Recently, McKinsey & Company has been in the news due to a decline in demand for consulting services, leaving staff without client projects. This quiet period has prompted McKinsey to focus on improving their performance management and development approach to navigate the challenging business environment. The firm's efforts to adapt to the changing landscape reflect a broader trend affecting consulting firms globally.
McKinsey & Company is a renowned management consulting firm founded in 1926 by James O. McKinsey. Headquartered in the United States, McKinsey provides strategic management advice to a wide range of clients, including corporations, governments, and organizations. The firm has a long history of advising on various business challenges and is known for its expertise in areas such as organizational strategy, operations, and finance. McKinsey's global presence and reputation for delivering high-quality consulting services have solidified its position as a leader in the industry.