McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions. It is recognized as one of the most prestigious firms in the consulting industry and has been a top employer for new MBA graduates since 1996. McKinsey & Company, while formally organized as a corporation, functions as a partnership in all important respects. Its managing director is elected for a three-year term by the firm's other senior partners. Each managing director can... serve a maximum of three terms, a policy instituted by Rajat Gupta. At a strategic level, a number of committees are charged with the development of policies and making critical decisions. Committee memberships, senior roles, and the managing director position all rotate regularly among the firm's senior partners and directors. Former managing director Rajat Gupta explains McKinsey's structure as follows: It is very much, in many dimensions, like an academic organization. We have senior partners who are very much like tenured faculty: they are leaders in their own right.
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