INTERVIEW PREPARATION

Demystifying case interviews

January 2014

www.mecintelligence.com

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MEC Intelligence is a data driven market insight/consulting firm which is different from a process
driven management consulting firm

MARKET CONSULTING: the focus is on reducing MANAGEMENT CONSULTING: the focus is on

uncertainty on market and inspiring action aligning a single organisation on the next step
KEY QUESTION: What could a market player do? KEY QUESTION: What a market player should do?

Typical Problems Answered by leveraging data over Typical Problems Answered by leveraging process over
process data

• How is market expected to grow? What will be the size • How much the organisation should be able to capture of
of market in 2020? How much could a market player the market?
generate?
• What should be the strategic option for the
• What strategic opportunities could be/are opening up organisation?
in the market?
• Where should the organisation capture value?
• How is the value shifting in the market? How could
• What should the organisation do to drive the market?
they be influenced?
• How should the organisation prepare against the
• Who could be driving the market in future? What Could
developments in the margins?
a player do?
• How should the organisation generate competitive
• What is likely to happen in margins? How could
advantage?
incumbents prepare?
• How should the organisation prepare for the possible
• How are competitors currently placed in the market?
disruptions in the market?
• What will be impact of competitive technology on the
• What steps should the organisation perform to reach its
incumbent business?
goal?
• How is a company expected to perform?

2
Case interviews seem to be one of the biggest sources of stress surrounding the
interview process, but they do not need to be…

Preface Purpose of this material

• Many candidates are nervous about case interviews. The • This presentation aims to demystify case interviews and to
specific case cannot be prepared for in advance – as you do give you guidelines and advice about how to prepare for
not know what the case will be – so many candidates feel them
that case interviews are more challenging than traditional job
interviews
• Yet case interviews are increasingly used to recruit master
candidates. Consultancies led the way in using them, but
more and more companies are adding case interviews to the
recruiting process
• Why? Because more and more candidates are doing project-
related work, and because the case interview is an effective
tool for judging a candidate's ability to approach and solve
real-life issues.

My biggest fear about the case interview was that I'd be

asked a question I simply couldn't answer. Even though you
can't be 100 per cent prepared for what happens in a case
interview, I could reduce my fear by preparing thoroughly
and by talking with others about what they had experienced
Mehak, consultant

3
 Contents

 1. Purpose of the case interview Appendices

1.1 Why do we use case interviews? A.1 A real-life case interview

1.2 What do we look for when recruiting? A.2 Frameworks

2. How do you prepare for and approach case interviews? A.3 Sources of further information

2.1 Prepare for the interview

2.1.1 - Review methods and frameworks

2.1.2 - Review your tables and practise mental arithmetic

2.1.3 - Practice cases with fellow students

2.2 How to crack cases

3. Getting down to cases…

3.1 What types of cases will you face?

3.2 How to structure and communicate a case?

4
WHY DO WE USE CASE INTERVIEWS?
Case interviews are used to evaluate candidates' reasoning skills in a structured manner
Cases resemble our daily
work
Cases are a quick and
concrete way of testing
candidates' skills
5
Rationale for using case interviews
• We develop fact based market insights for a living. This
requires strong analysis and case interviews provide a
perfect proxy to test capacity to structure and reason
realistically.
• The goal of the case
interview is not to find
the right answer
• Professional skills are hard to assess through a • The purpose of case
standard dialogue with newly educated candidates interviews is to
• Case-solving – with all its aspect – is a complex skill, demonstrate “how you
which is not a matter of course, even for candidates with think”
impressive grades and papers
• Case interviews are designed to test your ability to solve
problems in a time effective and structured fashion
WHAT DO WE LOOK FOR WHEN RECRUITING?
The skills we use to unique perspectives for our clients are directly related to those we look for in a
candidate …
Can the candidate work with our clients?
• Problem-solving skills alone do not make a analyst –
the consulting industry also greatly values
communication and presentation skills
• Be ready to present arguments that support your
points, but be ready to discard them too
• Show that you are tactful and friendly, and that you
can present your thoughts in clear, concise language
• Remember to connect with the recruiter and
establish a positive rapport: a welcoming and
attentive attitude goes a long way
6
Can the candidate ace in developing perspectives on new opportunities
• The most important asset is development of new perspectives, i.e. your
ability to combine skills such as logical reasoning, creativity, quantitative
skills, business acumen and commercial judgment, pragmatism and the
ability to structure problem solving
• Show the recruiter that you can insightfully think through the problem,
reach a reasoned conclusion supported by evidence and clearly
synthesise the discussion
During case
interviews
recruiters are
trying to answer
three questions
Burn for identifying new market opportunities?
• You may not believe it, but case interviews can and
should be fun. If you seem ill at ease or seem to be
struggling up hill, the recruiter will probably infer that
you will not enjoy serving our clients
• Show interest in the case and empathy for the client.
And do so with enthusiasm and energy
WHAT DO WE LOOK FOR WHEN RECRUITING?
… candidates are thus evaluated on both an analytical, presentational and personal dimension
You should be able to…
Frame the problem
Solve the problem in a
structured manner
Formulate a pragmatic
solution
Engage the audience/
demonstrate personal
impact
Thrive in the MEC culture
7
… therefore we look for…
• Ability to understand various interpretations of the problem scope
• Ability to ask relevant and clarifying questions to understand the actual problem and scope hereof
• Ability to structure/decompose the problem into a meaningful problem-solving approach
• Ability to drive the problem-solving approach consistently and independently
• Ability to show sound business acumen and triangulate calculations "on-the-fly"
• Ability to independently conclude upon the problem at hand and build a sound conclusion convincingly
• Ability to identify key sensitivities (e.g. critical assumptions, where implication can go wrong, etc.)
• Ability to articulate assumptions, recommendations etc., in a clear and convincing manner, both in
terms of oral communication and use of available remedies (e.g. white board)
• Ability to 'read' different personalities and use it constructively
• Ability to bring energy into the setting in a constructive manner – a convincing, engaging personality
• Maturity of candidate in terms of his/hers personal ethics and ways of dealing with ambiguity
• Level of empathy and ability to develop relations
• Attitude under pressure
• Drive and entrepreneurship
• Personality/behaviour – matching our culture and diversity
WHAT DO WE LOOK FOR WHEN RECRUITING?
So, what do we expect from candidates in connection with cases?

We expect the candidate to … We do not expect the candidate to …

• Demonstrate strong performance in the

skills set sought for
 • Begin without a brief moment to think and
reflect on the task at hand

• Drive the problem-solving on his/her own with • Possess business and financial frameworks
only limited guidance from the (depending on his/her line of studies)
• Answer the recruiter continuously about • Make it ALL the way through a case without hints
problem-solving methods, preconditions, etc. and guidance on the way
• "Own" the problem-solving by approaching • Be completely calm and not the slightest bit
the whiteboard or put intermediate nervous
results/illustrations on a piece of paper
• Be faithful to his/her personality and the
strengths and challenges it provides
• Show overall knowledge of/interest in society
in general

Remember that the case interview is also a chance for you

to get a better feel for what we do and to test your gut
feeling about the job
Sidharth, CEO

8
 Contents

1. Purpose of the case interview Appendices

1.1 Why do we use case interviews? A.1 A real-life case interview

1.2 What do we look for when recruiting? A.2 Frameworks

 2. How do you prepare for and approach case interviews? A.3 Sources of further information

2.1 Prepare for the interview

2.1.1 - Review methods and frameworks

2.1.2 - Review your tables and practise mental arithmetic

2.1.3 - Practice cases with fellow students

2.2 How to crack cases

3. Getting down to cases…

3.1 What types of cases will you face?

3.2 How to structure and communicate a case?

9
HOW DO YOU PREPARE FOR AND APPROACH CASE INTERVIEWS?
Depending on how familiar you are with the content below, you may want to begin preparing in
advance of the interview

• Most test situations in life have in common

the fact that the more you prepare, the
better you will do – preparation is critical
in any job interview – case based or not
• Rehearsing your CV, education and
extracurricular activities, and researching
the company, its offerings and recruiting
process are just as important as preparing
for and rehearsing case cracking Prepare
for the 1 Review methods and frameworks
• Being clear about why you want to
interview
become a analyst and why you want
to work in a specific company – as well by…
as the which concerns you may have – will
improve your own outcome of the
interview. Remember that the interview is Review your tables and practice
a two-way test of the match 2 mental arithmetic
• The recruiting process often contains
several interviews and types of interaction
with the firm. Even before the recruiting
process, you may have acquainted
yourself with the firm or some of its
employees through student marketing
3 Practice cases with fellow students
events, the press or other sources

10
HOW DO YOU PREPARE FOR AND APPROACH CASE INTERVIEWS?
A number of methods and frameworks are useful for structuring your thinking
1
1 Review methods and frameworks
A number of methods and frameworks
are useful for structuring your thinking.
Frameworks have the benefit of
providing a logical approach to your
story when analysing a problem
11
Some things to remember
• Don't assume there is a framework that will solve every
type of case. No framework is 100 per cent applicable to a
real-life situation. Be pragmatic. The recruiter wants to see
you adapt your knowledge to the real world
• Don't say: "I'll be applying Porter's five forces" or "I will do
a SWOT on company A“ - this indicates that you are to
bound to the theory you learned. Try to adapt and use the
framework creatively to fit the case, if it is possible.
Motivate why you have chosen the specific framework. If
the recruiter feels your approach leans too heavily on a
textbook framework, he will often introduce facts or
questions to force you to follow your own methodology
• The recruiter knows your background well enough to know
which frameworks you are expected to know. He will
evaluate your approach accordingly. Economics students,
for example, will not necessarily know much about
organisation theory; engineers may know little of
marketing. But do not be surprised if you are presented
with a case relating to areas or frameworks that you are
not familiar with
HOW DO YOU PREPARE FOR AND APPROACH CASE INTERVIEWS?
We expect you to be at ease with numbers and have a sense of the proportions
you are working with

1
2 Review your tables and mental arithmetic
Can you do mental arithmetic or do
calculations on a whiteboard without
getting lost in the numbers? Do you
have a sense of proportion? Are the
results reasonable compared to what
you would expect?
Some things to remember
• It may have been a long time since you were asked to do
arithmetic without a calculator. However, in a case
interview you will not be allowed a calculator – only pen
and paper or whiteboard is available

• Revisit basic mathematical disciplines such as fractions,

calculating percentages, currency translation and
gleaning information from graphically displayed data is a
good way to prepare for both the case interview and the
numerical test

X
X • We do not expect you to be a mathematician or a financial
X X X expert (unless you are!), but we expect you to be at ease
X X X X X
O O O O O O with numbers and have a sense of the proportions you are
O O
O
working with. At client meetings, you should be able to
mentally calculate "5 per cent market share of 720,000" or
"effect of a 3 per cent change in the exchange rate on
product price" without using a calculator

12
HOW DO YOU PREPARE FOR AND APPROACH CASE INTERVIEWS?
Role play can be the best way to practise case interviews
1
3 Practise cases with fellow students
Many consulting firms and business
schools offer tips, tricks and practise
cases. Review their websites to gain
an idea of what sort of questions you
can expect and how you are expected
to approach the case. However,
remember that simply reading cases
have little to do with real case
cracking: you are under no time
pressure, you cannot demonstrate
your communication and presentation
skills, and the feedback is generic.
13
Suggestion for practising cases
• Team up with a fellow student – and take turns playing the
roles of the recruiter and the candidate
• The "recruiter" should thoroughly read the case question
before starting the interview. This will help him or her
make up facts and ask additional questions along the way
• When adding facts or additional questions, the "recruiter"
should make sure the new material is consistent with
what has been revealed so far
• At the end, the "recruiter" gives feedback to the
"candidate" about what went well and what could be
improved about the case solution, body language,
whether the "candidate" listened well, repeated himself,
etc.
• If you are several persons practising together, the
observers should also be prepared to provide feedback
about what worked and what did not
• Switch sides and try again!
HOW TO CRACK CASES?
Case content varies, but the overall case cracking process is standard for most cases.
The standard approach and supporting hints are shown below

1 2 3 4
Steps in the Structure the Synthesis findings
Identify key issues Conduct the analyses
standard approach analysis and build argument

X
X X
X X X
O O O O O
O O
O

Presenting solution
and wrapping up

Work through the • Conclude on each area

case
• Summarise findings
and present overall
Presenting approach • Analyse prioritised areas, conclusions
one at a time
• Present
Receiving and • Describe approach/frame • Develop hypotheses and recommendations
processing info the problem test through questions
• Ask what really
• Explain choice of • Use facts provided or
Actions and • Listen and take notes if happened (if relevant)
selected approach estimations to develop or
supporting hints relevant • Pinpoint the most critical support your analysis
• Think areas to address
• Investigate alignment
• Ask clarifying questions on/acceptance of
• Disaggregate the approach
problem

14
HOW TO CRACK CASES?
Keep the hints in mind and use them when appropriate – but do not “overdo it”

The steps Ensure that… Remember to…

• You have thoroughly understood

1. Identify key issues
the case complication
• Verify with the recruiter that you
have understood the case properly
 Listen – avoid the temptation to answer
halfway through the question
 Think – it is okay to take a minute to
structure your thoughts

• You break the problem into parts

2. Structure the analysis
that can be supported by evidence
• Explain how you will approach the
problem at a high level
 Establish the big picture before you jump
to details
 Not force fitting frameworks to the case
unless they are appropriate

• Develop hypotheses and test them  Not make use of estimates without stating
X one by one in a prioritised way assumptions
X X
3. Conduct the analysis X X X
O O O O O
O O
• Use provided facts or estimates  Do not get caught up in too many details –
O
throughout your analysis your time is limited

• Summarise key findings and the

related conclusions
 Answer the main issue problem

4. Synthesis findings
and build argument
• Present recommendations in a  Point out if you find your results unrealistic,
structured manner and explain what went wrong

15
 Contents

1. Purpose of the case interview Appendices

1.1 Why do we use case interviews? A.1 A real-life case interview

1.2 What do we look for when recruiting? A.2 Frameworks

2. How do you prepare for and approach case interviews? A.3 Sources of further information

2.1 Prepare for the interview

2.1.1 - Review methods and frameworks

2.1.2 - Review your tables and practise mental arithmetic

2.1.3 - Practice cases with fellow students

2.2 How to crack cases

 3. Getting down to cases…

3.1 What types of cases will you face?

3.2 How to structure and communicate a case?

16
WHAT TYPES OF CASES WILL YOU FACE?
Cases fall into three main categories: Market sizing cases, business cases and interpersonal cases

Market sizing cases Business cases Interpersonal cases Case areas

• Market sizing cases are • Business cases can come • Interpersonal cases are • Industry analysis
about performing estimates in many different shapes cases that test how you
of market sizes, usually and sizes, but they can react in different situations • Competitive response
based on a large list of usually be categorised as and how you make • Business turnaround
assumptions which the either operational or decisions, testing both
candidate is expected to strategic in nature personal and leadership • Improve profitability
propose without any aids skills • Pricing
• During a business case a
• There is often a large candidate is expected to • Cases can focus on how • Market entry
amount of arithmetic show business acumen and you work in a team, and
involved in this type of solve the case in the most how you think other people • New business venture
case, and the candidate is relevant way which doesn't perceive you. Personal • M&A
expected to structure necessarily include any reflection on previous
calculations and specific framework situations and • PE & investment cases
assumptions in a performances can be • Supply chain
presentable way expected
• New product
development

17
WHAT TYPES OF CASES WILL YOU FACE?
Case examples
Market sizing cases
• How large is the market for roadside
assistance in Delhi?
• What is the demand for airline
tickets between Ranchi and
Mumbai?
• How large is the 'online market' for
fast food in Gurgaon?
• What is the market for icecream in
Europe?
• How many trees are there in
Chandigarh?
18
Business cases
• Company X wants to enter market Y.
What do they need to know in order
to decide whether to go ahead or
search for other opportunities?
• How can company Z increase its
market share in a declining market?
• Company X is considering
outsourcing production. Which key
elements would you analyse in order
to make a recommendation?
• How would you organise a group of
experts who currently spend half
their time on research, and the other
half on projects?
Interpersonal cases
• A company client has agreed to
provide you with key data, but he
didn't deliver on time. What do you
do?
• Describe a bad experience that you
have had in a team, what went
wrong and why?
• You are on a project with a very tight
deadline, and you are responsible
for the presentation this coming
Monday. You have the opportunity to
get an extra team member for the
next couple of days. Do you accept
the offer – if so – how do you plan to
use him/her?
CASE TYPES AND INTERVIEWING STYLES
Every recruiter has a different interview style – when explaining a case you must feel comfortable
with each of the different approaches and be able to adapt your approach

Detailed
• Detailed introduction of case
• Specific problem to be solved
• A few starter facts
• Many additional facts available, if asked
• Conversational feel throughout case interview
Different types of cases and
interviewing styles exists
Conceptual
• Brief introduction
• Very broad description of problem (e.g. poor performance)
• Few, if any facts available
• “What do you think” responses to many questions

19
PROBLEM SOLVING AND COMMUNICATION
Think about your communication – an issue tree can bring structure and clarity in your thinking,
problem-solving and communication

Use an issue tree to structure your main problem by dividing up and limiting its parts

Why/How?
Why/How? Supporting
element 1
Logical
element 1 Why/How?
Supporting
element 2

Logical
Problem
element 2
Why/How?
Supporting
element 3
Logical
element 3 Why/How?
Supporting
element 4

20 Source: The Minto Pyramid principle by Barbara Minto, Experience as user

PROBLEM SOLVING AND COMMUNICATION
Example of issue-tree based communication for a business case

A private equity firm is considering buying company Y … the structure of the recommendation could be the following

Why?
Why? Main player –
driving market
Company X
will grow
Relevant – the faster than
Why?
right problem industry
Weak
competition

Purchase Second level

Will be
company break-down
financially
Y for USD
attractive
xx million
Why?
Industry
knowledge
Skills to
manage the
acquisition Why?
Ability to lead
First level break-
the changes
down
needed

21 Source: The Minto Pyramid principle by Barbara Minto, Experience as user

Contents

1. Purpose of the case interview Appendices

1.1 Why do we use case interviews?  A.1 A real-life case interview

1.2 What do we look for when recruiting? A.2 Frameworks and further information

2. How do you prepare for and approach case interviews? A.3 About MEC

2.1 Prepare for the interview

2.1.1 - Review methods and frameworks

2.1.2 - Review your tables and practise mental arithmetic

2.1.3 - Practice cases with fellow students

2.2 How to crack cases

3. Getting down to cases…

3.1 What types of cases will you face?

3.2 How to structure and communicate a case?

22
A REAL LIFE CASE EXAMPLE
Introduction
Business case example: Entering a new market (1:4)
Solution

Feedback
About the example..
The following example describes
what a case interview could be like

It illustrates both good performance

and areas for improvement. After the
case, we summarise the strengths
and weaknesses of the solution

The case Clarifying questions

• The company is considering entering the US market.

You are working on a project What must be considered before deciding whether to
for a Indian company selling enter the US market?
paper-based calendars. You
• How big is the US calendar market?
are asked for your
perspective on three
questions

23
A REAL LIFE CASE EXAMPLE
Introduction
Business case example: Entering a new market (2:4)
Solution

Feedback

MEC: I have a case I would like you to solve for me. You are working Candidate: Do we know why they are considering the US market in
on a project for a small Indian company selling annual paper-based particular?
calendars. The company faces some significant challenges.
MEC: They are looking at all Nordic markets outside their home
Therefore, your team is developing a proposal for a six-week strategy
market.
project. What major strategic challenges do you believe this company
is facing? Candidate: Before entering the US market, they need to know the
market potential – that is, the size of the market and the growth rate. It
Candidate: Challenges could be related either to demand or supply.
is also important to understand whether it is a profitable market.
Do we know anything about the character of the challenges?
MEC: When we have analysed the US market and found out that it
MEC: We know that they are in the middle of outsourcing their
seems to be a reasonably good market compared to our home
production to low-cost countries, so the challenges we have been
market, what should be our next step?
asked to help with are related to the demand side.
Candidate: To build a sales organisation in US
Candidate: On the demand side, I believe one of the most likely
challenges is limited growth or maybe even declining demand, as MEC: Okay, that could be relevant. But I wonder if we are missing a
consumers switch to mobile calendars or the calendar on their major point before reaching the decision to set up a sales
computer. There could also be some changes in the type of calendar organisation?
people prefer – for example, many students use free calendars, today.
Candidate: Hmmm, I'm not sure ...?
MEC: Why would free calendars be a threat?
MEC: I believe we are missing the evaluation of the competitive
Candidate: I was thinking that free calendars are a threat if they situation and the company's ability to compete in this market …
replace ordinary calendars. I assumed that the company has
Candidate: Yes, we need to compare our prices with the price on the
significant sales to students today with higher priced products – but I
US market
guess I would have to test this before concluding that it is a threat and
and make sure we are competitive.
not an opportunity.
MEC: Anything else we should consider?
MEC: I follow you on that one. Let us move on to a new issue. The
company is considering entering the USmarket. What do they need to Candidate: I can't really think of anything ...
consider before entering?

24
A REAL LIFE CASE EXAMPLE
Introduction
Business case example: Entering a new market (3:4)
Solution

Feedback

MEC: Normally, we would investigate a few elements more before we The business group includes people in the work force. If we assume
can draw conclusions about the company's ability to compete in the these are people from 25 to 65 years of age that would be 50 per cent
US market. The relevant parameters in this case would be the of the population – 2.5 million people. Of this group, fewer people
demand for the products we can offer (for example compatible have work-related calendars, I believe. 20% coverage would give a
formats), access to sales channels and our ability to service the demand of 0.5 million calendars per year in this segment. I do not
customers (for example retail) compared to competitors (selection, think it is higher than this given the increased use of electronic
quantities, delivery time, etc.). calendars.
[A follow-up discussion on this part of the case then takes place before Finally, there are calendars for private use. As far as I remember,
moving on to a new part of the case.] there are something like 2.3 million households in US, and I would
imagine that at least one person in every second household has a
MEC: You mentioned that the market potential is important. What is
calendar for private use. This gives a demand of about 1.15 million
your best estimate of the US market for paper-based calendars?
calendars for private use.
Candidate: In order to determine the market size I would split the
This gives us 1.2 million calendars in the student segment, half a
market into three groups:
million in the business segment and 1.15 million in the
1. Student calendars household/private use segment. In total, it is a market of
approximately 2.9 million calendars in US.
2. Calendars for business people
MEC: Thank you. I think we will stop the case here.
3. Calendars for households/private use
I would define the student group as people from 10 to 25-26 years of
age. Hence, the group is approximately 20 per cent of the population,
assuming a fairly equal distribution of the population in different age
Blackboard notes
groups from 0 to 80 years. This group amounts to about 1 million
people. I do not take into account that some students do not study
past secondary school, but I will include this in the demand per person
in this segment. Almost all students have at least one calendar, and
many have two due to the free calendars or half-year calendars. So I
would assume an annual demand of 1.2 calendars per person in this
group. That is 1.2 million calendars for the student group.

25
A REAL LIFE CASE EXAMPLE
Introduction
Business case example: Entering a new market (4:4)
Solution

Feedback
Feedback
At this point, your recruiter will usually provide feedback on your performance. If not, it is a
good idea to ask for it – it gives you a better feel of your performance compared to the
other candidates. And it gives you some good hints about what to be aware of in future
interviews.
The example above illustrates a generally good answer with both positive observations
and areas for improvement.
.
Positive observations Areas to improve Excellent 
• Shows good business understanding in • Could benefit from pausing to consider Good 
1
most parts of the case and structure thoughts before answering
• Uses questions well – especially in the – especially in the first part of the case Above average 
first part of the case • Suggested market analysis was too Average
• Is able to listen narrow. The company's ability to
• Is willing to enter dialogue compete in the US market needed to be Below average
• Gives a clear statement of assumptions assessed in much more detail
– especially in market-sizing part of the • Discussed only volume in market-sizing
case example. Could have extended to
• Uses blackboard well discuss size in terms of both volume
• Is able to summarise and conclude – and value since different average prices
especially good in the market sizing part could be expected in the segments
of case

26
Contents

1. Purpose of the case interview Appendices

1.1 Why do we use case interviews? A.1 A real-life case interview

1.2 What do we look for when recruiting?  A.2 Frameworks and further information

2. How do you prepare for and approach case interviews?

2.1 Prepare for the interview

2.1.1 - Review methods and frameworks

2.1.2 - Review your tables and practise mental arithmetic

2.1.3 - Practice cases with fellow students

2.2 How to crack cases

3. Getting down to cases…

3.1 What types of cases will you face?

3.2 How to structure and communicate a case?

27
FRAMEWORKS
Frameworks are useful for structuring cases, but should not be used too rigidly – depending on your
background, recruiters will have different expectations to your knowledge of frameworks.

Expectations for familiarity with business frameworks Examples of general frameworks or knowledge areas

• Business school graduates are expected to have a • Company – how a company works
strong knowledge of frameworks and how these are • Financial structure (profit or loss account, balance
used to structure and solve different business problems. sheet, cash flow)
Do not expect to do well just by relying on the • Market – what defines/characterises "a market"
frameworks specific to your degree. We value curiosity • Organisational structure alternatives
and so expect you to be familiar with more than just the
frameworks from your own academic area.
• Candidates with non-business school backgrounds are
not expected to have the same knowledge of business
frameworks. However, when applying for a job in
management consulting, it may be wise to show interest
in the type of work we do. Therefore, we advise non-
business school graduates to familiarise themselves
with a few business frameworks. Do not boil the ocean
when preparing, but consider taking a trip to the library
or using the Internet to gain a basic understanding of a
few frameworks that are used to address business
issues.

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FRAMEWORKS
Examples of frameworks – and where to learn about them

Examples of specific frameworks taught at business

schools
• 4-Ps/4-Cs frameworks (framework for addressing
marketing parameters)
• 7-S framework (framework for describing organisational
dimensions)
• Porter's five forces (framework for describing factors
affecting industry competitiveness)
• Porter's generic strategies (description of archetypical
strategies)
• ROCE tree (decomposition of a company's Return On
Capital Employed) Inspiration
• Product lifecycle (description of typical phases from • Case In Point: Complete Case interview preparation.
product launch to termination) Marc P. Cosentino. Burgee Press. 2011.
• SWOT (assessment of a company's Strengths,
Weaknesses, Opportunities and Threats)
• The Ansoff matrix (addressing priorities according to
existing/new products and markets)
• The BCG matrix (addressing the product portfolio
according to market share and market growth)
• The McKinsey GE matrix (addressing the product
portfolio according to market attractiveness and
competitiveness)
• Value chain (a framework for describing the main
elements of a company's/
industry's value creation)

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FURTHER INSPIRATION
Sources of further inspiration

Websites and books

The Pyramid The Minto Pyramid Principle: Logic in Writing, Many business schools and
Principle Thinking, & Problem Solving, Minto, Barbara consulting firms have 'crack-the-
case' events as part of their student
Case in Point Case in Point: Complete Case Interview marketing activities
Preparation, Cosentino, Marc.

The Vault International career site with extensive www.thevault.com

information about the consulting industry. Lots
of free information
Inside Consulting Provides information, advice and news related www.insideconsulting.com
to the consulting industry, also about case
interviews
Ace The Case Samples and e-books consisting www.acethecase.com
of case questions and worked solutions
Careers in Overview of the industry, practice areas, salary www.careers-in-
consulting levels, recommended books, etc. in business.com/consulting/
management consulting mc.htm

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