Knowledge Management at McKinsey

Seminar Paper , 2008 , 12 Pages , Grade: 1,7

Business economics - Information Management

The main topic of this work is the knowledge management of McKinsey & Company.
Therefore, in the beginning, knowledge management as well as explicit and tacit knowledge have to be defined. To get an understanding of the development of the company and how it is working, the company is introduced in a second.
After that it has to be explained how the knowledge management arised. The internal structure is important to know for understanding the culture and the management of McKinsey. The knowledge management system depends on the specialists, who are described after the knowledge management in the company. The firm-wide network is the most important thing in the company. Without this the knowledge management do not function and its hard to get to the information. Finally the ambitions of knowledge management listed and with a conclusion this work will be round off.

Table of Contents

• Introduction
• Definitions
  • Knowledge Management
  • Explicit Knowledge
  • Tacit Knowledge
• McKinsey & Company
  • The History
  • The Performance
• Knowledge Management in the Company
  • How Knowledge Management Arose
  • The Internal Structure
  • The Knowledge Culture
  • How the Company Manages the Knowledge
  • The Specialists
  • The Firm-Wide Network
• Conclusion

Objectives and Key Themes

This work examines the knowledge management practices of McKinsey & Company, one of the world's leading management consulting firms. The goal is to understand how McKinsey uses knowledge as a strategic asset, combining explicit and tacit knowledge to drive performance. The key themes explored are:

• The definition and importance of knowledge management
• The role of explicit and tacit knowledge in organizational success
• The historical development and current organizational structure of McKinsey & Company
• The evolution and implementation of knowledge management within McKinsey
• The importance of a firm-wide network for knowledge sharing and collaboration

Chapter Summaries

• Introduction: This chapter introduces the concept of knowledge management and its significance as a fourth factor of production. It highlights the importance of managing knowledge effectively and provides examples of how McKinsey values knowledge sharing.
• Definitions: This chapter provides definitions of key terms including knowledge management, explicit knowledge, and tacit knowledge. It explains how explicit knowledge is easily articulated and shared, while tacit knowledge is more personal and difficult to express.
• McKinsey & Company: This chapter provides an overview of the history and performance of McKinsey & Company. It discusses the firm's origins, growth, and current position as a leading consulting firm.
• Knowledge Management in the Company: This chapter explores how knowledge management emerged within McKinsey. It discusses the firm's response to competition, the development of industry-based client sectors, and the internal structure that supports knowledge sharing. It also describes the key roles of specialists and the importance of a firm-wide network for knowledge dissemination.

Keywords

The main focus of this work lies on knowledge management, particularly within the context of McKinsey & Company. Key terms and concepts include: explicit knowledge, tacit knowledge, firm-wide network, knowledge culture, consulting, strategy, performance, and organizational structure.

• College: Cologne University of Applied Sciences (Fakultät für Information und Kommunikation)
• Course: Information and Communication
• Grade: 1,7
• Author: Isabell Schmitt (Author)
• Publication Year: 2008
• Pages: 12
• Catalog Number: V149620
• ISBN (eBook): 9783640610587
• Language: English
• Tags: Knowledge Management, Information, Communication, McKinsey, Informationsmanagement