466: Former McKinsey partner on How to Turn a Profit and Improve Lives in the World's Toughest Places
Jul 17, 2024
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Former McKinsey partner Viva Ona Bartkus discusses leveraging business in frontline regions to create stability and opportunity. Topics include investing in underserved areas, industries for early investment, business impact in post-conflict Colombia, and lessons from failed projects.
Businesses entering frontline regions can create stability and economic opportunities.
Clients value proactive problem-solving, teamwork, and exceptional work in management consulting careers.
Deep dives
Viva Ona-Balkos' Journey to McKinsey & Company
Viva Ona-Balkos shares her background growing up in rural Indiana and the journey that led her to McKinsey & Company. Despite consulting not being initially on her career path, positive feedback from former graduate school colleagues led her to reconsider management consulting as a career possibility. She highlights the challenges faced as a female and non-MBA partner in the Chicago office, reflecting on the unique experiences and lessons learned.
Navigating Different Levels in Management Consulting
Viva emphasizes the importance of making a strong first impression in management consulting and maintaining a reputation of consistently delivering exceptional work. She underscores the significance of proactive problem-solving, teamwork, and client service in building a successful career at McKinsey & Company. By prioritizing client interests and fostering a culture of dedication and responsibility, consultants can establish themselves as reliable and valuable team members.
Transition from McKinsey to Academic Pursuits
After a successful tenure at McKinsey, Viva discusses her decision to transition back to academia, driven by her passion for teaching and mental exploration. She explains the process of returning to her roots and first love, focusing on mentoring, ongoing scholarship, and research at the University of Notre Dame. Viva's transition was met with support and celebration, emphasizing the importance of following one's authentic path.
Empowering Frontline Business in Challenging Environments
Viva delves into the concept of bringing business to frontline environments, highlighting the vast untapped potential in low-income and middle-income countries. She advocates for innovative approaches in investment strategies tailored to address the unique challenges present in these regions. By fostering non-traditional business partnerships and prioritizing stability and conflict prevention, businesses can drive economic development and create lasting positive impacts in challenging contexts.
Welcome to Strategy Skills episode 466, featuring an interview with the coauthor of Business on the Edge: How to Turn a Profit and Improve Lives in the World’s Toughest Places, Viva Ona Bartkus. In this book, they argue that by entering markets in the world’s frontline regions—areas stuck in cycles of violence and extreme poverty—businesses can actually create stability and expand opportunity for communities and corporations alike. Business on the Edge shows how businesses can reduce risks, cut costs, and increase profits, all while creating economic opportunities that transform communities.
Viva Ona Bartkus is Paul E. Purcell Associate Professor at the University of Notre Dame’s Mendoza College of Business. She is a former partner at McKinsey & Company and the founder of the revolutionary course Business on the Frontlines.