McKinsey & Company: The First Management Consultants

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[00:02:35] - [First question] - What is McKinsey & Company and what management consulting looks like

[00:04:52] - Their project-based model and what’s being bought and sold when McKinsey makes a sale

[00:07:36] - The scale of the business and how profitable it is

[00:08:58] - How many projects McKinsey is running and how big of an opportunity management consulting is

[00:10:37] - McKinsey’s famous ownership model and how it works 

[00:12:49] - The history of McKinsey, who started it, and how it has evolved in modern times

[00:19:01] - How the firm has changed in the post-Bower era

[00:22:12] - McKinsey’s biggest competitors, their dynamics of practice groups, and vertical projects

[00:25:46] - How a CEO or top level manager decides which management consulting firm to do business with

[00:27:38] - The overview of a normal project for McKinsey, what they sell, and costs associated with it

[00:33:07] - The process of marketing and sales and their talent flywheel

[00:36:07] - The traditional side of their sales and marketing and the McKinsey Quarterly 

[00:37:44] - How someone can pitch business to McKinsey and their sales process

[00:39:47] - What makes the organization special and unique from a team or work perspective

[00:41:01] - Their talent model and how they find and develop their talent 

[00:45:14] - How their staffing model is unique and how they tie feedback into staffing 

[00:51:06] - Examples of the scandals that have happened and why

[00:55:24] - The biggest growth levers of the business looking forward

[01:02:03] - Things that could happen in a macro environment to aid McKinsey’s future

[01:03:52] - What could happen to make McKinsey a shell of its former self 

[01:05:38] - Where Romeen would direct people to go for further study; The Firm

[01:06:31] - Lessons for builders and investors when studying McKinsey’s story