How McKinsey Became One Of The Most Powerful Companies In The World

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  • Published on Jun 5, 2019
  • When the most powerful executives in the world have a problem they just can't crack, many of them turn to McKinsey - a prestigious and secretive consulting firm that has been influencing business and government decisions for decades. But now, as consumers require more transparency, the company has been thrust into the spotlight.

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    How McKinsey Became One Of The Most Powerful Companies In The World

Comments • 891

  • Daniel Kunigan
    Daniel Kunigan 2 years ago +903

    These mini-documentaries are amazing. They're all so high quality and in-depth like you'd expect from a professional news network, but easily digestible like you'd expect from a TheXvid video. You guys have a good formula at this point, keep up the good work!

  • Eric Wedin
    Eric Wedin 2 years ago +717

    Worked with their consultants and I was most impressed by their invoicing capability. World class there... their report was read by nobody really and we ended up teaching their junior consultants our business while being invoiced...

  • ghaith ghazi

    As someone working in a company that usually needs consultants. McKinzey is in a whole another level. We (a billion dollar revenue company) only wish they show interest in our projects.

  • Theanchhay Bun
    Theanchhay Bun 2 years ago +2

    Of course, they’re going to be secretive. How else can u advice two opposing companies of the same industry and maximize profits?

  • wackytheshaggy

    I’ve worked with consultants and have done assessment centers with McK and others.

  • Crimes of the Century
    Crimes of the Century 2 years ago +94

    My old company ended up with an ex-Mckinsey as the CEO. Long story short, I left to work at a much more stable and successful company and am very glad I did. Essentially, they are about disruption that does not result in improvement it results in the need to keep improving the mess they've made and bringing in more consultants.I cringe when I hear their name.

  • Dominic J
    Dominic J  +13

    As an engineering graduate working in a similar consulting firm, I can guarantee that all we are doing is selling over-glorified ppts to clients and hoping that they buy whatever is presented. Essentially exploit the ill-knowledge of some clients to make profit.

  • ddmx488
    ddmx488 Year ago +23

    I’ve had the pleasure of working with McKinsey in the fortune 50 chemicals industry. I’m convinced it’s one of the biggest con artist companies on the planet. McKinsey is a master in telling you to do something your company is already doing in a slightly different way and charging you millions for their “expertise”.

  • Andrew H
    Andrew H 2 years ago +298

    Of course they will be secretive. They have their own investment firm, and are advising over 90 of the largest 100 companies, on what to do next financially. They have advanced market knowledge and they advise competing companies. The potential amount of conflict of interest and insider knowledge in astounding.

  • Scott
    Scott 2 years ago +4

    When companies get that big and comprehensive there are bound to be conflicts of interest. In the US we have gone on a surge of nearly 40 years of deregulation that has created enormous conflicts of interest that are either ignored, swept under the rug or celebrated.

  • Daniel Iles
    Daniel Iles 2 years ago +3

    As a small business consultant I can see the appeal of these companies but I think the size and overhead of these companies will fall to small consultants such as what happened with accounting firms.

  • Geoffrey Hamilton
    Geoffrey Hamilton 2 years ago +8

    I have first hand experience with the feedback loop generating conflict of interests within our biggest corporations. McKinsey is truly terrifying on this front. Employee empowerment always outperforms these SWAT teams of outside consultant firms. Delivering process improvement is something that should be coached, not held as a trade secret.

  • Edward Lam
    Edward Lam Year ago +22

    in Canada, the goal of a lot of top business school students is to eventually end up in mgmt consulting, and more specifically 1 of the MBB (McKinsey, Boston Consulting Group, or Bain)

  • Mys Led
    Mys Led 2 years ago +35

    This was created with really sincere and good intentions but once some evil and greedy individuals realized the potential powerhouse that this could become was it's downfall.

  • lafkdjay
    lafkdjay 2 years ago +466

    McKinsey is basically TaskRabbit for CEOs.

  • Ravi Teja Gangineni
    Ravi Teja Gangineni 2 years ago +96

    In 1990s they advised the Chief Minister of Andhra Pradesh which led to severe tax cuts and roll back of welfare measures. This affected farmers of the state very badly and led to a number of farmer suicides.

  • james caley

    Employees spend hours preparing data and MckInsey put it into a powerpoint slide set. "Efficiency" means removing quality control measures while consultants learn by going from one client to the next.

  • Larry Gerry
    Larry Gerry 2 years ago +17

    I worked in company that dealt with McKinsey. It led to 2 terrible decisions that ultimately led to the company's bankruptcy. Moreover, everyone I know that has dealt with them in a professional basis is that they always advise to lay off 30% of staff. The company I worked with were paying them 100s of thousands a week. Not a great return

  • Skip
    Skip   +1

    We used McKinsey for a culture review in our company. It’s nice to use them once when you’re beginning to grow as a company (you’d learn how they do their studies, which can help you do your own studies in the future) but after that don’t use them again as you should be able to conduct your own internal studies.

  • Christopher Albert
    Christopher Albert 2 years ago +899

    CEO: I think 2+2 might = 4, what do you think?