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Executives and their consultants had legitimate reasons for wanting to reimagine the American corporation. Cheap, high-quality Japanese products were challenging U.S. manufacturers, especially in the auto industry, prompting General Motors once again to seek help from McKinsey. But instead of focus…

Other top companies dangle promises of riches and the status that comes with them. McKinsey offers that, but also something more—the opportunity for young recruits to use their talents for a higher purpose, to make the world a better place. “Change that matters,” McKinsey tells job candidates, a sa…

At Disneyland, though, the process evolved primarily into a mandate to cut expenses. Using terms like “cost avoidance,” McKinsey recommended cutting back on park maintenance, eliminating jobs, paying some people less, and hiring outside contractors. In a broadly unpopular move, most maintenance wor…

U.S. Steel regrouped and in 2018 created a new plan and a new slogan.

“Underlying our efforts,” the company wrote, “is our belief that we must operate as a principled company committed to a code of conduct that is rooted in our Gary Principles and our core values.” Those core values are “articul…

The layoffs and safety concerns did not dissuade U.S. Steel from going forward with its plan to issue 21.7 million new shares of stock. This special stock offering, which raised $482 million, occurred in August, the same month the union accused the company of gutting its maintenance department. Ang…