expert
Expert with best answer

Vlad

97% Recommendation Rate

344 Meetings

4,540 Q&A Upvotes

USD 319 / Coaching

How to pick a good (non-generic) and appropriate framework?

Jiawei asked on Mar 03, 2019

While practicing a case with a consultant, I was told that my framework was too generic. It was a merger & acquisition case, and I used a "Customer, Product, Company, Competition" framework and applied that to Company A, Company B, and A+B.

I agree that it's sort of a generic framework and is not very compelling. But how can we avoid using generic frameworks and come up with a framework that better fits the situation? Is it just by experience or are there ways that we can use to improve this skill?

Thanks.

(edited)

1 answer

  • Upvotes
  • Date ascending
  • Date descending
Best Answer
Vlad replied on Mar 04, 2019
McKinsey / Accenture / Got all BIG3 offers / More than 300 real MBB cases / Harvard Business School
Book a coaching with Vlad

97% Recommendation Rate

344 Meetings

4,540 Q&A Upvotes

USD 319 / Coaching

Hi,

No Magic pill - it comes with practice.

You should build a structure using your previous experience, based on:

  • Objective (Should have a metric and time-frame)
  • Context

There is a number of ways how you can approach in a MECE way:

  1. If your structure works mathematically (e.g. Total time spent on cleaning operation = # of people x Frequency x Hours per cleaning per person)
  2. If your structure comes from a well-known formula (e.g. output rate = total number of people being served / time to serve one person)
  3. If you are using the common industry drivers (e.g. revenues = # of customers x av. check) (e.g Passengers on the plane = capacity x Load Factor) or the industry revenue streams (Fuel revenues / non-fuel revenues for the gas station) or the functional drivers (e.g. for the problems in sales : Sales strategy / sales people and allocation / motivation / sales process)
  4. If your issue tree is a real framework used by the consultants (e.g. the famous Bain Cap framework for PE due dills: Market / Competitors / Company / Feasibility of exit) (e.g. People / Process / Technology) (e.g. The famous McKinsey framework - People don't want to do smth / they can't do smth / smth prevents them from doing that)
  5. If your structure is a well-known academically MECE framework (e.g. Product / Distribution / Price / Marketing (Also known as 4P))

Best

Related BootCamp article(s)

Case Studies

The case study is the most important element of the case interview, which you'll have to nail in order to get into strategic consulting. Here you can learn the specific skills and concepts necessary to solve them.

Focusing on The Core: Mock Interviews

It is to practice as many cases as possible - both as interviewee and as interviewee. Here are a couple of guidelines to help you get started