Learn how to do effective Problem Solving from an ex Mckinsey Consultant

Problem-solving skills help you determine why an issue is happening and how to resolve that issue. It's one of the key skills that employers seek in job applicants. Problem-solving starts with identifying the issue, coming up with solutions, implementing those solutions, and evaluating their effectiveness. The McKinsey problem-solving process is a series of mindset shifts and structured approaches to thinking about and solving challenging problems.

​Critical thinking skills are important as they enable people “to deal effectively with social, scientific, and practical problems”. Simply put, people who are able to think critically are able to solve problems effectively. Merely having knowledge or information is not enough.

​What you will learn in this session?

​What are the fundamental principles of Problem Solving?

​Defining McKinsey 7 step Problem Solving

​What is the fact behind the historical 80:20 Principle? How it works nowadays?

​What is the importance of Critical Thinking and how it can be used in everyday life?

​How to practice Critical Thinking?

​About: Joybroto Ganguly

​Joybroto (Joy) Ganguly is a former Mckinsey Consultant and a Serial Entrepreneur. He brings with him years of experience in leading teams, solving problems, and developing strategies.

​Coming from a family of academicians, Joy's passion for education led him to start an NGO providing complementary education for underprivileged kids. He has led path-breaking studies for Fortune 500 companies as an EM at Mckinsey.

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[PatrickMeniboon-op]

Very informative. Thank you for sharing this. Gives me more confidence to walk into any problem solving situation.

[CimolOk-nzyj]

🎯 Key Takeaways for quick navigation:

00:00 🎤 *Introduction to the Problem Solving Class*
- Introduction and background of the expert, Joy.
- Overview of the problem-solving class and its structure.
01:49 🌲 *Understanding Issue Trees*
- Explanation of the concept of an issue tree.
- Importance of participatory and practical learning in problem solving.
02:46 📈 *Pyramid of Payout in the Corporate World*
- Discussion on the pyramid of payout in the corporate world.
- Emphasis on the significance of problem-solving skills for career advancement.
04:22 📊 *McKinsey's Seven-Step Problem Solving*
- Introduction to McKinsey's seven-step problem-solving process.
- Detailed explanation of each step, emphasizing the importance of defining and structuring the problem.
08:07 🌳 *Developing an Issue Tree: Live Example*
- Live exercise on creating an issue tree.
- Participants' involvement in suggesting ways to increase a restaurant's revenue.
14:31 🔄 *Prioritizing and Analyzing Issues*
- Discussion on the importance of prioritizing and analyzing issues in problem solving.
- Example of using the issue tree in practical scenarios.
17:45 🛠️ *Addressing Fixed and Variable Costs*
- Exploration of strategies to reduce fixed and variable costs in a restaurant.
- Encouragement for participant input on cost reduction methods.
20:37 💡 *Mindset for Effective Problem Solving*
- Discussion on the mindset required for effective problem solving.
- Tips on being curious, imperfectionist, and embracing ambiguity.
22:20 🎓 *Applying Problem Solving in Various Domains*
- Application of problem-solving skills in different professional and personal domains.
- Q&A session addressing various aspects of problem solving and consulting.
29:55 🚀 *Transitioning into Consulting and Upskilling*
- Advice on transitioning into consulting and upskilling for freshers.
- Importance of continuous learning and staying updated in the consulting field.
33:11 🌱 *Growth MBA and Career Opportunities*
- Introduction to the Growth MBA program.
- Discussion on career opportunities post-completion of the program.
37:22 🧠 *Emphasizing Data-Driven Problem Solving*
- Emphasis on data-driven problem solving over perception-based approaches.
- Clarification on identifying and defining real problems.
40:48 📚 *Resources for Learning Problem Solving*
- Recommendations on resources and books for learning problem solving.
- The rationale behind starting Antwork and its focus on social learning.

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[gourmondal-uv]

When I find the other lecture of this series