Page 24 - The McKinsey Mind

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2 The McKinsey Mind

The McKinsey problem-solving process begins with the use of
structured frameworks to generate fact-based hypotheses followed
by data gathering and analysis to prove or disprove the hypothesis.
A hypothesis greatly speeds up your quest for a solution by sketch-
ing out a road map for research and analyses that will guide your
work throughout the problem-solving process, all the way to the
presentation of your solution. Given the value of this methodology
to Firm alumni in their post-McKinsey careers, we begin with an
examination of ways to adapt that process to businesses beyond
the Firm.
In this chapter, we will show you how to apply structure to
your business problems and how to go about devising initial
hypotheses that will speed up your own decision making. Because
structure is the basis for the McKinsey problem-solving process,
let’s start there.

STRUCTURE

Although McKinsey & Company often uses the term fact-based
to describe it, the McKinsey problem-solving process begins not
with facts but with structure. Structure can refer to particular
problem-solving frameworks or more generally to defining the
boundaries of a problem and then breaking it down into its com-
ponent elements. With either approach, structure allows McKinsey
consultants to come rapidly to grips with the issues facing them
and enables them to form initial hypotheses about possible solu-
tions. The benefits of structure transfer readily beyond the confines
of the Firm, as our alumni have shown. The facts, as we will see,
come later.