McKinsey & Company is one of the world's top management consulting firms. With roughly 90 offices in more than 50 countries around the globe, it serves three of the world's five largest companies and about two-thirds of the FORTUNE 1000. The company advises corporate enterprises, as well as government agencies, institutions, and foundations on a number of business practices. They include business technology, corporate finance, marketing and sales, operations, organization, risk, and strategy. McKinsey's consulting services focus on more than a dozen different industries, from automotive and banking to pharmaceuticals and telecommunications. Founded by James McKinsey in 1926, the firm is owned by its partners.
McKinsey takes advantage of its global reach to gain business from multinational companies that want help in harmonizing their diverse operations. Toward that end, the firm aims to work collaboratively across its own organization, bringing together the work of multiple offices and practices on behalf of a single client.
In addition to being one of the oldest consulting firms, McKinsey is considered one of the most prestigious (along with Boston Consulting Group and Bain) as measured in surveys of aspiring consultants. Contributing to McKinsey's allure as an employer is the firm's network of more than 20,000 alumni, many of whom have been tapped for C-level jobs during the course of their careers. Alumni running companies, in turn, represent a potential source of business for the firm.
Among the firm's major achievements are the designing of the initial setup of NASA, advising the Vatican in setting up its banking system, and developing of the Universal Product Code. As part of a special, cross-industry initiative, McKinsey is also involved in advising global clients on the business impact of climate change. It specifically provides analytical tools to help companies and governments become more cost, energy, land, and water efficient for a more sustainable future.
In 2009 managing director Ian Davis stepped down as Dominic Barton, the firm's regional leader in Asia, was elected to the post by McKinsey's 400 or so senior partners. Davis had served in the slot for two terms, the maximum allowed under McKinsey's policy. – less