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Consulting Q&A

Consulting Q&A – Ask Questions about Your Career

In this overview, you will find all the questions asked so far by the PrepLounge community. Anyone can ask questions and write answers. Our coaches are also happy to share their expertise. If you like an answer, give it an upvote so that it rises to the top. Here you can also find our guidelines and FAQs for the Consulting Q&A.

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Consulting related research (draft PhD research proposal 4.0)

consulting phd Problem Solving
Most recent answer on Mar 28, 2024
The best answer (on Mar 28, 2024) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Mar 28, 2024
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
The proposed theoretical comparison of different Problem Solving Methods (PSM) is well-structured and comprehensive. It addresses key components such as defining business problems (BP), types of BPs, understanding PSMs, ... (read entire answer)
3
Answers
96
Views
32
Total Upvotes
on Mar 28, 2024 on Mar 28, 2024
Last Activity

"Research related to consulting" or "PhD research proposal draft development 4.0"

consulting phd Problem Solving Research
Most recent answer on Mar 19, 2024
The best answer (on Mar 19, 2024) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Mar 19, 2024
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
The proposed research aims to explore and articulate the similarities and differences between business problem-solving methodologies and scientific (academic) methodologies. This is a valid and potentially insightful re ... (read entire answer)
3
Answers
123
Views
39
Total Upvotes
on Mar 19, 2024 on Mar 19, 2024
Last Activity

PhD research proposal draft development 3.0

business school phd Problem Solving Research
Most recent answer on Mar 13, 2024
The best answer (on Mar 11, 2024) is from:
Cristian
Expert
#1 rated MBB & McKinsey Coach
Cristian
Expert
 gave the best answer on Mar 11, 2024
#1 rated MBB & McKinsey Coach
I like your perseverance.  My main issue with your research question is that it is too exploratory and too wide.  ‘Boundaries, overlaps, limitations and opportunities’ are already 4 categories of content that are enormo ... (read entire answer)
4
Answers
149
Views
34
Total Upvotes
on Mar 13, 2024 on Mar 13, 2024
Last Activity

Last Round EY / Presentation Case Interview Issue Tree practise

issue tree Problem Solving written case
Most recent answer on Mar 12, 2024
The best answer (on Feb 23, 2022) is from:
Adi
Expert
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience
Adi
Expert
 gave the best answer on Feb 23, 2022
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience
I get a feeling you are over thinking this. Feel free to send me a direct message and I will be happy to put you in touch with people who I have successfully placed in EY (London). For the purposes of the EY case, consi ... (read entire answer)
8
Answers
1.6 k
Views
78
Total Upvotes
on Mar 12, 2024 on Mar 12, 2024
Last Activity

be part of academic research partly related to consulting field

Problem Solving Research
Most recent answer on Mar 04, 2024
The best answer (on Mar 03, 2024) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Mar 03, 2024
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi there, I'm really sorry, but I really don't understand what you're after here. Your Question #1: We can't answer this for you…this is what creating a thesis is about…YOU have to work through this For Question #2: I s ... (read entire answer)
3
Answers
183
Views
36
Total Upvotes
on Mar 04, 2024 on Mar 04, 2024
Last Activity

Mckinsey new hire - advice on development and should I work on weekends?

analysis entry level Excel McKinsey newbie PowerPoint Problem Solving
Most recent answer on Oct 15, 2023
The best answer (on Jan 06, 2019) is from:
Vlad
Expert
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Vlad
Expert
 gave the best answer on Jan 06, 2019
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Hi, First of all - try to get on the project. There is nothing worse than sitting on the beach with no skills Secondly - please practice on your own I would concentrate on getting the right financial modeling skil ... (read entire answer)
3
Answers
4.3 k
Views
22
Total Upvotes
on Oct 15, 2023 on Oct 15, 2023
Last Activity

Training problem-solving skills for McKinsey PSG

Imbellus McKinsey PST Problem Solving PSG
Most recent answer on Aug 31, 2023
The best answer (on Jul 26, 2023) is from:
Cristian
Expert
#1 rated MBB & McKinsey Coach
Cristian
Expert
 gave the best answer on Jul 26, 2023
#1 rated MBB & McKinsey Coach
Hi there,  Your confidence might be the biggest issue. It doesn't help to think little of your own skills because it can turn into a self-fulfilling prophecy.  I also have a poli-sci background and actually some of the ... (read entire answer)
5
Answers
500
Views
15
Total Upvotes
on Aug 31, 2023 on Aug 31, 2023
Last Activity

What are some of your most favourite heuristics for solving business problems?

approaching a case Problem Solving
Most recent answer on Jan 05, 2023
The best answer (on Jan 05, 2023) is from:
Cristian
Expert
#1 rated MBB & McKinsey Coach
Cristian
Expert
 gave the best answer on Jan 05, 2023
#1 rated MBB & McKinsey Coach
Hi there,  I'm a big fan of the idea that there are no shortcuts. Or at least that the best shortcuts one ends up using are ones that they discover on their own, that are specific to them.  Still, I get your point. From ... (read entire answer)
7
Answers
635
Views
97
Total Upvotes
on Jan 05, 2023 on Jan 05, 2023
Last Activity

Is design thinking important in consulting interviews?

McKinsey McKinsey & Company Problem Solving
Recent activity on Dec 26, 2022
The best answer (on Aug 22, 2022) is from:
Florian
Expert
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets
Florian
Expert
 gave the best answer on Aug 22, 2022
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets
Hi there, Good thinking and cool book you mentioned; definitely helps with tackling problems on a grander scale. However, rest assured that in case interviews - and specifically for McKinsey, you already start with a we ... (read entire answer)
7
Answers
3.4 k
Views
41
Total Upvotes
on Dec 26, 2022 on Dec 26, 2022
Last Activity

How to improve problem solving / structuring on the job?

Problem Solving
Most recent answer on Oct 31, 2022
The best answer (on Oct 30, 2022) is from:
Maikol
Expert
BCG Project Leader | Former Bain, AlixPartner, and PE | INSEAD MBA | GMAT 780
Maikol
Expert
 gave the best answer on Oct 30, 2022
BCG Project Leader | Former Bain, AlixPartner, and PE | INSEAD MBA | GMAT 780
My first suggestion is to hire a coach. Beyond that, and just to be 80/20, let me give you just one suggestion: train yourself to identify the objective of the case, then identify 3-5 key drivers, and then focus on just ... (read entire answer)
4
Answers
587
Views
24
Total Upvotes
on Oct 31, 2022 on Oct 31, 2022
Last Activity

What does Outside-In mean?

Problem Solving
Most recent answer on Dec 07, 2021
The best answer (on Dec 06, 2021) is from:
Florian
Expert
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets
Florian
Expert
 gave the best answer on Dec 06, 2021
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets
Hey there, Usually, this means looking into a company or a situation without insider information or data. What I often did at McKinsey is to look at competitors and compare their financials to the client's financials.  ... (read entire answer)
5
Answers
1.1 k
Views
45
Total Upvotes
on Dec 07, 2021 on Dec 07, 2021
Last Activity

Case challenges

approaching a case Bain & Company BCG Case Interview Problem Solving
Most recent answer on Aug 24, 2021
The best answer (on Aug 24, 2021) is from:
Sofia
Expert
Top-Ranked Coach on PrepLounge for 3 years| McKinsey San Francisco | Harvard graduate | 6+ years of coaching
Sofia
Expert
 gave the best answer on Aug 24, 2021
Top-Ranked Coach on PrepLounge for 3 years| McKinsey San Francisco | Harvard graduate | 6+ years of coaching
Hello, To answer the first part of your question, it really depends. Francesco has pointed out some of the more common pitfalls, but it will always depend on the candidate and the case. Understand where the biggest diff ... (read entire answer)
3
Answers
1.3 k
Views
48
Total Upvotes
on Aug 24, 2021 on Aug 24, 2021
Last Activity

Pepp up problem solving skills

Problem Solving
Most recent answer on Dec 18, 2020
The best answer (on Dec 15, 2020) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Dec 15, 2020
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi Andrej, "As any student who is applying for consultancy" is a vague term...considering most people applying for MBB etc. prepare wrong :) In general, yes, if you want to improve your skills here you should prepar ... (read entire answer)
5
Answers
939
Views
34
Total Upvotes
on Dec 18, 2020 on Dec 18, 2020
Last Activity

Problem solving skills

Math problem Problem Solving quant problems Word problems
Most recent answer on Dec 10, 2020
Anonymous gave the best answer on Oct 20, 2020
I don't think verbal GMAT questions would be a good way of practicing problem solving. I would rather suggest to (a) read business literature like the Economist or the FT to build general business judgement, and (b) you ... (read entire answer)
4
Answers
1.3 k
Views
23
Total Upvotes
on Dec 10, 2020 on Dec 10, 2020
Last Activity

How to improve my approach to math problems?

Math problem Problem Solving quant problems
Most recent answer on Oct 20, 2020
Anonymous gave the best answer on Oct 11, 2020
Hi Floyd! when approaching the quant part of a case, it is important to think of it as a "mini case", as the approach would be exactly the same: Take some time at the beginning to structure the problem. Define the ... (read entire answer)
5
Answers
1.0 k
Views
47
Total Upvotes
on Oct 20, 2020 on Oct 20, 2020
Last Activity

Do I lack problem solving skills? Which prt of problem solving do I suck at?

Problem Solving
Most recent answer on Oct 03, 2020
The best answer (on Sep 17, 2020) is from:
Vlad
Expert
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Vlad
Expert
 gave the best answer on Sep 17, 2020
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Probably at asking the questions in a right way
6
Answers
1.1 k
Views
34
Total Upvotes
on Oct 03, 2020 on Oct 03, 2020
Last Activity

© PrepLounge Brainpower: COVID-19 – Can we find solutions?

brainpower combatcovid community Coronavirus covid19 Problem Solving
Most recent answer on Apr 03, 2020
Christine
Admin
 asked on Mar 31, 2020
PrepLounge Community & Marketing Manager
Dear PrepLounge Community, We are deeply saddened by the global number of human casualties due to the coronavirus that has doubled within the last week since we posted the previous thread. We hope that all of you are safe and continue to take care of yourselves and others. On the positive side, we are overwhelmed by your contributions to #combatcovid so far! Great to see how the PrepLounge community spirit is uniting candidates, coaches as well as consulting firm representatives to create some value during this global crisis. We have summarized the main problem areas that you have ide ... (read entire question)
3
Answers
2.8 k
Views
28
Total Upvotes
on Apr 03, 2020 on Apr 03, 2020
Last Activity

© PrepLounge Brainpower: COVID-19 – Which problems and issues will arise?

brainpower combatcovid community Coronavirus covid19 Problem Solving
Most recent answer on Mar 28, 2020
Christine
Admin
 asked on Mar 20, 2020
PrepLounge Community & Marketing Manager
EDIT: We have now opened a new thread for the second step of the #combatcovid challenge and find solutions for the problems arising from this global health crisis. Dear PrepLounge community, dear PrepLounge experts, First of all, we hope that you are well and healthy during this global health crisis the world is experiencing right now. On PrepLounge, we and most of our community are no doctors, nurses or cashiers who must risk their health for each and every one of us every day. Most of us are management consultants now in their home offices or university students doing online courses. ... (read entire question)
8
Answers
6.5 k
Views
174
Total Upvotes
on Mar 28, 2020 on Mar 28, 2020
Last Activity

Transition from identifying root cause to implementing solution

Baringa Partners Government Presentation Case Problem Solving Public Sector
Most recent answer on Mar 23, 2020
The best answer (on Mar 12, 2020) is from:
Luca
Expert
BCG |NASA | SDA Bocconi & Cattolica partner | GMAT expert 780/800 score | 200+ students coached
Luca
Expert
 gave the best answer on Mar 12, 2020
BCG |NASA | SDA Bocconi & Cattolica partner | GMAT expert 780/800 score | 200+ students coached
Dear anonymous, The focus of the case can vary a lot depending on the case. Generally speaking you should go through the following steps: Identify root causes Find a solution Assess feasibility of solution (wi ... (read entire answer)
3
Answers
1.6 k
Views
6
Total Upvotes
on Mar 23, 2020 on Mar 23, 2020
Last Activity
19 results
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