKinsey's Technology Initiative. Today, I'm going to look at the follow-up article, which assesses what those trends might be worth. Unfortunately, the piece, "Disruptive technology trends: capturing the value at stake," is...
What the Technology Future Holds: The View From McKinsey
Three partners from McKinsey based in San Francisco and Silicon Valley have written a very provocative article on future technology trends. It's well worth a look. They examine eight trends, but the one that rings home with me is called "distributing cocreation." Basically, they are predicting that...
Katzenbach Partners Profile, Pt. 1: How Employee Empowerment Vaulted Them to the Top Tier
Management consulting is an industry built on trust and a solid reputation. A perusal of the most prestigious firms as ranked by employment researcher Vault yields the fact that nearly all of the top twenty-five have been around a while and assembled large staffs of consultants. So how does a...
Divide And Conquer: Rethinking IT Strategy
Although companies manage established businesses and new ventures differently, they typically manage information technology just one way: with a broad stroke, to cut costs in rough times and to fund projects in good ones. Companies should manage most IT for productivity and cost savings, but technologies that support businesses should...
Increasing Global Competition and Labor Productivity: Lessons From the US Automotive Industry
Studies of productivity by McKinsey Global Institute MGI and others have shown that when new, more productive players enter a sector previously sheltered from global competition, the sector's overall level of productivity rises. Less clear, however, is what happens at a company level to link cause and effect. Taking U.S....
Reducing the Risks of Early M&A Discussions
Early discussions of mergers, acquisitions, or alliances are delicate and risky. When companies assess a proposed deal before announcing it, they must balance the need to understand its potential with the need to protect sensitive information. Unbiased third-party clean teams can protect sensitive data while assessing the business rationale of...
Smoothing Postmerger Integration
After a merger or acquisition has been announced, the CFO must manage the old business while integrating the new one - often with few sources of information. Even those who understand the value of a clean team often resist appointing one, because they overestimate how much time a clean team...
Reducing Waste in the Auto Industry
North American carmakers and their parts suppliers waste about $10 billion a year as a result of poor planning and faulty coordination. The paper reveals that an evaluation of 43 product-development programs found that the level of waste was widely varied, and much of it was caused by changes in...
Getting Sourcing Right in China
Not long ago, Western and Japanese companies were interested in China primarily as a market for their goods. Now retailers and manufacturers are as eager to source their parts and products from China as to sell their own wares to its consumers. Ramping up a procurement organization requires patience, attention...
Making A Market In Knowledge
From the executive summary: ‘Just like people, companies in today's economy find that their primary source of competitive advantage increasingly lies in the unique proprietary knowledge they possess. Companies and individuals may have equal talent and access to public knowledge, but the special value that comes with unique understanding provides...
All P/Es Are Not Created Equal
A high price-to-earnings multiple is not driven by growth alone. Managers who understand how growth and returns on capital combine to shape a company's multiple can use that knowledge to drive higher growth and make better investment decisions. This article presents a method for determining how much of a company's...
Putting Value Back in Value-Based Management
When first introduced several years ago, value-based management promised to give companies a way to align their aspirations, management processes, and mind-sets with day-to-day decision making that would create shareholder value. Since then, however, many companies have had limited success with this approach. Yet they can use it more effectively....
Best Practice Doesn't Equal Best Strategy
From the executive summary: ‘Best-practice benchmarking; the measurement and implementation of the most successful operational standard or strategy available in an industry, can be one of the most effective tools for increasing a corporation's efficiency, productivity, and earnings. Experts suggest that strategic decision-making occurs along three dimensions: product characteristics, price,...
A Product Is Born: It's Time for Product Development to Enter the Information Age
The problem is the process, which in most companies has become an inflexible sequence of activities, like a production line. Because it is inflexible, it is disconnected from marketplace changes that may determine the fate of new products. The solution is to inject more customer-related information into the process and...
The Future Of Product Development
Product development is facing a fundamental challenge. Most companies are under pressure to bring new products to market more and more quickly, and companies in many sectors must work harder to ensure that they address the needs of ever-narrower customer segments. These pressures are particularly acute in fast-paced markets, such...
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