McKinsey & Company

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McKinsey & Company

logo
legal form Corporation
founding 1926
Seat New York City , New York United StatesUnited StatesUnited States 
management Kevin Sneader
(Global Managing Partner)
Number of employees approx. 30,000 (2019)
sales 10.0 billion US dollars (2017)
Branch Business consulting
Website mckinsey.com

McKinsey & Company is a management and strategy consultancy that is represented in 65 countries and employed around 28,000 people worldwide in 2018.

Group profile

In Germany , McKinsey's headquarters are in Düsseldorf , and there are also offices in Hamburg , Berlin , Cologne , Frankfurt am Main , Stuttgart , Munich and Münster . In Austria there are branches in Vienna and Kitzbühel ( Alpine University ), in Switzerland in Zurich and Geneva . In addition, the office in Zagreb was previously assigned to the German-speaking office.

Global sales in 2015 were around $ 8.4 billion. The turnover of the offices in Germany in 2014 was around USD 860 million. In 2015, McKinsey generated the largest turnover in Germany with clients from the manufacturing industry (around 31% share of sales), followed by the chemical and energy sectors (around 19% share of sales) and banks and insurance companies (around 17% share of sales). The return on sales of the German McKinsey offices was estimated at around 30% and thus significantly below that of the North American offices (around 44% return on sales estimated).

The head of the German office is Cornelius Baur . His predecessor was Frank Mattern until the end of 2013 .

Kevin Sneader has headed the company as Global Managing Partner since July 1, 2018, replacing Dominic Barton after 9 years.

Since 1964, the company has also published its own English-language business management magazine, McKinsey Quarterly .

The enterprise

history

The consulting company was founded by James Oscar McKinsey in Chicago in 1926 .

In contrast to Taylorism , which was dominant at the time, McKinsey did not concentrate on the optimization of work processes in industrial production, as provided by Scientific Management , but on the middle and higher management levels of the bureaucracy, which was growing in size at the time. According to Rakesh Khurana , he anchored managerial authority in the field of "neutral experts" with rhetoric influenced by engineering, which at the same time strengthened the dominance of management in the violent labor disputes of that time.

The German office was founded in Düsseldorf in 1964 . It was initially headed by the American John G. McDonald . With Herbert Henzler in the role of "Office Manager", McKinsey grew strongly in Germany from 1985 onwards.

structure

After James McKinsey's death, Marvin Bower established the company in its current form and in its core principles. The company is fully owned by its more than 1,100 active "partners" (as of August 2007). Every three years, the senior partners elect a Managing Director (MD) from among their number, who represents the company internationally. A MD can have a maximum of three terms of office. Dominic Barton from Canada held this position from July 2009 to 2018 .

McKinsey is divided globally (like many consulting firms ) into various industrial departments, functional departments and special initiatives such as a “virtual competence center” for information technology (called “Business Technology Office”, BTO). McKinsey's world headquarters are in New York with the local / national offices as equal partners and managed by a director. Together with the other partners in his office, he defines the general strategy and priorities in his region. McKinsey is registered as a company under US law.

Clients

McKinsey says it advises over two thirds of the 1,000 largest American companies and the majority of German companies represented in the DAX . However, clients also include private and public institutions and government agencies.

McKinsey is also more or less directly active in the area of policy advice , B. in the Herzog Commission convened by the CDU in 2003 to develop the party's future social concept.

Employee

McKinsey's consultants are recruited from university graduates from all subjects, particularly economics, engineering and natural sciences.

McKinsey has an annual employee turnover of 10 to 20 percent, on average an employee stays for three to four years, as McKinsey uses Up or Out , according to which an employee has to leave the company if he does not move to the next hierarchy level within a specified period of time reached.

McKinsey consultants can devote around 5 percent of their working time to pro bono activities. Examples of this are the online survey Perspektive Deutschland , a start-up initiative and the startsocial business plan competition for social initiatives .

Alumni network

According to Manager Magazin , McKinsey maintains a worldwide network of former employees of the company, which in 2012 will be headed by the Boston-based "Global Director of Alumni Relations" Sean Brown. Numerous ministers and company heads are also part of the alumni network :

Initiatives (German Office)

McKinsey Capability Center

The McKinsey Capability Center is a facility for employees to learn how to improve business processes. The training courses are held, for example, in a downstream bank branch or a call center.

It was opened by McKinsey & Company in 2011 and is headed by Claus Benkert. In the meantime, further branches have been opened.

The facility is located in Hallbergmoos in the Freising district near Munich ( coordinates ) and is the winner of the German location initiative - Land of Ideas .

criticism

McKinsey is often seen as the prototype of shareholder value oriented management consultancies. In order to increase the market value of a company, extensive restructuring is often carried out, with layoffs being the rule. This point of criticism is based primarily on the application of the concept of overhead cost analysis in the 1990s.

Another point of criticism is that the management consultancy would not understand the situation of the institution to be advised, but would use its stereotypical consulting pattern. For example, in 2006 the works council of the Berlin hospital company Vivantes McKinsey accused of making absurd suggestions. The abolition of the porter, the thinning of the rescue center and the reduction of cleaning have been proposed.

The dramatist Rolf Hochhuth criticized McKinsey in a drastic form in 2004. He wrote the play " McKinsey Comes ", in which he tries to hold up the mirror to the economy and accuses it of inhuman treatment of employees. One figure in the play, for example, plays with the idea of killing a company boss based on the example of Wilhelm Tell , but also the RAF .

During the affair surrounding the death of Jamal Khashoggi , a report by the New York Times received international attention in October 2018 , according to which McKinsey & Company had used social network analysis to help the regime in Saudi Arabia identify and persecute opposition members. This form of business consulting led to the arrest of the writer and journalist Khaled al-Alkami , among other things .

In light of the opioid epidemic in the United States , McKinsey has been charged with helping drug company Purdue Pharma get doctors to get more prescriptions for the drug Oxycontin. Oxycontin is an analgesic based on the opioid oxycodone and has been linked, among other things, to the sharp rise in drug deaths in the United States from the 2000s onwards. McKinsey's advisory services are also said to have related to finding ways of communicating with the relatives of drug victims. In 2019 McKinsey said it ended its official collaboration with Purdue.

literature

  • Duff McDonald: The Firm: The Story of McKinsey and Its Secret Influence on American Business. Simon & Schuster, New York 2013, ISBN 978-1-4391-9097-5 .
  • Julia Friedrichs : Allow me: Elite. In the footsteps of the mighty of tomorrow Hoffmann & Campe, Hamburg 2008, ISBN 978-3-455-50051-6 .
  • Thomas Leif : Advice & Sells. McKinsey & Co. - the big bluff of management consultants. Bertelsmann, Munich 2006, ISBN 978-3-570-00925-3 .
  • Michael Amann, Dietram Schneider: McKinsey and other consulting companies in SRD benchmarking , report from the empirical research project "Management consultancies in benchmarking with Success Resource Deployment" at the competence center for corporate development and consulting (KUBE eV), Kempten 2005.
  • Dirk Kurbjuweit : Our efficient life. The dictatorship of the economy and its consequences. Rowohlt, Reinbek near Hamburg 2005, ISBN 978-3-499-62019-5 .
  • Werner Rügemer (Ed.): The consultants: Your work in state and society. Transcript, Bielefeld 2004, ISBN 978-3-89942-259-7 .
  • Ethan M. Rasiel, Paul N. Friga: The McKinsey Mind. Understanding and Implementing the Problem-solving Tools and Management Techniques of the World's Top Strategic Consulting Firm. Mcgraw-Hill, New York 2001, ISBN 978-0-07-137429-3 .
  • Ethan M. Rasiel: The McKinsey Way. Using the Techniques of the World's Top Strategic Consultants to Help You and Your Business. McGraw-Hill, New York 1999, ISBN 978-0-07-053448-3 .

Web links

Individual evidence

  1. ↑ Kevin Sneader , Company Website, accessed December 11, 2018
  2. ↑ a b [1] , Company Website, accessed October 9, 2019
  3. ^ A b McKinsey & Company. In: forbes.com. Retrieved December 11, 2018 .
  4. ^ McKinsey - Our People. McKinsey + Company, accessed April 29, 2020 .
  5. ↑ a b McKinsey in figures: an overview of business figures from management consulting. In: consultingmarket.de. Retrieved June 15, 2017 .
  6. ↑ Cornelius Baur becomes head of McKinsey in Germany. In: manager-magazin.de , November 14, 2013
  7. ↑ Meet our next global managing partner: Kevin Sneader. In: mckinsey.com. Retrieved July 4, 2018 .
  8. ^ Duff McDonald: The Firm: The Story of McKinsey and Its Secret Influence on American Business. P. 27.
  9. ^ Michael Freitag / Dietmar Student: Swarm intelligence . In: Manager Magazin , edition 4/2012, p. 28 ff.
  10. ↑ Online scholarship and career network e-fellows.net. Retrieved August 27, 2016.
  11. ↑ McKinsey Capability Center opened. In: presseportal.de. June 3, 2011, accessed July 7, 2014 .
  12. ↑ Gather job experience under real working conditions. (No longer available online.) In: land-der-ideen.de. Archived from the original on July 14, 2014 ; Retrieved July 7, 2014 .
  13. ^ Guido Walter: Management Consulting . McKinsey: Between Myth and Legend. In: karriere.de , accessed on July 15, 2014
  14. ↑ Dream job consultant - appearance and everyday life in a successful industry. Monitor , November 7, 2006, archived from the original on October 14, 2008 ; Retrieved April 27, 2016 .
  15. ↑ Katie Benner, Mark Mazzetti, Ben Hubbard, Mike Isaac: Saudis' Image Makers: A Troll Army and a Twitter Insider. New York Times, October 20, 2018.
    McKinsey allegedly helped the royal family fight critics. Spiegel Online, October 21, 2018.
  16. ↑ McKinsey rolls backwards. FAZ, June 3, 2019, accessed on June 3, 2019 .
  17. ↑ McKinsey no longer advises Purdue. FAZ, May 24, 2019, accessed on June 3, 2019 .