Always Data Driven Justi cation: Should always have data to backup the claims
If lack that knowledge: con dently say: I can’t answer the question
Be Precise: only ask for data which you require to save the question
Focus on: Being right but in a client-friendly way
With being logically correct, you should also be practically right
Don’t be an asshole: No one likes to work with one
Interviewer’s Mindset:
1. Process Excellence: Right Process -> Wrong Answer is better than Wrong Process -> Right
Answer
(Repeatable vs. Got Lucky)
2. Logical, Data Driven Analysis
3. Synthesis (The Big Picture) & Presentation of conclusion
Case Interview Basics:
2 Categories of Cases:
1. Business Situation
2. Estimation Question (Less about talent, More about practice)
How to Open, Analyse & close a case:
A) How to Open:
1. Stall (Hmm.. that’s an interesting question)
2. Verify your understanding
A. Terminology & facts
B. The problem to be solved: what’s the objective (spell it back out)
(Don’t solve the wrong problem)
3. Structure the case for Analysis
How to structure a case:
1) Identify PROBLEM TYPE (pro ts are down: pro t problem, thinking of launching new product:
new product problem, thinking of entering the China market: Market entry problem etc…
categories of problems)
2) Match to appropriate FRAMEWORK
3)Describe KEY COMPONENTS of frameworks (don’t mention name of framework explicitly)
4) DRAW the framework on a piece of paper (this is clientele friendly)
Example: CEO of ABC company says revenue are down 20%. What do you do?
Logic: Pro t: Revenue & Costs
Need to focus on Revenue & Costs to understand PROFITS
*Draw the logic on paper so that the customer can also understand
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To Analyse = To break things down into its components
BIG TIP: When in doubt, break problem into PIECES
If you get weird/wacko cases: pull them apart, break them into pieces, sub-pieces etc etc
EVEN IF YOU DON’T UNDERSTAND ANYTHING: FIRST THING WHICH YOU SHOULD SAY
MUST BE: THAT’S INTERESTING, LET’S BREAK IT APART
ANALYSING A CASE STEP BY STEP:
1.
2.
3.
4.
Ask for info on where to start
State a Hypothesis (*not explicitly)
PICK a branch of framework to start
Identify KEY ISSUES within BRANCH (Ask for data from customer)
(*State all the major issues & them dive into them, otherwise the customer will think that
you missed them)
5. Go DEEPER down that branch if the data suggests to do so or go back 1 level UP to work on
a di erent branch (if hypothesis is correct, keep drilling down else go back up 1 level & work
on a di erent branch)
6. REFINE hypothesis as you discover more
NOTE: Have to be precise: gathering information is expensive, it’s counted in days in Consulting
TIPS:
1. Think out loud: important as the customer will help if you are stuck anywhere
2. Use “hypothesis” a lot:
1. Educated Guess
2. Gather data to test validity
3. Modify hypothesis (and say you are doing so)
4. Ask for more data to test revised hypothesis
3. Critical Comparison of numbers:
1. Company vs. Competitors ( gure out if the problem at hand is Company speci c or
industry wide, how the rest of the market is doing)
2. Current Year vs. Previous Year (Find the Trend)
4. SEGMENT (break apart your numbers, example: country/region wise, product line wise)
5. Always Ask for DATA: explain why you want the data rst (you get credits for asking correct
questions)
How to Close a Case:
Checklist of a good Close: (3 step process)
1. Figure out what’s IMPORTANT about what you have discovered (“Insight”): try to be spot on
2. Provide a “Big Picture” POINT OF VIEW or CONCLUSION or Recommendation (Ideally with
recommended Action)
3. SUPPORT your point of view with
Synthesis: To combine separate elements to form a coherent whole: so that the Customer can
understand and make sense of it (opposite of what we did in Analysis: breakdown into
components to work on with)
Common structure of a good CLOSE:
Conclusion
Key Supporting Data
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Key Supporting Data
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Key Supporting Data
A good CLOSE:
Conclusion + 3 relevant pieces of data that directly & logically support that Conclusion
A great CLOSE:
CONCLUSION + a De nitive Action Recommendation + 3 relevant pieces of data that directly &
logically support that Conclusion (logic should be clear)
Conclusion
Why you feel that way (supportive & logical data)
Repeat Conclusion
5th Lecture:
4 Core Frameworks:
1.
2.
3.
4.
Pro tability Framework
Business Situation
Merger & Acquisition (Speci c Business Situation)
Supply/Demand Framework (Capacity Framework)
How to MATCH PROBLEM SOLVING FRAMEWORKS with CASE Interview:
1) Pro t Problem
• Decline in Prices
• Decline in Volume
• Increase in Costs
2) Business Situations
• Enter a New Market/Start a New
• Introduce New Product
• Respond to Competitor Behaviour
• Respond to changes in demand
• How to grow
3) Mergers & Acquisitions
• Is this merger a good idea?
4) Supply/Demand (Industry Capacity)
• Capacity change through acquisition, merger
• Build/Shut down factory
• Capacity shift in response to change in demand
NOTE: Thee is more than 1 way to be right.
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6th Lecture: