Mckinsey's Knowledge Management Practices

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Case Details:

Case Code : ITSY058
Case Length : 19 Pages
Period : 1980-2007
Pub Date : 2007
Teaching Note :Not Available
Organization : McKinsey & Company Industry : Consulting
Countries : US

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"Sharing knowledge is deeply embedded (at McKinsey and Company)... it is just totally expected, that is what you do."¹

- John Stuckey, Managing Partner, McKinsey & Company, Australia, in 2001.

"The three fundamental dimensions of our strategy are lines, people, and knowledge.."²

- Rajat Gupta, Former Managing Director, McKinsey & Company, in 2001.

Introduction

In July 2006, US-based McKinsey & Company (McKinsey) earned recognition as one of the companies committed to growth through innovation and managing enterprise knowledge to create intellectual capital.

McKinsey figured in the Most Admired Knowledge Enterprises (MAKE) Report³ 2006, published by Teleos⁴ (Refer to Exhibit I for the winners of 9th annual Global MAKE Study).

A panel comprising executives from Global Fortune 500 companies and KM experts chose the winners of the 2006 MAKE awards (Refer to Table I for the traits of the companies that won the 2006 Global MAKE Awards).

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Commenting on the winners, Rory Chase, Managing Director of Teleos, said, "These organizations have been recognized as global leaders in effectively transforming enterprise knowledge into wealth-creating ideas, products, and solutions.

They are building portfolios of intellectual capital and intangible assets which will enable them to out-perform their competitors now and in the future."⁵ McKinsey was also inducted into the Global MAKE Hall of Fame for being a Global MAKE finalist for five years in a row. On McKinsey, the MAKE report wrote, "McKinsey & Company, founded in 1926, is perhaps the most knowledge-oriented firm within the global management consulting industry. McKinsey is not the largest consulting company in the world (US$ 3.5 billion in annual revenues and 10,000 staff working in more than 80 offices in 44 countries), but it is among the most profitable and many consider that it has the strongest brand image.

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1] Lucinda Schmidt, "Knowledge: Word Spreads on Collective Wisdom," Australia's BRW, February 23, 2001.

2] "McKinsey's Managing Director Rajat Gupta on Leading a Knowledge-Based Global Consulting Organization," Academy of Management Executive, May 2001.

3] The report was developed by KNOW Network, in association with Teleos. KNOW is a global community of knowledge-driven organizations dedicated to sharing best knowledge management practices. Teleos is an independent knowledge management and intellectual capital research firm.

4] Teleos is an independent knowledge management research company that administers the MAKE program. Teleos founded KNOW Network in 1999.

5] 2006, Global Most Admired Knowledge Enterprises (MAKE) Report,www.knowledgebusiness.com, July 27, 2006.

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