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).
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