The McKinsey Quarterly

2011

• June 2011 

  To centralize or not to centralize?

  It’s a hard call made harder by power struggles. CEOs can force a more thoughtful debate by asking three critical questions.

• May 2011 

  Beyond expats: Better managers for emerging markets

  The CEO of Manpower argues that the era of the Western expatriate manager is ending. It’s time for a local approach.

• April 2011 

  Sparking creativity in teams: An executive’s guide

  Senior managers can apply practical insights from neuroscience to make themselves—and their teams—more creative.

• March 2011 

  Playing war games to win

  They can be a powerful business tool—but only if you get the design right.

• March 2011 

  Seven steps to better brainstorming

  Most attempts at brainstorming are doomed. To generate better ideas—and boost the odds that your organization will act on them—start by asking better questions.

• February 2011 

  Dan Ariely on irrationality in the workplace

  The behavioral economist explains why executives need to recognize—and embrace—the irrational forces that affect themselves and their employees.

  Includes:

• February 2011 

  How CFOs can keep strategic decisions on track

  The finance chief is often well placed to guard against common decision-making biases.

• January 2011 

  Creating more value with corporate strategy: McKinsey Global Survey results

  Few companies create strategies that deliver more value than the sum of their business unit parts, but those that do also excel at moving resources and removing barriers.

• January 2011 

  Putting strategies to the test: McKinsey Global Survey results

  Creating a winning strategy is a struggle for most companies; some seem content just to play along. They may not be asking themselves the right questions.

2010

• November 2010 

  Global forces shaping the future of business and society

  McKinsey’s managing director, Dominic Barton, and other partners discuss global trends and the ways companies can act on them.

  Includes:

• November 2010 

  McKinsey conversations with global leaders: Jim Owens of Caterpillar

  Caterpillar’s former chairman and CEO reflects on an unconventional career path, organizational change, and how and where to stay competitive over the long term.

  Includes:

• November 2010 

  The CEO’s guide to corporate finance

  Four principles can help you make great financial decisions—even when the CFO’s not in the room.

  Includes:

• September 2010 

  Boosting the productivity of knowledge workers

  The key is identifying and addressing the barriers workers face in their daily interactions.

• August 2010 

  The next environmental issue for business: McKinsey Global Survey results

  As with climate change a few years ago, executives are now beginning to recognize the importance of biodiversity for their future strategies. Many are also discovering business opportunities, not just threats.

• July 2010 

  Applying global trends: A look at China’s auto industry

  Strategists can challenge conventional wisdom and better prepare for uncertainty by analyzing the complex and not-so-obvious ways global trends interact in their industries.

• June 2010 

  When companies underestimate low-cost rivals

  Attackers are threatening premium players in market after market—and not only at the low end.

• May 2010 

  McKinsey conversations with global leaders: David Rubenstein of The Carlyle Group

  A founding managing director of The Carlyle Group reflects on the future of the private-equity industry, China’s role in a rebalancing global economy, and the leadership gap between the public and private sectors.

  Includes:

• April 2010 

  McKinsey conversations with global leaders: Andrew Gould of Schlumberger

  Schlumberger’s CEO reflects on the future of oil, the importance of investing in R&D, and the lessons he’s learned about leading a borderless company.

  Includes:

• March 2010 

  How companies manage sustainability: McKinsey Global Survey results

  Most companies are not actively managing sustainability, even though executives think it’s important to a variety of corporate activities. Those that do are reaping benefits for themselves and for society.

• March 2010 

  How we do it: Three executives reflect on strategic decision making

  Sir Martin Sorrell, Randy Komisar, and Anne Mulcahy describe how they balance the importance of timely action with the need for thorough, unbiased decision processes.

• March 2010 

  The case for behavioral strategy

  Left unchecked, subconscious biases will undermine strategic decision making. Here’s how to counter them and improve corporate performance.

  Includes:

• January 2010 

  Rethinking how companies address social issues: McKinsey Global Survey results

  Many companies committed to addressing social issues in developing markets are overlooking a strategy for boosting their social impact—and perhaps their profits—a McKinsey survey suggests.

2009

• December 2009 

  Enduring Ideas: The three horizons of growth

  In this interactive presentation—one in a series of multimedia frameworks—Steve Coley, a director emeritus in McKinsey’s Chicago office, describes the three horizons framework. Based on research into how companies sustain growth, this approach illustrates how to manage for current performance while maximizing future opportunities for growth.

  Includes:

• December 2009 

  Making the most of corporate social responsibility

  For companies that see CSR as an opportunity to strengthen the business, the big challenge is execution. Smart partnering can provide a practical way forward.

• December 2009 

  The business opportunity in water conservation

  For many companies, water efficiency is a long-term requirement for staying in business, a big commercial opportunity, or both.

  Includes:

• November 2009 

  Tackling sociopolitical issues in hard times: McKinsey Global Survey results

  The financial crisis has increased the public’s expectations of business’s role in society. Most companies have maintained or increased their efforts to address sociopolitical issues, and many have already derived better-than-expected benefits from doing so.

• November 2009 

  The use and abuse of scenarios

  Although it is surprisingly hard to create good ones, they help you ask the right questions and prepare for the unexpected. That is hugely valuable.

• October 2009 

  Building private-sector diplomacy

  Public-relations expert Richard Edelman explores the new landscape of corporate reputation and trust.

  Includes:

• October 2009 

  Enduring Ideas: Portfolio of initiatives

  The portfolio-of-initiatives framework offers a way to develop strategy in a more fluid, less predictable environment.

  Includes:

• October 2009 

  Risk: Seeing around the corners

  Risk-assessment processes typically expose only the most direct threats facing a company and neglect indirect ones that can have an equal or greater impact.

• October 2009 

  The CEO as diplomat: An interview with Richard Haass

  The Council on Foreign Relations’ president discusses new ties between government and business.

  Includes:

• June 2009 

  Rebuilding corporate reputations

  A perfect storm has hit the standing of big business. Companies must step up their reputation-management efforts in response.

• February 2009 

  Getting into your competitor’s head

  To anticipate the moves of your rivals, you must understand how their strategists and decision makers think.

• January 2009 

  Mapping decline and recovery across sectors

  Different sectors enter and emerge from downturns at different times. A look at past recessions suggests how some industries may fare.

  Includes:

2008

• December 2008 

  Banking on carbon assets

  A new regulatory environment for greenhouse gas emissions could hold good news for banks.

• December 2008 

  Managing regulation in a new era

  As concern over global problems mounts, executives and regulators have everything to gain from building relationships based on trust, and developing solutions that benefit a wide range of stakeholders.

• September 2008 

  Managing IT in a downturn: Beyond cost cutting

  Looking to slash your IT investments? Consider the possibility that targeted ones might generate savings and revenues exceeding what you could save through cost cutting.

• September 2008 

  Warming to the opportunities of climate change

  Businesses are beginning to embrace the economics of carbon reduction. Here's how.

  Includes:

• May 2008 

  How chief strategy officers think about their role: A roundtable

  Chief strategy officers from several high-profile companies discuss the complexities and challenges of the role.

• April 2008 

  Business strategies for climate change

  Huge value is at stake. The winners will be companies that reposition themselves to seize the opportunities of a low-carbon future.

• April 2008 

  The promise of prediction markets: A roundtable

  Although they draw together widely dispersed information, prediction markets face organizational and legal challenges.

• March 2008 

  Dissecting global trends: An example from Italy

  Executives should examine the impact of trends on subindustries, segments, categories, and micromarkets before placing their bets.

2007

• November 2007 

  Act global, think local

  When companies globalize, executives must anticipate the reaction at home. Norsk Hydro President and CEO Eivind Reiten explains why.

  Includes:

• November 2007 

  Assessing the impact of societal issues: A McKinsey Global Survey

  Executives place the environment and climate change in a class of their own when evaluating the impact of societal issues on shareholder value. They also indicate that companies are getting a little better at managing sociopolitical issues and understanding what the public wants.

• October 2007 

  CEOs on strategy and social issues

  Business leaders are now more inclined to incorporate society’s expectations into their core strategies but face many challenges when they do.

• August 2007 

  How to improve strategic planning

  It can be a frustrating exercise, but there are ways to increase its value.

  Includes:

• June 2007 

  How companies spend their money: A McKinsey Global Survey

  Companies strive for effective resource allocation, but despite the involvement of senior executives and the best of intentions the end results are often decidedly mixed.

• May 2007 

  The granularity of growth

  A fine-grained approach to growth is essential for making the right choices about where to compete.

  Includes:

• May 2007 

  The trust gap between consumers and corporations

  Sixty-eight percent of executives say that large corporations make a generally or somewhat positive contribution to the public good. Yet only 48 percent of consumers agree.

• May 2007 

  What consumers expect from companies

  Companies must gain a better understanding of consumer perceptions and expectations about corporate social responsibility if they are to win the public's trust.

• April 2007 

  Preparing for the next downturn

  In a buoyant economy, the next recession seems far off. But managers who prepare during good times can improve their companies' chances to endure—or thrive in—the eventual downturn.

  Includes:

• April 2007 

  What society expects from business

  Ian Davis, McKinsey’s managing director, explains why building social issues into corporate strategy is a key challenge for business leaders.

  Includes:

• February 2007 

  The halo effect, and other managerial delusions

  Companies cannot achieve superior and lasting business performance simply by following a specific set of steps.

• February 2007 

  The new metrics of corporate performance: Profit per employee

  Most measurements of performance are geared to the needs of 20th-century manufacturing companies. Times have changed. Metrics must change as well.

• January 2007 

  CEOs as public leaders: A McKinsey Survey

  US business executives say they should play a much greater role in shaping debate about sociopolitical issues and leading efforts to effect change.

2006

• November 2006 

  Building the global bank: An interview with Jamie Dimon

  The CEO of JP Morgan Chase discusses postmerger integration, risk, and leadership.

• October 2006 

  The new rules of corporate credibility

  Dr. Hans-Joachim Körber, former CEO of METRO Group, discusses the importance of gaining public trust at a time when big businesses are under increased scrutiny.

  Includes:

• August 2006 

  Going from global trends to corporate strategy

  Will your business catch them before they catch it?

• May 2006 

  "Soft" leadership in business

  To address business and sociopolitical issues, CEOs will have to draw on a different set of skills.

• May 2006 

  When social issues become strategic

  Executives ignore sociopolitical debates at their own peril.

  Includes:

• April 2006 

  An executive take on the top business trends : A McKinsey Global Survey

  Executives report an accelerating pace of change in an increasingly competitive business environment, driven by knowledge and information trends and the forces of globalization.

• February 2006 

  The right service strategies for product companies

  As products evolve into commodities, services become more important. But companies that play this new game must understand its rules.

• January 2006 

  Ten trends to watch in 2006

  Macroeconomic factors, environmental and social issues, and business and industry developments will all profoundly shape the corporate landscape in the coming years.

• January 2006 

  The McKinsey Global Survey of Business Executives: Business and Society

  Executives say they face a host of worries about society's expectations of their companies, which can—and must—do better.

2005

• November 2005 

  The role of regulation in strategy

  Companies have everything to gain from linking them.

• November 2005 

  What's next for Tata Group: An interview with its chairman

  Ratan Tata explains how the company is expanding abroad while cultivating an emerging mass market at home.

• September 2005 

  Public-private partnerships as a development engine

  Business and government should be partners, not rivals—let alone enemies.

• February 2005 

  Extreme competition

  The forces of globalization, technology, and economic liberalization are combining to make life harder than ever for established companies.

• February 2005 

  Leadership as the starting point of strategy

  Even the best strategy can fail if a corporation doesn’t have a cadre of leaders with the right capabilities at the right levels of the organization.

2002

• November 2002 

  Controversy Incorporated

  Companies that address the social concerns surrounding contentious markets may well find the effort rewarding.

• February 2002 

  Learning from high-tech deals

  M&A deals are more likely to destroy value than to create it. But when they are executed strategically and often, as part of the routine of running a business, the odds favor success.

• February 2002 

  The other side of outsourcing

  Despite the difficulties, there is money to be made running routine operations for other companies.

2001

• May 2001 

  New tools for negotiators

  A few simple ideas make it possible to construct powerful strategies for even the most complex deals.

• February 2001 

  Creating a knowledge culture

  Knowledge is now the lifeblood of all companies. Don’t confuse it with information.

2000

• June 2000 

  Patching: Restitching business portfolios in dynamic markets

  In a world of shifting and dynamic markets, managers must be able to capture opportunities faster than their competition does. Those who patch well can create multibusiness companies that outperform even the most efficient capital markets.

• June 2000 

  The microeconomics of industry supply

  Understanding your industry's cost structure can give you a powerful competitive advantage. And if you happen to be in a manufacturing business, it can dramatically improve your capacity and production decisions.

1999

• August 1999 

  The curse of too much capital: Building businesses in large corporations

  Large corporations often finance their fledgling businesses too generously. They should take a hint from venture capitalists.

• May 1999 

  Strategic thinking on the front lines

  Being an insider in your local market is no longer enough. Do you have the skills to specialize or the market cap to acquire?

• February 1999 

  Brilliant strategy, but can you execute?

  The best strategy for any company is a strategy it can implement. The experience of two industries—energy and pharmaceuticals—illustrates a new way to assess the fit between corporate strategy and corporate strengths.

1998

• May 1998 

  Can big companies become successful venture capitalists?

  Maybe, but first they need to understand what makes the model work. Four good reasons to try…pick only one.

1996

• November 1996 

  Prospering through relationships in Asia

  In this part of the world, relationships are the art of strategy. Can Westerners join the “investment club”?

• May 1996 

  Why are we bungling process innovation?

  First, look to customer satisfaction rather than competitors’ costs. Develop new processes as you do products, by testing market response. The reengineering trap.

1994

• February 1994 

  Lessons of the Japanese mavericks

  The “Western” methods of maverick Japanese companies now succeed where traditional “insider” methods fail.