1160 Posts found for Source: McKinsey Quarterly

Too many companies do not measure employee satisfaction or the support functions’ performance effectively and so fail to understand the needs of the employees using these internal services. The result is a diminished opportunity to take corrective action.

Content: Quotation | Authors: Nicolas Maechler, Sébastien Lacroix, Sylvie Bardaune | Source: McKinsey Quarterly | Subjects: Human Resources, Management, Organizational Behavior

Despite strong pressures to focus on the short term, it is possible to manage for the long term and reap considerable rewards.

Content: Article | Authors: James Manyika, Sree Ramaswamy, Tim Koller | Source: McKinsey Quarterly | Subjects: Best Practices, Corporate Governance, Management, Strategy

The heart of effective customer-experience measurement is the organizing principle of measuring experience at the journey level, as opposed to looking only at transactional touchpoints or overall satisfaction. […] A more holistic measurement strategy starts with an integrated measurement model in which all customer-experience metrics along touchpoints and journeys flow up to a top-line metric (Exhibit 1). It matters less which top-line metric a business … [ Read more ]

Content: Quotation | Authors: Harald Fanderl, Kevin Neher, Ralph Breuer, Victoria Bough | Source: McKinsey Quarterly | Subjects: Customer Related, Measurement

While IoT-enabled advanced analytics could be worth trillions to manufacturers, turning insights into outcomes requires more than just the right technology.

Content: Article | Authors: Mark Patel, Richard Kelly, Subu Narayanan | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Operations

About $8 billion a year is spent on diversity trainings in the United States alone. Now, I tried very hard to find any evidence I could. […] Sadly enough, I did not find a single study that found that diversity training in fact leads to more diversity. Now, that’s disappointing, discouraging, but maybe when we unpack it also understandable. The unpacking means that there’s a … [ Read more ]

Content: Quotation | Author: Iris Bohnet | Source: McKinsey Quarterly | Subjects: Human Resources, Training & Development, Women in Business

Working on health works. It’s good for your people and for your bottom line.

Content: Article | Authors: Chris Gagnon, Elizabeth John, Rob Theunissen | Source: McKinsey Quarterly | Subjects: Best Practices, Management, Organizational Behavior

Business leaders typically spend about 30 percent of their time on external engagement, but by their own assessment, few do so effectively. For more business leaders to “step up to the plate” and “play a key role in driving solutions,” they will need to do more to embed society’s concerns in their business priorities, to make external engagement an integral part of their strategy, and … [ Read more ]

Content: Quotation | Authors: Ezra Greenberg, Martin Hirt, Sven Smit | Source: McKinsey Quarterly | Subjects: Social Responsibility (ESG), Strategy

Technologies and customer expectations have changed faster than marketing organizations. Here’s how to fix that.

Content: Article | Authors: Alex Harper, Biljana Cvetanovski, Björn Timelin, Raphael Buck | Source: McKinsey Quarterly | Subject: Marketing / Sales

When controlling costs dominates the corporate agenda, it sucks the oxygen out of any growth plan.

Content: Quotation | Authors: Jesko Perrey, Kabir Ahuja, Liz Hilton Segel | Source: McKinsey Quarterly | Subjects: Management, Strategy

Digital innovation and user feedback provide a catalyst to simplify products and customer experience, but to capture economic value, you need to take a further step: link the new experience to underlying operational processes. That requires an understanding of two things: what creates value across a given journey from the customer’s point of view (faster cycle time, personalization, cross-channel functionality, and so on) and what … [ Read more ]

Content: Quotation | Authors: Ewan Duncan, Shital Chheda, Stefan Roggenhofer | Source: McKinsey Quarterly | Subjects: Customer Related, Management

Having a consistent brand voice in the digital age is not easy. Here’s how to think about the challenges and opportunities.

Content: Article | Authors: Jesko Perrey, Jonathan Gordon, Prashant Gandhi, Sofia Serra | Source: McKinsey Quarterly | Subjects: Customer Related, Marketing / Sales

In our experience, it helps to think of a crisis in terms of “primary threats” (the interrelated legal, technical, operational, and financial challenges that form the core of the crisis) and “secondary threats” (reactions by key stakeholders to primary threats). Ultimately, the organization will not begin its recovery until the primary threats are addressed, but addressing the secondary threats early on will help the organization … [ Read more ]

Content: Quotation | Authors: Mihir Mysore, Sanjay Kalavar | Source: McKinsey Quarterly | Subjects: Management, Risk Management

Any organization can improve the speed and quality of its decisions by paying more attention to what it’s deciding.

Content: Article | Authors: Aaron De Smet, Gerald Lackey, Leigh M. Weiss | Source: McKinsey Quarterly | Subjects: Decision Making, Management, Organizational Behavior

Executives don’t have to fall into the trap of short-termism to serve their shareholders, say McKinsey principal Tim Koller and senior expert Marc Goedhart, two of the coauthors of the sixth edition of Valuation: Measuring and Managing the Value of Companies. In this episode of the McKinsey Podcast, Koller and Goedhart talk with McKinsey Publishing editorial director and McKinsey Quarterly editor in chief Allen Webb … [ Read more ]

Content: Multimedia Content | Authors: Marc H. Goedhart, Tim Koller | Source: McKinsey Quarterly | Subject: Management

Companies need to recognize and address the fact that—at least, in most cases—they are simply not wired to naturally think about the journeys their customers take. They are wired to maximize productivity and scale economies through functional units. They are wired for transactions, not journeys.

Content: Quotation | Authors: Kevin Neher, Nicolas Maechler, Robert Park | Source: McKinsey Quarterly | Subject: Customer Related

We asked executives to tell us about the circumstances in which their leadership-development programs were effective and when they were not. We found that much needs to happen for leadership development to work at scale, and there is no “silver bullet” that will singlehandedly make the difference between success and failure. That said, statistically speaking, four sets of interventions appear to matter most: contextualizing the … [ Read more ]

Content: Article | Authors: Claudio Feser, Michael Rennie, Nicolai Nielsen | Source: McKinsey Quarterly | Subjects: Human Resources, Leadership, Training & Development

That broad narrative of intensifying competition, as well as the growing need for cooperation, contains challenges, but also great opportunity. We hear about the challenges every day in our conversations with global business leaders: How long can their traditional sources of competitive advantage survive in the face of technological shifts? How will changing consumer and societal expectations affect their business models? What does it mean … [ Read more ]

Content: Article | Authors: Ezra Greenberg, Martin Hirt, Sven Smit | Source: McKinsey Quarterly | Subjects: Economics, Trends / Analysis

Nonfinancial risk has typically been addressed by one-off showcase initiatives based on a specific regulation or requirement, and left to experts in each field. What principles exist typically focus on adhering to formal standards and providing evidence that appropriate controls are in place. They are usually not embedded into the business but are instead delegated to risk and compliance departments, which have a limited understanding … [ Read more ]

Content: Quotation | Authors: Joseba Eceiza, Piotr Kaminski, Thomas Poppensieker | Source: McKinsey Quarterly | Subject: Risk Management

Managers either love or hate benchmarks. Those in the former camp see benchmarks as valuable metrics for understanding the competitive landscape and for triggering important internal discussions; they believe companies should strive to meet or exceed benchmarks. Those in the latter camp argue that every company is unique and that it’s therefore unhelpful and illogical to compare one company’s decisions, structure, and head count to … [ Read more ]

Content: Quotation | Authors: Camilo Becdach, Lauren Ratner, Shannon Hennessy | Source: McKinsey Quarterly | Subjects: Best Practices, Management

When embarking on cost-cutting programs, many consumer companies adopt a hands-off posture toward what they consider strategic functions—those they see as core to the business—and focus instead on finding back-office efficiencies. Companies have repeatedly searched for savings in their cost centers and support functions by implementing lean techniques as well as through more transformative changes such as automation and outsourcing. The core functions, on the … [ Read more ]

Content: Quotation | Authors: Camilo Becdach, Lauren Ratner, Shannon Hennessy | Source: McKinsey Quarterly | Subjects: Finance, Management