In this episode with Rob Markey, we will discuss valuing and measuring customer loyalty. Rob highlights the gap between executives' intentions to prioritize customers and their actual practices, noting that only 8% of customers believe they receive exceptional experiences, despite 80% of executives thinking so. Rob discusses the need for companies to measure and manage customer lifetime value, using tools like Net Promoter Scores and customer segmentation. He also discusses the challenges of implementing customer-centric strategies, the importance of relationship recovery, and the role of leadership in driving these changes.

Rob Markey is a partner and director at Bain & Company and the founder of the firm’s Global Customer Strategy and Marketing practice. He is a co-author of The Ultimate Question 2.0 and is the host of the Net Promoter System podcast. He is based in New York.

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Welcome to Strategy Skills episode 518, an interview with the author of Change: Six science-backed strategies to transform your brain, body, and behavior, Michael J. Lopez.

In this episode, Michael shares his consulting journey and leadership challenges that shaped his leadership style and led him to start his own firm. He shares his advice for consultants aiming to become partners in today's hybrid work environment. 

Michael also discussed change and how deeply personal it is that it can't be approached with one-size-fits-all solutions. Lopez explains why change takes longer than expected, especially in adults, and warns against organizations' tendency to focus too much on immediate outcomes rather than the necessary process of transformation.

Michael J. Lopez is a leading voice in change, combining scientific principles and human behavior to unlock potential in individuals and organizations. With diverse experience across industries, he designs innovative strategies that drive transformation and accelerate performance, earning recognition as a LinkedIn Top Voice.

Get Michael’s new book here: https://shorturl.at/NSBAn

Change: Six science-backed strategies to transform your brain, body, and behavior

Here are some free gifts for you:

Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

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In this episode, we dive into digital transformation consulting, exploring the top digital transformation challenges faced by today’s technology leader from a large consulting firm working with C-suite executives on large-scale transformation projects. We’ll discuss how emerging tech consulting is shaping the future and how to balance vision and practicality while staying up to date on technology trends, especially the rapid move from AI to generative AI. We cover the challenges of business case development and overcoming ambiguous requirements that often arise in these fast-paced engagements. 

We also cover the challenges of staying up to date with consulting best practices, and skill-building for consultants to stay ahead of complex client demands at a time when there is almost no time left in leaders' days for skills development. 

It is about adapting to change, managing client expectations, and leading teams through fast-paced tech adoption. Gain insights into delivering digital strategy, employing communication skills and strategic thinking to achieve industry impact.

We will also touch on benchmarking a 5-year vision, aligning stakeholder goals, and working in a lucrative consulting niche, even though it can be stressful.

It is not easy to build disruptive solutions to earn client trust while staying up to date on tech advancements. Whether you’re new to continuous learning in consulting or an established professional, this video will give you ideas on navigating your consulting career successfully.

Also, learn how you can leverage knowledge from McKinsey, BCG et al. former partners, and resources from firmsconsulting.com and StrategyTraining.com to strengthen your consulting skills and stay relevant in a fast-changing world.

If you're ready to sharpen your consulting skills, get three exclusive gifts:

Nine Leaders in Action eBook: https://specialoffers.firmsconsulting.com/gift

McKinsey & BCG Winning Resume: https://firmsconsulting.com/resumepdf

Well-Managed Strategy Study Guide: https://firmsconsulting.com/overallapproach

Watch the video version here: https://youtu.be/jUaO9WiR8NM?si=xGfAik9paUKV6zBE

Welcome to Strategy Skills episode 516, an interview with the author of Change the Wallpaper: Transforming Cultural Patterns to Build More Just Communities, Nilanjana Dasgupta.

In this episode, Nilanjana discusses her career journey and research on implicit bias and diversity science. She highlights her groundbreaking 2001 study showing that implicit attitudes can be changed through exposure to counter-stereotypical media images. Nilanjana also discusses the importance of understanding and addressing subtle forms of discrimination, such as accent and social class, in professional settings. She advocates for evidence-based strategies over diversity training to foster inclusive cultures.

Her new book, "Change the Wallpaper," offers practical approaches to creating cultural change for equality and justice, focusing on situational forces that influence behavior and perceptions.

Nilanjana Dasgupta is a professor of psychology at the University of Massachusetts. She is a leader in research on implicit bias, diversity science, and designing interventions to create local culture change. Her passion is to translate science for social good.

Get Nilanjana’s new book here: https://changethewallpaper.com/

Here are some free gifts for you:

Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf

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Today, we will answer a common question about how to determine office location preference to include on the consulting job application with firms like McKinsey, BCG, and Bain and when applying to firms like Deloitte, PwC, KPMG, et al. The thinking process will also be applicable when considering taking a leadership role in various parts of the world versus selecting a role in your hometown or closer to home.

Question we received from one of our subscribers:

“I’ve been told that the office locations you select on your full-time consulting job application can significantly impact your opportunities. I am considering applying to my hometown office (I am from the US) or applying to another country to get international experience. What is your advice on thinking about this and making a decision?” #McKinsey #consultinginterviews #caseinterview 

Students and consultants usually ask us for help with consulting specialization. This is a crucial question that consultants have to consider when mapping out their management consulting career path. Today’s video will provide our perspective on this topic. Many consultants do not understand consulting specialization. Sector and type of work are not mutually exclusive. What does that mean? To specialize, you need to define your area of specialization around three areas. After watching this video, you will have a much better understanding of how to select your area of specialization as you are building your consulting career.

If you're ready to sharpen your consulting skills, get three exclusive gifts:

Nine Leaders in Action eBook: https://specialoffers.firmsconsulting.com/gift

McKinsey & BCG Winning Resume: https://firmsconsulting.com/resumepdf

Well-Managed Strategy Study Guide: https://firmsconsulting.com/overallapproach

Watch the video version here: https://youtu.be/FIOSVGq2mNs?si=EhGqKZMOQWw495Sr

Welcome to Strategy Skills episode 513, an interview with the author of Leading Giants: A Leader's Guide to Maximum Influence, Dave Durand.

In this episode, Dave explains his decision to approach life as an adventure, without fearing mistakes and prioritizing the best ideas over being right. He talks about building successful organizations by creating the right culture, hiring for values and cultural fit, and adapting to technological changes. He shares how he balances personal and professional responsibilities, advising us to maintain order in life and strive for continuous improvement.

Dave Durand is a 9-figure founder. He has built and sold multiple businesses which have collectively done over one billion dollars in sales in industries including media, digital services, and leadership training. He has been named Most Respected CEO three times by Glassdoor and Entrepreneur of the Year by Ernst & Young.

Get Dave’s new book here: https://shorturl.at/qoogX

Leading Giants: A Leader's Guide to Maximum Influence

Here are some free gifts for you:

Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

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In this episode, we dive into the art and science of creating consulting storyboards early in a strategy study. We'll address a thoughtful question from Henry, a subscriber, about how consultants at firms like McKinsey, etc. can prepare storyboards so quickly without pre-determined answers.

You'll learn:

- Why starting with the objective function is key.  - How decision trees, hypotheses, and targeted analyses guide our approach.  - Common mistakes in communication and how to avoid them. 

If you're ready to sharpen your consulting skills, get three exclusive gifts:

Nine Leaders in Action eBook: https://specialoffers.firmsconsulting.com/gift

McKinsey & BCG Winning Resume: https://firmsconsulting.com/resumepdf

Well-Managed Strategy Study Guide: https://firmsconsulting.com/overallapproach

Watch the video version here: https://youtu.be/-BbNqxtryHQ?si=XuAEOuzbjh2pIjXV

Welcome to Strategy Skills episode 511, an interview with the author of The Imagination Emporium: Creative Recipes for Innovation, Duncan Wardle.

In this episode, Duncan discusses how to promote creativity in business and explains how the subconscious mind generates better ideas when we’re not at work. He introduces tools like "What If," "Where Else," and "How Else" to help teams think differently. The discussion also covers how businesses can adapt to AI advancements while maintaining human touch and creativity. His book, The Imagination Emporium, presents these concepts through characters that represent different aspects of innovation.

Duncan Wardle is the former Head of Innovation and Creativity at Disney, where he spent 30 years fostering groundbreaking ideas. He now helps organizations like Apple, the NBA, and Spotify redefine problem-solving with practical tools that make innovation accessible and creativity actionable. 

Get Duncan’s book here: https://tinyurl.com/5n783ud5

The Imagination Emporium: Creative Recipes for Innovation

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Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

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Welcome to Strategy Skills episode 510, an interview with the author of Collaborative Disruption, Tom Muccio.

In this episode, Tom Muccio shares his experience leading Procter & Gamble's collaboration with Walmart. By breaking down corporate barriers and focusing on mutual understanding, Tom helped both companies grow dramatically and expand their business from $350 million to $8 billion. His approach focuses on respect, testing new ideas, and challenging traditional business norms through transparent communication and shared strategic goals.

Tom Muccio was the architect and first team leader of the groundbreaking process that turned an adversarial relationship between Walmart and P&G into one that created dynamic a win-win for both companies and has now been replicated in thousands of Customer-Supplier relationships around the world. P&G-Walmart groundbreaking relationship is outlined in his book "Collaborative Disruption."

Get Tom’s book here: https://shorturl.at/GDNgl Collaborative Disruption: The Walmart and P&G Partnership That Changed Retail Forever

Here are some free gifts for you:

Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf

Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo