How would you answer (structure) a case about bulding a new city and getting people to live there and how can you get the estimate number about the people who woukd live there after maybe 4 years?
I saw i case similar to this but cant really remember the details but was wondering if anyonw has similar case and how to solve it?
Wow, this is a lot!
What you need to remember here, is it's not about the answer. There are a million answers. What it's about is how you structure your thinking.
That being said, here's a quick example:
Objective: Getting people to live in the city
1) Understand current needs in market
What do people want? Space? Amenities? Cars? Public Transport? etc.
2) Prioritize needs
Figure out the most important needs. First, identify table stakes needs. Then make sure you address these no matter what.
Second, for non-table-stakes items, rank them. Figure out which ones, have the most "elasticity" I.e. for every extra dollar, how many more people do we get? Rank these
3) Identify pairings/synergies
Expand upon step 2 by figuring out what things can be done together. I.e. if we find out green + space + public transport is important, then, obviously, we can kill 3 birds with 1 stone (i.e. over-index on bikes, trams, etc. and limit options for cars). For these pairings, identify new dollar-per-citizen benefit
4) Set constraints and optimize
Figure out 1) How much $ we have and 2) What we're willing to spend per person.
From here, we can figure out the top designs we can afford, to what degree, and build out the city from there.
Market sizing
In order to figure out the # of people, you can literally just take what we selected from $2/3 (in terms of rate) and multiple by how much we're spending on each of them to get toal population. That's the beauty of this structure...you've done two-in-one :)
First of all, you need to understand objectives and constraints. These should be delivered in the case pitch or you should ask for them at the beginning.
This would include, among others:
After you know the situation, you can develop a framework that answers some of the conceptual questions and then estimates the number of people that could move:
Especially the assumptions for the share estimation would depend on any additionl information. Generally, you might want to split population into employed/unemployed, or companies that could be attracted with political incentives, etc..
This will allow you to piece together enough datapoints to make a very rough calculation.
Hello!
This is a very interesting case!
Before starting to structure it, you should clarify what the objective of our client is. Is this to make profit? Is this to reach to a certain population?
If the case is the latter, you should structure your case around this objective, getting people to live there.
At a very high level, you should answer the following questions:
(1) How can we design an attractive city for people to choose to live? Here you could look at factors and incentives that will make the city a desirable place to live.
(2) Do we have the capabilities & funds to implement this? Here we need to make sure that we are able to execute this move.
(3) What are the riks & alternatives to this move?
Hope this helps!
(edited)
Hello,
Don't you have any other information? There are some key factor that you should know
e.g. in which country you are gonna build the city?
Happy to help if you provide the case.
Best,
Luca
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