{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

a. Week 1 McKinsey Connecting Employees in IBs

Third opportunities requiring collaboration across

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: explain to us why we should do one and not the other” is a comment we have heard. Third, opportunities requiring collaboration across business units (or silos) often seem impossible; we frequently hear remarks such as, “We’ve given up trying to work with these high-net-worth guys. They simply don’t trust us.” An effective organizational approach, which calls for banks to look in the mirror and simultaneously undergo a medical checkup, consists of these two elements: Quantitative methods. Networks among individuals can be mapped with a survey-driven or e-mail analysis, which is critical to establish the facts. Using the results of this network mapping, senior managers can learn which groups and individuals network effectively and why. The exercise, while often confirming anecdotal evidence, can also yield surprises—for example, by identifying people who are better at managing up than across or “orphans” who seem to have no networks at all. Interviews and free-form comments. By delving several layers inside the organization, interviews and free-form comments help to identify the specific opportunities and barriers in more detail. Qualitative input works most effectively when combined with quantitative methods. Highly talented professionals have deep convictions about the problems they face, as well as the potential solutions: in a survey we saw, one in three managing directors took the time to add detailed comments. This kind of process, which allows for confidential commentary, can give senior leaders powerful and colorful feedback best synthesized and prioritized using a phrase and text analysis. Linking the findings to economic opportunities is critical. Our experience of investment-banking settings suggests that linkages between distribution (product coverage) and products are often essential to improve performance. One organization, for example, was very successful at delivering a local product in each of the company’s native geographies but failed to capture business elsewhere (Exhibit 2). In yet another, the inability to cross-sell products in l...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online