The Firm

The Story of McKinsey and Its Secret Influence on American Business

By: Duff McDonald

Narrated by: Tom Weiner

A behind-the-scenes, revelatory history of McKinsey & Company, America's most influential and controversial business consulting firm, told by one of the nation's leading financial journalists.

Founded in 1926, McKinsey & Company has become one of the world's leading management consulting firms, helping to invent American business and shaping its course for decades. Ushering in the age of American industrial dominance, McKinsey remapped the power structure in the White House, helped create the bar code, revolutionized business schools, and introduced the idea of budgeting as a management tool.

McKinsey consultants have created the corporate behaviors that shaped our world - reinventing our idea of American capitalism and exporting it across the globe.

At the same time, however, McKinsey can also be associated with a list of striking failures. Its consultants were on the scene when General Motors drove itself into the ground, and they played a critical role in building the bomb known as Enron. Yet they are rarely blamed for the failures - at least not publicly.

McKinsey employees are trusted and distrusted , loved and despised. And far from prying eyes, they are doing behind-the-scenes work for the most powerful people in the world. In The Firm, star financial journalist Duff McDonald uncovers how these high-powered, high-priced business savants have ushered in waves of structural, financial, and technological shifts to the biggest and best American organizations. With unrivaled access to company documents and current and former employees, McDonald reveals the inner workings of what just might be the most influential private organization in America.

©2013 Duff McDonald (P)2013 Blackstone Audio, Inc.

Must read for all consultants

This book was an amazing history of not just McKinsey but the consulting industry. It made me understand my work at another form that was named in the book much better. At least the theory of what they’re trying to accomplish or emulate.

pretty fair, a little biased.

The author presents a few fair and balanced point although I believe the overall message can still be seen as biased. While not overbearingly in support of Mckinsey, the book has an ever so slight pro-Mckinsey tint. Definitely a must read for any consultant or those interested.

Good history that focuses on the politics of the firm

I liked the book. Don’t expect it to have loads of scientific research like that of Good to Great. It outlines the history of the firm and helps align your thinking on the firm’s accomplishments and future.

The McKinsey Scam Explained

You bring in some dumb as dog-shit consultants that have zero experience, they tell you to fire your accounting, IT, and engineering departments. They tell you to move this activity to the 3rd-world. You then have a bunch of dumb as dog-shit cheap labor drones with fake credentials in your company.

In the 2000s you could literally watch McKinsey in action destroying companies. Limited innovation, except for more cheap IT innovation and cost cutting. At the expense of true excellence.

Thanks McKinsey

Detailed but dry

Would recommend if you want to know the comprehensive full story of the firm. Would not if you're looking for anything riveting.

Captivating

It is a little on the negative side, but that is the beauty of this book, a lot of historical information that you would not find in other sources. Regardless of mistakes, successes, impact and rumors my respect for the firm increased.

decent book

it was interesting hearing about the consulting industry. sometimes it was a little bit of a teeth pull

Good story, but difficult performance

How could the performance have been better?

This was my biggest issue - the narrator read this like it was a History Channel documentary on space travel. Way over-performed, but not in an engaging way. Very little personality came through.

An insider perspective of management consulting

As a former consultant reading the history of my industry is interesting, and McKinsey is the first among the "white-glove" consulting firms. This book covers everything from the start of the firm in the 30s to it's *recent* (circa 2012) controversies w/ one of it's senior partners being involved in insider trading. Probably mostly of interests to other professionals in this field or adjacent areas, but people interested in the history of US capitalism should also read as well.

insightful

Props to the author for not just doing a simple timeline of the firm, but also discussing implications of the rise of mckinsey and other consulting firms.