Word: mckinseys
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...Into a New Era. ("My heart is filled with pride ... I long to tell you how deep my love for Wal-Mart is ... ") Wal-Mart plans to increase this year, from 25 to 40, the number of stores in China. In China's three main cities, according to a McKinsey study, increasing wealth will support 250 hypermarkets among the competing retailers. The company introduced the Walton Institute, a program to teach local managers the master's Three Basic Beliefs (respect for the individual, service to our customers, and to strive for excellence), the Sundown Rule (any employee or customer request...
...debt disposal or any of the other macho macroeconomic fixes currently capturing all the attention, but structural reform designed to remove governmental barriers to free-market competition at the domestic corporate level. "You can clean up the banks' balance sheets all you want," says James Kondo, a consultant at McKinsey & Co. who helped produce a recent study that remains one of the most comprehensive looks yet at Japan's productivity gap. "But until you change the environments companies operate in, the same problems are going to keep returning. Right now, people are just treating the symptoms." Because Japan's productivity...
...country famous as the place where they always make things better, cheaper, smarter. Production techniques invented here?Just In Time Manufacturing, Total Quality Management, Continuous Improvement?have been imitated from Seoul to S?o Paulo. Certainly, Japan's leading export manufacturers deserve this reputation. According to that report by McKinsey, Japanese export industries like automobiles, electronics and computer hardware are, indeed, 20% more productive than the worldwide benchmark. But here's the problem: these industries, once you stop to count them, are quite few in number. Together, they make up only 10% of Japan's workforce...
...scale, are poorly managed, and use antiquated equipment and business models?all of which hurt productivity and increase prices. Take food processing: Without state-of-the-art market research and sales-tracking capabilities, food companies churn out endless variations of new products that no one winds up buying. McKinsey cites an example of one Japanese chocolate maker whose 101 products generated sales of $556 million in 1998. Compare that to U.S.-based Hershey, which generated $4.4 billion in sales with just 78 products. Or take health care: The Japanese government's generous hospital reimbursement criteria practically encourage health-care providers...
Thomas-Graham, the keynote speaker, is author of two best-selling mystery novels, the first black woman to become a partner at McKinsey and Co. and currently the highest-ranking black American in cable news. She spoke at length about women’s role as “the corporate conscience...