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Tag: "growth strategy"
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growth strategy

    How to structure growth strategy cases?

    growth strategy MBB
    Question edited on Jul 20, 2021
    <p>What is the best framework to use to structure ambiguos growth strategy cases - e.g. client wants to double revenue in 5 years</p> <p>Would the following structure be ok:</p> <p>1. Shortlist ideas e.g. optimise current revenue streams, launch new revenue streamts</p> <p>2. Evaluate revenue impact of ideas</p> <p>3. Prioritse</p> <p>Thank you</p>
    Hi there, This is completely wrong - please never setup a framework like this. Sorry to be so direct, but this is literally the essence of every single project/problem/case. Of course we have to identify ideas, figu ... (read entire answer)
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    on Jul 20, 2021
    Last Activity

    How to identify which market to grow?

    growth growth strategy
    Most recent answer on Jul 19, 2021
    <p>There are some criteria I have in mind - </p> <p>1. the larger the market size</p> <p>2. the faster the growth rate</p> <p>3. the more fragmented the market is</p> <p>And how does it relates the </p> <p>1. growth rate of the company</p> <p>2. the market share of the company</p> <p>i.e. If the market grows at 3%, while the client company grows at 5%, what does it indicate? it indicates growing in this market is not enough, and we should into growing in other faster-growing market?</p> <p>i.e. which situation does the company has more potential to grow in? a 2% market share or 20% of market share? </p> <p>Thanks.  </p>
    Hi there, #1 and #2 are correct, but #3 is wrong. Remember, a fragmented market is neither inherently good nor bad (just look at the consolidated Taxi, news, and automotive markets that have been disrupted)...a consol ... (read entire answer)
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    on Jul 19, 2021
    Last Activity

    GenCo - BCG Case [from their official website]

    BCG BCG Case Interview bcg consulting Case structure and frameworks growth strategy MBB revenues Structure
    Most recent answer on Jul 17, 2021
    <p>Hello </p> <p>There is this case on the BCG website called Driving Revenue Growth. the promt says: </p> <p><em>our client is GenCo, a large, international, diversified company with a health care division that produces a wide variety of medical instruments and related services. The parent company GenCo produces medical devices and services, but before the acquisition was not involved in health care software. The company it purchased, MedCount, sells only administrative systems software to large hospitals. It is now looking for opportunities to increase revenues</em>.</p> <p>Under <u><strong>Set up the Framework for the Cas</strong></u>e they have the following which I tend to believe is generic and a force fitted framework: </p> <ul> <li>First, I'd want to understand the market size and growth rates for MedCount's market and related software markets.</li> <li>Next, I would like to explore the competition and their market shares.</li> <li>Third, I would like to examine customer requirements and then, given those external conditions, look at the division's capabilities to understand how well prepared it is to meet the needs of the marketplace.</li> </ul> <p><u><strong>Note:</strong></u> from the solution, it seems the opportunities for revenue increase are meant for MedCount division not GenCo &amp; MedCount focusing on medical softwares which could be verified via clarifying questions during an actual interview. </p> <p>Also, the available data and the solution seems to relate to each of the buckets listed in the framework starting with competition and shares, consumer preferences to company's capabilities</p> <p>What is a better framework for this problem?</p>
    Hi there, You are correct - this framework is terribly generic! As a general rule: don't trust the frameworks given in cases. They tend to be oversimplified AND there is rarely one single good framework for a case...s ... (read entire answer)
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    on Jul 17, 2021
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    Best MBB for corporate strategy practice

    Bain BCG Corporate Strategy corporatestrategy growth strategy MBB MBB - new hire MBB Consulting MBB firm McKinsey
    Most recent answer on Apr 21, 2021
    <p>I want to work in MBB but I have read that some MBBs are better for some functions and others for others. Can you tell me which practices/functions each one excels at?</p>
    Hi there, There are strong differences even within the same company for different offices. In Italy for example some core sectors are: McKinsey: Financial institutions BCG: Industrial goods Bain: PE, Luxury ... (read entire answer)
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    on Apr 21, 2021
    Last Activity

    MECE framework to grow in sales

    growth growth analysis growth matrix growth strategy
    Most recent answer on Apr 10, 2021
    <p>Hi. I have worked several case interviews about growth, with different approaches to answer.</p> <p>For example, I can use this framework:</p> <p>-Existing customers: sell same products, sell new products (cross-selling)</p> <p>-New customers</p> <p>-New geographies</p> <p>-M&amp;A</p> <p>But this is a so simple. Could I build a more robust framework?</p> <p>Thanks!</p>
    Hi there, I'm going to take a step back and answer the question you're really asking: How do I use frameworks in a case? If there's anything to remember in this process, is that cases don't exist just because. Th ... (read entire answer)
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    on Apr 10, 2021
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    What framework or approach to use for an IT services company strategy?

    business model growth strategy IT Strategy Market analysis
    Most recent answer on Apr 10, 2021
    <p>Hi. Let's suppose you are in Spain, and you are an IT services consultancy that offers services related to digital transformation, Java/Python/PHP/etc application development, web development, ecommerce, DevOps, implementation of tools, big data, artificial intelligence .... etc. The characteristics of the market are as follows:</p> <p><strong>Buyers</strong></p> <ul> <li>Potential buyers are companies, as the IT services firm is aimed at the business-to-business customer.</li> <li>The characteristics of the buyer market is that in Spain there are many companies, it is a country dominated by SMEs, whose purchasing power in IT is small, except for large companies. </li> <li>The ratio of IT budget to total revenue of large companies is between 2% and 10%, depending on the sector.</li> <li>The market is growing in adoption. For example, sectors that had an IT budget of 4% have a 4.5% IT budget the following year, and it continues to grow.</li> <li>The volume of potential large enterprise buyers is not growing every year, it is simply growing in the economy as a whole at the rate of GDP.</li> </ul> <p><strong>Competitors</strong></p> <ul> <li>The industry has a potential market of 30.000 millions euros in the whole of Spain. The market share of the company to be analysed is small, only 100 million€ per year. </li> <li>There are many competing companies, the market is highly fragmented. The first 20 companies have a turnover of 6000 million euros.</li> <li>The portfolio of services is very broad, it is not a niche company, its focus is to cover a wide range of services.</li> </ul> <p><strong>The company's objective is to grow in turnover.</strong> </p> <p>In order to clarify the objectives, the questions to response with that framework are:</p> <ul> <li>What framework or strategic approach can I use to guide a possible strategy for the company?</li> <li>What drivers should I use to define the strategy?</li> <li>What is in the best interest of a company of this size, a narrow and focused portfolio of services or a broader portfolio?</li> <li>Is it interesting to establish offices outside Spain?</li> <li>As it is a very dynamic market with many new companies being created every year, how to analyse the risks in the competitive environment?</li> <li>What is the most suitable business model for growth?</li> </ul> <p>I propose the following response to this hypothetical case. </p> <p><strong>Key points</strong></p> <ul> <li>Given that the IT services market is <em><strong>highly fragmented</strong></em> and has no characteristics that can be associated with a mature market (it has high growth, low or no entry barriers, huge fragmentation...), the competitive dynamics are very large. This means that companies will continuously be created that will take a piece of the market share, and with which we can compete for the same project in a potential customer.</li> <li>The <em><strong>main customers are large companies</strong></em>, which usually <strong><em>have significant entry barriers to working with new suppliers</em></strong>. This is because there is a knowledge that regular suppliers have of the customer's IT systems, and of the internal organisation of the company, which gives them an advantage over other new competitors. Therefore, for a company with an annual turnover of €100M in such a fragmented market, the main strategy would be to grow within the customers in which it is already positioned, prioritising this strategy over the alternative of looking for new customers. This does not mean that new customers should not be sought, but rather that <strong><em>the investment of time and the objectives of the sales team should be oriented towards prioritising the growth of existing customers</em></strong>. </li> <li>The competitive dynamics and the fragmentation of the market in terms of competitors paint a long tail picture, where there are many competitors with the capacity to absorb a small piece of the market. Such small competitors will maximise their probability of growth only if they focus on specific services, i.e. if they specialise. Small competitors with a very broad portfolio of services will not grow as fast because they will not have a large track record, as the lack of focus will give them less traction, and their credibility with large buyers will be very small, which will give our company an advantage over them. Therefore, the bulk of the competitors that can really be a problem are companies of a similar size to ours, which are in a similar annual turnover bracket to ours. These companies will have a broader portfolio of services than we do. Therefore <strong><em>the strategy of maintaining a broad portfolio of services has a higher probability of success for our company</em></strong>.</li> <li>As the IT market is a knowledge-based market, and the demand for services is growing faster than the number of people with the knowledge to carry out the projects, the company should have four key personnel policies. On the one hand, <strong><em>internal training</em></strong>, to fill the GAP between what it can hire and what the market demands. Secondly, <strong><em>a talent loyalty policy</em></strong>, which is based on employee care, a career plan and a strong brand that makes them see the company as an important asset in their professional career. Thirdly, a <strong><em>competitive salary</em></strong>, so that the incentive to change company is less than the incentive to stay with the current one. These three policies require a significant investment both in an internal area that manages all three and in salaries that are competitive with the competition. The fourth policy is <em><strong>knowledge management</strong></em>, which is achieved by establishing internal dynamics that allow lessons learned in one service to be used to advantage in the next.</li> </ul> <p><strong>Key drivers</strong></p> <ol> <li><strong>Branding</strong>: brand strength and reputation are key factors that facilitate commercial activity and differentiate the company in a competitive market. Investment in marketing is something that the company must do to stand out from its competitors (organising events, webinars, content marketing, etc). This will allow the company to be seen in the market as a reference in knowledge. As an objective, it would seek to achieve two things: attract talent, by being an attractive company to work for, and position itself at the top of mind of potential clients. In turn, this allows it to enter new clients, and helps to build loyalty among current ones, allowing it to charge higher rates for its projects as it perceives a higher value in the market compared to its competitors.</li> <li><strong>Productivity</strong>: being a business whose main cost is wages, an important part of the profits are obtained from the company's ability to ensure that its workforce is producing at high productivity rates, eliminating dead gaps between projects. This implies an important focus on productivity KPIs. </li> <li><strong>Attrition</strong>: given that the main asset is people, it is important to monitor attrition as it is extremely difficult to attract talent, candidates have many alternatives to work with, and therefore personnel policies must pay attention to the factors that determine the growth of turnover, establishing effective action plans to mitigate them.</li> </ol> <p><strong>Summary of the strategy:</strong></p> <ol> <li>Focus on large customers, prioritising growth within the customer rather than new customers.</li> <li>Watch competitors of similar size with a broad portfolio of services, and smaller competitors that are specialists in services that the company has in its portfolio, have a track record and good growth.</li> <li>Maintain a broad and diverse portfolio of services, to offer customers a range of services that allows for internal growth through cross-selling.</li> <li>The company can try to open offices outside Spain, but without great urgency as the Spanish IT market is still large and growing. </li> <li>The M&amp;A strategy would be reserved for acquiring smaller companies that are specialists in a particular service and that complement the service portfolio in those services for which there is not a high return internally. In other words, to reinforce low-profitability services through the acquisition of niche companies.</li> <li>Monitoring of brand, productivity and turnover as key mechanisms to maintain profitability. </li> </ol>
    Hi Roberto, I replied to your other detailed Q&A (https://www.preplounge.com/en/consulting-forum/drivers-and-future-demand-for-tm-service-models-in-it-services-market-9888). Not sure what are you trying get out ... (read entire answer)
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    on Apr 10, 2021
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    Outside of MBB, which are the top life science consultancies for strategy?

    growth strategy life sciences MBB
    Most recent answer on Apr 06, 2021
    Hi there, Some companies for which I personally helped candidates to get offers are: ZS IQVIA LEK Best, Francesco
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    on Apr 06, 2021
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    Capturing Market Share with Price Wars

    growth strategy
    Most recent answer on Feb 28, 2021
    <p>Does capturing market share from competitors by lowering prices (i.e. price wars) ever work? Will it ever lead to anything more than bleeding profitability our of the market? What industries will this work best for? Experienced consultants, please share your thoughts and real life examples. Thanks.</p>
    Hi there, Be careful with wording here. Price wars involve lowering prices, but lowering prices don't necessarily involve price wars. I can lower my price without my competitor following suit. As such, if you're l ... (read entire answer)
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    on Feb 28, 2021
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    Prioritise increasing revenues or decreasing costs in a profit increase case?

    Cost reduction growth strategy improving profitability profitability
    Most recent answer on Feb 28, 2021
    <p>Hi, <br> <br> I have a question regarding cases where the client wants to increase profitability but is not suffering from any problems causing recent profitability declines. Since there is no problem for us to fix, should we prioritise revenues or costs?<br> <br> Thank you very much! </p>
    Hi there, You need to understand the industry + company context from the prompt itself to figure this out...cases and case types cannot be memorized...you have to adjust every single time! Take my "Chinese Airline D ... (read entire answer)
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    on Feb 28, 2021
    Last Activity

    How to structure a brainstorm on ways a telecom company can grow through cross-selling?

    BCG brainstorming growth growth strategy McKinsey Telecoms
    Most recent answer on Feb 21, 2021
    <p>Hello. Any ideas on how one should structure this? The case is a telecom company in Europe wanting to cross-sell things to it's customers, other than typical telecom products. Could be things like insurance, electronics, lound speakers, etc. Any other product ideas as well?</p> <p>Thanks!</p>
    Hi, You are on the right track. I would look at the following buckets, there are many ideas to choose from Ancilliary services Insurance Additional lines International calling Retail services Phones ... (read entire answer)
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    on Feb 21, 2021
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    Private Equity: Value Creation Interview - what to expect and how to structure answers

    growth strategy Private Equity Value Creation
    Most recent answer on Dec 30, 2020
    <p>Hi, some really helpful content on this platform. I have an upcoming 2nd round interview with a mid-market PE firm, within their value strategy group (primarily focussed on the holding period and exit strategies), having had my fit interview. There is a combination of strategy consultants (I fit into this bucket) and those with a financial services background in this team. </p> <p>My preparation has been focussed around the three drivers of value creation </p> <p>(1) Operational improvements </p> <p>(2) Multiple Expansion </p> <p>(3) Changes in net debt. </p> <p>I have also looked over financial accounting terms to help around these areas, and the areas of investment in the current portfolio. </p> <p>I am unsure whether to expect a LBO modelling in this round. I have a few weeks to prepare and wanted to know if there was any advice on what I can expect in this 2nd round interview and the best way to prepare. Should I treat it as similar to typical strategy case interviews? I am struggling to come up with a structure to answer questions, as I'm unsure what to expect. </p>
    Hey, Just wanted to make sure that you are covering all aspects. I pick up 3 distinct subjects from your question: Valuation Value creation LBO As you know, these are different topics (obvs all under the sa ... (read entire answer)
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    on Dec 30, 2020
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    Is this a more of a corporate strategy, strategic planning or consulting role?

    consulting job Corporate Strategy growth strategy strategic plan
    Most recent answer on Dec 11, 2020
    <p>So I am currently on week 2 of my new job (I'm a grad from top school with 1-2 years of post-graduate working experience). The job title is CEO Office Analyst. The company is an uprising unicorn startup company with 2500-3000 employees. So, far I'm just wondering what my role is considered as if it is corporate strategy, strategic planning or (internal) consulting, since I heard some distinctions about these three.</p> <p>So, the CEO Office team is led by an ex-MBB. I also work with the department heads in divisions that I'm assigned to, even though not often. They are also mostly ex-MBB. Basically what I've done so far is creating slides and monitoring OKRs, I'm also involved in some analysis, also trying to challenge the business plan of the respective department I'm assigned to. </p>
    Hi Anonymous, For the same actual role many job titles are used across different companies - so don't worry too much about the specific role title as long as it's not completely misleading. It's more important what ... (read entire answer)
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    on Dec 11, 2020
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    Top-strategy boutique to MBB or Exit ?

    boutique growth strategy MBB
    Most recent answer on Sep 01, 2020
    <p>Hello,</p> <p>I am reaching a certain tenure at a top-strategy boutique in Europe. I was lucky enough to do all sort of projects (strategy, ops, implementation, etc.) yet "pure strategy works" (growth &amp; due diligence) are 90% of my expertise. I am considering an exit move in the upcoming months. I am tempted to join a MBB, but afraid I would be disapointed in the type of strategy work they do. Would anyone, who went from a top strategy boutique (such as CVA, Estin, Mars&amp;CO, etc.) to MBB, could help me see clearer what type of strategy work is available at Mck/BCG? I would like to be sure I can progress / learn within their strategy practice.</p> <p>Thank you everyone for a great website/Q&amp;A section!</p>
    Hello! I honestly don´t think you would be disappointed since: Scopes will be bigger Impact also will be higher The tenure of people with whom you will be working in the client side will be C levels Hence, ... (read entire answer)
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    on Sep 01, 2020
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    Growth/Profitability cases root cause or not?

    Declining Profitability Case growth strategy profitability Revenue analysis Structure
    Most recent answer on Aug 18, 2020
    <p>Hello,</p> <p>Thje prompt in some cases tells you that profits/revenue have been declining or that CEO is not happy with revenue or performance and you are staffed to turnaround the situation (either improve profitability or grow revenue). In cases like that when you are not explicitly asked for root cause, are you supposed to look at root cause or dive directly into driving growth by improving revenue/cutting cost?</p>
    Hi, You are supposed to look at the root cause, so that you can devise appropriate actions to turn the situation around. Thus, in your structure, you can have a three-step approach: Context: understand the client ... (read entire answer)
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    on Aug 18, 2020
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    What's the best way to structure a revenue growth case?

    Case case study Framework growth growth strategy issue tree Revenue analysis revenues Structure
    Most recent answer on Aug 05, 2020
    <p>I'm tempted to start with p * q, but it sometimes feels unnatural to shoehorn the necessary questions (distribution channels, marketing, customer, market characteristics, competition, product, company,etc. depending on the case) under either "price" or "quantity". At the same time, it feels odd to ignore the p * q structure altogether. How should I approach this?</p>
    Hi! It depends very much on the industry. In some cases (Growth strategy) I will use a broad structure, in others (e.g. “how to increase the excessive luggage revenues for an Airline”) I will use P, Q and the Process. ... (read entire answer)
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    on Aug 05, 2020
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    How can a fintech app go international?

    Corporate Strategy gotomarket growth strategy launch market entry
    Most recent answer on Jul 17, 2020
    <p>Coinbase is thinking about expanding internationally, think about the trade-offs this sort of decision would present?</p> <p>How would you structure the approach and position it to leadership?</p>
    Hi PK, Very interesting question. Somewhat classic market entry :) Clarifying questions Where internationally? What is coinbase's objective here? How would they grow (organic or acquire)? Benefits Econom ... (read entire answer)
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    on Jul 17, 2020
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    Standard declining market share case - alternative approaches?

    declining market share growth strategy HBR
    Most recent answer on Jul 07, 2020
    Anonymous A asked on Jun 15, 2019
    <p>Company A is losing market share over 5 years. In this market there are several key players with large market shares, including A. Company A must be assumed to be operating normally over the past 5 years.</p> <p>Brief is to design an engagement on what your firm would do to address this decline. This sounds like a typical "growth strategy" is desired.</p> <p>Without going into the myriad of different approaches already discussed (Price, Place, Product, Promotion), 3Cs etc: Off the bat I am thinking the easy stuff is - seeing as this should be a concise pitch:</p> <ul> <li>Identify the reason why company A is losing market share</li> <li>Find ways to regain and grow market share</li> <li>Build an engagement that will captivate the client</li> </ul> <p>Seeing as Company A already has data on its market share from a data provider I am not going to suggest an in-depth market analysis before going into the competitor and company part. Or should I? If we have the data and the client is willing to share I'd imagine we would want to first validate the data and the results. Anything else seems redudant and unimaginative? This is problem solving not market research.</p> <p>Here are some other questions:</p> <ol> <li>Where would I pose the question to the client whether they have the cash or appetite for an acquisition?</li> <li>What are the current trends in market growth strategies?</li> </ol> <ul> <li>New (processes, experiences, features, customers, offerings, models) - this was a case example of from Apple used in HBR (https://hbr.org/2018/06/the-6-ways-to-grow-a-company)</li> </ul> <p>Any suggestions would be helpful. I have a wide berth in this case so creativity is key!</p>
    Company A is losing market share over 5 years. In this market there are several key players with large market shares, including A. Company A must be assumed to be operating normally over the past 5 years. Brief is to ... (read entire question)
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    on Jul 07, 2020
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    from strat to PE

    growth strategy Private Equity
    Most recent answer on Jun 04, 2020
    <p>Hello, I was recently contacted by a tech giant to join their PE fund. I was a bit surprized at first because I was not looking into this direction and I do not have a background in M&amp;A at all. They liked my experience in a company with high expertise dealing with strategic DD and an industry where I am very knowledgeable. The position sounds very tempting but I am afraid I may not be the right fit due to my lack of knowledge on valuation and such.</p> <p>Anyone here that switched from consulting to PE? if so, did you feel you had the right capabilities and knowledge dealing with the pure financial work? I would appreciate any feedback from people who took this career change.</p> <p>Thanks a lot</p>
    Hi there, Many consultants leave for PE - If you are good at DDs, it should be fine. (at the end of the day, PEs are in the business of valuations and deals - so you already have 50% of the business requirements) - th ... (read entire answer)
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    on Jun 04, 2020
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    Market entry and Growth case studies

    growth strategy MBB New Market Entry
    Most recent answer on May 26, 2020
    <p>I have been preparing for a few upcoming interviews, and have faced the following two recurring questions frequently during my case prep process. Usually, there is further information which helps me substantiate my choice, but a lot of times the questions below are posed as it is (was asked to me by an MBB interviewer) and I feel like I could have answered it better:</p> <p>1. If it is a growth case and I am to choose between 2 regions for expansion, one that has a small footprint for the client but high expected market growth rate, and one that has a large existing footprint but low expected growth rate, which is a better market to focus on? (if the answer is 'it depends', what factors does it depend on? Let's take the example of a prototype industry like Healthcare)</p> <p>2. In a market entry case, if I have to choose between 2 countries to expand into, one of which has a concentrated market with two market leaders and the other which has a fragmented market with multiple smaller companies, which country should I choose? (Again, if the answer is 'it depends', what factors does it depend on? Taking the example of the Healthcare industry for ease of comparison)</p> <p>Thanks for your help!</p>
    Hi! There is actually a very clear answer to your questions. The base principle that you have to understand is that all decisions depend on the underlying objective. When you stay conscious of this, the argument becom ... (read entire answer)
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    on May 26, 2020
    Last Activity

    A question on "sales"

    growth strategy profitability
    Most recent answer on May 06, 2020
    <p>When it's a case related to decline in "sales", is it assumed it's decline in "revenue"? Or should I clarify that with the interviewer if they are referring to revenue or volume?</p>
    Hi there, It is always better to clarify. Although sometimes sales and revenue is used interchangeably, you really need to understand the business model to see whether they are equal or not. For a business that is co ... (read entire answer)
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    on May 06, 2020
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