StrategyU

MARCH 31, 2022

It was developed in the 1960s by Boston Consulting Group (BCG), one of the biggest consulting companies in the world at the time. A client, General Instruments, was having trouble matching competitors’ prices in its television-components business. The Experience Curve is one of the most famous frameworks in consulting. ” Damn.

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StrategyU

NOVEMBER 29, 2021

” This is the overarching aim of most businesses and this broad, general goal provides a way for company leaders to look at this framework and have an entry point where they can find agreement. Do you have a toolkit for business problem solving? We’ve all sat through these presentations. 3 Storytelling.

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StrategyU

JULY 7, 2021

Issue trees are a useful approach to breaking down a problem statement into component parts that can more easily be acted upon. We might frame this “problem” in the form of a question, “Company profitability is declining, what are the ways to improve it?” How Issue Trees Are Linked With Problem Solving.

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StrategyU

OCTOBER 2, 2023

Like many clients, I don’t have a good idea of what I’m really solving for. Do you have a toolkit for business problem solving? The most important question in modern knowledge work to ask yourself is “So what?” ” The job of a great consultant is not just to repackage information. So remember.

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StrategyU

SEPTEMBER 20, 2024

The biggest problem with this is that people know about the feedback sandwich. The Problems With Most Feedback There are many issues with traditional feedback. As much as we accept that feedback and coaching are good things, most people still feel awkward when giving and receiving feedback. You just got a meal of useless information.

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Consulting Business Problem Solving Construction Problem Solving 59

StrategyU

SEPTEMBER 20, 2024

It’s not just any test; it’s a game designed to challenge your thinking, and your problem-solving abilities, right from the start—every click you make counts on how you will be perceived. What is the McKinsey Problem Solve Game? As you prepare to take on this challenge, the weight of its importance bears down on you.

Problem Solving 52

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StrategyU

SEPTEMBER 20, 2024

It underpins all great communication and problem-solving. The 7 S’s are: Strategy Structure Systems Shared Values Style Staff Skills Now I know that you might be thinking, “That’s just a list of business jargon.” MECE is every consultant’s favorite framework or principle.

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StrategyU

SEPTEMBER 11, 2023

Big firms are set up to dominate even more… I think AI tools will help firms like McKinsey, BCG, and Bain (though Bain was much later to invest in knowledge management) develop a bigger lead in management consulting. Last week, McKinsey and Company launched their generative AI tool, Lilli. It was really good.

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StrategyU

SEPTEMBER 10, 2024

A PM needs an approach to organize and prioritize the development backlog. I remember the first time I heard the term MECE. I asked a friend who worked at Bain at the time to give feedback on my resume. She suggested, of course, specific changes to ensure it was MECE. I thought, “What the heck is MECE? you are not alone.

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StrategyU

JANUARY 27, 2021

I think it just ups your level of expectation for the kind of business you want to work with. It taught me how to think of the problem in micro terms but also to zoom out and put the problem in the context of its broader environment and then zoom back in to solve the problem” Jason Wright, President Washington Football Team.

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StrategyU

AUGUST 22, 2023

Do you have a toolkit for business problem solving? To demonstrate this, I asked Bard , googles AI chat tool, the following question: “What are three ways someone might use a tool like Bard that would help them work like a strategy consultant?” But it still required work. You hired me and my team to cut 10% costs.

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Consulting Business Problem Solving Strategy Problem Solving 52

StrategyU

APRIL 19, 2022

As the scale and ambition of these firms increased, they needed more people to do the work and needed to develop internal pipelines of future partners. This meant they needed to hire younger people and train them. Most of that hiring still happens at the grad-school level. Each Role Is About Two Years (and at Bain it’s three).

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Career Path Consulting Career Management 52

StrategyU

SEPTEMBER 16, 2022

Barbara Minto’s The Pyramid Principle has been one of the most influential books for business writing. This is great for me, as I love that kind of book and it’s helped me reflect on my experience at McKinsey and my attempts to figure out why I was able to develop such strong capabilities there. Barbara Minto. I also wish it were true.

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Consulting Problem Solving Communication Business Problem Solving 52

StrategyU

OCTOBER 2, 2023

Do you have a toolkit for business problem solving? Listening to the first answer is frustrating. After you figure it out it’s a strawberry you might say something like “why the hell didn’t you just tell me it was a strawberry?!” You can’t just tell them the answer briefly. Or can you?!!

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StrategyU

NOVEMBER 15, 2023

Most clients approach consultants with a problem, or more accurately, what they think is a problem. It’s up to the consultant to find the real issue and solve it. This is why consulting can feel more like therapy than business problem-solving. “What time do you have your last cup of coffee?” “Are

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Consulting Business Problem Solving Problem Solving Professional Services 52

StrategyU

AUGUST 19, 2024

It sounds crazy, but many people end up using an approach analogous to cutting down the entire tree when faced with a problem. They focus on actions like analyzing data or building Excel models instead of thinking about how they are going to solve it. But what is problem-solving? It is asking, “What should we do next?”

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StrategyU

NOVEMBER 17, 2023

People who were excellent at executing struggled to take a step back and be a thought partner with the client, helping design a longer more strategic approach to a problem. #7 If training is something you can deprioritize, your firm will struggle with developing internal capabilities. This is great, right?!

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Consulting Pharmaceutical Business Problem Solving Strategy 40

StrategyU

JUNE 28, 2022

In 1976 the founder of Boston Consulting Group, Bruce Henderson published a strategy memo with a bold claim : “ a stable competitive market never has more than three significant competitors, the largest of which has no more than four times the market share of the smallest.”. It is not subject to rigorous proof. This is a mistake. The Framework.

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Consulting Business Problem Solving Strategy Problem Solving 52

StrategyU

MARCH 10, 2024

Instead, the jargon machine of modern business has given us “downsizing,” “right-sizing” or “made redundant.” The concept of a business school was historically more about learning how to become a bookkeeper than the analysis of data and the application of strategy frameworks to increase profits and gain market share away from competitors.

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StrategyU

MAY 29, 2024

At the highest level, most cases are similar: The interviewer presents background on a “client’s” business problem or scenario (e.g., Who wouldn’t want to test a candidate’s problem-solving abilities (rather than hear about them in the traditional behavioral interview)? “You did how many case studies?”

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Consulting Problem Solving Recruitment Communication 52

StrategyU

OCTOBER 6, 2024

This is normal, and something that makes sense because you need a steady state of operations that is consistent and reliable to keep the business running. To do great work, you need to put information in context and to put your tasks in context, you need to have an understanding of what your business actually does.

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Consulting Performance Strategy Business Problem Solving 52

StrategyU

NOVEMBER 20, 2023

After having a couple more jobs which I continued to learn, develop confidence in my skills and gain more clarity over the type of work I wanted to do, I decided it was time to make the leap. During this transition, many people develop a completely different mindset and perspective on work, income, money and how they live life.

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StrategyU

JANUARY 20, 2025

One of the most important ideas in consulting problem solving is MECE. This course teaches you how to synthesize information into compelling insights, structure your information in ways that help you solve problems, and develop presentations that resonate at the C-Level. It’s typically pronounced, mee-see.

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StrategyU

JUNE 12, 2021

Dewey added that critical thinking is “suspended judgment, and the essence of this suspense is inquiry to determine the nature of the problem before proceeding to attempts at its solution.”. The problem with defining critical thinking in a more detailed way is that it sends one in a circular loop. What Is Critical Thinking?

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StrategyU

JULY 23, 2021

Managing this delicate balance is vital to ensure you lay the groundwork to building a lasting freelance business. I’ve been freelancing for four years. In the past two years, I’ve hired several freelancers and have found that many of them struggle with these things I learned in the early days of working on my own.

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StrategyU

NOVEMBER 28, 2020

Do you have a toolkit for business problem solving? In my several years in strategy consulting, I learned about the many ways data, information and charts could be used to fit with an existing storyline. Most of the time this is done in good faith but other times it enters into a grey area.

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StrategyU

JULY 5, 2020

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 2 (1880s?

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StrategyU

SEPTEMBER 28, 2022

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. One of the most important parts of organizing information is developing a clear summary or insight that describes the group.

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StrategyU

OCTOBER 29, 2024

Analytical mindsets allow problem solvers to navigate through complexity and arrive at data-driven solutions as efficiently as possible. Analytical mindsets allow problem solvers to navigate through complexity and arrive at data-driven solutions as efficiently as possible. It is essential for turning curiosity into actionable insights.

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StrategyU

OCTOBER 31, 2024

per year Example Project: A leading retail chain is struggling to adapt to the rise of e-commerce and wants to shift part of its business online. A strategy consulting team from McKinsey works with their C-suite to develop a digital transformation roadmap. “Consulting” is a broad term in today’s world.

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