Module Title:- Professional Development II Group Members, Name and ID; Kamran Bilal..

0136dodo0213 (Group Leader) Kwaku Konadu..... 0130mwmw0213 SolievMavlonbek. 0086mwmw0612 Rahmatjon Matkarimov 0131mwmw0213 Md Minhaj Uddin. 0124nene1013 Farrukh Rizakulov 0179mwmw1012 Course: BABS, semester: 3 Lecturer: Dr. Francis Asirvatham Submission Date: 16-12-2013

Contents
1.0 Introduction ............................................................................................................................................ 3 1.1 Company Profile ...................................................................................................................................... 3 1.2 Board of Directors ................................................................................................................................... 4 Dr James Manyika ............................................................................................................................. 4 He is a director of Mckinsey global Institute; he has worked with many companies. James was born and raised in Harare, Zimbabwe. He was appointed in 2011 by the US secretary of commerce to serve on a 15 member national Innovation Advisory Board. ............................................................................. 4 1.3 Mission and Vision .................................................................................................................................. 4 1.4 Social Responsibility ................................................................................................................................ 5 1.5 Nature of Business .................................................................................................................................. 5 2.0 Teamwork............................................................................................................................................. 5 2.1 Mckinsey and Team working .................................................................................................................. 6 2.2 Mckinsey team parts ............................................................................................................................... 6 2.2.1 Requirement to dissention .............................................................................................................. 7 2.2.2 Emphasis on receiving results .......................................................................................................... 8 3.0 Specific Business ..................................................................................................................................... 8 3.1 Consulting and Work focus ..................................................................................................................... 8 3.2 Believing in Professionalism and meaning.............................................................................................. 8 4.0 Critical analysis of McKinsey Company ................................................................................................... 9 4.1 Benefits of McKinsey Company ............................................................................................................ 10 4.2 Drawbacks of the company................................................................................................................... 10 5.0 McKinsey Implementation .................................................................................................................... 11 5.1 Various backgrounds, deep implementation expertise .................................................................... 11 5.2 Teams flexible in size and approach ................................................................................................. 12 6.0 Challenges ............................................................................................................................................. 12 7.0 Recommendations and Conclusion....................................................................................................... 13 Bibliography ................................................................................................................................................ 14

1.0 Introduction

Team-working can be defined as the process of working collaboratively with a group of person with the aim of achieving a well-defined goal. The work required to be done is to give the impact or the relationship of team-working in McKinsey & Companys in performance. At first, we are going to present the company that is McKinsey & Company, after we are going to analyze the company by explaining detailing how does team-working affects the companys performance, after we should make a recommendation on the aspects the firm needs to emphasize and to improve and at the end, we should conclude the work, with of course giving all the sources where the information were obtained.

1.1 Company Profile

Mc Kinsey & Company is one of the top world best consulting management firms; it is dedicated to help its clients to address their strategic challenges. It is operating in more than 50 countries with roughly 100 offices. The firm offers its services to private institutions as well as government agencies in their practices. It was founded in 1926 by James Mckinsey.

1.2 Board of Directors Dr James Manyika

He is a director of Mckinsey global Institute; he has worked with many companies. James was born and raised in Harare, Zimbabwe. He was appointed in 2011 by the US secretary of commerce to serve on a 15 member national Innovation Advisory Board.

Dominic Barton
Managing Director He is the managing director of Mckinsey & Company. He joined the entity since 1986 and since then he has advised all the various clients of the firm. He was awarded in 2009 by the Magniola Gold prize in shangai government for its contributions to the community well-being.

1.3 Mission and Vision

Mission

The mission of the organization is to assist our clients for the improvement in their performance and to create a firm that provides value to our stakeholders by attracting, developing, exciting, and retaining them more than any one.

Vision Our vision is to be the number one consulting firm by giving a tireless support to our clients.

1.4 Social Responsibility

As all the stakeholders of the firm, the board is placing an increasing importance on corporate social responsibility to strengthen the organization while contributing to the welfare of the society at the same time.

1.5 Nature of Business

The business activities of the firm are to assist clients in the implementation of their complex strategic plan. This helps our clients to better understand their business and to monitor their activities.

2.0 Teamwork
The concept that defines people effort together like a team with intend of achieving similar aims or points called Teamwork. Functioning as a team incorporates working supportively and exploiting individual powers within a group to reach the common objectives and targets. Four basic elements are contained by the good teamwork; they are goals, roles, process and relationship. When those basics are followed, target will have been accomplished properly and timely.

2.1 Mckinsey and Team working

There are no organizational charts at Mckinsey and engagements are not same. Consultants usually cite this variety as one the excellent part of the job. Every engagement provides opportunity to work new teams of Mckinsey consultants and consumers that are nearly part of the project team. From the Mckinsey teams approach the team is responsible for planning, leading the assignation, continuing relationships with the customer, joining in every stage of the engagement and to be make sure the eventual value of the work.

2.2 Mckinsey team parts

Teams are generally made up of mix tenures, containing an engagement manager, acquaintances, a business specialist, associate principal and partner. Every member of the team is fully fledged with duty for an individual part of the project. Usually teams are made from different level of experienced consultants.

The engagement director works with the client chief executive to improve clear directive for the assignment, also works with engagement manager and business leader of client to improve work strategy, clarifications. provide required

The

engagement

manager

is

required to be accountable for the day-to-day running of the

assignment, working with a full-time client team leader, a senior executive of the business and to improve a strategy and plan of action.

The associate: this is the leading role among the team work in determining issues, forming hypotheses, planning and guiding analyses, organizing assignment plan, creating presentations and helping to implement change. (Mckinsey, 2013)

2.2.1 Requirement to dissention

All of the Mckinsey consultants have been obligated to dissent, whether consultants determine something is wrong or it is not the best interest of the client. Everybodys opinion is counted. While someone may be believe or hesitant to disagree with the senior member or the client, that person is expected to share its attitude. (Mckinsey, 2013)

2.2.2 Emphasis on receiving results

Its core values signify its complete dedication to client. Before receiving the assignment, Mckinsey teams must believe that they believe to give substantial aids and effect to the client. Actually there are not any unscalable barrages to achieving those benefits. Whether client believe team is not providing the best solution or benefits are not likely to be reached, they are free to terminate the arrangement.

3.0 Specific Business

As it said above this is the consulting firm that gives a hand to leading companies develop their strategies, organizations and also their operations. Nonprofit organizations, institutions and some governments groups also are helped by the Mckinsey. Its the proud for the company that 100 of their clients are the worlds top 150 global companies; they are in the every major industry. Almost 80 percent work of the company is thru clients that they have assisted previously.

3.1 Consulting and Work focus

Company concentrate on problems on concern to top management and it is the managerial consulting firm. Mckinsey emphases on strategy initiatives, key redesign programs, IT supported business solutions, mergers and achievements and production developments. There are some services that company does not offer and they are: auditing, legal or political advice. (Mckinsey & Company, 2013)

3.2 Believing in Professionalism and meaning

Putting the clients interest advance of its own Behave like professionals Keeping the clients information confidential

 Telling the truth as its seen Delivering the best of the firm for every client Mckinsey believes in teamwork and collaboration. They would prefer to answer in teams than answer individual. That means consultants do not compete against each other. As a replacement for, they share a structured problem solving method, where all ideas, opinions and options measured, explored and analyzed wisely before making the recommendations. (Mckinsey & Company, 2013)

4.0 Critical analysis of McKinsey Company

Actually the some Company its capturing the value of digital renovation will be in most industries and there are some critical for endurance in some. Because Business leaders must charge their own company`s value at wager, spend proportionally to address key opportunity and risks, and keep in intellect that the greatest digital value may reside beyond their customer facing purpose. As well as, a critical confront for produce will be to move toward footprint choice in a more nuanced method. In the other hand there are some critical reasons of McKinsey Company because before this company was working with ENRON Company about Alumni products and one of the biggest customers before its fall down. But McKinsey corporation its members or team may not how to discuss specific client situation. In particular, this company`s was deepseated conviction that having improved talent at all levels is how them do better than its competitors, and HR plan implemented at Enron with McKinsey`s knowledge and resulted. And prima donnas that took more credit them for success than was lawful but that was not acknowledge responsibility for its not success also Jeff Skilling, sentenced to 24 years in national prison as the CEO of Enron and was previously a partner at McKinsey loyal alum. (McKinsey, n.d.)

4.1 Benefits of McKinsey Company

Additionally in this company has more benefits ways than disadvantages because McKinsey company its members or the most effective teams are working together with get early results in their efforts to deal with important business issues and their achieve the goals and how to add value or improve products with their helpfully each other and respect more performance that pervades this organization. As well as there are three dimension of performance A shared understanding of goals and values Skills of interaction are crucial because the team is to go beyond individual expertise to solve complex problems and equally and of the rest organization for people usually take their cues from the top. Top teams must always be able to renew themselves and to expand their capabilities in response to change McKinsey`s sales and Channel management group helps clients master multichannel for sales excellence and the effectiveness of their sales investments and interactions with consumer and tools to helps companies increase the satisfaction and value of their customer and in this ways company taking more benefits for future growth. (McKinsey and comapnay, 1996-2013)

4.2 Drawbacks of the company

On the other hand in this company have some issues with employees or with customer because any organization has owning CEO or leaderships and as well as of McKinsey`s also its CEO`s think top teams share a ordinary understanding of corporate strategic goals and their propose such as (corporate strategies expected conducts and formal descriptions of roles and plans all reinforce this assumption but there are several realties undermine it.

 Lack of customer focus: management consulting is at its core B2B. it may touch consumer indirectly because when the consulting for large consumer packaged goods company but their primary focus is delivering value to other companies. Lack of deep understanding: in this case , the top teams are making decision their agrees on plans but there are some actions are disagree with its decisions because that is issues reflect the tendency of top teams to focus on making decision without examining the assumption the criteria and the rationales behind them (Mckinsey and company, 1996-2013)

5.0 McKinsey Implementation

McKinsey Implementation experts deal intensively with customers throughout many industries including from mining and industrial production to banking system and merchandising to reach much better performance development using operative reconstruction, redeployment, and advanced strategies. The company is able to run implementation widely through organizations, creating more quick solutions and building lasting customer capabilities. The Companys support model is very adjustable which is planned to match up to specific customer needs and wants. (Bhid, 2011)

5.1 Various backgrounds, deep implementation expertise

The Companys Implementation is located in fifteen countries across the globe, which allows to
attract implementation experts who knows local opportunities and challenges. McKinsey Implementation team consist more than 180 specialists who already have from ten to

thirty five years of practical knowledge in implementation consulting or in line management. All those people came from different types of industries and have knowledge, skill in conducting large-scale performance development plans.

5.2 Teams flexible in size and approach

Before the beginning of any implementation, company experts work with customers to develop projects that match their unique conditions. Moreover they also determine and handle possible barriers and risk factors applying a proprietary assessment tool. As each project is not similar to one another, the experts modify the group configuration. Throughout the whole process, company experts keep assistance, working with customers as long as needed to reach the most wanted results. (Minners, 2011)

6.0 Challenges
Controlling International Companies has always been a commercial problem for centuries. However the essence of the task is changing with the accelerating shift of economic activity from Europe and North America (Pergler, 2013 August) After careful investigation the company suggests that four hundred mid size developing-market cities majority unknown in the West, will bring approximately forty percent of overall growth for the following fifteen years. (Dmitri Krivin, 2013 May) As an Example a very famous European Bank had a problem with combining two different credit

platforms.

. To add to the complexity of the challenge, inefficient credit processes were

contributing to high operating expenses at both banks. The banks leaders reached out to McKinsey for support. The McKinsey team started by examining all aspects of the credit value chain. It evaluated the credit organizational structures and incentive systems to determine whether they were in alignment with the banks overall credit-quality objectives. Using this fact base as a foundation, the McKinsey team then helped the client with a comprehensive redesign of the credit business. By unifying and optimizing its credit operations, the bank achieved a significant reduction in its cost of risk, which in prior years was on average 50 basis points higher than rival European

banks. In the three years following the project, the banks cost of risk dropped to 23 basis points below that of its peers. In addition, the application of lean techniques resulted in more efficient credit processes, yielding a 15 to 20 percent reduction in operating expenses in each customer segment. Strategic confidence and stretch To be a global brings some strategic advantages like the opportunity to reach different consumer markets, new providers, and various partners. At the same time being global may bring some strategic problems. A lot of organizations consider it increasingly challenging to be locally flexible and adjustable as they widen their worldwide reputation. (Rob McNish, March 2013 )

7.0 Recommendations and Conclusion

In order to be more effective and efficient McKinsey must implement 3 major factors of team working. This are explained below in brief:
Supportive Environment Teamwork will be more effective if the management of

McKinsey develops a supportive environment for it. This can be done by encouraging their members to think like a team, providing sufficient time for meetings, and must have the environment to exhibit their capacity to work. This type of supportive measures will help the team members of McKinsey to achieve the initial step towards the effective teamwork. Since these steps requires further cooperation, trust and compatibility, managers of McKinsey must ensure to build a new organizational culture that support this conditions.
Skills and Role Clarity Team members of the McKinsey must have the adequate

capacity to perform the assigned task and have the attitude to cooperate. Apart from these requirements, members should work together as a team only if all the other members in that working group must know the roles of their teammates with whom they will be

interacting. This will help the team members to understand their goals and to accomplish their assigned task as quickly as possible.
Team Rewards Another powerful element that McKinsey might introduce to boost up

their team work is the presence of team rewards. This can be in the form of financial or non financial i.e. recognition or it can be the combination of both. Rewards are most powerful motivational technique if they are properly appreciated by the team members. In addition, McKinsey should carefully balance in encouraging and rewarding individual initiative and at the same time looking after the total contribution of the team success. In McKinsey the non-financial rewards can be given in the form of selecting new members of the group or suggesting a new team leader or proposing discipline for team members. So we may conclude that Mckinsey & Company is working throughout the globe with just one aim that is to provide help to the companies which are in need. Mckinseys great team work strategies are very well planned and this makes Mckinsey & Company worlds top most consultant company. Mckinsey solutions is changing the way businesses make decisions and achieve long term performance improvement. The companys solutions comprise Mckinsey expertise with strong, accessible technology to join disparate sources of data and provide a single, clear view on complex problems. (SORKIN, 2013) The client companies seek an environment where diverse, remarkable people work closely together to solve problems and create future. Mckinsey and Company is expanding faster and bringing in more organization to work with, actually most of the times, companies choose us to work with not Mckinsey.

Bibliography
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