Page 104 - The McKinsey Mind

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Gathering the Data 79

At McKinsey, there is an ethic of response whereby if any-
one—even the most junior consultant—makes a call to a col-
league anywhere around the world, the call will be returned
within 24 hours. This helps immensely with data collection
as well as for general guidance. This is not the case in other
organizations, although I am trying to develop that in my

company.
TEAMFLY
Acquire external knowledge. Knowledge can be generated
either internally or externally. Internal knowledge creation involves
disseminating information to employees through discussions or

documents, and it is a vital part of any KM strategy. External
knowledge matters, too. As discussed earlier, McKinsey invests
heavily in order to maintain access to the latest thinking inside and
outside of the Firm. Every project starts with a search of internal
documents as well as the identification of external publications or
industry experts who might have something to contribute.

The same holds true at other organizations. Jack Welch doesn’t
hesitate to search for the best ideas from any external organiza-
tion and bring them to GE. Sometimes outside experts may actu-
ally be consulting firms, as described by Jim Bennett, who was the
chairman of retail banking at Key Corp. and is now president and
CEO of EmployOn:

I always reach for the best people I can. When you are solv-
ing a tough business problem, you need access to the best,
whether they are inside or outside. I look for first-class
resources and have used McKinsey, Deloitte, and others.

This can be kind of a foreign notion to consultant-averse or
outsider-averse companies.
In searching for the best outside advice, we recommend that

you seek out true experts who come with multiple recommenda-

®
Team-Fly