Company has grown to global prominence by providing expert consulting services

Company has grown to global prominence by providing

This preview shows page 302 - 304 out of 818 pages.

& Company has grown to global prominence by providing expert consulting services and garnering results for companies in a wide range of industries and governments. Today, McKinsey has a revenue of $6 billion and employs almost 17,000 people worldwide, with more than 9,000 at the director level. “The firm is among the largest hirers of newly minted MBAs in the United States.”“America’s Largest Private Companies: #54 McKinsey & Co.,” Forbes , October 28, 2009, accessed February 9, 2011, - companies-09_McKinsey-Co_IPPW.html (emphasis added). McKinsey’s employees come from around the world, speaking over 120 languages and representing more than one hundred nationalities. What Does the Firm Do? As a management consultant firm, McKinsey is approached by its clients to analyze and solve complex problems. Its industry expertise ranges from media and entertainment to the automotive industry, chemicals, and manufacturing. Chapter 6 International Monetary System 296
Image of page 302
Functional expertise includes all aspects of running a business, including, finance, technology, sales, marketing, risk, and operations. McKinsey has its own Global Institute whose “independent investigations combine McKinsey’s microeconomic understanding of companies and industries with the rigor of leading macroeconomic thinking to derive perspectives on the global forces shaping business, government, and society.”“McKinsey Global Institute,” McKinsey & Company, accessed February 9, 2011, mgi . The Global Institute is one of McKinsey’s paths to assisting governments and global institutions with complex economic and business issues. “Twenty years of McKinsey Global Institute research shows that the mix of sectors within an economy explains very little of the difference in a country’s GDP growth rate. In other words, dynamism doesn’t turn on whether an economy has a large financial sector, or big manufacturers, or a semiconductor industry, but instead on whether the sectors are competitive or not. Instead of picking winners and funneling subsidies to them, countries must get the basics right. These include a solid rule of law, with patents and protections for intellectual property, enforceable contracts, and courts to resolve disputes; access to finance, particularly for startups; and an efficient physical and communications infrastructure.”James Manyika, Susan Lund, and Byron Auguste, “From the Ashes,” Newsweek , August 16, 2010, accessed February 9, 2011, - losing-them.html . Why Does the Firm Matter to International Business? This chapter discusses the international monetary system, the IMF and the World Bank. In learning about these critical parts of the global business environment, you may find yourself wondering how exactly these institutions and government-led monetary systems interact with the business world.
Image of page 303
Image of page 304

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture