Hi there, when summarizing the case and giving a recommendation at the end of the case it is recommended to end with risks + next steps. Would you say the risks should consider (1) risks associated with the analyses that were performed, which led to the recommendation (e.g., analyses could have been more in-depth and might not cover all relevant aspects; customer survey might have a too small sample size,...) or rather the risks associated with the recommendation as such (e.g., if the recommendation is to outsource parts of the production: risks = unpredictable supply chain, quality might not be sufficient, IP risk, ...)? Or would you say it would be alright/good to mention both of these risk types? Thank you so much in advance
Risks in the recommendation - related to analysis or recommended solution?
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Both in my view, the more comprehensive you are the better it is.
Have a look at this thread- https://www.preplounge.com/en/consulting-forum/brainstorming-risks-in-case-interviews-8960
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Hi there,
While it's technically both, you'll generally find the latter is best. Risks regarding the recommendation itself are more prevalent and relevant. Furthermore, the next steps to mitigate them are far more persuasive.
I would personally first try to think of 2-3 risks regarding the recommendation itself, and, only if you can't think of anything, come up with risks regarding the analysis.
General Tips for Risks
Risks are anything that could go wrong. They are anything that the company would need to consider in moving forward with the recommendation.
As an example, with a merger, risks could be culture clash, regulatory approval, integration costs, merger synergies aren't realized etc.
As another example, any process/operational change comes with risks that your employees will be upset, that the changes cause more disruption than good, that the changes are not successful etc.
Always think about your company, the competition, and the environment in which you operate when considering risks :)
(edited)
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Hello!
I agree, a very good wrap up should include risks and next steps.
This said, both that you mention could be, but you are overthinking it.
That is the time to "rescue" some of the risks that you have mentioned before in your structure, concerning the overall case, since probably you don´t have that much time to think of the risks of your solution at that point of the case.
Hope it helps!
Cheers,
Clara
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Hi there, I guess there is no right or wrong answer.
In general, in my opinion, I would expect the candidate to focus on the business recommendations and potentially the risks associated with his/her business recommendations rather than the risks driven by partial and not deep-enough analyses.
In an interview and pretty much also in real life, consultants don't have time to analyze everything in depth, they need to prioritize and draw conclusions from the very small portion of data/issues that they analyzed, so putting in doubts your conclusions because the analysis was not deep/broad enough can show lack of confidence or even jeopardize the credibility of the work you have done (in an interview or in a real case).
Hope it helps
Franco
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