Consulting Industry and McKenzie's Challenges

What is the main reason for McKenzie's current challenges?

• Increased competition from small firms

• Decreased demand for consulting

• Global and technological changes

• Lack of innovation

What was a key strategy in McKenzie's past growth?

• Focusing on traditional consulting

• Expanding digital capabilities

• Reducing workforce

• Avoiding technology investments

How has BCG managed to grow compared to McKenzie?

• By reducing costs

• By focusing on traditional methods

• By avoiding digital expansion

• By better deploying and retaining specialists

What is a significant factor in BCG's continued growth?

• Avoiding digital services

• Better specialist deployment

• Reducing headcount

• Focusing on traditional consulting

Which company is noted for its rapid growth in AI services?

• BCG

• McKenzie

• Palanteer

• Open AI

What is McKenzie's core business that is currently growing healthfully?

• Strategic advising

• Digital transformation

• AI implementation

• Supply chain management

What is Palanteer's approach to competing with traditional consulting firms?

• Offering cheaper services

• Deploying engineers with clients

• Focusing on non-digital services

• Avoiding direct competition

What is a potential future challenge for McKenzie due to AI?

• Compression in consulting fees

• Over-reliance on traditional methods

• Increased need for junior staff

• Lack of strategic projects

What is a common misconception about the effects of new technology?

• Overestimating short-term effects

• Overestimating long-term effects

• Underestimating short-term effects

• Underestimating the need for consultants

What might AI eventually disrupt in the consulting industry?

• Digital transformation services

• Junior staff roles

• Strategic advising

• Traditional consulting methods