Word: mckinsey
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Dates: during 1990-1999
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Since Kim became chief executive last year, that's exactly what bank employees have been doing. Property assessments were computerized with help from U.S. consulting firm McKinsey & Co., and loan officers must spend their time drumming up new business. Or else: 30% of their paycheck is tied to performance. Improved efficiency means homeowners today can get loans of up to 80% of the assessed value of their homes. The bank's president and CEO wants his employees to think like entrepreneurs and sends frequent e-mail to hammer home the message. He even brings in motivational speakers from other walks...
Joseph Lauricella, though, wasn't your typical McKinsey man. He set up a sham pro-dump grassroots organization. His duties, according to San Bernardino County grand jury indictments and his testimony, included swiping confidential data, sabotaging potential deals and spreading rumors that linked Cadiz to illegal dumping and drug trafficking--all in an attempt to drive down its stock price and cripple its lobbying efforts. Last fall Lauricella was sentenced to six years in prison for his consulting efforts. Waste Management and four of its executives, who claim that Lauricella was a renegade acting on his own, have pleaded...
...junkies among us are probably aware, Harvard Law School suffers from the lowest student satisfaction rate of any law school in the nation. To brighten its image, the school has hired McKinsey to determine its own real customer satisfaction rate. Four full-time consultants have been hired on a two-year fact-finding mission to collect "objective and systematic" data on why the Law School has failed its students of late. If you don't believe it, check out their office on the second floor of Hauser Hall...
...consider the Harvard soon-to-be graduates yearning to join the ranks of the consultants at McKinsey or the I-bankers at Goldman Sachs. Many times, we will have all but mapped out our career path, which consists vaguely of a high-pressure two year program, a two-year stint across the river and then limitless possibilities. In many cases the entry-level job is nothing but a means to an end, so that the most substantive difference between McKinsey and Mitchell Madison is the former has a higher percentage of acceptances to Harvard Business School. Such an atmosphere does...
...just as the corporations encourage us to rebel against old models of soft-drink consumption or blue jeans wearing, they are the ones who encourage us to rebel against the old style of employment. The McKinsey recruiters at the Office of Career Services will be the first ones to tell you just how many of last year's consultants made the B-School cut. Just as much as we might exploit them for their opportunities, resources and salaries, they will undoubtedly return the favor...