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Ace th e Case

Ace th e Case. APDCC Case Interview Workshop Andy Luo. Agenda. What is a case? ~ 10 min Management consulting recruiting process Case interview introduction How to crack the case interview? ~ 30 min Why cases? Skillsets for case interviews Resources and tips Live demo ~ 15 min.

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Ace th e Case

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  1. Ace the Case APDCC Case Interview Workshop Andy Luo

  2. Agenda • What is a case? ~ 10 min • Management consulting recruiting process • Case interview introduction • How to crack the case interview? ~ 30 min • Why cases? • Skillsets for case interviews • Resources and tips • Live demo ~ 15 min

  3. Case interview is a critical part of management consulting recruiting Typical McKinsey recruiting process • Resume screening • Problem solving test (PST) • Written format • 2nd round interview • Two interviews with associates/managers • 30 min behavior + 30 min case • Final round interview • Three interviews with partners • 30 min behavior + 30 min case

  4. Case interviews evaluate your ability to solve real-life business problems in a team environment • You are given • A particular business problem • You will have • 30 min • Pen and paper • The interviewer’s help (data, clarification, guidance) • You are expected to • Solve the problem in a logical manner • Communicate your reasoning effectively • Give a “sound” recommendation • Make the interviewer like you!

  5. The cases are highly ambiguous with no absolute “right or wrong” answers • Questions I’ve been asked • A global mining firm accidentally discovered an enzyme that could make medicines 100 times more purer than the present version. What to do with it? • A 100-year family business specializing in publishing travel guides received a take-over offer of $ 10 M from a major travel agency. Should they take it? • Help Gates Foundation evaluate a collaborative opportunity with Mexico government • How to bring back the blue sky of Beijing? • What are the three major challenges confronting chemistry in the next 100 years?

  6. Case interviews tell the interviewers whether you will be a qualified future team member/colleague • Tangible qualities • Consistent habit of logical thinking • Results-driven • Number crunching skills • Business acumen and creativity • Intangible qualities • Effective communication • Maturity and confidence • An interesting human being – the airport test

  7. Always being structured and logical is the most important quality of a management consultant • Frameworks - MECE • Profit of a DVD-renting business declined 30% in the past three month Profit = Revenue – Cost = price x quantity – (fixed cost + variable cost) • How to improve the number of organs donated in Minnesota? # Organs = #population x % mortality x % awareness x % signing x # organ/donor • How to increase US Bank’s revenue in the student segment? Revenue = #students x % awareness x % conversion x # accounts x spending/account • Casebook frameworks • Hypothesis-driven • Prioritize! • Take good notes • How to practice

  8. “Open math” evaluates your skills with numbers facing high-level executives in a business environment • Never confuse your client (interviewer) • Communicate proactively • State your plan BEFORE you do the math • Verify your results • Avoid obsession with absolute “accuracy” • You only have ONE chance to be wrong • Go beyond numbers – so what? • How to practice

  9. The ultimate goal of consulting is NOT to deliver the results, but to convince your client • Learn to articulate your reasoning in a structured and concise manner • The Pyramid Principle • Result/conclusion first • Label your reasons • Always remember to close the sales • How to practice

  10. Tips for APDs • Improve your business acumen • Plan early, but DO NOT over-practice • Be likable • Bring the whole package • The REALLY difficult part is getting the interview!

  11. Useful Resources • Books • The Pyramid Principle • The McKinsey Way / Mind • Case in Point (or many similar) • Casebooks (by many B-schools) • Websites/Blogs/Videos • Victor Cheng’s www.caseinterview.com

  12. Questions?

  13. Live Demo Apple’s introduction of iWatch

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