The McKinsey Way – Ethan M. Rasiel 1999

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A very simple and good reminder on how to go about solving problems.

“Facts are friendly” (Rasiel, 1999, p.4). “First, facts compensate for a lack of gut instinct,” (Rasiel, 1999, p.4). “Second, facts bridge the credibility gap.” (Rasiel, 1999, p.5).

 “MECE (pronounced “me-see”) stands for “mutually exclusive, collectively exhaustive” and it is a sine qua non of the problem-solving process at McKinsey.” (Rasiel, 1999, p.6).

Defining the initial hypothesis:“The essence of the initial hypothesis is “Figure out the solution to the problem before you start.” (Rasiel, 1999, p.9). “To structure your IH begin by breaking the problem into its components – the key drivers. (….) Next make an actionable recommendation regarding each driver.” (Rasiel, 1999, p.10).

 “The end product of this exercise is what McKinsey calls the issue tree. In other words, you start with your initial hypothesis and branch out at each issue.” (Rasiel, 1999, p.12).

“Don’t make the facts fit your solution.” (Rasiel, 1999, p.21). “How does the new information fit into your initial hypothesis? If it doesn’t, how might it change that hypothesis?” (Rasiel, 1999, p.23).

“Some problems you just can’t solve … solve them anyway.” (Rasiel, 1999, p.26).

“One final word about charts: Too many will bore your audience. Use the absolute minimum necessary to make your point.” (Rasiel, 1999, p.116).

“Never underestimate the value of a random fact.” (Rasiel, 1999, p.121).