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Tag: "approaching a case"
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approaching a case

    Building industry knowledge to solve cases

    approaching a case case structure Case structure and frameworks Case Structuring industries industry dynamics Structure
    Most recent answer on Feb 22, 2021
    <p>Hi,</p> <p>I've noticed while practing for cases that my frameworks are stronger and more insightful when dealing with an industry which I am more familiar with, while I struggle and revert to standard, boring frameworks when in less familiar industries. </p> <p>I was wondering whether there were particulary useful ways of building knowledge of unfamiliar industries so that I can improve my frameworks in these case problems? I'm thinking in terms of revenue and cost structures, margins, risks, competition, etc. I've gone through industry overviews from casebooks which have been useful but I'm looking to expand on that.</p> <p>Thanks!</p>
    Hi there, You're 100% right...this knowledge seriously helps with taking your casing to the next level.. I have a template, so feel free to reach out if interested! Some key tips: List all the major indust ... (read entire answer)
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    on Feb 22, 2021
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    Tips for taking initial notes?

    approaching a case notetaking
    Most recent answer on Jan 21, 2021
    <p>Some long prompts involve quite a bit of data. I'm having trouble writing everything down and/or even remembering what i miss. Sometimes it feels like the interviewrs are talking much to fast. Any tips to be a better listen / better at jotting down notes during the initial prompt?</p>
    Hi Anonymous, in order to write better notes, my recommendation is to divide the paper into 4 areas as reported below for the first page; when taking notes, you can then put the information in the appropriate box. Som ... (read entire answer)
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    on Jan 21, 2021
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    Cost Reduction - Structure

    approaching a case Cost reduction cost structure cost-benefit analysis MBB Cost Structure profitability cost reduction Structure
    Most recent answer on Jan 15, 2021
    <p>I recently came across a case on cost reduction through vendor management. How will you go about structuring this case? Here is the excerpt of the case:</p> <p>Your client is a wealth management firm. Various departments of your client organization require some data service and hence, each department signed individual contracts with the data vendor. The client doesn’t have a central vendor management function and hence, each department signed individual contracts. Recently, the client got to know that the vendor is the same for many departments, and the vendor is charging each department a different fee for potentially similar service (to be investigated). The client has hired you to investigate this issue with the objective to save cost. How will you go about structuring this problem? What specific questions will you ask the department representatives while investigating?</p>
    Hi Ish, 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 essentially move down the ... (read entire answer)
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    on Jan 15, 2021
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    Practicing Cases - no success

    acceleration of preparation approaching a case MBB
    Most recent answer on Dec 31, 2020
    <p>Hello,</p> <p>i bought 3 books about how to solve cases and worked through them. In addition, I have done over 30 cases and spent 4 hours with a coach. Nevertheless, I am not getting any further in my learning success. I am a bit frustrated and do not know how to approach the whole thing. Somehow it is never perfect, or I struggle with small details. That's why I'm asking myself, how do you become advanced or very good in casing? Does anyone has some recommendations? </p>
    Hi Anonymous, Before giving you a piece of advice, I would like to point out that getting stuck isn't always bad. Sometimes it can be a sign that means you need some break. If you're preparing without proper re ... (read entire answer)
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    on Dec 31, 2020
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    What is the right amount of time to ask for when providing your initial structure?

    approaching a case case structure
    Most recent answer on Dec 30, 2020
    <p>Typically, on receiving the case and asking the clarifying questions, the protocol is to ask for some time to come up with your structure / hypothesis before you explain your approach to solve the case to the interviewer.</p> <p>What is the right amount of time that would be considered acceptable to the interviewer? Is 3-4 minutes too long? Or acceptable? I timed myself for one of the cases and 1 minute is too short. I may be able to get by in 2 minutes but that is on a standard case. On an unconventional case, the thought process is longer. </p> <p>Thanks for answering!</p>
    Hi, Depending on the part of the case I usually say: Can I take 30 sec / a minute to structure my thoughts / analyze the numbers, etc? In terms of the use cases: Always take: 1-2 min for initial structure. But ... (read entire answer)
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    on Dec 30, 2020
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    Not improving at case interviews?

    approaching a case Case Case Interview case interview preparation Case Prep Case training flatline McKinsey McKinsey Final Round Practice cases prep preparation
    Most recent answer on Nov 17, 2020
    <p>I'm preparing for case interviews and I feel like I'm not improving. Last year I interviewed for MBB, and I bombed all my first round interviews. Before those interviews, I did 30+ live practice cases on Prep Lounge. I used Victor Cheng's video tutorials and LOMS. And I skimmed through Case In Point. And I still sucked in the real interviews. I just feel really slow during the cases, it takes me a long time to think of questions to ask, and I don't feel like I reach the insight needed to get the answer.</p> <p>This time around, I've skimmed again through Case In Point, and developed my own framework. I've read through the practice cases in CiP and I feel like in a real case there would be no way I could digest so much info at once. And I still feel like I really suck at cases and I'm not improving.</p> <p>I guess I am looking for advice? On how to actually improve? I feel like nothing is helping, even when I did live cases last year on PrepLounge I didn't feel like I was improving.</p> <p>Thank you in advance!!</p>
    Hello Shaan, You are pointing a problem that most candidate are facing after a first round of preparation. Somehow you manage to sometime solve the case, but you haven't yet understood in details what make you succeed ... (read entire answer)
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    on Nov 17, 2020
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    How to develop creativity?

    approaching a case Case Interview Creative MBB
    Most recent answer on Nov 14, 2020
    <p>Hello!</p> <p>I have gone through a few interviews with consulting firms. The feedback that I have gotten was that I should work on my creativity a bit more. Personally, I am sometimes thrown off by unconventional cases (not business ones and not "how would you calculate the number of golf balls that could fit into an airplane?"). Therefore, could you please suggest how to develop creative thinking? Any books or reading you could recommend? </p> <p>I currently work in finance, and the nature of work does not quite imply out-of-scope thinking. I know to some extent creativity is a bit more of a habit and, perhaps, doing something to develop this habit would help me progress.</p> <p>Thank you!</p>
    Hi Anonymous, problems with creativity are usually due to a lack of structure for questions the candidate didn’t see before, which leads to partial/incomplete brainstorming. Therefore, to improve your creativity, you ... (read entire answer)
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    on Nov 14, 2020
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    Advice on fit questions and case interview at A.T. Kearney

    A.T. Kearney approaching a case ATKearney behavioral interviews Big4 business analyst Case Interview coffee consulting Interview interview process Paris interviews Personal Fit
    Most recent answer on Oct 29, 2020
    <p>Advice on fit questions and case interview at A.T. Kearney - Paris office for the Business Analyst position. </p> <p>- Typical questions asked to inexperienced applicant</p> <p>- Most common case interview</p> <p>Thanks</p>
    Hi, I recommend the following approach: 1) Start with "Case in point" book - you can download this book for free everywhere. It's not the best guide on how you should approach the cases, however, it will give you th ... (read entire answer)
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    on Oct 29, 2020
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    Good way for in-depth analysis of profitability cases?

    approaching a case profitability analysis Structure
    Most recent answer on Oct 09, 2020
    <p>Dear experts! </p> <p>I am struggling to find a good way of analyzing profitability cases deeply. So I normally start with the usual question to see if it is a company-specific problem, or a market-wide problem. But then, I am not sure how I can continue properly. If it is a market problem - do I then run a market analysis? If I do this, I tend to get lost and after a couple of minutes, the interviewer needs to help me out. So how can I approach such analyses in a better and more secure way?</p>
    Hi Anonymous! Alright... This will take a bit. I feel I have to explain a couple of absolutetely crucial points here. In fact, your described initial approach corresponds to what is outlined in the usual case prep ... (read entire answer)
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    on Oct 09, 2020
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    The right moment to stop practicing and to go to interviews

    approaching a case Bain BCG BCG Interview Process case partners Mck RolandBerger
    Most recent answer on Sep 05, 2020
    <p>What is the criteria to understand when its the right momento to go to interviews? Is it when your performance is perfect anytime you do cases? Is it a feaseable target?</p>
    Hi Anonymous, some criteria that signal you are good enough for an interview are the following: Reached passing score for tests you will have to do as part of the application (eg McK PST, BCG Potential test) Hav ... (read entire answer)
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    on Sep 05, 2020
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    Prep4Success Coaching Program Premium - expert sessions with P4S Experts

    approaching a case Case Prep Case preparation caseinterview coaching expert hire Expert Meeting Package
    Most recent answer on Aug 20, 2020
    <p>I'm so greatful for the answers I received on my previous question - undoubtedly a great community of experts here. I have another question if someone can help me. </p> <p>As a beginner to the site, I'd like to get to know a bit more about enrolling on to Prep4Success Coaching Program. I saw a response to approach this from Astrid as below and I'd like to follow:</p> <p>Step 1: Go through the existing materials/books I already have in possession (by June 2019).</p> <p>Step 2: Go through our BootCamp and the Tutorials on PrepLounge - <strong>Is this all for free?</strong></p> <p>Step 2: Practice cases with case partners (and experts) - <strong>Premium package? </strong></p> <p>Step 3: Learn practical skills with our Project simulations - <strong>any advise how to approach?</strong> </p> <p><strong>Prep4Success Coaching Program Premium 5/10 expert sessions with P4S Experts is it possible to meet the experts face to face or only online meetings?</strong></p> <p>Kindly point me to the pages if these are already been discussed somewhere in the forum?</p> <p>Curious &amp; thankful regards,</p> <p>AJ</p>
    UPDATE: ​ Hi everyone! You may have noticed that the Prep4Success program has been replaced by the new CoachingPlus program. It's the ideal case interview prep package, that includes everything you need to ace your upc ... (read entire answer)
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    on Aug 20, 2020
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    Profitability case framework approach

    approaching a case Framework profitability analysis
    Most recent answer on Aug 18, 2020
    Anonymous gave the best answer on May 08, 2017
    <p>Hi everyone!</p> <p>I have a question regarding Profitability case framework. Currently I see two approaches:</p> <p>1) <u>Profit = Revenue - Cost</u>, and then Market/Consumer/Competition/Company is covered behind either Revenue or Cost depending on the case.</p> <p>2) <u>2 branches: External factors</u> (Market, Consumer, Competition), <u>Internal factors </u>(Profit components and Company itself). </p> <p>Please, kindly clarify which approach is best and why?</p> <p>Many thanks in advance!</p>
    Hi Anonymous! Both are valid approaches. As a rule of thumb, 1) is more suitable for a quantitative assessment (e.g. "By how much has profit declined?"), while 2) seems like a good approach for a qualitative question ... (read entire answer)
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    on Aug 18, 2020
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    Market sizing: How much do cinemas in Bangkok earn per month

    approaching a case case partners
    Question edited on Aug 14, 2020
    <p>How much do cinemas in Bangkok earn per month?</p>
    Hi Kiga. Great question. I'd like to offer some tips on the appraoch towards market sizings in general. (0) Clarification - step 0 is clarifying what is being asked. This must be done in every case and for any probl ... (read entire answer)
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    on Aug 14, 2020
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    Clarifying questions for cases

    approaching a case
    Most recent answer on Aug 13, 2020
    <p>Hello,</p> <p>I was wondering what advice you all have about asking general questions before you provide a framework. How much and how little should you ask before a framework? What are some general guideliens/ tips you have? </p> <p>Thanks! </p>
    Hi, have a look here: https://www.preplounge.com/en/consulting-forum/clarifying-questions-1455 Regards, Daniel
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    on Aug 13, 2020
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    How would you quantify the difference between two very different things?

    approaching a case asking questions Framework teamwork
    Most recent answer on Aug 08, 2020
    <p>Hi all. </p> <p>Recently, we had a team meeting, and some interesting topics were put on the table.</p> <p>However, our team leader gave an exciting question for the team to solve.</p> <blockquote> <p><strong>How would you quantify the difference between THE Blue Pill "that one" and an M&amp;M's candy? </strong></p> </blockquote> <p>The propose of this question is to test our approach to an unusual problem.</p> <p>I am thinking of actually looking at like this:</p> <ul> <li>the active ingredients in each</li> <li>what is the documented impact</li> <li>target market </li> <li>selling price</li> <li>where to find</li> </ul> <p>I am curious to learn how different your approach would be. </p> <p>Cheers.</p>
    Hi! This is a very nice example of a question that is too undefined to structure. So the precondition to come up with any meaningful approach is ot nail down the person who asked the question on the reference point of ... (read entire answer)
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    on Aug 08, 2020
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    Spending too much time on cases, how to improve?

    approaching a case Time limit
    Most recent answer on Jul 03, 2020
    <p>When I mock interview, the main feedback I get is while I am structured and have good business sense, I am taking too long to complete the case, and often don't finish.</p> <p>For some cases, there are only a few components that are meant to be explored in detail (ex. one framework, one analysis, one chart, one brainstorming section, and one recommendation). For these cases, I generally finish on time and receive good feedback. However, there are other cases that seem like they contain multiple cases, with the expectation that a candidate will move quickly through some sections.</p> <p>How can I recognize which cases require a detailed exploration of a few components and which require a more broad analysis of more parts as I'm doing a case?</p>
    Hi there, I see two possible reasons for your issue with the cases where you are going long: You don’t use a hypothesis-driven approach or you don’t clearly present the first level of the structure first, as menti ... (read entire answer)
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    on Jul 03, 2020
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    Recent Casesbooks

    100cases approaching a case Bain & Company BCG Bain McKinsey MBB
    Most recent answer on Jul 01, 2020
    <p>Hi Preploung Community,</p> <p>I would really appreciate if someone can share the more recent business school casebook (after 2015). I dont mind whichever school it is. I have more than 200 books but mostly its before 2015. If you are interested, we can exchange materials. Leave your comment here and I will pm you. Thanks</p>
    Hello! Some toughts: Don´t go crazy for: Many different casebooks: it´s not needed, they are all pretty similar. Very recent cases: with the exception of digitalization, most casebooks have very repetit ... (read entire answer)
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    on Jul 01, 2020
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    How to Announce Case Approach in Interviewer-Led Cases?

    Addressing interviewer approaching a case Interviewer-led
    Most recent answer on Jun 17, 2020
    <p>In prep videos I've encountered, it's recommended that in the opening of your case, you announce the overall high-level structure of how you want to approach the problem.</p> <p>ex. </p> <ul> <li>In order to [Answer Question], we have to locate the root cause of [Client's Problem]. In order to do this, I'd like to split my approach into 3 steps.</li> <li>First, I will break down this problem into smaller pieces and explore some potential issues and hypotheses related to these areas</li> <li>Next, I'll analyze available information and data about these areas until I arrive at the key driver of why [Client's Problem].</li> <li>And finally, I will use what I've learned to form actionable solutions to [Answer Question]</li> <li>"Does this sound like a reasonable approach to you?"</li> </ul> <p>However, in interviewer-led cases, I'm not sure if I should do this since the interviewer will ask me a specific question (often what my first step would be but not always). Should I announce my whole structure and then align with my interviewer, only announce the first step and align, or not announce anything?</p> <p>Also, I've heard that sometimes firms known for one type of led case will ask the other. How will I know when this occurs?</p>
    Hi, The approach that you suggest is correct from high level view, but lacks clarity and focus. You would need to pay more attention to the first step describing the areas that you would like to investigate. Basical ... (read entire answer)
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    on Jun 17, 2020
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    Revenue growth for a retailer

    2nd Round approaching a case Bain BCG Mck
    Most recent answer on May 06, 2020
    <p>Hello,</p> <p>I recently had an interview with a partner of a top-tier firm that asked for hypothesis-driven and creative solutions. I'd like to have your ideas on this. </p> <p>The situation was that a fast-fashion retailer had smaller revenues and market share than their biggest competitor although they both had same price, same products and same distribution channels (physical shops).</p> <p>How would you approach this? </p> <p>I was asked to go straight to the point and suggest the most probable root causes of this problem. Since I felt I could not talk about price, product or distribution channels, I identified 1) Less efficient marketing compared to competitors 2) Different product mix. </p> <p>Looking forward to reading your thoughts on this,</p> <p>Alex</p>
    In this scenario, there are 2 companies that sell same products at the same avg price using the same distribution channels, however one has a higher market share than the other. Below is one way to structure this issue ... (read entire answer)
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    on May 06, 2020
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    Is there an easy way yo think about hypothesis:issue tree:proving&disproving ...

    approaching a case
    Most recent answer on Nov 08, 2019
    <p>I've read the Mckinsey mind book which talks about forming a hypothesis and using the issue tree to approve and disprove a hypothesis and the article here talks a lot on it. </p> <p>However, it gets a bit complex to digest sometimes. Can you simply put the concept of an issue tree into perspective? Thanks</p>
    Hi anon, It does seem a bit tricky before you get the hang of it, but don't worry - it's best understood in practice, but think of it as breaking down a tough problem into all it's component pieces, in order to next e ... (read entire answer)
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    on Nov 08, 2019
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