McKinsey & Company's Technology Adoption

This assignment examines McKinsey & Company's implementation of emerging technologies like artificial intelligence and automation to optimize resource allocation and efficiency. It highlights the significant cost savings achieved through this technological transformation, citing a $300 billion annual reduction. The document also provides references from academic journals and online sources to support its claims.

Emerging Themes

Table of Contents
INTRODUCTION...........................................................................................................................1
1. Case study analysis. ...............................................................................................................1
2. Critical analysis of emerging themes......................................................................................4
3. Recommendations...................................................................................................................5
CONCLUSION ..............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Emerging themes refers to the exclusive set of customers and service providers, that are
providing products based on new techniques. In this process effectiveness of implementation
depends on creativity and innovative approach of an individual (Chekwa and Daniel, 2014). It
helps the organisation in increasing their profitability and maximising their growth. The
identification of themes is based on the researches and audits. This report is based on case study
of Mckinsey & company's Global Energy & Material Practices (Martin, Ritz and Kosloski,
2014). They are offering their services in various fields such as aerospace, automobiles,
chemical, finance, oil & gas, etc. This report is present in context of oil and gas services of
company (Nascimento, 2014). Along with the identification of emerging themes, their impact on
organisation is considered. It also critically evaluates their impact of emerging themes on
strategic decision - making activity of the company (Nonaka and et, al., 2014). On the basis of
that effective recommendations are also included into the report (He, 2014).
1. Case study analysis.
Emerging themes is considered a trend in organisation. Through this approach they are
able to implement new technologies and target millennial (Petković and Lukić, 2014). Emerging
theme of the Mckinsey & company is based on the technologies, through which they are
reshaping their resources. In this process they are adopting advance technologies, through which
they are able to reduce material consumption, increase production of renewable energy (Schultz,
André and Sjøvold, 2016). Along with this it also reduced production and manufacturing
duration and complexity of the process. With the help of this strategies Mckinsey & company's is
able to reshape processing of their organization (Shukla, Khan and Nayak, 2016). Along with
this it has provided various opportunities in the field of automation, artificial intelligence and
robotics. On the basis of that company is able to expand growth of company and meet demands
of users effectively (Zafar, Saifullah and Mahmood, 2014).
They are having deep understanding in developing economy of world. On the basis of that they
are providing effective commercial, social and public sector information (Chekwa and Daniel,
2014). Through this Mckinsey & company are playing significant role in decision making
activity of leading organisation. In this process they are considering various analysis and
research work for effectively analyses all the factors (Martin, Ritz and Kosloski, 2014).
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Mckinsey & company's is able to effectively implement the chosen emerging theme of
reshaping their resources using technology by considering following steps: Disruption: In this step Mckinsey & company's are implementing technologies to provide
new view point to the existing products (Nascimento, 2014). They are considering
innovative and creative approaches into their oil and gas, copper and coal business. In
this process they are considering approaches to make the services renewable (Nonaka and
et, al., 2014). They have included various electronic and autonomous elements for
reducing fuel consumption (Petković and Lukić, 2014). Evolution: On the developed product innovation is implemented to increase their
effective trajectory by reducing consumption of resources (Schultz, André and Sjøvold,
2016). It helps in increasing the performance of the products, along with this weaknesses
of the services can be also removed or handled (Shukla, Khan and Nayak, 2016). For this
process Mckinsey & company's considers various models and previous research
information. This step helps the firm in increase their effectiveness of services(Zafar,
Saifullah and Mahmood, 2014). Convergence: Through this step complete valuation of the manufactured product takes
places. It helps in analysing the performance of the services (Zafar, Saifullah and
Mahmood, 2014). Through this approach they are able to maintain legacy providing
qualitative product of company remain maintained. It also helps in maintaining
reputation and maximize profitability of firm (Chekwa and Daniel, 2014).
 Re-imagination: With the help of performance analysis, efficiency of the product is
measured (Martin, Ritz and Kosloski, 2014). It helps in rethinking of the product
category takes place. Through this step they are able to implement new technologies and
increasing efficiency of the services (Nascimento, 2014). It also enables the organisation
in creating new product. Through this step company is able to explore new opportunities.
With the help of this step introduced various renewable energy by reducing consumption
of resources (Nonaka and et, al., 2014).
Mckinsey & company's is introducing technologies in order to reshape their resources.
During this process they are increasing efficiency of their services and also reducing resources
consumption (Petković and Lukić, 2014). The emerging themes had created positive impact on
various segment of company. With the help of this step Mckinsey & company's is able to
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expand their marketing, development and manufacturing unit effectively (Schultz, André and
Sjøvold, 2016). Along with this it also provided various opportunities to the organisation. They
have reshaped their resources in order to increase performance and minimize resource
consumption. Through this approach company is able to implement robotics, artificial
intelligence, automation and so on, it helps in increasing quality of their services (Shukla, Khan
and Nayak, 2016). The implementation of technologies has increased the customer satisfaction. It
helps the company in transforming the services effectively, along with this it also increases the
productivity ratio of company (Zafar, Saifullah and Mahmood, 2014). Mckinsey & company's is
able to save $900 billion by transportation, manufacturing and other resources. This helps the
company in increasing performance of five major ventures of company such as oil & gas,
thermal, copper, coal and iron ore (Chekwa and Daniel, 2014).
Through these units they are able to generate $ 300 billions annually. It helps in
maximizing profitability of company. It helps in identifying various opportunities and enables to
explore them effectively (Martin, Ritz and Kosloski, 2014). The implementation of emerging
themes also reduces the consumption of resources and promoted the renewable resources. It
helps the company in developing effective emerging market strategies (Nascimento, 2014). With
the help of this step they are able to group users on the basis of segmentation method and apply
technologies in attracting or influencing them (Nonaka and et, al., 2014). To analyse the impact
of emerging themes effectively following factors are considered:
Technological advancement: The organisation is implementing artificial intelligence, robots and
automated devices to handling processing (Petković and Lukić, 2014). It decreases time duration
of development and material consumption. To overcome this issue Mckinsey & company's
implemented reshaping their resources using technology. With the help of this various
technological changes and creativity is introduced into the process (Schultz, André and Sjøvold,
2016). It reduces the manufacturing time of company effectively. Along with this support
company in satisfying demands of customers. Through introducing artificial intelligence and
robots into organisations quality of services is also remain maintained (Shukla, Khan and Nayak,
2016).
Industrial globalisation: Technologies provides various combinations to solve any problem
effectively (Zafar, Saifullah and Mahmood, 2014). Along with this it reduces time and failure
chances. Therefore, it is considered in every field. Mckinsey & company's implemented this
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approach for reducing failure probability and meeting needs of future generation (Chekwa and
Daniel, 2014). It also helps the company in maintaining unique image at global platform.
Through this step company is creating set of customers at global platform. Along with this they
are implementing smart ideas and innovative approaches, it helps the company in attracting
customers are maintaining effective demand and supply chain (Martin, Ritz and Kosloski, 2014).
Global economic issues: Technologies are boosting up the economical and financial level of the
company. Through implementing technological restructure of resources, Mckinsey & company's
is able to save $ 300 billion annually (Nascimento, 2014). It enables the company in
understanding the global issues deeply. On the basis of that they are able to implement effective
strategies to overcome that. For this .they are considering macro to micro analysis approach
(Nonaka and et, al., 2014). It helps in effectively analysing the financial and economic impact of
digitization, technologies, creativity and innovation. It also helps in handing competition at
international platform and maintaining their image at global platform (Petković and Lukić,
2014).
2. Critical analysis of emerging themes.
On the basis of above case study it is critically analysed that Emerging theme of the
Mckinsey & company is reshaping resources based on the technologies is creating positive
impact on the company. They are implementing technologies like automated system, artificial
intelligence and robots (Schultz, André and Sjøvold, 2016). It will influence operational
strategies as well as decision-making process of company. To increase efficiency of operations
some basic modifications are required. For this company is providing training and learning to the
employees. Through this step Mckinsey & company is trying to enhance capability of workers
(Shukla, Khan and Nayak, 2016). It helps them in order to handle automated system, robots and
artificial intelligence. For instance, the mines of company is deployed with advance extraction
techniques. Through this step extraction process become easier and faster (Zafar, Saifullah and
Mahmood, 2014).
It increases the effectiveness of the processing. Along with this various changes are
required at decision-making for improving the shape of the company. For this they are
implementing various changes such as such as they are focussing on the technologies and
techniques for developing products (Petković and Lukić, 2014). They will be considering making
strategies for increasing saving are decreasing consumptions of resources. Along with this they
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are also they are also focusing on skill development activities in order to meet demands and
needs of the user effectively. All the implementation decisions are focused on the optimizing
resources consumption, provide safe and effective services for maintaining quality of services.
For example with the help of effective decision-making approach they are able to find
proper location to setup solar plant for generating large amount of energy. It helps the company
is generating huge profit through small investment (Schultz, André and Sjøvold, 2016).
Various technological barriers are also being faced by the company. They are considering
certain backups in order to handle them effectively. Through implementing effective decision-
making they are able to identify opportunities that can be considered as millstone for the
company. On the basis of these emerging themes they have introduces action plan for next five
years (He, 2014). This action plan is based on the emerging theme, that is reshaping resources
through technologies. In this action plan they are focusing on the technological that can generate
effective results for future generation. Along with this helps in exploring opportunities. They are
also trying to minimise the consumption of resources for increasing saving of the company up to
$ 3000 billion. Mckinsey & company is also considering various approaches for improving
quality in order to attract maximum number of customers (He, 2014).
3. Recommendations.
On the basis of above case study Mckinsey & company is recommended to provide
training and learning to their employees. It helps the organisation in achieving their objective
effectively (Shukla, Khan and Nayak, 2016). They also have backups for handling system
failure, so that it does not affect the production of the company at great extend. Along with this
proper planning and strategies should be considered for developing products and minimise
consumption of resources (5 emerging Themes for 21st century. 2017). Distribution of transport
facilities and consumption of energy resources should be limited productivity of energy can be
increased. It helps the company in increasing profitability of company. With the help of the
recommendation Mckinsey & company is able to expand their services and attract maximum
number of customers (Zafar, Saifullah and Mahmood, 2014). It also helps the organisation in
order to expand their business and maximise profitability.
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CONCLUSION
On the basis of above case study it is inferred that Mckinsey & company is
implementing emerging theme that reshaping resources through technologies. Therefore, they are
implementing advance technologies such as artificial intelligence, robots and automated systems.
It helps in reducing the complexity of process, manufacturing duration and consumption of
resources. Along with this it also helps in increasing production, quality and performance. It
helps the organisation in satisfying their customers. With the helps of this step Mckinsey &
company is able to save approx. $ 300 billion annually. Therefore, implementation of
technologies into the organisation, helped in reshaping their resources.
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REFERENCES
Books and Journals
Chekwa, E. and Daniel, A., 2014. Digital Technology: Transforming Lifestyles And Business
Practices. International Journal of the Academic Business World.8(2). pp.77-84.
He, J., 2014. Technology Adoption in Hospitals–The Roles of System Integration and
Technology Support.
Martin, G., Ritz, J. and Kosloski, M., 2014. Technology and Engineering Education Doctoral
Students' Perceptions of Their Profession. The Journal of Technology Studies. pp.82-94.
Nascimento, S., 2014. Critical notions of technology and the promises of empowerment in
shared machine shops. Journal of Peer Production.5.
Nonaka, I. and et, al., 2014. Dynamic fractal organizations for promoting knowledge-based
transformation–A new paradigm for organizational theory. European Management
Journal.32(1). pp.137-146.
Petković, M. and Lukić, J., 2014. New organizational forms supported by the information and
communication technology: the case of Serbian ICT industry. Facta Universitatis,
Series: Economics and Organization. pp.101-115.
Schultz, J. S., André, B. and Sjøvold, E., 2016. Managing innovation in eldercare: A glimpse
into what and how public organizations are planning to deliver healthcare services for
their future elderly. International Journal of Healthcare Management. 9(3). pp.169-180.
Shukla, B. K., Khan, M. S. and Nayak, V., 2016. Barriers, adoption, technology, impact and
benefits of risk based monitoring. International Journal of Clinical Trials. 3(1). pp.9-14.
Zafar, F., Saifullah, R. and Mahmood, Z., 2014. Effective use of ICT and emerging cellular
technologies for health care: E-govt reshaping governance into good
governance. JOEBM. 2. pp.236-41.
Online
5 emerging Themes for 21st century. 2017. [Online]. Available through:
<https://blogs.oracle.com/socialspotlight/5-emerging-themes-for-21st-century-business>.
[Accessed on 5th August 2017].
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