Word: mckinseys
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Dates: during 2000-2009
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...Leadership Institute is funded by McKinsey and Co. and the institute’s alums. Institutional support was provided by the Harvard College Dean’s Office, Harvard Business School, and the Kennedy School of Government, Doochin said. McKinsey also sent their innovation expert, Abigail Levy, to give the evening’s inaugural address...
...which each of the University’s multitude of sub-units independently applies for approval from the Corporation. Apparently, making each school, museum, and administration responsible for its own solvency encourages initiative and self-reliance. The problem of course is that this system can be hugely inefficient. A McKinsey study in 2003 found that Harvard could save $15-30 million a year by combining purchasing power across sub-units—one particularly choice example: 25 different shades of crimson-colored stationary. Like any economist, Summers found the situation unsatisfactory and began a host of reforms designed to centralize...
...provide a more structured education for undergrads. But the institutional tides push powerfully in the other direction, and the credential value of the degree is so high that there's no penalty to Harvard for placing the needs of its faculty over the best interests of its students. McKinsey and Goldman Sachs will come calling with $90,000-a-year job offers regardless of what's in the curriculum. Harvard's next president will face the same pressures and have a difficult time standing up to them...
...offered him the top job at EMI Music. EMI was then a listing ship that had jettisoned more than 40% of its market value in one year, and had just issued an entirely unexpected warning, admitting that profits would slide 20%. One of Levy's first hires was a McKinsey & Co. consultant, John Rose, in January 2002, whose remit was to figure out how to make digital pay. "He knew digital wasn't going to go away," Rose recalls. "That was a large part of his hiring me." But Levy's decision to embrace digital bucked industry notions. "The prevailing...
...foundation has been able to exact a rare level of accountability from its grantees. In India the foundation runs an HIV/AIDS-prevention program that is headed by Ashok Alexander, formerly a senior partner at consulting firm McKinsey & Co. He calls the 200,000 sex workers served by the program "customers" and the clinics "franchises." In the past year, he has cut off funding to three nongovernmental organizations because they did not meet agreed-upon milestones. "People are not used to being terminated for nonperformance, strange as it may seem," Alexander says...