CONSULTING 101 Division Directors: Janine Romy (jromy@nd.edu) Alex Jones (ajones22@nd.edu) What is Consulting? Data Analysis & Conclusion As consultants, we solve pressing business problems. Recommendation “The business of giving expert advice to other professionals” Source: Google Dictionary 2 Projects We Offer Specialty Consulting The Big Three The SIBC Consulting Division has a project for everyone. Consulting Divisions in the Big Four 3 Diverse and Interesting Why Choose Consulting? Assignments Development of Strong Analytical and Communication Skills Accelerated Career Advancement Steep Learning Curve Travel the World It is commonly said that one year in consulting is worth three years in another industry! 4 Quality Research Sources If your idea or recommendation is not backed up by data, it is NOT WORTH SAYING. Industry Information Mintel IBISWorld Financial Information PassPort GMID S&P CapIQ Yahoo! Finance Reputable News Sources Forbes Bloomberg Businessweek Found at library.nd.edu/business Graphs have more impact than raw numbers Source: Mahaffey Business Library Always cite sources on slides Use infographics for visual effect 5 PowerPoint Slide Quality Tips Bad ▪ This is what a bad PowerPoint looks like. There is no visual impact from the placement of text. There are way too many words on one slide. There may be a randomly placed clip-art picture somewhere on the page. The white space is not balanced. The font is too small. Good slides always have a takeaway, either in the title or in a text box. SmartArt Large Font Appropriate Color This side of the slide is ugly Quality of slide Use of Applicable Data Impact of Graphics on Slide Quality Relevant graphics 6 SIBC Consulting Buzzwords Case interview: the situation-oriented challenges presented by recruiters to test how you think 80/20: the idea that 80% of the output comes from 20% of the input i.e. 80% of the problem can be solved with 20% of the data MECE (pronounced mee-cee): “mutually exclusive, collectively exhaustive” an organizational tool where ideas have no gaps or overlaps 20,000-foot view: looking at a problem from a general perspective without worrying about details Source: The Daily Muse, Yaro Starak Slide deck: a PowerPoint presentation 7 Great Case Interview Resources Victor Cheng • Offers free video tutorials and articles on how to solve cases • Online program allows you to test basic math skills required for interviews • www.caseinterview.com ND Consulting Consortium • Holds case interview practices on campus • www.ndconsultingconsortium.com Your Peers • Ask a junior or senior for guidance! Many SIBC members have been through the process already and are more than willing to give advice to younger members • Contact division directors at jromy@nd.edu or ajones22@nd.edu for more information 8 Example Case Interview Questions Should Company Alpha, a grocery store chain, enter the Internet-based grocery shopping market? If so, how and what concerns should they have? If not, how do they protect market share that is being threatened by the emerging Internet market? A major distributor of canned corn in North America is considering an expansion into the South East Asian market. What would you recommend? Our company that manufactures batteries for RVs finds itself in the middle of a changing industry, where manufacturers are opting to use cheaper batteries as the standard. Customers must pay $600 extra to use our company’s batteries. How do we maintain profits amidst these changing conditions? You are consulting for a small manufacturer of motorcycles. They hand craft their bicycles and are well reputed for having some of the best quality on the market. A large multinational competitor has announced that it will begin selling high-end motorcycles incorporating the newest engine technology. What should your client do? Source: The Corporate Executive Board Company, Job Search Online, Ace the Case 9 Any Further Questions? Please contact the Consulting Division Directors: Janine Romy (jromy@nd.edu) Alex Jones (ajones22@nd.edu) 10