Innovative Knowledge And Superior Staff example essay topic
325 words
INTEROFFICE MEMORANDUM TO: RAJ AT GUPTA, MANAGING DIRECTOR, MCKINSEY & COMPANY FROM: MARKHAM 'C' TEAM SUBJECT: McKinsey & Company case DATE: 8/27/03 In order to meet your strategic objective of making McKinsey & Company stronger than you found it we have outlined the following three major issues and two recommendations for your consideration. Major Issues Requiring Management Attention: O Dissemination / Transfer of Knowledge McKinsey & Company consultants are not fully utilizing, leveraging, or sharing the vast amounts of knowledge at their disposal. This limits the total aggregate value that they can offer customers globally. Tacit knowledge needs to be encapsulated for company wide sharing as well as retention beyond employee tenure. O Global Structure and Organization Intellectual capital is not coordinated appropriately to geographical need.
This inefficient global structure limits McKinsey's total customer service potential, and also creates a cumbersome logistics process when trying to meet global customers' diverse demands. O Knowledge Acquisition and Development To match the growing level of customer sophistication and diversity, McKinsey needs to increase the speed at which it acquires new knowledge. This is necessary to maintain a competitive advantage, create innovation and attract superior staff. The goal is to create a virtuous circle of better clients, more innovative knowledge, and superior staff. Recommendations: O Improve Knowledge Sharing Strengthen the knowledge-sharing culture by implementing a compensation program that encourages the committed publication of learning. Learning includes experience and knowledge, and is not limited to engagement results only.
Global insights will therefore be available to all McKinsey personnel. O New Knowledge Development Develop career planning and recruitment programs that attract superior experts in new fields and emerging industries for the accumulation and subsequent mobilization of new learning. Promote breakthrough learning with bonus compensation packages. Encourage publication of peripheral insights acquired during engagements.
These processes will ensure McKinsey remains on the cutting edge of new knowledge.
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