Social Media Marketing in Management Consulting, an Industry built on Confidentiality and Reputation
In this case study, we analyzed McKinsey’s social media strategy to answer one fundamental question: How should companies in industries built on confidentiality and reputation market on social media?
In the book “Scrum: The Art of Doing Twice the Work in Half the Time”, Jeff Sutherland describes the advantages of the Scrum project management philosophy.
Having been part of project teams and managing projects or project modules in consulting, I immediately started to contrast the principles and ideas of scrum with the traditional project management approach I had seen so many times in consulting.
The fundamental differences between the waterfall as a traditional project management approach and the scrum method lie in their top down vs. bottom up approaches to fundamental project management.
While the waterfall method tries to fit work to the project schedule, e.g., by allocating more resources to overcome roadblocks to catch up with the schedule, the scrum method adapts the project schedule to contingencies and tries to not overwhelm resources in case of obstacles.
For decades, Procter & Gamble has internally used a format called the “One-Pager Memo”. Over the last months, the one-pager format has helped me out many times - sometimes in very surprising ways.
My professor at UC Berkeley, former P&G Marketing Director Bill Pearce, introduced me to the one-pager memo format in one of my MBA classes.
The art and science of writing one-pagers
Each week, Bill made us write a different product development concept using the one-pager structure. To me, this sometimes ended in long nights tweaking my writing over and over again to make both the idea and its communication work.
You can find a great explanation of the format and how it works in this blog post by Vandwerk. It basically follows this structure:
If you’re an entrepreneur, MBA student, consultant, or apply for a job - you’ve probably been in a situation where someone asked you to “go and understand that business model”.
Easier said than done. But don’t worry, I’m here to provide you with a method that has helped me in the past. I call this method the “cash-in cash-out business model analysis”.
The typical approach: Defaulting to the Business Model Canvas
During my MBA at Berkeley-Haas we analyzed and designed business models a lot. One of the popular tools used in these exercises is the Business Model Canvas.
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