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Starting Structure/Framework

MBB Final Round Case – Non-Profit Museum Revenue Increase
Neue Antwort am 10. Juni 2022
3 Antworten
1,0 T. Views
Anonym A fragte am 9. Juni 2022

Hi Peers,

can you please feedback this structure for the case?

(sorry, the structure is hard to visualise here in text)

- Why is revenue declining for Muse19?
 

*Internal

  1. Revenue:
    1. number of visits
      1. number of visitors
        1. Trends
          1. Consumer/museum trends
            1. digitisation
            2. experience museum 
            3. relevance of our offering (relevant art in the museum?)
          2. Trends in no of visitors per year
        2. Seasonal variation
          1. seasonal in the year
          2. shorter exhibitions
        3. Length of stay
        4. Our product offering
          1. museum entrance
          2. workshops and seminars
          3. other services
      2. customer segments and preferences
        1. A: Tourists, 
        2. B: students, 
        3. C: others

1.2. Average spend:

  1. Private customers:
    1. ticket price for entrance
      1. standard
      2. discounted 
      3. membership
    2. other spendings such as museums shops and cafe (cross-selling)
    3. donations
  2. Institutions, companies government or similar
    1. cash donations
    2. material donations
    3. grants and subsidies

2. Costs

2.1 Direct costs for opening hours

2.1.1 Labour (cashier, shop, cleaning)

2.1.2 electricity

2.1.2 Experts for workshops, seminars & co

2.1.3 Info material, printing tickets etc. 

2.2. Indirect costs for the Muse19

2.2.1 Rent Museum (and office)

2.2.2 Admin

2.2.3 Sales & Marketing 

2.2.4 Security services 

2.2.5 Maintenance of art and building

 

3. Our internal capabilities

3.1 Knowledge in Marketing, PR, Communication

3.2 Capacity in Sales and fundraising, lobby work

 

*external 

4. Competition

4.1. benchmarking with competitors

4.1.1 Prices

4.1.2 Offerings, products, services

4.1.3 USP

4.2. Relationship with museums

4.2.1 Synergies 

4.2.2. Collaboration possibilities

4.2.2.1 Ticket for all museums

4.2.2.2 Events, Workshops, seminars

4.3 Collaboration with other stakeholders such as hotels, restaurants, public transportation

 

 

Would you name costs? In my first attempt I did, segmenting the costs in overhead, labour, rent etc. 

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Ian
Experte
Content Creator
antwortete am 10. Juni 2022
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

Ok, so technically your breakdown is well thought out. You've done a good job!

A few thoughts though:

  1. Context is so important. Nothing about this structure is tailored…I need to know the industry, what's happening, the full prompt etc. From there my framework will totally change
  2. This is too much. This is more of a driver tree than a framework and I'd be concerned about your ability to create this in 2 minutes
  3. Remember a framework isn't just a list of ideas, it's an objective-driven approach to solving the problem (more below)

How do I use frameworks in a case?

If there's anything to remember in this process, it is that cases don't exist just because. They have come about because of a real need to simulate the world you will be in when you are hopefully hired. As such, remember that they are a simplified version of what we do, and they test you in those areas.

As such, remember that a framework is a guide, not a mandate. In the real-world, we do not go into a client and say "right, we have a framework that says we need to look at x, y, and z and that's exactly what we're going to do". Rather, we come in with a view, a hypothesis, a plan of attack. The moment this view is created, it's wrong! Same with your framework. The point is that it gives us and you a starting point. We can say "right, part 1 of framework is around this. Let's dig around and see if it helps us get to the answer". If it does, great, we go further (but specific elements of it will certainly be wrong). If it doesn't, we move on.

So, in summary, learn your frameworks, use the ones you like, add/remove to them if the specific case calls for it, and always be prepared to be wrong. Focus rather on having a view, refering back to the initial view to see what is still there and where you need to dive into next to solve the problem.

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Anonym A am 10. Juni 2022

Dear Ian, thanks for your comment! - The comment is related to a case about a non-profit museum (please see above the comment). - I am aware that this is extensive and will be hard to show all of this in 2 min, however, trying to be comprehensive when training in order to have enough ideas in the interview works well for me. - The structure is somewhat tailored, but I understand that one bullet point cannot show all the thoughts behind it related to the case. What I try to do is, tailor a simple profit framework to a revenue case. Doing only revenue does not seem enough either; Option 1: Go very deep (deeper than 3 levels), Option 2: make it a little broader

Clara
Experte
Content Creator
antwortete am 10. Juni 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

You did a very good job.

However, realistically, you cannot do this in the 2-3 mins max (adding the pressure of having to think on your feet) in the interview day. Hence, I would focus on speed and shorter structures, to be better prepared for what you will see in the interview day. 

Hope it helps!

Cheers, 

Clara

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Giovanni bearbeitete eine Antwort am 9. Juni 2022

Well, that’s way more than I can do in two minutes. If you feel comfortable with building such a detailed structure and you can explain it in a simple and short way, this is pretty good.

(editiert)

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Anonym A am 9. Juni 2022

Thanks :) Well, obviously I did add a few things now, and somethings things come on the fly :P

Ian

Content Creator
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
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