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Case Interview 20118

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What our interviewers look for in a case interview

Problem solving

Logical reasoning Ability to structure a complex problem Basic numerical competence Tolerance for ambiguity Ability to synthesize Creativity

Practical/common sense

Basic business sense Prioritization Understanding of implications of decisions

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How to approach case problem solving

Clarify

Structure

Analyze

Conclude

Goal

Understand
question

Agree on major
points of inquiry

Gather/analyze facts

Develop recommendations

Tips for candidates

Listen carefully Ask questions Paraphrase to

confirm

Describe your
overall approach (do not dive into details straight away) Keep it simple Use a framework if appropriate

Agree on priority Synthesize your issues answers Make Discuss tradeoffs estimations Relate back to Work together original question (ask questions, watch for hints)

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What we mean by structure

Overall, a framework or structure is a means to organize your thoughts and to help you present your ideas in a clear and logical manner What has been done What candidates should do

Create a structure that separates your

main ideas from the supporting questions or details that fall below them

What has been done do What they should not

Assume that there is a single

structure which must be used in order to correctly solve the problem

Prioritize your different ideas and make

it clear which ones you think should be investigated first (and why!)

Try to force a framework that you

are familiar with (e.g., the profitability framework) to all problems, especially if it doesnt fit

Recognize any relationships between

different dimensions of your structure

Rush into a framework take a few

seconds to develop your approach

Introduce creativity and use common

sense with unfamiliar industries or draw parallels to things you know well

Try to refer back to your framework

throughout the case interview
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Example structuring two options

Hypothetical problem: What are the important factors to consider to determine why Company Xs main product has been steadily losing market share?

What has been done Option 1 Product quality Internal factors Why has market share declined? External factors Pricing

What has been done Option 2 Which products are growing? Has the market grown? Why has market share declined? New customer segments? Different economic trends?

Marketing Customer trends Competitive dynamics Economic concerns

Have our sales fallen?

Has price declined? Have we sold fewer units?

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Example of structuring profitability tree

Have revenues declined? Why has profitability declined?

If so, is it because average prices have declined . . .

. . . and/or because sales volume has declined?

If so, have fixed costs increased (e.g., admin) . . . Have costs increased? . . . and/or have variable costs increased (e.g., labor, materials)?

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Additional tips for structuring / analyzing case

Invest time in structuring upfront Think through the high-level structureavoid spouting off an answer right away (even if its obvious!) Use a loose-tight framework thats structured enough to make sense, but not so rigid that it prevents creative answers (e.g., stick to revenue, cost and profit) Explain the approach and structure to the interviewer before jumping into details Use the structure throughout the case, Signpost your answer (e.g., To improve profitability, Ill look at increasing revenue or decreasing costs. Within revenue, we can increase the volume of sales or the price. First, lets look at volume of sales.) Explain why recommendations will help solve the problem (e.g. NOT we could increase sales by improving marketing, but, educating our target customers about our product could increase demand and boost sales) Clarify the nuances/implications of your recommendations to your interviewer (e.g., potential interdependencies, drawbacks) Recap and synthesize at end Be creative! Incorporate previous work experiences, readings from classes or other life experiences

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Tips for quantitative questions

General approach Write the case data in an organized, clear way (if you have bad handwriting, its amazing how much worse it can get during an interview!) Confirm what youre solving for (e.g. increase in profitability not increase in revenue) and units of answer (per yr, vs. per month; percentage vs. absolute) Think about approach before diving into numbers, and explain to interviewer (explain steps aloud throughout process!) Break down problems into more easily digestible pieces Remember you may not need to use all the information you were given and you may need to ask for additional information Specific tips / recommendations Structuring / organizing Keep track of the information you already have (and still need) by writing simple formulas Keep track of units with each step (e.g. use ladder method) Arithmetic tips Its OK to take time to do math out by hand, rather than rush through mental math and make a mistake Use scientific notation to keep track of zeros Market sizing / estimating tricks Pick easy to use numbers (e.g. U.S. population = 300 million, 50% is female) Offer a rationale for estimates

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What interviewers look for in the personal experience interview

Achieving Have passion for setting challenging goals and achieving them in a practical way

Personal impact

Can influence people over whom he/she has no positional authority

Demonstrate inspiring and effective leadership in challenging team situations Leadership

Ability to provide leadership and direction to others Does not have to mean you were the official leader

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Value Proposition

Workshop

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812: Excel Modeling

819 : Presentation/influencing

826: PPT/Say it with Charts

827: Research

828: Interview/Cold call

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Contact

Any additional questions, email to: faculty@consult-in.com.cn

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