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Disruptive innovation, McKinsey-style

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Ex plore the serv ices that are adding new dimensions to our work with clients. McKinsey Advanced Data & Analytics McKinsey Implementation After y ears of debate and study , in 2007 McKinsey & Company initiated a series of business model innov ations that could reshape the way the global consulting firm engages with clients, writes Professor Clay ton Christensen in the October 201 3 issue of Harvard Business Review . Christensen, the Kim B. Clark Professor of Business Administration at Harv ard Business School, argues that professional serv ices such as management consulting and law are ripe for disruption by new competitors using technology and networks to serv e clients. In the article, he makes a case that disruption is inev itable and highlights McKinsey s innov ations to prov ide clients with new way s to access ex pertise and capabilities outside of traditional consulting projects. For ex ample, McKinsey Solutions prov ides software and technology -based tools to help clients make better decisions based on prov en methodologies and proprietary data. Why would a firm whose primary v alue proposition is judgment-based and bespoke diagnoses inv est in such a departure when its core business was thriv ing? asks Christensen, with coauthors Dina Wang and Derek v an Bev er. In a podcast accompany ing the article, Dominic Barton, McKinsey s global managing director, discusses the rationale with Christensen. He describes the 1 8month strategy journey that led to the decision to scale up not only McKinsey Solutions but also a range of other new serv ices. These include McKinsey Implementation, McKinsey Adv anced Data & Analy tics, and McKinsey Recov ery & Transformation Serv ices. The firm talked intensiv ely with leaders across a wide range of organizationsboth clients and non-clientsabout their biggest challenges and how McKinsey could help them to succeed. One consistent request was for more flex ibility and options to reinforce the firms core consulting work. In addition to analy sis and problem solv ing, clients wanted McKinsey s help with building organizational capabilities, implementing change, lev eraging data, turning around troubled business units, and more. Looking ahead 1 0 to 20 y ears, Mr Barton concludes: Im determined that were going to be around and be leaders, come hell or high water. But what we do and how we work will, I think, hav e changed pretty significantly . Read more on the Harvard Business Review site: Consulting on the Cusp of Disruption (article) Clay Christensen and Dominic Barton on Consultings Disruption (podcast) McKinsey Recovery & Transformation Services McKinsey Solutions

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