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Charles Conn: Absolutely. The third step, which we also emphasize, along with good problem definition, is rigorous prioritization—we ask the questions “How important is this lever or this branch of the tree in the overall outcome that we seek to achieve? How much can I move that lever?” Obviously, we try and focus our efforts on ones that have a big impact on the problem and the ones that we have the ability to change. With salmon, ocean conditions turned out to be a big lever, but not one that we could adjust. We focused our attention on fish habitats and fish-harvesting practices, which were big levers that we could affect. Make use of 80/20 rules. Don't boil the ocean: don't try to analyze everything. Focus on 20% effort that yields 80% result. Chapter 6: The Hypothesis-Driven Approach This chapter introduces the hypothesis-driven approach, which involves developing hypotheses about a problem and then using data to test those hypotheses. It provides advice on how to develop and test hypotheses effectively. Most consultants spend a big portion of their time making presentations (often in PowerPoint). Utilize the support team! Keep it structured, from top to bottom, from end to end. Always wear impeccable clothing and groom yourself like you are being judged. Power dressing is called that for a reason
Propose solutions: When the root causes are identified, consultants propose solutions targeting them directly. A few notes when using this methodology Solving only part of the problem can still mean increased profits. Those little wins help you and your customers. Try to see such opportunities and grab them first. Tip 10: Hit singles One symptom may have different causes and we as doctors should never rely on the patient to diagnose. Too generalist (though I believe one should not expect secret recipes or detailed problem-solving algorithms from such a book.. I was still very eager for some level of detail or specificity)Charles Conn: It can be revolutionary. There are some areas in which the pattern recognition of large data sets and good algorithms can help us see things that we otherwise couldn’t see. But I do think it’s terribly important we don’t think that this particular technique is a substitute for superb problem solving, starting with good problem definition. Many people use machine learning without understanding algorithms that themselves can have biases built into them. Just as 20 years ago, when we were doing statistical analysis, we knew that we needed good model definition, we still need a good understanding of our algorithms and really good problem definition before we launch off into big data sets and unknown algorithms. Example: “You don’t need to look at the cost structure of each of the operations. Don’t boil the ocean.” Hugo Sarrazin: It’s helpful, at that moment—if someone is asserting a point of view—to ask the question “This was true in what context?” You’re trying to apply something that worked in one context to a different one. That can be deadly if the context has changed, and that’s why organizations struggle to change. You promote all these people because they did something that worked well in the past, and then there’s a disruption in the industry, and they keep doing what got them promoted even though the context has changed. You are looking for an intellectually stimulating and exhaustive book on strategy and consulting ideologies. The Lords of Strategy would be a better book for that. No matter what, engage the client members in the process. The more they feel everybody is on the same boat, the more they would support you.
Sometimes, it’s useful to use the indirect style. Take time to make the interviewee comfortable with you and the interview process. The client can mess up. Politics, rivalry, not willing to cooperate, feeling threatened by restructuring. Look over your shoulder – always. You never know who is listening. Remember that your client’s confidentiality is a must. There are many tips on client management, but the general principle is to bring the client to your side. You never win by opposing the client. Remind them about mutual benefits. Do it everyday!
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Get your job done, don't try to do the work of the whole team. You will raise unrealistic expectations and it is hard to regain credibility once you fail to meet them.
Business problems often resemble each other more than they differ. With suitable techniques, you can apply what you and the firm learned from other projects. After all, one of the values consulting firms bring is to provide the “best practice”– what the top players in the game are doing If you don’t take shortcuts, there is simply too much to do. Be selective. Find the key drivers. Focus on the core problem, then apply analysis. This helps avoid going down blind alleys and boiling the ocean. Tip 8: The Elevator Test Chapter 4: The Problem-Solving Mindset — This chapter provides advice on how to approach problem-solving with the right mindset. It emphasizes the importance of being systematic, thorough, and creative in one’s approach to problem-solving. Chapter 2: Thinking About Thinking — This chapter discusses the importance of critical thinking and the ability to challenge assumptions. It provides several techniques for improving one’s thinking skills, such as using analogies, questioning assumptions, and brainstorming. Chapter 8: The Communication Process This chapter provides advice on how to communicate effectively with clients and colleagues. It emphasizes the importance of clear and concise communication, active listening, and the use of visual aids.
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Simon London: Now, is there a danger that your logic tree can be impossibly large? This, I think, brings us onto the third step in the process, which is that you have to prioritize. Advisor such as, “Analysis must be fact based”, and, “consider searching the internet for information on a client before beginning an engagement” range from common sense to opinion.
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