The McKinsey Quarterly

Articles from No. 2, Spring

An Acid Bath for Asian Chemicals
The region's producers are fragmented, inefficient, and mostly broke What can they do to make themselves whole? Asia's chemical industry(*) is in deep trouble: the regional collapse in demand for its products is forcing more and more debt-burdened...
A New Formula for European Chemicals
In a globalizing market undercut by the Asian economic crisis, consolidation is the only answer Europe's commodity chemical sector has again entered a downturn. Opportunities for arbitrage mean that chemical prices around the world are increasingly...
Bank M&A: Historic Opportunities, but Not for the Fainthearted
The long-awaited M&A boom is coming, and it will reshape the competitive landscapes of Asian banking The boldest and best players can emerge as winners, but only if they overcome the unique challenges of M&A in postcrisis Asia Most observers...
Battle for the Backbone
Can the incumbent telco empire strike back at the attackers threatening the financial health of the transport business? Back when Ma Bell and its progeny - the incumbent local and long-distance telephone companies in the United States - were the...
Brand Leverage
A brand can grow quickly if its owner builds on the foundation of performance, personality, and presence to create innovative strategies for expansion through focus or diversification Branding is a hot topic in boardrooms around the world because...
Digital What? the Coming Revolution in Radio
Amid all the hoopla about satellite television, high-definition television, digital cable television, and the Internet, radio has largely escaped public attention. Yet in the United States, it is now undergoing a boom. Station ownership has consolidated...
Information Unleashed: The Coming of Wireless Data
Information is about to be freed from its dependence on wires * But no single company has all the assets it will need to dominate this emerging market * And to win long-term advantages, the sophisticated use of customer information will be essential...
Personal Financial Services Goes Global
Being an insider in your local market is no longer enough * Do you have the skills to specialize or the market cap to acquire? The wholesale side of the financial services industry - mergers and acquisitions advice, foreign exchange, and the trading...
Petroleum: After the Megamergers
Recent deals have raised the ante for midsize players without scale or focus Two recent historic mergers - between Exxon and Mobil, and BP and Amoco - have rocked the global petroleum industry. Much as the oil shock of 1973 ushered in a new era,...
Rebuilding the Banks
The region's banks are mostly small and inefficient Now that has to change Asia's local financial institutions can no longer afford merely to tinker at the edges; more open markets, more demanding customers and foreign institutional investors,...
Strategic Thinking on the Front Lines
If large, centrally managed corporations are a thing of the past in many industries, so too are large, centrally managed strategy departments. Or are they? We decided to find out. Decentralization sometimes means the creation of separate business...
Telematics: Where the Radio Meets the Road
Communications technology will almost certainly transform the auto industry - but how? Look to past technological revolutions for clues about the future Incorporating new technologies in mass-produced automobiles has always been a risky business:...
The Euro: How to Keep Your Prices Up and Your Competitors Down
Most companies know that the introduction of the euro in January 1999 will increase competition and level prices significantly across Europe. Yet few have changed their marketing and pricing strategies in response. The opportunity forgone is huge....
The New Electric Industry: Reflections and Refinements
In the fall of 1996, when deregulation was picking up steam in the United States, three McKinsey consultants - William Heller, Paul Jansen, and I - wrote an article predicting how and where value would be created in the newly refashioned electric power...