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Tag: "Framework"
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Framework

    Structuring good frameworks is my weakness, what steps can I take to tackle that?

    Case Structuring Exercise Framework Structure structuring
    Most recent answer 5 hours ago
    <p>Hi, I have observed that I am weak at structuring. May I know if there is an effective and efficient way for me to work on my strucuturing?</p><p>I have tried RocketBlocks, however, the suggested frameworks seem weak in comparison.</p><p>Once again, thank you for your time and answers.</p>
    Hey there,I can answer from a McKinsey perspective. At the core, McKinsey wants to see creative ideas communicated in a structured manner, the more exhaustive the better. Your goal should be to come up with a tailored a ... (read entire answer)
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    5 hours ago
    Last Activity

    Help needed on structuring for specific category profitability

    Case Interview case structure Case structure and frameworks Framework frameworks Structure
    Most recent answer 14 hours ago
    <p><strong>Case prompt:</strong></p><p><i>The client is a large retailer co. </i></p><p><i>She has asked us to look into the makeup category, which had sales of $500M last year. The category is profitable, but below the industry average. </i></p><p><i>Why is the profitability of this category lower than expected and how can the client increase category profitability?</i></p><p>Thank you bery much!</p>
    Hi there! I think with a case prompt like this, the best structure is a simple one based on breaking down profitability into its components. We want to know why profitability (likely more specifically “contribution marg ... (read entire answer)
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    14 hours ago
    Last Activity

    Where does product mix fit within a profitability framework?

    Framework Structure
    Most recent answer 20 hours ago
    <figure class="image"><img src="/uploads/qa/questions/11102/images/Screenshot%202021-08-03%20at%2011.54.12%20PM.png" alt="Screenshot 2021-08-03 at 11.54.12 PM.png"></figure><p> </p>
    Hi there, It doesn't fit under this type of profitability framework. This is the “simple” profitability framework layout (Revenue and Cost). The more advanced one is contribution margin! It's a big trickier to understan ... (read entire answer)
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    20 hours ago
    Last Activity

    Need help on structuring for business/process optimisation type of cases

    Framework structuring
    Most recent answer on Aug 03, 2021
    <p><strong>Case Prompt:</strong></p><p>Our client owns a designer shoe-store that makes high end made-to-measure shoes for customers. The high-quality product has gained popularity rapidly and the client wants to ramp up production. However, the highly-skilled labor that our client employs is hard to come by. Our client wants us to help them figure out how to increase output without adversely affecting quality and the company’s potential profitability.</p>
    Hi there! Great question. This is an interesting case prompt. As with all cases, there is rarely a perfectly “right” way to structure your thoughts. That being said, to start off, I would say something to acknowledge/ve ... (read entire answer)
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    on Aug 03, 2021
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    RocketBlocks Structuring Drills Suboptimal for Candidates?

    candidate-led Framework Structure
    Most recent answer on Jul 26, 2021
    <p>Hi all, I read Sidi's comments on how frameworks from casebooks are hanging in the air and do not logically relate back to the specific question. I was doing the structuring drills on RocketBlocks and noticed that the recommended answer had no logical reasoning.<br> <br> <strong>Prompt: </strong></p> <p>A UK brewer entered the North American market two years ago and has struggled to achieve profitability, despite replicating the same strategy they've successfully used in both the UK and European markets. The CEO has hired our team to help analyze the situation and make recommendations. How would you attack this issue?<br> <br> <strong>RocketBlocks suggested answer:</strong><img alt="" src="/uploads/qa/questions/10994/images/Screenshot%202021-07-26%20at%208.34.10%20AM.png" style="height:362px;width:600px;"></p> <p>Does the structure make sense in terms of how to solve for profitability?</p>
    Hi there, I LOVE Rocketblocks for math/charts/exhibit. I do NOT like Rocketblocks for structuring. Their structures/frameworks are extremely "flat", narrow, and not particularly objective-driven. Please don't confus ... (read entire answer)
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    on Jul 26, 2021
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    Market size difference by revenue vs by volume

    BCG Case Interview BCG McKinsey and Bain Framework Market sizing
    Most recent answer on Jul 04, 2021
    <p>I cant grasp the meaning and the difference between the two when it comes in market sizing questions</p>
    Volume is the number of sold unit, for example the number of passenger cars sold in Europe in the year 2020 Revenue is the money all participants earned with selling the units, for example the revenue all call manuf ... (read entire answer)
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    on Jul 04, 2021
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    Where can I practise drills like market sizing, developing frameworks, mental math?

    Framework
    Most recent answer on Jun 18, 2021
    <p>Which resource is the best? </p>
    Hey there, I recommend a simple approach. First, learn about how to properly create a framework focusing on a habit-based approach, i.e. learning what steps to take in a structure question rather than learning or fo ... (read entire answer)
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    on Jun 18, 2021
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    Approach Such Question

    Framework frameworks mckinsey McKinsey
    Most recent answer on May 02, 2021
    <p>hey guys,</p> <p>recently I had a few cases where the objective was to improve the clients business, for example</p> <p>1- Increase the profits of a product</p> <p>2- increase the number of people getting vaccinated in a city</p> <p>3- Improve output of the R&amp;D department</p> <p>I kind of struggled in their structuring, im not into frameworks alot but sometimes they guide you in approaching a case. So my question is, how would you guys approach such type of cases? what areas will you look at? thanks! </p>
    Hi there, You just asked for the entire framework/approach to 3 entirely different cases! We can't adequately provide you an answer to this Q that will actually teach you enough. I highly advise you to keep progress ... (read entire answer)
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    on May 02, 2021
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    What are a company's core competences?

    core competencies Framework
    Most recent answer on Apr 30, 2021
    <p>What are a company's core competences? Is there a framework to define them?</p>
    Core competencies are things a company is really good at. For example, for Coca Cola it would be things like Marketing Advertising Making and selling Beverages Setting up a cold chain Distribution of good ... (read entire answer)
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    on Apr 30, 2021
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    General Framework Guidance

    Conceptual thinking Framework McKinsey McKinsey & Company
    Most recent answer on Mar 28, 2021
    <p>With regard to frameworks, speaking particularly for McKinsey, is it important to cover the ENTIRE case (i.e. how I would go about solving it) or just state the FACTORS / SOULTIONS I would look to solve a question.</p> <p>Example - Client wants to increase profitability over the next 5 years</p> <p>A solutions / factors apporach would be revenue &amp; cost and their component parts such as price, mix, quantity, variable, and fixed. All ofcourse explained in more detail with custom sub-elements for the case.</p> <p>An overall approach I would suspect would be:</p> <p>1. Market Dynamic - Size/GR + Competition + Customer Segments + Macro Changes<br> 2. Profitability Solutions - Revenue (current avenues + new avenues) and Costs<br> 3. Risks / Implications</p> <p>I was under the impression that when asked for factors (usually the first question in McKinsey cases) I would do the former, however, it does make more sense to state the overall approach. </p> <p>Any feedback?</p> <p><br> Thank you so much for the response.</p>
    Hey there, Focus on the specific question asked by the interviewer. Since the McKinsey case is a succession of questions there is no need to boil the ocean but rather give a targeted answer to the question at hand. Th ... (read entire answer)
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    on Mar 28, 2021
    Last Activity

    Depth and width of framework?

    Framework McKinsey McKinsey & Company Mckinsey interview profitability
    Most recent answer on Mar 28, 2021
    <p>So I just had my first round second interview with McKinsey. Interestingly it was an interview with an associate partner.</p> <p>The interviewer pointed out at the start that I had a generic framework approach which I would argue is not entirely true. While the profitablity buckets were Revenues and Costs (generic) within this, I had expanded tailored to the industry and business specifically. </p> <p>Example: Integrated business so variable costs were different, High end products so associated branding and packaging costs. On the revenue side, since it was a revenue increase concern, I split it into existing, new, and inorganic and expanded within that.</p> <p>The interviewer then proceeded to ask me the 'what else' question 5 times for revenues and 3 times for costs. Each time appriciating my diverse ideas however, consistently asking for more.</p> <p>As a result, my question is, when presenting a framework we have 1-2 minutes, was this just the interviewer pressuring me to see if I could think wide or was there an issue with the framework.</p> <p>Note: I understand this is inadequate detail, so please do let me know what further information you would need, thank you!</p>
    Hey there, I think the misunderstanding might be in the difference between a framework derived for McKinsey vs. a framework created for other consulting interviews. At the core, McKinsey wants to see creative ideas ... (read entire answer)
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    on Mar 28, 2021
    Last Activity

    McKinsey Framework Development & Communication

    communication First Round Framework McKinsey McKinsey & Company McKinsey Interveiw partner
    Most recent answer on Mar 28, 2021
    <p>Hi, so this question has come up after my recent inteview (round 1, 2nd interview) with McKinsey that I would like to clarify on.</p> <p>The first question I was asked in the case interview was 'What factors would you consider to assist out client in their problem' (the regular structure development question). Now so far, when preparing for McKinsey, I was always told to answer said question in a consise manner, stating the key buckets and provide an overview of sub-components with some order of priority and then let the interviewer determin where they would like to explore, in the interest of time.</p> <p>So, in my case, it was a profitability increase question for a tech product business. So, I broke it down as revenues and costs, then, I moved to segment revenues in terms of increasing opportunities from the existing product line, this included changes in price based on target segment senstivity and product positioning, increasing channel penetration of retail (the case mentioned it was a retail product) for better in-store placements and availability, and more (I'm paraphrasing here) and I did largely the same with costs, segmenting into variable and fixed. Connecting with the prompt of the company being fully integrated, I spoke about costs in that manner.</p> <p>Now, as the interview proceeded, my interviewer then moved to ask the 'what else' question repeatedly and eventually led me in the direction of stating how I would VALIDATE (his words) my ideas, so when I said market including size / growth rates segmented by geography or customer segments, competitive landscape and rate of innovation, and more (again paraphrasing) that is when he was satisfied, or so it seemed.</p> <p>The question that comes up here then is, to what extent should I build my framework? In hinesight now, it would've made sense to say market and product understanding first, then the profitability equation, and then maybe even the solution implementation strategy and risks however, going in the level of detail my interviewer took me in would have taken quite a while. For reference, with him it took 16 minutes of him just exploring my approach. If I was just explaining these in one go, it would've still taken 3-4 minutes at least.</p> <p>So was this a pressure test to see if I actually knew what I was talking about or if I had just regurgatated what I had learned as a framework (maybe he felt that way at some point seeing it was just Rev - Cost at the high level) or did I miss something.</p> <p>I understand this post is long and thank you for taking the time to read this. Just as a final note, this was a round 1 interview and oddly it was with a partner.</p> <p>Thank you for your response. </p>
    Hey there, I think the misunderstanding comes from the difference between a framework crafted for McKinsey vs. a framework created for other consulting interviews. At the core, McKinsey wants to see creative ideas c ... (read entire answer)
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    on Mar 28, 2021
    Last Activity

    Outsourcing problem

    case study Framework outsourcing
    Most recent answer on Mar 11, 2021
    Anonymous A asked on Jun 27, 2019
    <p>Hi I was just found out a case where it was asking how to decide if outsourcing some parts of a train to china would be a good idea or not, being the client a major US train manufacturer.</p> <p>I've came up with this framework or solution but not sure about it as it seems rather different to the usual ones:</p> <p>1st watch out if the price will be lowered.</p> <p>In order to see that I would look at the cost of manufacturing, fixed costs in order to develop the new supplier, transport cost, tariffs, quality checking cost and both interest rates and exchange rate.</p> <p>2nd try to figure it out if it meets que quality standards</p> <p>In order to do it having a rigurous analysis of the suppliers expertise, having quality controls and maybe watching for "prototypes" or any other tangible stuff that could prove their expertise.</p> <p>3rd trying to understand the predictability of the supply chain</p> <p>Here it would be a due dilligence about which problems may occur, the expected outcome, having an analysis of the process and lead times. Then analysing possible political issues (China vs US...) and finally deciding how much inventory should be increased (and its cost)</p> <p>4th analysing other possible risks </p> <p>In this case I was thinking about public image that could be damaged or maybe intellectual property being stolen (not sure if this would be seen as rude or a good point to check)</p> <p>5th looking for better alternatives</p> <p>Maybe looking for new local suppliers, acquiring a manufacturing company or starting a new one in a labour low cost country or renegotiating contracts.</p> <p>What do you think about this approach, do you think it could be used or is it way too unconventional and those "questions" that I designed before what I am actually looking for may be seem as a waste of time or not structured enough?</p>
    Hi I was just found out a case where it was asking how to decide if outsourcing some parts of a train to china would be a good idea or not, being the client a major US train manufacturer. I've came up with this framew ... (read entire question)
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    on Mar 11, 2021
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    Case: selling a division of a company

    Framework
    Most recent answer on Feb 16, 2021
    <p>Good afternoon.</p> <p>When giving a case like: our company is a juice producer and one of the divisions is not profitable. Should we sell this division?</p> <p>How would you make the initial structure/framework ?</p> <p>Thanks. I am looking forward to having your suggestions.</p>
    You need to think about the industry/business context, the company context, and the situationally/problem context. Only then can you create an appropriately tailored profitability breakdown. In general, for determin ... (read entire answer)
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    on Feb 16, 2021
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    Profitability cases - use standard framework?

    Framework Profit cases
    Most recent answer on Jan 31, 2021
    <p>For ostensibly straightforward profit problems, is there any downside/upside to using anything other than a standard profit framework by itself? Like including a market/customers/competitors as other tier-1 topics alongside financial considerations?</p> <p>It seems like I could fit these other topics under a profit framework and it would be logically consistent but depending on the case prompt there might be things I'd want to elevate as potential areas of consideration.</p> <p>Curious to know what the consensus is on this. Thanks!</p>
    Hi Robin! In essence, profitability problems are diagnostic scenarios. As such, you need to first identify the core of the problem by means of a diagnostic, before then outlining the strategic options to address the d ... (read entire answer)
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    on Jan 31, 2021
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    Public sector framework

    Framework
    Most recent answer on Dec 31, 2020
    <p>Does anyone have a generic framework to think about public sector cases?</p>
    Hi, There is no generic framework since the variability of public-sector cases is tremendous. Moreover, the overall "Generic framework" approach is the wrong direction in your case prep. To provide a bit of structu ... (read entire answer)
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    on Dec 31, 2020
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    Structuring profitability cases

    Case Case Interview Framework profitability Structure
    Most recent answer on Dec 31, 2020
    Anonymous gave the best answer on Sep 11, 2017
    <p>I've seen so far that we should avoid asking questions which could already lead to a solution while doing the background check, before coming up with a framework to structure the case. That being said, I wonder if in a profitability case is it ok to ask for costs and revenues' segmentations for the business, prior to lay down the appropriate structure i.e. profits = revenue - costs, revenues=volume*...</p> <p>I'm afraid that could be seen as an initial approach in a unstructured way (not a best practice), althoug I think it could lead to a more directioned approach for the framework.</p>
    Dear Future Consultant, At the beginning, it is tough to draw the line between the so called "initial questions" and the "structure." To master this skills would require practice, and what you have to ask on each side ... (read entire answer)
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    on Dec 31, 2020
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    Structure/Framework for Cost Cutting Cases

    Framework
    Most recent answer on Dec 30, 2020
    <p>Hi, let's say the prompt is about a manufacturing company seeing rising cost. How would you answer "what factors would you anayze in order to reduce cost?". I could only think of segmenting my framework to typical cost drivers to see which one is the root cause. Would I need to mention revenue/customer/competition etc.?</p>
    Hi there, Great question. In general, for determining cost issues, you need to break down the problem into a tree/root-cause analysis and ask the highest level (but specific) questions first! In this way, you essent ... (read entire answer)
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    on Dec 30, 2020
    Last Activity

    Freaking out about frameworks

    Framework
    Most recent answer on Dec 30, 2020
    <p>Hi all, </p> <p>I guess I'm a little lost and kind of anxious about building frameworks. I have been practicing for a few weeks and I had researched this for enough time to become familiar with the mistake of memorizing frameworks. Because of this, I have relied on my common sense to build frameworks for every case. </p> <p>Now I'm starting to doubt my approach. Especially when others do have the knowledge of other frameworks and their uses and it feels like I'm completely out of the loop in discussions like that. I'm tempted to go and look at a set of frameworks now. </p> <p>What do I do? Remain "creative" and risk missing out on some very basic discussions if they arrise or go learn frameworks which could perhaps make me a bit more robotic which I can't even bare the thought of. </p>
    Hey, nah dont get disheartened. Very common what you are experiencing: 1. Use the frameworks to give you a head start but dont get bogged down by them. Use them as required. Structured thinking + common sense + asking ... (read entire answer)
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    on Dec 30, 2020
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    Analysing competition when determining market attractiveness

    Case Interview competition Framework Market analysis market entry
    Most recent answer on Dec 14, 2020
    <p>Hi,</p> <p>I'm a little confused when understanding how attractive a market is to enter and analysing the barriers to entry or level of competition. It seems that a market with a few consolidated players with high market shares is attractive to be in, but difficult to enter and capture initial market share. Conversely, a fragmented market with several small players is likely easier to enter but less attractive to be in. So, which of these is desirable, and what use does it serve in an analysis of whether to enter or not?</p> <p>Thanks!</p>
    Hi there, You're absolutely right! One is not necessarily more attractive than the other! The best thing to look at, in realitty is expected margins and expected market share. That's what really matters. That said, ... (read entire answer)
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    385
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    on Dec 14, 2020
    Last Activity
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