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CASE IN POINT Case Question Workshop

CASE IN POINT Case Question Workshop. Marc P. Cosentino CaseQuestions.com CQ Interactive. Case Question Workshop. Purpose of Case Questions What Firms Look For Consulting Interviews Types of Case Questions Key Guidelines Case Scenarios Irking the Interviewer Frameworks

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CASE IN POINT Case Question Workshop

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  1. CASE IN POINTCase Question Workshop Marc P. Cosentino CaseQuestions.com CQ Interactive

  2. Case Question Workshop • Purpose of Case Questions • What Firms Look For • Consulting Interviews • Types of Case Questions • Key Guidelines • Case Scenarios • Irking the Interviewer • Frameworks • If You Do Nothing Else • Trends in Case Interviews • Skill Sets

  3. Candidates who receive offers do so for four reasons: • Committed to consulting • Success-oriented • Able to exhibit good analytical skills when answering case questions. • Able to articulate their thoughts, create a positive presence, and defend themselves w/o being defensive.

  4. Purpose of the Case Question They are testing for the candidate’s: • Analytical ability • Ability to think logically • Structure and thought process • Tolerance for ambiguity and data overload • Poise and communications skills under pressure • and in front of a client • Creativity • Industry and firm “fit”

  5. What Firms Look For The objective is not to determine if the candidate “gets the right answer,” but rather to evaluate the process the candidate employs to structure a competent approach to derive a solution.

  6. Consulting Interviews3 Parts Airport Test Maturity Test Case Questions

  7. 2 Rounds of Interviews • 2– 45 minute back-to-back interviews 2 small verbal cases • 3 – 60 minute back-to-back interviews 3 verbal cases with chart analysis or 2 verbal and 1 written w/ chart design

  8. Types of Case Questions There are five categories of case questions. However, ninety percent of the case questions will be of one type - Business Case. • Situation Case car/boss, kids/billboard • Brain Teaser manhole covers, bags of gold • Guess the Number(population, household, individual, & ??) disposable diapers • Factor Questions What factors would your consider … • Business Case / Oral and Written profitability, industry analysis, market expansion, pricing & strategic planning

  9. Key Guidelines 1.Listen to the Problem 2. Take Notes 3. Backtranslate or Restate the Problem 4. Verify Objective 5. Ask Clarifying Questions 6. Think Big Picture First, Think Top Down 7. Identify the Type of Case 8. Structure the Problem 9. Organize Your Answer & Manage Your Time 10. Be Creative & Brainstorm Without Commitment 11. Be Coachable - listen to the interviewer’s feedback 12. Think Out Loud (but think first) 13. Bring Closure & Summarize 14. Show Enthusiasm & a Positive Attitude 15. Have Fun

  10. IS THE CANDIDATE… • relaxed & confident? • a good listener? • engaging & enthusiastic? • asking insightful questions? • organizing the information effectively & developing a logical framework for analysis? • stating assumptions clearly? • comfortable discussing multifunctional aspects of the case? • trying to quantify their response at every opportunity? • displaying business sense? • thinking creatively?

  11. 12 Most Common Case Scenarios STRATEGY SCENARIOS • Entering a New Market • Industry Analysis • M&A • Developing a New Product • Pricing Strategies • Growth Strategies • Start a New Business • Competitive Response • OPERATIONS • Increasing Sales • Reducing Costs • Improving Bottom Line • Turnarounds

  12. Irking the Interviewer • Letterman/Leno Syndrome • What Was That Question Again? • Explosion of the Mouth • Digression City • Buzzword Bingo • Asking Open-Ended Questions • Using “cookie-cutter” frameworks

  13. FRAMEWORKS IVY CASE SYSTEM PORTER’S FIVE FORCES 5 Cs 4Ps 7Ss

  14. If You Do Nothing Else... The First 4 Steps: 1. Summarize the Questions 2. Verify the Objectives 3. Ask Questions 4. Identify & Label the Case - Layout Your Structure

  15. Trends in Case Interviews Trends in case interviews over the last 3 years • Increase in operations cases • Chart analysis and design • Factor questions

  16. SKILL SETSThink & Write Graphically Pricing Strategies

  17. SKILL SETSChart Analysis & Design

  18. SKILL SETS Math – flying w/o a calculator • Percentages • Breakevens • Weighted Averages • Net Present Value • Multi/Div with lots of zeros

  19. COW BROTHERSICE CREAM • 30 flavors in 1 pint containers and single servings on a stick • $200m in sales ($177m from supermarkets) • “Have a Cow” marketing campaign • 3rd in industry behind Haagen Dazs and Ben & Jerry / top 3 have 62% of the market • Increase sales to $250m next year

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