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HBR On Strategy
How McKinsey Resisted Disruption
Jan 1, 2025
Clayton Christensen, the late Harvard Business School professor known for his disruptive innovation theory, and Dominic Barton, former McKinsey managing partner, delve into how McKinsey adapted to industry-wide disruption. They discuss the importance of flexibility and efficiency in consulting strategies. The conversation highlights the challenges faced by traditional firms against tech-driven market changes and illustrates the evolution of McKinsey Solutions. Their insights shed light on the urgency for consulting firms to innovate and collaborate with academia for sustained success.
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Quick takeaways
- McKinsey's response to disruption involved a strategic shift towards efficiency and flexibility to meet evolving client demands.
- The podcast highlights the need for traditional consulting firms to continually innovate and adapt to maintain competitiveness against emerging market players.
Deep dives
Understanding Disruption in Consulting
Disruption in management consulting is characterized by companies that focus on smaller, less attractive clients being overlooked by larger firms pursuing bigger profit opportunities. As established firms seek larger clients with significant problems, they inadvertently neglect smaller projects that can be equally valuable. This creates space for new entrants to capture the lower end of the market, gradually moving up to compete for larger projects. The key takeaway is that disruption often arises from unexpected market segments, compelling traditional firms to stay vigilant against competitors that start by serving overlooked niches.
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Discover
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