Pulling back the veil of secrecy surrounding McKinsey

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CBS Sunday Morning

CBS Sunday Morning

Күн бұрын

Пікірлер: 356
@steveconn
@steveconn 2 жыл бұрын
Every corporation in America plays both sides of the fence (Starbucks promotes indigenous bean growth yet puts down unionization); why expect a consulting firm to be any less mercenary for a buck?
@lisac3398
@lisac3398 2 жыл бұрын
I liked the part about McKinsey's rigorous client selection process. Uh huh. It's the client who will pay them the most.
@JJJ_JJ1
@JJJ_JJ1 2 жыл бұрын
Well said. No different from bankers who are willing to finance both/all sides of a conflict. They’re intrinsically immune to consequences as they are merely intermediaries.
@claimjumpers29
@claimjumpers29 2 жыл бұрын
Even the government
@IntriguedLioness
@IntriguedLioness 2 жыл бұрын
If my career was a tree I have had many varied branches and from a biochem background to PR to working for an international consulting firm. I would say the latter was the most difficult to feel good about myself at the end of the day. The recent hurricane that decimated our southeast coast has reminded me of an insurance company that my firm consulted. In the same time period after a major hurricane years ago, when they were chipping away at any payment to people who have lost their homes.. my firm chartered a 747 to fly all of the bigwigs and their families to Europe for appreciation of the income brought in by these homeowners payments. While the homeowners were struggling and living in FEMA trailers these guys were partying it up in Europe. I walked soon after that.
@stevechance150
@stevechance150 2 жыл бұрын
I've worked for a consulting company. They have ZERO loyalty to their employees. I'll NEVER go back to working for a Consulting company!
@paranoidhumanoid
@paranoidhumanoid 2 жыл бұрын
OMG, that's awful! I guess the execs also brought a bunch of opioids with them to party it up in Europe at the expense of the hurricane survivors. 🤮
@IntriguedLioness
@IntriguedLioness 2 жыл бұрын
@@stevechance150 the work itself was never dull, but people are just numbers. Employees or not it's as if control was all that mattered. I've never looked back.
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Sell them all other countries stock market. Reset the equity stock market is much better
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Buy silver than crypto
@philipciaffa6643
@philipciaffa6643 2 жыл бұрын
An eight minute segment will not put a dent in their armor, but makes for a useful introduction to a fascinating hidden world. The average viewer hasn't even a clue.
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Sell them all other countries stock market. Reset the equity stock market is much better
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Buy silver than crypto
@ppumpkin3282
@ppumpkin3282 2 жыл бұрын
I've seen McKinsey from the inside, they are essentially an organization that builds influence and power - not so much expertise.
@SometimesPerplexed
@SometimesPerplexed 19 күн бұрын
An eight minute segment doesn’t mean much, but maybe if you read the book that the segment promotes, you’ll leave something.
@markburnham7512
@markburnham7512 2 жыл бұрын
Back in the 90s, the big corporation I worked at was McKinsey'd. It is a simple process really. They make the executives/managers ruthless, if they aren't already. Any individual that doesn't go along is out. This rule goes all the way to the top.
@macgp44
@macgp44 2 жыл бұрын
Hey, they're just making businesses more efficient and profitable. Are you a cOmMuNiSt? /s
@jmn1238
@jmn1238 2 жыл бұрын
Jeff Skilling and Mike Pearson is all I Need to know. I won’t invest in a company with anyone that worked there in the past.
@conor2439
@conor2439 2 жыл бұрын
McKinsey's business model is to assign a dozen $5000/day consultants to spend months writing an elaborate report recommending what the guy who hired them was going to do in the first place, so there will be shared blame when it all blows up.
@EnronnSierra
@EnronnSierra 2 жыл бұрын
When I tried to visualize the type of 'dudes' who worked at McKinsey, the two guys that use to work there immediately hit the nail on the head. 😁😁
@christopherthide6680
@christopherthide6680 2 жыл бұрын
The shocking revelation that consulting firms will do anything to make money. I am flabbergasted
@ronaldo19832
@ronaldo19832 2 жыл бұрын
Hahaha exactly
@saraxdouglas8577
@saraxdouglas8577 2 жыл бұрын
Sarcasm must be your superpower ❤️☮️🙏
@claimjumpers29
@claimjumpers29 2 жыл бұрын
Don't be so surprised
@arizonawut
@arizonawut 2 жыл бұрын
Lol
@10-minutebusinessinsights
@10-minutebusinessinsights 2 жыл бұрын
no, this is not true for all circumstances. I was with McKinsey for 4.5 years but didn't make partner. when I was an EM (engagement/project manager), the CEO fired me and my team because I told him his company didn't have the capabilities to be successful in venture capital. when I was an Associate Principal (just below partner), we stopped a project because we knew the client wouldn't implement our recommendations. in both situations, we walked away from money. true stories
@tommccabe1019
@tommccabe1019 2 жыл бұрын
If you pay a 600 million dollar settlement ? Your guilty.
@Priyanka.Aarya77
@Priyanka.Aarya77 2 жыл бұрын
You’re
@claimjumpers29
@claimjumpers29 2 жыл бұрын
Not always
@sfneurosurgeon
@sfneurosurgeon 2 жыл бұрын
I once worked for a management consulting firm that was hired by a company to fix the mess that the McKinsey ‘experts’ had created in their operations. McKinsey guys may be intelligent, but they weren’t practical.
@jennyh7729
@jennyh7729 2 жыл бұрын
100 percent. Me too. Often you need to hire another company like Deloitte Accenture etc... Or one that focuses in a specific industry or function say HR, operations ( lots of sub ops depending on industry) etc to implement the vision. Often there is conflict. Industries have been pulling back on lots of strategy since the heyday
@geobioexploring
@geobioexploring 2 жыл бұрын
The way you put it sounds like your management consulting firm is much better. I am curious if you guys could do some self reflection and write about cases where your firm messed up and the clients had to hire others to fix the mess. And why would you think these McKinsey guys are intelligent, yet impractical? Is it not impractical advice is also ineffective and not intelligent?
@the3idiots14
@the3idiots14 2 жыл бұрын
Are you a consultant or neurosurgeon now?
@jnesis555
@jnesis555 2 жыл бұрын
Intelligent, but not practical. The executives they position into companies they consult for are the same… smart people, but impractical.
@geobioexploring
@geobioexploring 2 жыл бұрын
Impractical leads to ineffectiveness, as consultants or advisors, how could that be intelligent or smart?
@kwasibruce
@kwasibruce 2 жыл бұрын
Around 2017, Ghana's Ministry of Finance employed McKinsey's services to consult for a 6-figure payment. That created an uproar in the country after the minority caucus of the country's parliamentary select committee on finance exposed the government's dealings with the said company, the firm left afterwards.
@lm_b5080
@lm_b5080 2 жыл бұрын
consulting firms destroyed Africa, no doubt about it. the horrors of the big 4 & big 3 across the continent is shocking
@bobfognozzle
@bobfognozzle 2 жыл бұрын
These fools were hired by ‘a large electric utility in Virginia’ they brought in a horde of twenty somethings who divided us into groups and encouraged us to talk about our work processes. My group was mostly engineers. We quickly realised that they had a pre-formed model of what the engineering department at an electric utility should look like and they only pretended to listen. They met with half of us in the morning and the other half in the afternoons. My friend would tell them a ‘fairy tale’ in the morning and I would hear it in a slightly modified form in the afternoon passed off as an ‘insight developed by the consultant’ It became comical how little these people actually knew about engineering. The end result was a re-organization and personal cuts which we suffered through for the next several years. The end result was a significant increase in the risk to the health and safety of the public.
@zoekenny3619
@zoekenny3619 2 жыл бұрын
And then all the losers who go and do MBAs to give their flailing careers a boost try to emulate all these silly games and end up looking like complete fools. My ex-boss was like that. We're talking about a small-sized (50+ employees) English as a Second Language college. We basically loathed each other and I think at one point he even tried to do some kind of 'performance analysis' routine possibly as a means to lay the groundwork to get rid of me (and maybe others). He was just a silly silly man who didn't know the limits of his own intelligence and charisma (lacking in both areas).
@Fat89789
@Fat89789 2 жыл бұрын
One of the reason my country’s power utility is struggling is because of these guys. Now it’s a shadow of its former self. The only good thing is at least they have been charged in court together with their stooges. All their shenanigans will be laid out in open court.
@leospaceman2976
@leospaceman2976 2 жыл бұрын
Sounds like consulting (and auditing) in a nutshell! Seriously, what’s someone fresh out of school going to know about an industry after being on the job for a few days/weeks. These are your consultants, not the partners who actually know things.
@jrzyboy76
@jrzyboy76 2 ай бұрын
They are at the large electric utility I work at right now.
@cestwhat1317
@cestwhat1317 2 жыл бұрын
Welcome to McKinsey. Check your principles at the door.
@Wendywonder123
@Wendywonder123 2 жыл бұрын
I still remember BCG told me at a school recruiting event that they only do strategy, not execution, and if their stake holder wants certain conclusion, they’ll do it. And when I went on to the corporate world, i uncovered a McKinsey study that my then employer hired them to do years ago which was useless because it’s just beautiful charts and numbers but unimplementable
@bencarter7839
@bencarter7839 2 жыл бұрын
Why should McKinsey be expected to disclose their client list or their fees? They're a private company.
@jimbojimbo6873
@jimbojimbo6873 2 жыл бұрын
Never ceases to amaze me how much people complain about consultants yet, with any exception, always use them
@MikeYoungeasytravel
@MikeYoungeasytravel 2 жыл бұрын
Some of the worst individuals I know worked at McKinsey!
@semipenguin
@semipenguin 2 жыл бұрын
There was a great episode of Fresh Air this week about McKinsey
@solitarybeag
@solitarybeag 2 жыл бұрын
Years ago, probably in the 80s, my dad, a WWII vet, quietly stated how he disliked the idea of globalization. I didn’t understand. He became an adult under Roosevelt & Eisenhower. Several years ago, I finally understood his concern. McKinsey seems to embody that concern.
@SandyWolf-
@SandyWolf- 2 жыл бұрын
Definitely 👍
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Buy silver than crypto
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Sell them all other countries stock market. Reset the equity stock market is much better
@bloatedsodium7301
@bloatedsodium7301 2 жыл бұрын
Im not a McKinsey employee, but I’d like to advise everyone to have a great day!
@khemkaslehrling3840
@khemkaslehrling3840 2 жыл бұрын
I've been on the receiving end of management initiated mckinsey engagements. The consultants were arrogant, elitist, over confident, lacked real world experience, and showed little interest in understanding our situation well enough to be capable of providing advise. We learned that often, mckinsey is brought in so the firm can say "we worked with mckinsey."
@claimjumpers29
@claimjumpers29 2 жыл бұрын
If that were true , they wouldn't be were there at!
@lisettegarcia
@lisettegarcia 2 жыл бұрын
McKinsey: dreading the book's release Boston Consulting: bitter nobody is writing a hit piece on them
@Jabberstax
@Jabberstax 2 жыл бұрын
Right! No such thing as bad publicity.
@DavidLongo22
@DavidLongo22 2 жыл бұрын
Many in corporate America are quite familiar with this, and some even refer to "The McKinsey Model", which is generating influence through placement. It's impossible to miss that so many corporate & political leaders come by way of McKinsey.
@ppumpkin3282
@ppumpkin3282 2 жыл бұрын
Once we got three former McKinsey partners on our board, the company went down hill. They brought in their consultants, they made changes to the board that anyone over 75 was out - and those tended to be the most knowledgeable with the most power, then they brought people in their network on the board and controlled the company. McKensey also has a special relationship with Price Waterhouse, so they brought in retired Pwc partners to the board, and hired PwC as auditors. McKinsey's essential expertise is power and influences. It's partners join all the country clubs and get to know company executives and work their way in. When they do consulting, they are the example of a consultant "who borrows your watch to tell you what time it is". They ask everyone in management for ideas and the cull the best ones and present them. They get management to make everyone fearful of not cooperating. In a way they are also like IBM in the old days. People would always hire IBM, because "no one ever got fired for hiring IBM". The real problem is management is not doing their job. If they need McKinsey to tell management what do to, then management should be fired.
@DavidLongo22
@DavidLongo22 2 жыл бұрын
@@ppumpkin3282 " If they need McKinsey to tell management what do to, then management should be fired." Standing ovation here. 👍👍👍👍👍
@evslone
@evslone 2 жыл бұрын
This country desperately needs more truth seekers like Rep. Katie Porter.
@Will-ge7ri
@Will-ge7ri 2 жыл бұрын
Absolute fox
@rbslammed6163
@rbslammed6163 2 жыл бұрын
We need voters who don’t continue making excuses to reward corrupt dishonest opportunistic sociopaths bc they think they are part of the team. We need to clean our own house (party) up before we start complaining about the other side. Joe Biden and Donald Trump are substantively the exact same person and if your reflex to this is to think that’s a crazy statement then the fact is you simply haven’t made the effort to look at who Joe Biden has always been, not who corporate press try to reinvent him as. Well their is one difference, Trump will never ever be able to do as much damage to our nation as Joe Biden has, their just isn’t enough time left.
@ak203
@ak203 2 жыл бұрын
You are confusing acting with substance.
@andybaldman
@andybaldman 2 жыл бұрын
“This book fundamentally misrepresents our company. But we can’t actually say how.” Typical corporate BS.
@harshilpatel9643
@harshilpatel9643 2 жыл бұрын
They are still working on the pyramid structure PowerPoint.
@ronjr831
@ronjr831 2 жыл бұрын
They fire workers and ruin their lives. What else ? Charge outrageous fees.
@dtylice
@dtylice 2 жыл бұрын
Go KATIE! Thank you!
@gurujr
@gurujr 2 жыл бұрын
I would think McKinsey for its own reputation wouldn't confirm or deny it consulted for the state of Mississippi.
@AlwaysOn702
@AlwaysOn702 2 жыл бұрын
A "bad" company? According to whom? If you don't like how their clients play, don't buy their products/services. If there were criminal acts, there's a judicial process for that. Otherwise this is all hearsay and book promotion.
@austinkautzer4196
@austinkautzer4196 2 жыл бұрын
Right?! Who are they to get to define who the bad actors are?
@ichsannurzaman6904
@ichsannurzaman6904 2 жыл бұрын
Consultant doesn't necessarily change the world. Sometimes, the leaders just need internal approval of their idea from external point of view so if there's a mess, the leaders will just say "It's the snobbish McKinsey consultant that lead us to this mess" While McKinsey can always switch on and off their claimants when they see fit. If good things happen from the client they worked with "You know, it was because my advice they did that," If things went messy "They were tough as a client. Really stubborn and when they implemented our recommendation, they didn't go all-in. That's why it leads to that,"
@Blashmack
@Blashmack Жыл бұрын
Exactly this! Corporate leaders need to have some insurance if their big idea turns out to be a dud. That is why you hire a consulting firm who basically understands they are paid to take the client's idea, maybe massage the numbers a bit and create a story (in a PowerPoint deck) which can be sold to other corporate leaders. In case the big idea doesn't deliver what is was supposed to deliver - "Well, it wasn't me, it was the consultants. Better hire a new consulting firm to fix this mess..." and the show goes on again.
@justjoan4010
@justjoan4010 2 жыл бұрын
Enough is never enough for these kind of people. Greed never disappoints.
@macgp44
@macgp44 2 жыл бұрын
Hey, they're just making businesses more efficient and profitable. Are you a cOmMuNiSt? /s
@JeffreyKahnartist
@JeffreyKahnartist 2 жыл бұрын
Another example of unbridled greed hiding behind the benevolent mask of capitalism.
@sebeckley
@sebeckley 2 жыл бұрын
McKinsey's new client selection guidelines are probably price increases to weed out cheapskates.
@jeanetteschock4744
@jeanetteschock4744 2 жыл бұрын
Katie Porter is the best
@maryannkochanski5777
@maryannkochanski5777 2 жыл бұрын
Very informative!❤
@susiesmith546
@susiesmith546 2 жыл бұрын
Need 10 "Katie Porters" to bring this Global giant down. What a discredit to all global students who work for this Consulting company.
@masewoods8337
@masewoods8337 2 жыл бұрын
In the 90's, I wrote the all the Fund to Fund software for Mckinsey. The systems where the McKinsey firm members had their wealth. I am the son of a NYC cab driver who went to state school. When their fancy private school kids could not monitor the billions of dollars, I did it. I knew I could never work for McKinsey, but I also knew I knew how to count and make better systems then the rich kids did. They used my systems for over a dozen years.
@thezfunk
@thezfunk 2 жыл бұрын
I was reading somewhere that Harvard students are 60% legacy students at this point. They no longer take the best and brightest, if they ever did. They take those with money, power, and influence. You don't have to be smart to be born into that.
@ronaldo19832
@ronaldo19832 2 жыл бұрын
That’s fascinating. What did you end doing after that if I may ask?
@masewoods8337
@masewoods8337 2 жыл бұрын
@@ronaldo19832 I designed systems my entire career. Wall st and communications. Now I combine payment processing with communications and am launching that now.
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Buy silver than crypto currency
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Sell them all other countries stock market. Reset the equity stock market is much better
@jg5875
@jg5875 2 жыл бұрын
McKinsey, Bain, and BCG are the leading consulting firms. Not very secretive on what they do though….thousands of former consultants are out there talking about what they did. No need to make ‘em sound like CIA paramilitary
@stuartAF888
@stuartAF888 2 жыл бұрын
“If you go to a 7-Eleven . . .” Also, “I’ve never once mentioned a client name.” Lol
@RaymondHng
@RaymondHng 2 жыл бұрын
The three consulting firms widely regarded as constituting the Big Three are McKinsey & Company, Bain & Company and Boston Consulting Group.
@Betts711
@Betts711 2 жыл бұрын
I’m in constant fear of all the evil in this world. It’s only going to lead to complete destruction of us all.
@revelationakagoldeneagle8045
@revelationakagoldeneagle8045 2 жыл бұрын
God wants us to be filled with hope and trust, not fear. He has given us hope through the promise that He can uphold us by His strength today. And He has also promised those who have faith in Jesus Christ for their salvation a life of eternity with Him. As such, we should not be partakers of the world's fears. Instead, we should "sanctify the Lord of hosts Himself; and let Him be" our fear (Isaiah 8:13). Throughout Scripture, the Lord admonished His people not to fear the world. Why? The answer is twofold: (1) the Lord was with them (Genesis 26:24) and (2) fear of the world yields bondage (Proverbs 29:25). This worldly bondage never originates with the Lord (Romans 8:15) for He has given Christians a sound mind (2 Timothy 1:7). We need not fear those who can destroy the body (Matthew 10:28); rather, we ought to say the Lord is our helper, and we will not fear what men will do unto us (Hebrews 13:6). Unlike worldly fear that creates alarm and anxiety, Godly fear is a source of peace, assurance and confidence. 🙏 💜 🙏 👑 👆 Look to the King of Kings The Lord of Lords Jesus Christ
@pierrejules8696
@pierrejules8696 2 жыл бұрын
Amen but someone who Dont have a clue as to what you mean but i. Whatever tou do , do it unto the lord amen. People were already headed in the last days Lord ill stay unattached from the things and people of this world
@HH-xs2gm
@HH-xs2gm 2 жыл бұрын
Its not exactly a secret.. Working as a management consultant, we simply put the most forefront research into new best practices for companies.
@TheSkinnychef1620
@TheSkinnychef1620 Жыл бұрын
To whose benefit? At whose ultimate expense?
@jeffpetrie7744
@jeffpetrie7744 2 жыл бұрын
So: These young, bright Americans are dedicating their lives to making Corporate America stronger?! The rich, richer?! JFC: NO THANK YOU. - There are far better ways to make a difference. These people will not be remembered for anything but their greed.
@harshilpatel9643
@harshilpatel9643 2 жыл бұрын
Lol 80% of Americans are described in your statement
@erpduocg2589
@erpduocg2589 2 жыл бұрын
Thx!
@aarononeal9830
@aarononeal9830 2 жыл бұрын
CBS News needs to talk about Ecosia they are a search engine that plants trees
@ericjusteennewton9226
@ericjusteennewton9226 2 жыл бұрын
The love of money is the root of all evil.
@juancarlosvaleron4850
@juancarlosvaleron4850 2 жыл бұрын
I think you will need to solve the demand side dynamics. I think there should be a probe to see if companies with high concentration of ex-Mckinsey people who recieve significantly higher share of business from Mckinsey currently and that should be choked off by the regulators to avoid conflict of interest issues. This is less a Mckinsey issue and more a regulator issue. Influence politics is extremely bad for a country priding itself on meritocracy and leads to group think.
@ramiyazje
@ramiyazje 2 жыл бұрын
I worked in a previous life with an international consulting firm in London, UK. The experience was so horrific that now, looking back, I feel like I was raped!
@tiffanyperson3474
@tiffanyperson3474 2 жыл бұрын
I worked at Valeant Pharmaceuticals when J. Michael Pearson, spawn of McKinsey with no prior pharma experience, was brought on as CEO. I was laid off with 80 others when he eliminated R&D in 2008-09 and being "financially raped" is exactly the phrase that came to mind when going thru that experience. You hit the nail on the head.
@lindadorman2869
@lindadorman2869 2 жыл бұрын
It's not the role of a consulting company to set moral imperatives for their clients. Consultants use data to develop strategic options for organizations/governments and it's up to clients to determine which path to follow, understanding both positive/negative impact. The best consultants present all possible outcomes without judgement or bias. I've worked with McKinsey - nothing they did was different except they have a broader scope and set of resources from which to draw.
@ronaldo19832
@ronaldo19832 2 жыл бұрын
Yep.
@harshilpatel9643
@harshilpatel9643 2 жыл бұрын
Your statement is correct unless it is in the scope/statement of work lol
@justusgreen8498
@justusgreen8498 2 жыл бұрын
yeah mckinsey is smart. “i’ll help you see the way but it’s up to you to go”
@tucker8071
@tucker8071 2 жыл бұрын
Yeah, they are just a catalyst. Having said that, it's a lie for them to pretend they have moral high ground in environmental issues and then some of their largest clients be oil companies.
@MarioMariaMario
@MarioMariaMario 2 жыл бұрын
People love to hate on shady firms, whether they're shady or not
@marla591
@marla591 2 жыл бұрын
CBS... DO DISNEY NEXT. I DARE YOU.
@kromyzal238
@kromyzal238 2 жыл бұрын
McKinsey was the consulting company who advised health insurers to start declining many claims to increase profits.
@zoekenny3619
@zoekenny3619 2 жыл бұрын
That sounds about right.
@billh.1940
@billh.1940 2 жыл бұрын
And they paid for advice they already knew? The insurance industry is based on pay in, never pay out! If they could figure out how to keep you alive forever, we would live forever, then no payout for life insurance!
@tobechukwuolumba7337
@tobechukwuolumba7337 2 жыл бұрын
I didn't work at McKinsey & Co., but I work for a nonprofit as an accounting assistant.
@luciboras
@luciboras 2 жыл бұрын
The larger the corporations the unlimited resources at their disposals and able to manipulate the public, markets and government candidates. Should we remain small government or better government in regulating bad corporates behavior. We all co-exist together and play certain roll in society as the public, businesses and government, however when one party behave badly, then it should be removed. Corporations and government run by the people with flawed behavior and personal greed, that is one reasons there need to be laws for penalties and punishments When public citizens behave badly they are penalized and punished, why hasn't corporations be held to the same standard requirements.
@Preppie-thirty
@Preppie-thirty 2 жыл бұрын
They are protected rather than punished because a conflict of interest exists btw government, said company and Mckinsey ie corruption.
@pamelamays4186
@pamelamays4186 2 жыл бұрын
Very clever how CBS Sunday Morning manages to slide in a plug for their parent company during each episode.
@richmoves
@richmoves 2 жыл бұрын
I wouldn't say the company mention here is a plug.
@EastSide-qc5oy
@EastSide-qc5oy 2 жыл бұрын
WTF? Are you smoking something? Um, that was not a plug. That was quite obviously a disclosure that in the past their parent company had hired the subject of this piece. It’s considered standard journalistic practice to disclose such past associations.
@georgeklimes7604
@georgeklimes7604 2 жыл бұрын
Wrong. That is basic journalistic ethics - disclosure that you had a relationship with them.
@ljacobs357
@ljacobs357 2 жыл бұрын
Worked with them in the 80’s on a few transportation projects. Intense experience, but you learn a lot from them. For employees, it is about moving up the corporate ladder. They don’t discriminate with their client base.
@held2157
@held2157 Жыл бұрын
Disagree. See Best Buy controversy
@mm7846
@mm7846 2 жыл бұрын
This is the same approaches for all international consulting firms
@alexbastani9150
@alexbastani9150 2 жыл бұрын
Wait, no reference to the fact that the current Secretary of Transportation who is on the short list to be the next Democratic nominee for President worked for McKinsey? And before the comments come for me, not I am not a MAGA and would gladly second any motion to replace Katie Porter in the aforementioned short list over Wall Street Pete.
@davidsessera1337
@davidsessera1337 2 жыл бұрын
Thanks for the info. Somehow I missed the news that Pete worked at the firm for 2 1/2 years. He said he believes his work did not result in any loss of jobs, nor people losing their insurance, but led companies to increase efficiency and reduce overhead expenditures. Comforting to know.
@georgeklimes7604
@georgeklimes7604 2 жыл бұрын
What relevance does that give given he has no position relating to any of what the story was about?
@EscapedTexan
@EscapedTexan 2 жыл бұрын
Good piece, I'd never heard of McKinsey before, at least not to my recollection. Nefarious in some cases, indeed.
@lisawood2780
@lisawood2780 2 жыл бұрын
They seem to have way too much power.
@tccragun
@tccragun 2 жыл бұрын
And, I would add, influence.
@emich28
@emich28 2 жыл бұрын
So they could have been working for both WCW and WWE at the same time.
@tommccabe1019
@tommccabe1019 2 жыл бұрын
I wish the reporters would doggedly pursue stories that matter to the rest of us!
@susannpatton2893
@susannpatton2893 2 жыл бұрын
they aren't allowed to be investigative reporters anymore, they find the wrong that the big guys don't want you to know. watch the young turks
@stevechance150
@stevechance150 2 жыл бұрын
I've worked for a consulting company. They have ZERO loyalty to their employees. I'll NEVER go back to working for a Consulting company!
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Buy silver than crypto currency
@godanddevil.5331
@godanddevil.5331 2 жыл бұрын
Sell them all other countries stock market. Reset the equity stock market is much better
@georgeklimes7604
@georgeklimes7604 2 жыл бұрын
This story is one of them.
@TYUAN2009
@TYUAN2009 2 жыл бұрын
These consulting firms are overhyped- especially in today's environment. They are often wrong in their analysis.
@harshilpatel9643
@harshilpatel9643 2 жыл бұрын
True but lots of reasons to why they maybe wrong and companies still find use for them.
@GENIUSA1A
@GENIUSA1A 2 жыл бұрын
Ethics always seems to go out the door for companies when money is involved
@shileno19
@shileno19 2 жыл бұрын
"they steal your watch and tell you the time"
@resolute1306
@resolute1306 2 жыл бұрын
Their advice is not worth it. Never came across a McKinsey consultant who truly knew their stuff. But they are good salespeople and know how to talk.
@Fatmanstan606
@Fatmanstan606 2 жыл бұрын
Consultants, investment bankers and PR firms ruined/ing this world, I say this as a former consultant and banker
@Flywithdean
@Flywithdean 2 жыл бұрын
That firm is insane - US Banks VC of consumer lending came from there; Sketchy practices
@STELLASCUTENESS
@STELLASCUTENESS 2 жыл бұрын
You say, “to be far” and then state something utterly unfair.
@manonamission2000
@manonamission2000 2 жыл бұрын
"Outsourcing"... nuff said
@RaviWadan
@RaviWadan 2 жыл бұрын
This story only talks about the negative impact McKinsey has had. The story is too one sided. You could literally find something negative to talk about with any major corporation on planet earth.
@paulff3
@paulff3 Жыл бұрын
They were just in my company and now people are getting laid off left and right.
@ZaddyOG
@ZaddyOG 2 жыл бұрын
Porter is the one that needs to be President.
@ErichBSmith
@ErichBSmith 3 ай бұрын
I am tired of do-gooders - whether they are from the right or left - run a purity test on such things. Call me morally ambiguous, but I don't have a problem with big companies representing clients with different agendas. It's called facilitating the free-flow of information in the marketplace of ideas. It just so happens that it pays very well.
@jairuscheng4507
@jairuscheng4507 2 жыл бұрын
Lol this is funny. It’s not a prestigious job once you get in
@fezario
@fezario 2 жыл бұрын
The analysis in this report is not MECE. We suggest you try to be more structured.
@TC-lk2ev
@TC-lk2ev 2 жыл бұрын
lmao.
@evilish888
@evilish888 2 жыл бұрын
If I can't find the answers from consulting (asking) the personal within my own company then I hired the wrong people
@zeldasmith6154
@zeldasmith6154 2 жыл бұрын
Personal?
@drac124
@drac124 2 жыл бұрын
An external view is usually very useful.
@harshilpatel9643
@harshilpatel9643 2 жыл бұрын
AlixPartners is having a field day with this scrutiny of McKinsey
@SandyWolf-
@SandyWolf- 2 жыл бұрын
Sounds like a dangerous company!
@davidpowellseattle
@davidpowellseattle 2 жыл бұрын
Wonder what kind of work they do for Koch Industries? Wait.....I'm not sure I want to know.
@silverchairsg
@silverchairsg 2 жыл бұрын
Wait, McKinsey's advice actually worked for the opioid companies? Wow.
@taubevictor8989
@taubevictor8989 2 жыл бұрын
GET THEM OUT OF GOVERNMENT !!!
@thomaswilke6312
@thomaswilke6312 2 жыл бұрын
Maybe there should be a movie about this company starring Saoirse Ronan and Greta Gerwig as undercover McKinsey consultants
@gurujr
@gurujr 2 жыл бұрын
How about bringing back Owen Wilson and Vince Vaughn.
@swampy1234
@swampy1234 2 жыл бұрын
Is this supposed to be an advert for them, or an expose?
@striker44
@striker44 2 жыл бұрын
Consulting companies are the bane of society.
@ctbt1832
@ctbt1832 2 жыл бұрын
It’s time for the reporter to retire
@ZaddyOG
@ZaddyOG 2 жыл бұрын
One billion dollars from taxpayers to change the laws and coverup profits. Couldn’t do it alone.
@Omar-sq6zz
@Omar-sq6zz Жыл бұрын
Would not be a breach of confidentiality!!!
@jadenaxi5796
@jadenaxi5796 2 жыл бұрын
What the reporters investigated had been revealed by others. See Wikipedia.
@andrewholt2425
@andrewholt2425 2 жыл бұрын
There telling the truth. They don't do the best thing for people, they serve the bottom line, without remorse, without emotional investment. Most people worship money, and love the opinion of man...
@SuperLooneyrooney
@SuperLooneyrooney 2 жыл бұрын
I'm a small, local farmer who makes a living providing food to these snotty nose kids. I would love for them to "consult" me on how to transform my farm from a one person operation to a 0 person farm so i can sit back and watch them die off from starvation when the SHTF and i sell/barter my goods to only those that i want to. Most of these kids couldn't start a campfire if their lives depended on it.
@williamyelton2227
@williamyelton2227 2 жыл бұрын
Wow - actual hard hitting journalist going after the powerful. Kudos CBS
@prateeksarin3555
@prateeksarin3555 2 жыл бұрын
It’s the guys who make the firm they are really really smart people IIT
@realdeal139
@realdeal139 2 жыл бұрын
Mckinsey does not pass the smell test.
@Melissa0774
@Melissa0774 2 жыл бұрын
Before I clicked on this video I thought it was going to be about the sex researcher.
@dbsk06
@dbsk06 Жыл бұрын
I think this story has a sensationalist element. It’s not a secretive company … it’s just a consulting company that solves business problems and of course it won’t disclose its clients just as a bank doesn’t disclose who it’s advising and on what until the deal is announced
@antonomaseapophasis5142
@antonomaseapophasis5142 2 жыл бұрын
Include the French government I the list of clients. Needless to say, the French were not at all pleased, and it is not clear that McKinsey really understood the project they were charging astronomical sums to work on.
@Sailingbill1
@Sailingbill1 2 жыл бұрын
Ok sorry. Granted McKinsey is quite arrogant and is the most prestigious management consulting firm in the world, BUT if they are working for Purdue and the FDA at the same time it is the FDA's responsibility to do their own conflict of interest due diligence and have in their services agreements with firms that state FDA conflict policy. Is McKinsey to be blamed because they worked with both Purdue and the FDA and now the public shaming committee is calling foul....? The FDA should be held accountable, not McKinsey. Management Consultants are not held to the same ethical standards as CPA's or lawyers, but to now twist the story to put McKinsey on the Shaming Block is just out of line. As a long fan of Sunday Morning I have to say this was really a disappointing waste of 8:26 minutes. Should we also look into the bowels of the Media and the twisted and misguided influence on the public.....? Very hypocritical I must say. Oh, didnt the government give the Slacker family a pass when it finally settled the Opioide lawsuit......? Perhaps the Madam Congresswoman should work to ensure the government is working at the highest standard.....
@billybob2372
@billybob2372 2 жыл бұрын
McKinsey didn't do a good job advising how to grow green lawns
@gnmschulze
@gnmschulze 2 жыл бұрын
I was working with people from the big 4 and McKinsey.....they were not really the brightest candles on the cake....there is more sound to the names than substance....
@Will-ge7ri
@Will-ge7ri 2 жыл бұрын
What is this a story? They’re a consulting firm. That’s their job.
@kmtaylor88
@kmtaylor88 Жыл бұрын
Who wrote the bad description?!
@marryellenmonahan5585
@marryellenmonahan5585 2 жыл бұрын
Sounds like an evil list...
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