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108-464: ONDC is not an application, an intermediary, or software, but a set of specifications designed to foster open interchange and connections between shoppers, technology platforms, and retailers. ONDC was incorporated with the mission and vision of creating an inclusive ecosystem of e-commerce. On 5 July 2021, a nine-member Advisory Council was constituted by Department for Promotion of Industry and Internal Trade (DPIIT). The Quality Council of India (QCI)

216-402: A PowerPoint presentation and a booklet. McKinsey & Company has traditionally charged approximately 25 percent more than competing firms. Its invoices traditionally contain only a single line. A typical McKinsey engagement (called a "study") can last between two and twelve months and involves three to six McKinsey consultants. An engagement is usually managed by a generalist that covers

324-429: A partnership before being legally restructured as a private corporation with shares owned by its partners in 1956. It mimics the structure of a partnership and senior employees are called "partners". The company has a flat hierarchy and each member is assigned a mentor. Since the 1960s, McKinsey's managing director has been elected by a vote of senior directors to work up to three, three-year terms or until reaching

432-476: A "fading empire, where hubris and changing times have diminished the firm's statures." In his February 2020 in-depth article in The Atlantic , Daniel Markovits argues that McKinsey promotes "intellect and elite credentials" and "Meritocrats" over "directly relevant experience". Many of McKinsey's alumni become CEOs of major corporations or hold important government positions. In doing so, they influence

540-462: A 1997 article in The Observer , McKinsey recruited recent graduates and "imbue[d] them with a religious conviction" in the firm, then cull[ed] through them with its " up-or-out " policy. The "up or out" policy, which was established in 1951, meant that consultants that were not being promoted within the firm were asked to leave. By 1997, about one-fifth of McKinsey's consultants departed under

648-677: A McKinsey consultant at the time, published "Make Overhead Cuts That Last" in Harvard Business Review , in which he introduced new rules for scientific management such as "overhead valuation analysis" (OVA). OVA guided McKinsey's "path to downsizing", responding to the "mid-century corporation's excessive reliance on middle management". Neuman wrote that the "process, though swift, is not painless. Since overhead expenses are typically 70% to 85% people-related and most savings come from work-force reductions, cutting overhead does demand some wrenching decisions." In 1976, Ron Daniel

756-489: A Social Sector Office (SSO) in 2008, which is divided into three practices: Global Public Health, Economic Development and Opportunity Creation (EDHOC) and Philanthropy. McKinsey does much of its pro-bono work through the SSO, whereas a Business Technology Office (BTO), founded in 1997, provides consulting on technology strategy. By 2009, the firm consisted of 400 directors (senior partners), up from 151 in 1993. Dominic Barton

864-562: A business magazine, the McKinsey Quarterly . McKinsey has been the subject of significant controversy and is the subject of a criminal investigation into its business practices. The company has been criticized for its role promoting OxyContin use during the opioid crisis in North America , its work with Enron , and its work for authoritarian regimes like Saudi Arabia and Russia . The criminal investigation by

972-424: A lawyer. The firm developed an " up or out " policy, where consultants who are not promoted are asked to leave. In 1937, Bower established a set of rules: that consultants should put the interests of clients before McKinsey's revenues, not discuss client affairs, tell the truth even if it means challenging the client's opinion, and only perform work that is both necessary and that McKinsey can do well. Bower created

1080-740: A month of which 2.1 million is from retail category while 3.4 million from mobility category. Retail purchase has grown from 1,281 in January 2023 to 2.1 million in December 2023. In an attempt to guarantee that consumers and sellers reap the benefits and that a strong e-commerce ecosystem is constructed to endure any disturbance in the physical market, the Indian government has started a feasibility study to integrate all of its associated platforms with ONDC. A test of this kind involves combining E-NAM with ONDC for agricultural commodities. Over 59,000 of

1188-419: A notoriously competitive hiring process and is widely seen as one of the most selective employers in the world. McKinsey recruits primarily from top business schools and was one of the first management consultancies to recruit a limited number of candidates with advanced academic degrees (e.g., PhD) and deep field expertise, and who have demonstrated business acumen and analytical skills. McKinsey publishes

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1296-475: A pilot program to onboard street food sellers in Lucknow and Delhi . 500 street food vendors will be added to the system in each of these cities, and more seller and buyer apps will be added as part of a national rollout. 8.9 million transactions were made in the retail and ride-hailing divisions, according to ONDC, which also saw a 23% increase in total transaction volume month over month. The retail category saw

1404-603: A private consulting agreement, violating McKinsey's policies on confidentiality. Gupta was convicted in June 2012, of four counts of conspiracy and securities fraud , and acquitted on two counts. In October 2011, he was arrested by the FBI on charges of sharing insider information from these confidential board meetings with Rajaratnam. At least twice, Gupta used a McKinsey phone to call Rajaratnam and retained other perks—an office, assistant, and $ 6 million retirement salary that year —as

1512-606: A process to centralize knowledge from each practice area and a resource directory of internal experts." By the end of his tenure in 1988 the firm was growing again and had opened new offices in Rome , Helsinki , São Paulo and Minneapolis . Fred Gluck was McKinsey's managing director from 1988 to 1994. The firm's revenues doubled during his tenure. He organized McKinsey into 72 "islands of activity" that were organized under seven sectors and seven functional areas. By 1997, McKinsey had grown eightfold over its size in 1977. In 1989

1620-556: A record-breaking 200,000 retail transactions in a single day in May 2024, with 5 million orders placed, up from 3.59 million in April 2024. With 630,000 orders in the home and kitchen category, 330,000 orders in fashion, and 2 million orders in other retail subcategories, the grocery and food delivery categories each surpassed the one million order threshold for the first time. The food category made up only 20% of all retail orders, down from 76% in

1728-448: A reference application meant to help companies build their own unique buyer-side applications. Saarthi helps ONDC network users create buyer apps with multilingual functionality . The app currently supports Hindi , English , Marathi , Bengali , and Tamil . The intention is to eventually support all 22 languages . Saarthi's speech recognition , transliteration , and real-time AI -driven translation capabilities help businesses reach

1836-738: A seller has to join a seller platform. After the success of Tez atop Unified Payment Interface (UPI), Google initiated talks with ONDC to integrate Google Shopping with the platform. Ecom Express and Shiprocket are at the final stages of integration as LNP. Paytm from buyer side, GoFrugal, SellerApp, Growth Falcon, eSamudaay, Digiit from seller side and LoadShare from logistics side are successfully integrated with ONDC. StoreHippo started testing of ONDC connected marketplace for small and medium-sized enterprises . Grab integrated as LNP for hyper local intercity delivery on 1 August 2022. As of August, Titan Company , Zoho Corporation , retail intelligence platform Bizom are on advance stages of integration with

1944-474: A senior partner emeritus. After the scandal McKinsey instituted new policies and procedures to discourage future indiscretions from consultants, including investigating other partners' ties to Gupta. In February 2018, Kevin Sneader was elected as managing director. He had a three-year term that began on July 1, 2018. McKinsey has consulted for multiple cities, states and government organizations during

2052-1367: A team of experts and on-boarded some small and medium size industries as volunteers for project execution while DPIIT approved ₹10 crore as initial investment. From November 2021 to March 2022, various public and private sector entities picked up stakes in ONDC by investing seed money to become early promoters. This includes Punjab National Bank (9.5% for ₹25 crore). State Bank of India (7.84% for ₹10 crore). Axis Bank (7.84%). Kotak Mahindra Bank (7.84%). BSE Investments (5.88%). Central Depository Services (6.78%). ICICI Bank (5.97% for ₹10 crore). Small Industries Development Bank of India (7.84% for ₹10 crore). On 23 March 2022, Common Service Centres (CSC) under Ministry of Electronics and Information Technology (MeitY) announced that it will promote ONDC for ecommerce and logictics in rural areas through 3 Lakh Grameen e-Stores. National Payment Corporation of India (NPCI) and National Stock Exchange of India (NSE) committed funding for ONDC as promoters. On 31 August 2022, Ministry of Finance and Reserve Bank of India (RBI) cleared NPCI to acquire 10% stake at ONDC by investing ₹10 crore. Bank of India acquired 5.56% stake by investing ₹10 crore. As of July 2022, more than 20 organisations have committed investment ₹ 255 crore (US$ 31 million) into

2160-713: A technology partner, and MicroSave, a company that offers fair price shops assistance. On 6 February 2024, the first order was placed at 11 fair price stores to kick off the experimental program. The pilot helps fair price stores boost their usage and income from market goods while also giving customers in rural areas access to groceries and other necessities through ONDC. Fair pricing shops on ONDC now provide household groceries that were previously only available at regular kirana stores . These products are available for purchase using ONDC buyer apps, such as Paytm . The National Cooperative Consumers' Federation (NCCF) operates fair price stores all over India. Other states will follow suit with

2268-432: A total sales of ₹4 million in 2023. Because of India Post's extensive network, FPOs leveraged its services to distribute their goods, but since then, more logistic partners have been recruited to guarantee even faster product delivery to customers. Under a central scheme launched in 2020 with a budgetary provision of ₹6,865 crore, nearly 5,000 out of 8,000 registered Farmer Producer Organizations (FPOs) have been onboarded on

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2376-607: A traditional "headquarters"; the managing partner chooses his or her home office. McKinsey & Company provides strategy and management consulting services, such as providing advice on an acquisition, developing a plan to restructure a sales force, creating a new business strategy or providing advice on downsizing, according to the 2013 book, The Firm . The 1999 book, The McKinsey Way said that McKinsey consultants designed and implemented studies to evaluate management decisions using data and interviews to test hypotheses . which were then presented to senior management, typically in

2484-515: A wider audience, penetrate new markets, and attract more clients. Regular security upgrades for Saarthi were promised by ONDC. Scalability and simplicity of integration are key design considerations for the Saarthi reference application. The pilot phase was launched on 29 April 2022 in five cities; New Delhi , Bengaluru , Bhopal , Shillong and Coimbatore . In April, Bengaluru based Woolly Farms received an order from buyer application Paytm. This

2592-753: A year on research. McKinsey was one of the first organizations to fund management research, when it founded the Foundation for Management Research in 1955. The firm began publishing a business magazine, The McKinsey Quarterly , in 1964. It funds the McKinsey Global Institute, which studies global economic trends and was founded in 1990. It also launched the McKinsey Institute for Black Economic Mobility in 2020 to fund research focused on advancing inclusive growth & racial equity globally. Many consultants are contributors to

2700-529: Is actively collaborating with the Ministry of Micro, Small, and Medium Enterprises to connect MSME-Mart, which has over 2 lakh MSMEs, with ONDC and to onboard MSMEs to the network through current seller applications. The "Feet on Street" initiative by ONDC assists Network Participants (NPs) in locating and instructing vendors regarding the advantages of ONDC and the process of joining through seller applications. It also provides handholding support to sellers during

2808-490: Is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926 by James O. McKinsey , McKinsey is the oldest and largest of the "MBB" management consultancies (MBB) . The firm mainly focuses on the finances and operations of their clients. Under the direction of Marvin Bower , McKinsey expanded into Europe during

2916-705: Is attempting to integrate all Agri-tech and Non Agri-tech ecommerce platforms into common network while these companies build solutions that can further accelerate the adoption and establish market linkage for Farmer Producer Organizations. Government of Uttar Pradesh started actively promoting One District One Product (ODOP) scheme on ONDC. DPIIT will initiate integration of Union Government Ministries and various departments under State Governments with ONDC. The platform will try to rectify issues registered with National Consumer Helpline like delivery of wrong, defective, damaged goods, non-delivery or delayed delivery, failed refunds or violation of service agreements. Government

3024-529: Is compared to Unified Payments Interface (UPI). The ONDC uses "free softwared methodology, open specifications and open network protocol". On the ONDC, the consumers and merchants can transact goods and services independent of platform or application. Beckn will provide the technology and specification layer on which ONDC will design the network policies, network trust, network grievance handling and network reputation system. ONDC plans on implementing dynamic pricing model, digitised inventory management and optimise

3132-578: Is credited with founding the firm's principles and strategy as his deputy. The New York office purchased exclusive rights to the McKinsey name from the former McKinsey Chicago office which was separated with AT Kearney in 1946. McKinsey & Company grew quickly in the 1940s and 1950s, especially in Europe. It had 88 staff in 1951 and more than 200 by the 1960s, including 37 in London by 1966. In

3240-612: Is designing a neutral, transparent reputation index for sellers. Amazon is working with ONDC to digitise Kirana stores . Sequoia Capital , SoftBank Group and Indian Venture Capital Association started pushing portfolio companies they invested in to actively take part in ONDC. Microsoft announced that it is going to join ONDC to introduce social commerce in India and will also launch a shopping app for buyers to help them in price discovery. From August 2022 to January 2024, PhonePe will invest $ 15 million for developing ecommerce platform on

3348-414: Is facing teething troubles with respect to address and geolocation APIs . From September, Bengaluru will become the first city to get all user access. By 2024, ONDC is planning to bring 3 crore sellers and 30 crore shoppers on the network. On 31 August 2022, government announced that ONDC will move to beta-testing phase for general public. ONDC will charge fee from sellers for maintenance and development of

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3456-625: Is not fixed and will be decided by market forces. Small retailers are also less to fear that the platform will open dark stores . Restaurants will have access to customer data. From 15 October 2022, ONDC initiated outreach program for restaurants and cloud kitchens in Bengaluru. From December 2022, public beta will rollout in Delhi and Mumbai. From March 2023, ONDC will start network-wide scoring of sellers. This network-wide rating will include elements of feedback regarding transactions and performance of

3564-649: Is planning to integrate One District One Product scheme with ONDC. IDFC First Bank joined ONDC on 8 September 2022 and will push its current account holders to use the network for business transaction. During talks at Stanford University , Piyush Goyal clarified that through ONDC India is interested in creating multiple unicorns instead of few trillion dollar eCommerce companies. ONDC signed MoU with Government of Madhya Pradesh on 22 November 2022 to increase local adoption, sprint programming and software development. ONDC will incorporate mobility, hospitality and travel sectors. As per McKinsey & Company , by 2030 ONDC has

3672-413: Is planning to leverage the incubators under Startup India Seed Fund Scheme (SISFS) to build applications for ONDC with vernacular language support for greater accessibility. ONDC restricted referral commission of sending a buyer to a shopper at 3% compare to 30% in major eCommerce platforms. From 21 cities, the pilot phase moved to 51 cities by third week of August. The Economic Times reported that ONDC

3780-426: Is raising concerns on the liability of network participants for consumer complaints and the implementation of ecommerce rules on various stakeholders. There is also pertaining questions regarding third-party network policy audits and whether it will include search algorithms. Experts are discussing how stakeholders can make sure that any entity developing both buyer and seller side app on ONDC must be stopped from gaming

3888-469: Is supported by Beckn Foundation. Beckn brand is owned by Open Shared Mobility Foundation in which Nandan Nilekani is the sole investor. It facilitates the third layer of public digital infrastructure that is the digital transaction layer in an open digital ecosystem. This helps promote market competition and regulate anti-competitive behavior. The development came after failure of US standard bodies to set new standards and left it to Big Tech companies to solve

3996-445: Is to resolve future dispute or discrepancy. Mahindra Logistics will provide same-day and next-day intra-city and inter-city pick-up and delivery services to all sellers on ONDC. Logistics company XpressBees will help ONDC offer pan-India delivery services to over 2,800 cities and 20,000 pincodes. On 19 December 2023, ONDC announced two distinct partnerships with Google and Meta Platforms in order to increase platform awareness through

4104-593: The 2019 coronavirus pandemic . During the first four months of the pandemic, McKinsey obtained in excess of $ 100 million in consulting work, including no-bid contracts with the United States Department of Veterans Affairs and Air Force . The reopening guidelines for Florida's Miami-Dade County , produced with McKinsey's input, were criticized by local media and officials for complexity and lack of clarity. McKinsey discontinued its investment banking advisory unit in 2021, citing "personnel matters" as

4212-486: The Harvard Business Review . McKinsey consultants published only two books from 1960 to 1980, then more than 50 from 1980 to 1996. McKinsey's publications and research give the firm a "quasi-academic" image. A McKinsey book, In Search of Excellence , was published in 1982. It featured eight characteristics of successful businesses based on an analysis of 43 top performing companies. It marked

4320-645: The US Justice Department , with a grand jury to determine charges, is into its role in the opioid crisis and obstruction of justice related to its activities in the sector. McKinsey & Company was founded in Chicago under the name James O. McKinsey & Company in 1926 by James O. McKinsey , a professor of accounting at the University of Chicago . He conceived the idea after he had witnessed inefficiencies in military suppliers while he

4428-485: The 1940s and 1950s. In the 1960s, McKinsey's Fred Gluck —along with Boston Consulting Group 's Bruce Henderson , Bill Bain at Bain & Company , and Harvard Business School 's Michael Porter —initiated a program designed to transform corporate culture . A 1975 publication by McKinsey's John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management . McKinsey has

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4536-605: The 2.3 lakh sellers and service providers that have been on-boarded by different seller platforms are food and beverage suppliers, according to Som Parkash , Minister of State for Commerce and Industry . In order to educate its members about the advantages of the ONDC platform, ONDC collaborates closely with the National Restaurant Association of India (NRAI) and the Federation of Hotel & Restaurant Associations of India (FHRAI). In addition, ONDC

4644-614: The Ministry of Commerce, ONDC is flourishing with weekly 13K+ retail orders (avg.) and 36k+ mobility rides per day. As of 27 November 2023, DTDC is operational on ONDC. On 12 January 2024, Hyperlocal Pharmacy Aggregator MedPay became a member of ONDC. Customers can now access its drugstore network via third-party buyer apps. Senco Gold & Diamonds became the first jewellery brand to join ONDC. On ONDC, 4,000 farmers producer organizations (FPOs) have offered up to 3,100 different types of value-added agricultural products since April 2023. By

4752-685: The New York-based McKinsey, Wellington & Co. and splitting off the accounting practice into Chicago-based Wellington & Company. A Wellington project that accounted for 55 percent of McKinsey, Wellington & Company's billings was about to expire and Kearney and Bower had disagreements about how to run the firm. Bower wanted to expand nationally and hire young business school graduates, whereas Kearney wanted to stay in Chicago and hire experienced accountants. In 1937, James O. McKinsey died after catching pneumonia. This led to

4860-527: The ONDC Advisory Council is Anil Agrawal Additional Secretary from Department for Promotion of Industry and Internal Trade under Ministry of Commerce and Industry . Some of the members are volunteers of ISPIRT . Supriyo Ghosh is the chief architect behind ONDC. As per ONDC Advisory Council, a total of seven apps that include one from buyer side, five from seller side and one from logistics service provider side completed cascaded transactions in

4968-693: The ONDC portal for selling the produce online to consumers across the country, against the Ministry of Agriculture and Farmers' Welfare 's target of 10,000. Department for Promotion of Industry and Internal Trade Too Many Requests If you report this error to the Wikimedia System Administrators, please include the details below. Request from 172.68.168.237 via cp1104 cp1104, Varnish XID 208029965 Upstream caches: cp1104 int Error: 429, Too Many Requests at Thu, 28 Nov 2024 07:51:56 GMT McKinsey %26 Company McKinsey & Company (informally McKinsey or McK )

5076-508: The Startup India platform, Google Cloud , Antler, Protean, and Paytm , the program was launched in December 2023. With experts, leaders, venture capitalists, and incubators present, it was held in over 50 cities. On 28 June 2024, the hackathon's second edition was introduced in three categories: foundation solutions, scalable solutions, and next-generation initiatives. On September 11, 2024, ONDC and Bhashini jointly released Saarthi,

5184-871: The advisory council is to watch over ONDC implementation in the country. The members were selected based on their experience in fields such as technology, finance, commerce etc. Members included Nandan Nilekani co-founder of Infosys , Anjali Bansal founder of Avaana Capital, R S Sharma Chief Executive Office National Health Authority , Adil Zainulbhai Chairman of Quality Council of India and Capacity Building Commission, Arvind Gupta Co-founder and Head of Digital India Foundation, Dilip Asbe Managing Director and chief executive officer at National Payment Corporation of India , Suresh Sethi Managing Director and chief executive officer at National Securities Depository Limited , Praveen Khandelwal Secretary-General of Confederation of All India Traders and Kumar Rajagopalan Chief Executive Office at Retailers Association of India . Convener of

5292-622: The article, McKinsey was cited as claiming that its consultants were not motivated by money, and that partners talked to each other with "a sense of personal affection and admiration". The article described a culture clash that occurred in the early 1990s, leading to the departure of 151 out of the 254 ICG staff members. In their 1997 book Dangerous Company: Management Consultants and the Businesses They Save and Ruin , authors James O'Shea and Charles Madigan said that McKinsey's culture had often been compared to religion , because of

5400-496: The beginning of McKinsey's shift from accounting to "softer" aspects of management, like skills and culture. According to David Guest from King's College , In Search of Excellence became popular among business managers because it was easy to read, well-marketed and some of its core messages were valid. However, it was disliked by academics because of flaws in its methodology. Additionally, a 1984 analysis by BusinessWeek found that many of those companies identified as "excellent" in

5508-697: The company performed more than 1,000 e-commerce projects from 1998 to 2000 alone. An October 1, 2000, article in the New York Times described the compulsory mini-courses that McKinsey—and its two largest rivals Boston Consulting and Bain—offered their "hyper-educated" young new recruits. Once completed, these newly certified management consultants would begin their work of "advising the executives of multibillion-dollar companies" on "projects" not related to their academic backgrounds"—"[l]awyers would help packaged-foods companies develop new products, and physicists would tell Internet start-ups how to stand out from

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5616-519: The company. Using the Mystore online marketplace, the Odisha-based farmers' cooperative Daringbadi Farmers Producer Company supplied Geographically Indicated (GI)-tagged turmeric powder to customers in 11 states. With the goal to raise sales to ₹10 million by 2024, BASIX Krishi Samruddhi, a group that has assisted 59 FPOs into ONDC across Odisha, West Bengal, Bihar, and Uttar Pradesh, reported

5724-469: The crowd." The burst of the dot-com bubble led to a reduction in utilization rates of McKinsey's consultants from 64 to 52 percent. Though McKinsey avoided dismissing any personnel following the decline, the decline in revenues and losses from equity-based payments as stock lost value, together with a recession in 2001, meant the company had to reduce its prices, cut expenses and reduce hiring. In 2001, McKinsey launched several practices that focused on

5832-473: The delivery cost to help reduce cost of doing business for everyone on the platform. ONDC will work on a hyper local search engine model based on GPS proximity data as default setting. The buyer can independently select the seller and logistics partner to complete the order. The backend of the ONDC is built on Beckn Protocol, an open and interoperable protocol for decentralised digital commerce. Beckn Gateways provides anonymised aggregated data generated from

5940-407: The division of McKinsey, Wellington & Company in 1939. The accounting practice returned to Scovell, Wellington & Company, while the management engineering practice was split into McKinsey & Company and McKinsey, Kearney & Company. Bower had partnered with Guy Crockett from Scovell Wellington, who invested in the new McKinsey & Company and became managing partner, while Marvin Bower

6048-527: The e-Grameen app. The sellers who have registered on the CSC platform will be able to accept orders over the ONDC network during the second phase. In Himachal Pradesh , Ministry of Consumer Affairs, Food and Public Distribution started a pilot program to add fair price stores to ONDC. The program is being funded as a pilot by the Department of Food and Public Distribution (DFPD) in collaboration with nStore,

6156-456: The effectiveness of order and catalog management. Participants will receive an e-certificate designating their company as DigiReady to onboard one of the network seller partners upon satisfactorily answering all critical questions. Anyone who answers a question wrong will be sent to a hand-holding tool to help them become more proficient in the appropriate module so they can answer questions correctly. Seller Applications will contact entities to make

6264-436: The end of 2022, ONDC will go live at national level covering the entire country. ONDC expanded to Noida , Faridabad , Lucknow , Bijnor , Bhopal , Chhindwara , Kolkata , Pune , Chennai , Kannur , Thrissur , Udupi , Kanchipura , Pollachi , Mannar and Ramnathpuram on 18 July 2022. ONDC activated ecommerce in agriculture domain on 20 June 2022 with National Bank for Agriculture and Rural Development (NABARD). ONDC

6372-629: The end of FY24, 6,000 FPOs are expected to be on ONDC. FPO Rich Returns, situated in Rajasthan, sold ₹2,00,000 worth of millet based products, garlic papadam , and chickpea items through Mystore in November 2023. Aryahi Fed Farmers Producer Company, a collective of 673 farmers located in Uttar Pradesh, is among the first to sell more than ₹5,00,000 worth of honey and millet based valued added products through Mystore within six months of joining

6480-1162: The end of September 2022. The system needs to be robust and competitive. Third-party agency will handle Online Dispute Resolution (ODR) by checking digital trail left by individual orders. Customers can check complaint status and how many are resolved. It will involved in the final rating of the merchants. ONDC will record all complaints filed against a merchant which will be linked directly to the network-wide reputation index that tabulates percentages of complaints raised, resolved or not resolved, as well as those that consumers may choose to take to consumer courts . The draft ODR policy will published by an expert committee of NITI Aayog . ONDC dashboard will publish monthly statistics of complaints received by seller side apps. On 2 September 2022, ONDC invited public feedback on Issue and Grievance Management Structure (IGMS) resolving buyer and seller complaints. The mechanism will be similar to what non-profit company Sahamati uses for their Account Aggregator Network but much faster and traceable. According to Consumer Affairs Secretary Rohit Kumar Singh, in order for customers to receive satisfactory services, ONDC must address

6588-536: The firm had a "button-down culture" focused on "playing by the rules". In his 2013 book, The Firm: The Story of McKinsey and Its Secret Influence on American Business , Duff McDonald described how McKinsey's consultants were expected to become a part of the community and recruit clients from church, charitable foundations, board positions and other community involvements. McDonald wrote that McKinsey calls itself "The Firm" and its employees "members". BusinessWeek summarized The Firm ' s description of McKinsey as

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6696-650: The firm tried to acquire talent in IT services through a $ 10 million purchase of the Information Consulting Group (ICG), but a culture clash caused 151 out of the 254 ICG staff members to leave by 1993. In 1994, Rajat Gupta became the first non-American-born partner to be elected as the firm's managing director. By the end of his tenure, McKinsey had grown from 2,900 to 7,700 staff and 58 to 84 locations. He opened new international offices in cities such as Moscow , Beijing and Bangkok . Continuing

6804-592: The firm's principle of only working with CEOs, which was later expanded to CEOs of subsidiaries and divisions. He also created McKinsey's principle of only working with clients the firm felt would follow its advice. Bower also established the firm's language. In 1932, the company opened its second office in New York City . In 1935, McKinsey left the firm temporarily to be the chairman and CEO of client Marshall Field's . In 1935, McKinsey merged with accounting firm Scovell, Wellington & Company, creating

6912-760: The firm's revenues declined. New competitors like the Boston Consulting Group and Bain & Company created increased competition for McKinsey by marketing specific branded products, such as the Growth–Share Matrix , and by selling their industry expertise. In 1971, McKinsey created the Commission on Firm Aims and Goals, which found that McKinsey had become too focused on geographic expansion and lacked adequate industry knowledge. The commission advised that McKinsey slow its growth and develop industry specialties. In 1975, John L. Neuman,

7020-484: The firm, since it prides itself on integrity and client confidentiality. McKinsey no longer maintains a relationship with either senior partner. Senior partner Anil Kumar, described as Gupta's protégé, left the firm after the allegations in 2009, and pleaded guilty in January 2010. While he and other partners had been pitching McKinsey's consulting services to the Galleon Group, Kumar and Rajaratnam reached

7128-474: The influence, loyalty and zeal of its members. The firm has a policy against discussing specific client situations. A September 1997 The News Observer story said that McKinsey's internal culture was "collegiate and ruthlessly competitive" and has been described as arrogant. Ethan Rasiel's 1999 book entitled The McKinsey Way , described a culture at McKinsey's whereby members were not supposed to "sell" their services. The Sunday Times wrote that McKinsey

7236-739: The issue. Beckn Protocol is a substitute for and compatible with the similar protocols developed by US that are in use globally for transactions and sending information between computers. Success of UPI gave further impetus to develop more open-source ecosystem in other areas at national scale. Microsoft and Oracle Corporation are looking for partnership to supply technology solutions which can add value to base ONDC network by helping companies scale up their operations. They are part of an industry working group for developing buyers, sellers and logistics provider registry, network reputation index and online dispute resolution framework. To ease on-boarding process, Microsoft started providing sellers toolkit. Oracle

7344-741: The liability issue. Additionally, he alerted T Koshy, CEO of ONDC, of the problem, saying that without it, ONDC could not be able to serve customers. As of 12 May 2022, Flipkart , Reliance Retail and Amazon started talks with ONDC officials. As Logistics Network Partners (LNP), Ekart and Dunzo joined ONDC. Paytm and PhonePe which is in advance stage of integration will act as Payment Network Partners (PNP) for ONDC. PhonePe planning to join ONDC both from buyers and sellers side. Till 15 May 2022, 24 ecommerce platforms are joining ONDC. Paytm Mall confirmed joining ONDC network with primary focus on exports. As of July 6, 200 sellers are active in grocery, and food and beverage category. To access ONDC,

7452-420: The mandatory retirement age of 60. The firm is also managed by a series of committees that each has its own area of responsibility. By 2013, McKinsey was described as having a decentralized structure, whereby different offices operate similarly, but independently. The company's budgeting is centralized, but individual consultants are given a large degree of autonomy. As a global firm McKinsey does not have

7560-464: The milestone of 5,000 daily orders in foods & beverages, and grocery category and on average 6,000 orders during weekends. It crossed the mark of 10,000 orders on 30 April 2023. As of 24th May 2023, ONDC achieved a grand one-year milestone after completing 1 year of operation. It expanded over 236 cities of India. Now, it has approximately 36,000 sellers and over 45 network participants. It has scaled its operations in more than 8 categories. According to

7668-424: The network. By allowing the integration of CSC's e-Grameen app on the ONDC network as a buyer application, Common Services Centers (CSCs), under the Ministry of Electronics and Information Technology (MEitY), have teamed with the ONDC to make e-commerce accessible to rural communities. During the initial stage, CSC will function as a buyer-side platform, enabling citizens who visit the center to place orders using

7776-487: The network. Amazon is exploring how to integrate with the network. Zoho Corporation will provide technical support and facilitate live chat among buyers and sellers. To streamline payment process for buyers, sellers and logistics partners, Razorpay is going to integrate payment reconciliation service on ONDC to provide single view of all transactions. It will be available to all network participants and will validate every transactions with audit trail for documentation. This

7884-502: The network. Blowhorn integrated itself with ONDC as logistics network partner to perform last mile delivery and is in final phase of testing. They will go live from fourth week of September 2022. Menson will onboard 11,500 restaurants on ONDC. Crowdsourced third-party logistics platform Shadowfax integrated with ONDC on 19 October 2022. Kochi Open Mobility Network (KOMN) will integrate with ONDC to make transporters in Kerala discoverable on

7992-578: The network. IDBI Bank , India Post , Marico , Airtel are also interested in joining ONDC. Dunzo for Business (D4B) has joined ONDC as LNP on 4 August to provide last mile delivery for business to business (B2B) transaction. By the end of August, SellerApp will onboard 3,000+ retail stores from Bengaluru. Innoviti Payment Solutions is integrating seller side app for small merchants on ONDC to publish their goods and offer credit to buyers. Business banking solution provider Zyro joined ONDC from seller side. They will help small retailers create digital stores on

8100-459: The network. On 23 November 2022, Meesho joined the network and started the pilot project in Bengaluru. On 24 February 2023, Amazon announced integration of its logistics network and Smart Commerce Services with ONDC. Within the first year of operations, 31,000 merchants with 37 lakh products are registered with the network. In mobility space, 56,000 vehicles registered with ONDC with a daily average ride of 20,000. As of 24 April 2023, ONDC completed

8208-593: The network. The interoperability achieved by unbundling packet transmission layer from experience layer so that the core of commercial transactions such as discovery, order booking, payment, delivery and fulfillment can happen in a standardised manner. It can be customised based on the requirement of customer and provider by taking modular approach. Beckn is not ecommerce specific and can be used in other area of digital public infrastructure like healthcare, mobility etc. Nandan Nilekani, Pramod Varma and Sujith Nair developed Beckn Protocol in partnership with ISPIRT . The project

8316-598: The network. To make transition to ONDC easier, Yes Bank is working with SellerApp for business enterprise customers. As per Nandan Nilekani, the Account Aggregator Network (AAN) will work alongside ONDC which will allow everyone in the supply chain to access formal credit in an efficient manner. ONDC signed MoU with Jammu and Kashmir Trade Promotion Organization (JKTPO) on 25 August 2022 to increase eCommerce adaptation in Jammu and Kashmir . Union government

8424-739: The non-mobility category. These numbers have increased by 10% and 7.6%, respectively. Groceries generated almost one million transactions, while the food and beverage category made the largest contribution in the non-mobility space with two million. The fashion section has recorded 11 million transactions, compared to 9 million in September. In October 2023, ONDC recorded just 4.5 million transactions, but year-over-year, its transactions have increased by 200 percent. ONDC will start testing B2B commerce from December 2022. Network participants initiated ONDC process integration from November. These are some helpful links to read more about ONDC. The primary role of

8532-561: The on-boarding process easier for them when they are DigiReady and give their permission. The ONDC distributed equity capital of up to $ 250,000 for Antler as part of the initiative. Additionally, teams that can devise original solutions to challenging business issues in the nation's e-commerce environment will receive $ 100,000 in Google Cloud credits. There were 27,000 participants in all, including businesses, startups, and academic institutions from all around India. In cooperation with

8640-475: The on-boarding process for small businesses. From 2024, Meta will concentrate on monetization via the ONDC platform. Additionally, Google Maps will integrate more public transportation options. In order to enable 500,000 micro, small and medium-sized enterprises ( MSMEs ) create conversational buyer and seller experiences on WhatsApp and move them into the digital platform, Meta and ONDC will collaborate to develop digital skills. A Memorandum of Understanding (MoU)

8748-806: The onboarding process and in developing an entry-level basic catalogue. An additional project is the ONDC Academy, a collection of instructive and enlightening textual and video content that offers curated learning experiences, best practices, and advice for every member of the ONDC network to have a successful e-commerce journey. In February 2024, ONDC fulfilled over 7.1 million orders in total. ONDC exceeded 6.75 million cumulative orders in January 2024. Of them, 3.56 million (or 52.8%) were orders related to mobility, and 3.19 million (or 47.2%) were non-mobility orders. Currently, over 370,000 vendors and service providers use ONDC. More than 800 cities have seen transaction fulfillment from ONDC. Additionally, ONDC has started

8856-666: The other organizations with McKinsey's values and culture. McKinsey's alumni have been appointed as CEOs or high-level executives. In his 2010 publication, The Lords of Strategy: The Secret Intellectual History of the New Corporate World , business journalist Walter Kiechel traced the roots of a profound change in corporate management to "four mavericks" in the 1960s—Fred Gluck at McKinsey & Company, Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School professor, Michael Porter. Kiechel recounted how they "revolutionized

8964-455: The pilot phase for grocery, food and beverage segment using Beckn Protocol as of 23 June 2022 in all the five cities. ONDC Advisory Council tasked to increase awareness and initiate a pilot phase among offline traders, handicraft artisans to prioritise their on-boarding. From 24 June 2022, ONDC Advisory Council started working on network expansion, governance and upgrade for the platform before nationwide rollout. The major objectives include: It

9072-541: The position of managing director. Davis promised a return to the company's core values after a period in which the firm had expanded rapidly, which some McKinsey consultants felt was a departure from the company's heritage. Also in 2003, the firm established a headquarters for the Asia-Pacific region in Shanghai . By 2004, more than 60 percent of McKinsey's revenues were generated outside the U.S. The company started

9180-477: The potential to increase digital consumption in India by $ 340 billion. On 6 August 2024, Government of Nagaland and ONDC signed MoU for supporting digital sales of small companies, farmers, craftsmen, and entrepreneurs. Ilandlo Services has been appointed as the nodal agency. The DigiReady Certification portal was launched, as announced by ONDC and the Quality Council of India on 8 February 2024. Through

9288-423: The previous year. In terms of Network orders, Delhi, Uttar Pradesh, and Maharashtra continued to be the top three states. Bihar recorded a 42% increase in orders, while Uttar Pradesh saw nearly twice as many. Compared to 12.90 million transactions in September 2024, ONDC saw a 7.6 percent increase to 14 million transactions in the month of October 2024. 5.5 million came from the mobility category and 8.4 million from

9396-610: The project such as UCO Bank , HDFC Bank . Bank of Baroda etc. HDFC Bank acquired 7.84% stake of ONDC. In April, ONDC had received ₹157.5 crore for first stage of the project from 17 banks and financial institutions. For the pilot project, eSamudaay will help in dealing with consumer facing interface, Gofrugal Technologies supplied enterprise resource planning software, GrowthFalcons for digital marketing and SellerApp will help sellers with automation and provide digital insight on sales. On 9 August 2022, SIDBI signed memorandum of understanding (MoU) with ONDC to bring small industries on

9504-401: The public and social sector. It took on many public sector or non profit clients on a pro bono basis. By 2002, McKinsey had invested a $ 35.8 million budget on knowledge management , up from $ 8.3 million in 1999. Its revenues were 50, 20, and 30 percent from strategy, operations, and technology consulting, respectively. In 2003, Ian Davis , the head of the London office, was elected to

9612-422: The reason. In 2021, McKinsey's Australian office made two acquisitions, Hypothesis, a digital product development company, and Venturetec, an innovation consulting firm. On June 1, 2022, McKinsey announced that it had acquired Caserta, a data engineering firm. In March 2023, McKinsey announced a layoff of 1,400 employees, in a rare job cut of the company. McKinsey & Company was originally organized as

9720-482: The region the client's headquarters are located in and specialists that have either an industry or functional expertise. Unlike some competing consulting firms, McKinsey does not hold a policy against working for multiple competing companies (although individual consultants are barred from doing so). McKinsey & Company was the first management consultancy to hire recent graduates instead of experienced business managers, when it started doing so in 1953. According to

9828-555: The same year, McKinsey had six offices in major US cities, including San Francisco , Cleveland , Los Angeles and Washington D.C. , as well as six abroad. These foreign offices were primarily in Europe , such as in London , Paris , and Amsterdam , as well as in Melbourne . By this time, one third of the company's revenues originated from its European offices. Guy Crockett stepped down as managing director in 1959, and Marvin Bower

9936-654: The sellers including the extent of grievance resolution. As of 16 January 2023, ONDC completed 4,000 successful transactions as part of beta testing. NPCI Bharat Bill Payment System launched NOCS platform that will provide reconciliation and settlement services for ONDC transactions. It will be integrated with banks, fintechs and e-commerce players. Initially it will go live with AU Small Finance Bank , Axis Bank , HDFC Bank , IDFC First Bank , and YES Bank . During Diwali week, ONDC recorded nearly 1.2 million transactions from 6 November to 13 November 2023 across 600+ cities. In December 2023, ONDC touched 5.5 million transactions in

10044-411: The structure developed by prior directors, Gupta also created 16 industry groups charged with understanding specific markets and instituted a three-term limit for the managing director. McKinsey created practice areas for manufacturing and business technology in the late 1990s. McKinsey set up "accelerators" in the 1990s, where the firm accepted stock -based reimbursement to help internet startups ;

10152-700: The system . Companies and ONDC are also trying to resolve the issue of network disruption liability and uptime guarantee. Private sector is waiting for traction before they make any big, long term investment on ONDC. According to JM Financial , ONDC getting data, algorithms of customer buying behavior from larger e-commerce players is a challenge. ONDC framework limits data usage and storage which affects interoperability. As per CEO T Koshy, ONDC will not subsidize pricing for customers using shareholders money. Instead it will focus more on innovation and special value addition to product. Government told ONDC to prepare detail report on grievance redressal mechanism and submit it by

10260-481: The trial project's success. The public beta was rolled out on 30 September 2022 in Bangalore Urban district . On the first day, LoadShare processed 100 orders. Paytm app faced issue over missing order option. There is also one order cancellation from merchant side. As per government, ONDC will charge 8–10% of the selling price of the product compare to 18–40% charged by Amazon and Flipkart. The commission rate

10368-408: The up or out policy each year. McKinsey's practice of hiring recent graduates and the "up-or-out" philosophy, were originally based on Marvin Bower's experiences at the law firm Jones Day in the 1930s, as well as the " Cravath system " used at the law firm Cravath, Swaine and Moore . In recent years, it has consistently been recognized by Vault as the most prestigious consulting firm employer in

10476-401: The use of WhatsApp and Google Maps . It will aid in increasing the number of monthly transactions between big businesses and retail customers on the platform. Kochi Metro will be integrated with Google Maps by ONDC, enabling customers to purchase tickets straight from the app by utilizing the ONDC framework. Meta is planning to incorporate the ONDC framework into WhatsApp in order to expedite

10584-424: The use of this online self-assessment tool, small and medium-sized enterprises can determine how well-equipped they are to join the ONDC platform as vendors. The certification procedure assesses a number of digital readiness factors, such as the availability of the paperwork required for online operations, the user's familiarity with software and technology, the ability to integrate with current digital processes, and

10692-836: The way we think about business, changed the very soul of the corporation, and transformed the way we work," according to the Harvard Business Press synopsis. McKinsey has been either directly involved in, or closely associated with, a number of notable scandals, involving Enron in 2001, Galleon in 2009, Valeant in 2015, Saudi Arabia in 2018, China in 2018, ICE in 2019, an internal conflict of interest in 2019 and Purdue Pharma in 2019, among others. By 2019, major news outlets, including The New York Times and ProPublica , had raised concerns about McKinsey's business practices. McKinsey & Company consultants regularly publish books, research and articles about business and management. The firm spends $ 50–$ 100 million

10800-589: The world. In 2018, 800,000 candidates applied for 8,000 jobs. While many recruits have MBAs, by 2009, less than half of the firm's recruits were business majors; by 1999, recruits had advanced degrees in science, medicine, engineering or law. A November 1, 1993, profile story in Fortune magazine said that McKinsey & Company was "the most well-known, most secretive, most high-priced, most prestigious, most consistently successful, most envied, most trusted, most disliked management consulting firm on earth". In

10908-478: Was a pioneer in the industry—the "first firm to hire MBA graduates from the top business schools to staff its projects, rather than relying on older industry personnel." They were still trying to keep a "very low profile public image" in 2005. That year, an article in The Guardian said that McKinsey "hours are long, expectations high and failure not acceptable". According to an October 2009 Reuters article,

11016-408: Was elected as managing director, a role he was re-elected for in 2012 and 2015. Rajat Gupta along with another McKinsey executive, Anil Kumar , were among those convicted in a government investigation into insider trading for sharing inside information with Galleon Group hedge fund owner Raj Rajaratnam . Though McKinsey was not accused of any wrongdoing, the convictions were embarrassing for

11124-422: Was elected in his place. McKinsey's profit-sharing, executive and planning committees were formed in 1951. The organization's client base expanded especially among governments, defense contractors, blue-chip companies and military organizations in the post– World War II era. McKinsey became a private corporation with shares owned exclusively by McKinsey employees in 1956. After Bower stepped down in 1967,

11232-443: Was elected managing director, serving until 1988. Daniel and Fred Gluck helped shift the firm away from its generalist approach by developing 15 specialized working groups within McKinsey called Centers of Competence and by developing practice areas called Strategy, Operations and Organization. Daniel also began McKinsey's knowledge management efforts in 1987. This led to the creation of an IT system that tracked McKinsey engagements,

11340-540: Was signed by ONDC and Dhiway to collaboratively develop an interoperable distributed ledger network as a scoring repository called Confidex using CORD, an open-source, layer-one distributed ledger framework. With the goal of making the entire e-commerce process—from on-boarding to payment reconciliation—simpler, Zoho Corporation introduced Vikra on September 25, 2024. Vikra enables businesses to generate product catalogues, sell through platforms like Paytm , Ola , and Snapdeal , and onboard employees more quickly. Industry

11448-400: Was tasked with incubating the ONDC based on open source methodologies using open specifications and network protocols . It incorporates inventory, logistics, dispute resolution and is planning to cover 25% of domestic digital commerce within two years of launch. ONDC will unbundle delivery services so that customers can choose their own logistics provider. Till 26 October 2021, QCI established

11556-663: Was the first transaction on ONDC. Restaurant management platform Petpooja partnered with marketing agency GrowthFalcons to onboard food and beverage brands on ONDC network. They help restaurants with discovery and demand analytics. On 5 May 2022, GrowthFalcons, Paytm and logistics company LoadShare successfully completed the first live cascaded transaction on ONDC. The delivery happened on Petpooja point of sale (PoS) terminal. By August 2022 all systems will become operational. ONDC will start servicing 100 cities and will also open for wider public use in Bengaluru, New Delhi, Coimbatore, Bhopal and Shillong where pilot projects are ongoing. By

11664-510: Was working for the United States Army Ordnance Department . The firm called itself an "accounting and management firm" and started out giving advice on using accounting principles as a management tool. McKinsey's first partners were AT Kearney , hired in 1929, and Marvin Bower , hired in 1933. Bower is credited with establishing McKinsey's values and principles in 1937, based on his experience as

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