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In 2005, Mckinsey & Company was the world''s largest and most prestigious management consulting organisation, with 7,000 consultants in 82 offices across 44 countries with annual revenues of $3.4 billion. During the dot.com boom, Mckinsey had expanded its business rapidly. Like most other consulting firms, Mckinsey had got carried away in the e-business wave to increase revenues and partner payouts in 2000. When the boom turned to bust, the firm was stuck with far too many consultants and not enough assignments. The utilisation rate of its consultants fell to 52% in 2003, its lowest level in more than 32 years, compared to 64% during the boom. The case describes the entrepreneurial history of the firm and the efforts of the visionary, Marvin Bower in making Mckinsey a global player. The case gives a snapshot of the management consultancy industry. The leadership at Mckinsey and the knowledge management has also been described. The case highlights the real challenge for the new managing partner to continue the growth of the firm. It ends on a debate concerning whether Mckinsey compromised on its core philosophies for growth and would Mckinsey be able to remain a leader in the industry, without compromising its founding values.