The McKinsey Quarterly

Articles from Autumn

All in the Familia
Family-owned businesses in Latin America need stronger governance structures to survive and thrive in an era of globalization. The backbone of the economies of Latin America, and of most emerging markets, has traditionally been family-owned businesses,...
A New Model for Disease Management
So far, excessively high costs have torpedoed most plans for managing diseases overtime. But emerging technologies could change all that. However miraculous an outcome any surgical or other heroic intervention may achieve, doctor and patient alike...
Better UK Productivity: An Inside Job
Poor labor productivity may turn UK manufacturing companies into easy targets for foreign buyers. Modern management techniques could be the answer. The decline of Britain's manufacturing sector is not in dispute, though the causes of that decline...
Brains Abroad
Emerging markets can win in the global war for talent by leveraging the talents of their expats. To study a banyan tree, you not only must know its main stem in its own soil, but also must trace the growth of its greatness in the further soil, for...
Broadband Media: Look before You Leap
The bad news: broadband's technology, infrastructure, and economics are still inadequate. The good news: broadcasters are far more secure from attack than they were at the dawn of the World Wide Web. As consumer broadband use multiplies, so do predictions...
Broadband's Latin Future
Is the market for broadband access in Latin America worth pursuing? At first glance, the prospects look daunting. Latin America has almost as many households and small enterprises as the United States has, but far fewer of them can afford broadband...
Chicago Thinks Small
Chicago was justifiably proud when Boeing decided, this spring, to move its headquarters there from Seattle. The third-largest city in the United States, Chicago is home to more Fortune 500 companies than any other metropolitan region except New York....
Connecting the Unconnected
Cooperation among stakeholders could extend mobile-communications networks to millions of new customers in emerging markets--with rewards for all involved. For the many millions of people in emerging economies who don't have telephone lines, mobile-communications...
Corporate Reform in the Developing World
Advocates of more effective corporate governance have been focusing on corporate reform at the expense of institutional reform. Now is the time to change tactics. Despite the efforts of national governments and international organizations to improve...
Could Mobile Banking Go Global?
People who have never had a bank account could enjoy basic banking facilities for the first time thanks to mobile financial services--a good reason for service providers to turn their sights to emerging markets. If mobile financial services are...
Finding the Balance of Power
Deregulation has given rise to a new breed of highly profitable US power generators and electricity traders, but the industry faces a shakeout as supply catches up with demand. Recent US power shortages have left the Bush administration scrambling...
Getting International Banking Rules Right
Significant changes in the proposed new Basel Capital Accord are needed to avoid placing unintended burdens on banks and discouraging them from embracing the sophisticated risk-management practices it was intended to promote. This past June, the...
Has Outsourcing Gone Too Far?
Farming out in-house operations has become a religion. Faith must now be tempered by reason. If all manufacturers sang from the same hymnal--and many do--they would outsource almost everything: management gospel holds that manufacturing is too...
India-From Emerging to Surging
Photos by Swapan Parekh In a decade, the country could more than double its gross domestic product per capita--but only if its government and people act quickly and decisively. A decade ago, India and China had roughly the same gross domestic...
Insuring Taiwan's Health
Since the mid-1990s, Taiwan has made great strides in providing comprehensive health benefits to its people. Today 96 percent of them have health insurance, compared with 55 percent in 1995, when the government established a national health insurance...
Internet Services: Who's Smiling Now?
The shifting mix and management of worldwide Internet traffic will make services such as Internet hosting and content distribution increasingly important and put traditional information technology players such as AT&T, IBM, and EDS back in the...
Make or Buy?
During the past 20 years, companies around the world have embraced sometimes wrenching operational-improvement programs, from total quality management and lean manufacturing to reengineering. While the press may have exaggerated their benefits, many...
Making Money Where It's Scarce
The phrase 'information economy' conjures up, in most people's minds, the tools and assets of an affluent society: video on demand, personal digital assistants, inventory control systems. In fact, developing countries too have a lot to gain from interconnectedness--indeed...
Making the Most of Uncertainty
In extremely uncertain environments, shaping strategies may deliver higher returns, with lower risk, than they do in less uncertain times. Shape or adapt? For years, executives have regarded the question as perhaps their most fundamental strategic...
Managing the Asset Manager
Asset-management firms make investments on behalf of other people and institutions. Since the success of these firms depends to a critical extent on the quality of the talent that they employ to make investment decisions, they must excel at recruiting,...
Mobilizing South Korea's Women
Too few college-educated women participate in South Korea's workforce, a factor that is likely to affect the country's prospects for long-term economic growth. Educated women must therefore play a larger role if South Korea is to become one of the...
Nothing Ventured, Nothing Gained
How can large companies grow and foster a culture of innovation while day-to-day issues consume management's attention? One way is to launch a corporate new-venture unit that invests in internal or external opportunities. Large corporations have advantages...
Remaking China's Giant Steel Industry
The country's domestic market for steel, and the industry that supplies it, are now the world's largest. But the steelmakers of China are too fragmented and unproductive to serve its real needs. China's steel market has quickly become the world's...
Reversing the Digital Slide
The traditional models of the incumbent media companies failed them on-line. Success will require innovative models managed with familiar techniques--such as a focus on efficiency and financial returns. The on-line media sector is in disarray. In...
Revitalizing India's Banks
Indian banks urgently need capital. To make sure that they get it, the government must ease up on regulation and welcome foreign investment. India's banking system is creaking. If the country doesn't find the capital to revive its weak public-sector...
Shall We Dance?
During most of its 225 years, Moscow's Bolshoi Theater had little concern for economics. In czarist and Soviet times, it didn't need to raise private money or to compete for government subsidies. Budgets were defined solely by artistic need; ticket...
Thailand Builds a Bond Market
Developing a local-currency bond market tops the agenda of many emerging economies intent on financial reform. [1] The reasons are clear: a deep and liquid bond market provides an alternative to bank credit and thus helps to create a more competitive...
Thailand's Chance for No-Pain Gain
Thailand stands at a watershed. Earlier signs of recovery are fading, and government estimates for economic growth in 2001 have been lowered to just 2 to 3 percent. Exports are declining because of a slowing world economy, and foreign direct investment...
The Promised Economy
US investment in Israel has fallen sharply since the NASDAQ crash, but Asian and European companies and investors may fill the breach--to everyone's benefit. Despite the ongoing political and economic upheaval in the Middle East, Israel's innovative...
Unbundling the Unbundled
A second wave of disaggregation is transforming--yet again--the way asset-intensive companies work. Not so long ago, in the United States and other industrial nations, basic capital-intensive services such as electricity, gas, rail travel, telecommunications,...
Vaccines Where They're Needed
Governments and international organizations could reduce me financial risks borne by the developers and marketers of vaccines--and thereby make them cheaper and more plentiful. Saving a life usually grabs more attention than preventing a death....
Weathering Telecom's Dark and Stormy Night
Reed Hundt, former chairman of the Federal Communications Commission, explains why the future still looks good for the telecommunications industry. Deregulating US telephone services has been the holy grail of free marketers for decades. In the...
What Happened to the Bull Market?
Unless long-term interest rates drop further, aggregate price-to-earnings ratios are about as high as they can possibly be. By the time NASDAQ reached its peak in the recent bull market, many financial commentators had begun to accept the idea that...
Why Mergers Fail
Revenue deserves more attention in mergers; indeed, a failure to focus on this important factor may explain why so many mergers don't pay off. Too many companies lose their revenue momentum as they concentrate on cost synergies or fail to focus on...
Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.