Yet another slap on the wrist. This settlement is just a drop in the bucket for McKinsey. The work it did for Purdue Pharma might meet lawful standards, but whatever happened to ethics? Wasn’t there a huge outcry about B-Schools ethics after Enron’s collapse and the role ex-McKinsey folks played?
“We recognize that we did not adequately acknowledge the epidemic unfolding in our communities or the terrible impact of opioid misuse.”
How could they not see this? Isn’t this the firm that made frameworks like MECE famous? Weren’t they taught to think about the “Situation,” “Complication,” and “Resolution” in every engagement?
Unfortunately, I don’t think this is a one-off. The firm has some major problems when it comes to ethical behavior. It was not that long ago there was a major expose of McKinsey’s role in the 2018 South African Utilities scandal.
How it moves forward from this will be interesting to watch. But, if history is any indication, I don’t think much will change unless McKinsey addresses its hiring practices and training programs.
