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Cultura Documentos
(a) What are the critical components of GS’s culture and value system?
i) Retaining an appreciation for the firm’s culture and history
ii) Weinberg’s central principles: long-term relationships (over short-term
profits and steady, safe growth (over risk taking).
iii) The business principles that emphasized teamwork, integrity, reputation,
talent and quality.
iv) Keeping burgeoning egos in check – “Client’s are simply in your custody.
Somebody before you established the relationships, and somebody after
you will carry them on.”
v) Blend of confidence and commitment to excellence and an inbred
insecurity that drives people to keep working and producing long after
they need to.
vi) Hiring high achievers
vii) Strong norm of feedback seeking behavior and an openness to critique.
viii) Better outcomes emanate from a shared work effort than with that of a
single individual.
ix) Supporting partners through good and bad times – the essence of
partnership.
x) Unique apprenticeship model.
(b) How do they manage the conflict between making clients happy and doing what
is right-ethics?
i) This is not really addressed – it seems that the firm believed that by simply
hiring the best and the brightest and by keeping a check on arrogance that
clients would be kept about and professionals would simply do what was
right. The firm is very inward looking and focused on excellence and
seems to believe that by virtue of its culture that clients would be
adequately served without this conflict coming into play.
(c) How do they manage the conflict between a team culture and individual pay-for-
performance?
i) The creation of a new source of developmental feedback – instituted 360-
degree performance reviews in the 1990s
ii) Creation of new title of Managing Directors bestowed on Vice Presidents
with all the benefits of partnership – equal salaries and offices – purpose
was to increase competitive strength.
iii) Mentoring apprenticeship process.
iv) Committee structure - Executive, Operating, and Partnership Committees
– taking line people and having them focus on broader issues important to
the firm.
v) Relying on two or three line managers to jointly lead departments and
divisions – increased representation and ownership – extra leadership
opportunities helped to retain tope players.
(b) What were the key components of the Andersen culture-value system?
i) The firm regardless of size should “act as one firm and speak with one
voice”.
ii) Honest accounting with no conflict of interest. Public accountants should
be answerable to the investing public, not the companies they audit.
iii) Independence above everything.
a. Describe the objectives of Marvin Bower when he took over the New York office
of McKinsey
i) To serve clients well so that their executives would recommend them or
refer them to more successful businesses.
ii) To become the leading management consulting firm in the US.
iii) Be known as favorably as any other firm in their field for the quality of
their work, the prestige of their clientele, their professional standing ,and
the caliber and competence of their consulting staff.
iv) Be an economically stable firm that continues in perpetuity.
v) Every individual in the firm will protect and build its future and reputation
b. What were the key differentiating business operating principles which Bower
adopted?
i) The “top management approach” as articulated in the General Survey
Outline.
ii) Emphasis on persuading clients to act on our recommendations.
iii) Ceased using per diem rates and arranged fees based on the value of the
study McKinsey would conduct for the client firm, an extension of the
trust that it wanted to establish with clients.
iv) Professionalism – the firm had to bring something special to the client, a
special skill, experience, or reputation, and also professional attitude.
e. What key management principles lie at the heart and soul of McKinsey’s
success?
i) Fact-based and Fair Personnel Decisions – performance is the central fact
on which personnel decisions are made.
ii) Obligation to Dissent
iii) Spirit of Partnership
iv) Consideration for others
v) De-emphasis of Hierarchy
vi) Leadership by Consultants
f.
d. Why did Best Buy adjust its executives’ stock option plan?
i) To create greater equality and stakeholder loyalty at all levels within the
institution.