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What to learn from McKinsey
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Background Strategic components of the enterprise What McKinsey wants
Resources and Capabilities Portfolio Management Value-concentrated Management Ideal-concentrated Management What McKinsey wants Deductive thinking Strong making Quantitative thinking Business judgment Curiosity and Innovative thinking
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Too much is as bad as too little
How should we approach? Deductive thinking Confocal room / LM room / EM room / Histology room… Strong making 32 RJ45 sockets / 20 Power outlets…. Quantitative thinking For each person, 2 PC x (15 faculty + 5 visiting) + 5 redundancy…. Business judgment WindowsPC with iMAC and Sun SPARC for compatibility test…. Curiosity and Innovative thinking OCR on writing / voice command…
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Revenue of the enterprise
Long-term business option (continuous research item) Pilot study (prompt start) Possibility of The business itself Never do it! Cash Cow (basic inflow) Synergy with other items in the enterprise (contribution to portfolio risk)
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Blue Ocean Strategy! Shaper Specialist e.g. Coca Cola, Microsoft
e.g. Porsche, Nike Pathway of IBM Value of the enterprise Geographic incumbents e.g K-mart Geographic integrators e.g. AMACO Size of the enterprise
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7 steps to problem solving
Define the problem Break the problem into issues Eliminate all non-key issues Gather data and conduct critical analysis Pull together findings and build argument Tell the story Periodically revise and re-evaluate
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Problem solving approach
Impact-driven Focused Fact-based > Logical problem solving > IMPACT
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Characteristics of good problem statement
A thought-provoking question, not a fact Keep SMART specific, not general measurable actionable relevant, keep on focusing time-bound focused on what the decision makers need to move forward debatable (not a statement of fact or non-disputable assertion)
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Characteristics of good problem statement
Always keep ‘SMART’ specific, not general All OS should be upgraded to Windows Vista measurable Measure all the cell size and calculate the variance actionable Clean bench on the 2nd floor relevant, keep on focusing Filtered water in each room time-bound Figure database for image archiving
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Logic tree What is a logic tree ? Why use logic tree?
A problem-solving tool that breaks a problem into discrete chunks that are “MECE” (mutually exclusive, collectively exhaustive) Why use logic tree? To break a problem into component parts so that: Work can be divided into manageable pieces Priorities can be set Responsibilities can be allocated To ensure integrity of the problem solving is maintained: Solving the parts will really solve the problem The parts do not overlap and there are no gaps (MECE) To build a common understanding within the team of the problem-sloving framework To help focus use of frameworks and theories
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Cut off branches Keep focusing in
Prioritize your effort on what is most important Helps to ask “so what”… but also to ask what you’ve forgotten Is the key to working efficiently Problem eliminating issues is often difficult because everyone has a favorite analysis ‘critical’ to the effort Solution each proponent should ‘dummy’ their analysis prioritize analysis involve the whole team in the process 시행하기 쉬운 정도 영향력
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Collect data and do analysis
Always do deep analysis on selected samples Documentation Clarify duty and director Continuous conversation for sharing vision
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Build the story Prioritization matrix
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What McKinsey looks for
Solving problems thinking logically, conceptually demonstrate curiosity, creativity, business judgement, tolerance for ambiguity, feel for numbers Driving for excellence Set high aspirations and performance standards overcome challenges with perseverance are willing to take risks Impacting others Proactively build relationship influence others’ thoughts and decisions take leadership collaborate with others to achieve goals Personal value Have positive, “can do” attitude, maturity, and integrity to function as a reliable and trustworthy professional
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