McKinsey & Company history, company profile (overview) and corporate video
McKinsey & Company is a global management consulting company headquartered in New York, United States.
SOLUTIONS BY BUSINESS FUNCTION
- Sustainability – Catalyst Zero;
- Risk – C-Insights;
- Operations – Cleansheet;
- Strategy & Corporate Finance – Corporate Performance Analytics;
- Digital – Ignite;
- Marketing & Sales – Journey Analytics;
- Organization – OrgSolutions;
- Marketing & Sales – Periscope;
- Digital – Watchtower;
- Transformation – Wave.
McKinsey & Company’s history began in 1926 when James O. McKinsey, a University of Chicago professor and expert on management accounting, established his eponymous consulting firm.
In 1952, the company served the incoming Eisenhower administration by recommending the creation of the post of White House chief of staff, a role which is still in use today.
In 1954, McKinsey’s partners voted to undertake pro bono work for the Red Cross and other not-for-profits, establishing a firm commitment to civil society.
In 1958, McKinsey helped design the original organization of NASA.
In 1959, McKinsey and IBM jointly developed the “Bank Management Game,” an early computer simulation, which was field tested with banks.
In 1959, the company also opened an office in London, the first outside the United States.
In 1970, McKinsey worked with the Uniform Grocery Product Code Council and manufacturers and retailers of all sizes, to create a system that assigns a unique code to every product sold in the United States – the “Universal Product Code” (UPC).
In 1971, the company opened an office in Tokyo, Japan – the first in Asia.
In 1990, The McKinsey Global Institute (MGI) was established as an independent think tank to improve understanding of fundamental economic issues facing organizations globally.
In 1995, the company opened offices in Shanghai and Beijing, China.
In 2000, McKinsey focused on not-for-profits, foundations, and other nongovernmental organizations by creating a practice dedicated to serving them.
In 2007, McKinsey Solutions was created as an umbrella for a portfolio of web-based tools.
In 2011, McKinsey Analytics was created to provide clients with support in designing, creating, interrogating, and maintaining big data models to inform critical business decisions.
In 2014, the company opened an office in Nairobi, Kenya, Africa, serving clients across the public and private sectors.
In 2015, McKinsey binged the AI to the firm by acquiring QuantumBlack, which focused on the use of big data and advanced analytics to improve organizational performance. McKinsey Digital was also launched that year.
In 2016, McKinsey Design gowned by acquiring Lunar, Veryday, and Carbon12.
In 2017, McKinsey founded Generation, a not-for-profit focused on tackling global youth unemployment
In 2017, McKinsey also acquired Aberkyn, which focused on the development and cultural transformation.
In 2018, McKinsey founded Rethinking Recycling, an initiative to address the crisis caused by tons of waste generated each day around the world.
In 2020, McKinsey acquired Orpheus, which engaged in digital procurement.
In 2021, McKinsey acquired Candid Partners, engaged in cloud consulting, Vivid Economics and Planetrics, focused on climate change, and Material Economics, experts in sustainability and “circularity.”
- Advanced Electronics;
- Aerospace & Defense;
- Automotive & Assembly;
- Consumer Packaged Goods;
- Electric Power & Natural Gas;
- Engineering, Construction & Building Materials;
- Financial Services;
- Healthcare Systems & Services;
- Life Sciences;
- Metals & Mining;
- Oil & Gas;
- Paper, Forest Products & Packaging;
- Private Equity & Principal Investors;
- Public & Social Sector;
- Real Estate;
- Technology, Media & Telecommunications;
- Travel, Logistics & Infrastructure.
With more than 38,000 employees, McKinsey & Company is considered one of the world’s largest management consulting companies. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.mckinsey.com.
**Video published on YouTube by “McKinsey & Company“