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Master Case Interview Frameworks: Essential Skills for Future Consultants

Join us for an engaging session presented by The Management Consulting Association, focusing on "Introduction to Case Interview Frameworks" on Tuesday from 12-1 PM at D301. Gain insights on what case interviewers seek, including analytical ability, poise, creativity, and communication skills. Learn how to effectively use structured frameworks to dissect case problems and improve your performance in interviews. Ensure you can articulate your thought process and successfully navigate complex business scenarios. Practice makes progress—let's enhance your consulting prowess together!

michelle-briggs
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Master Case Interview Frameworks: Essential Skills for Future Consultants

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  1. The Management Consulting Association presents... Intro to Case Interview Frameworks Today!! Tuesday D301 from 12-1pm

  2. The Management Consulting Association Intro to Case Interview Frameworks

  3. What Case Interviewers are looking for • Analytical ability • Poise • Creativity • Communication skills • Logical thought process • Business acumen • NOT NECESSARILY LOOKING FOR A SOLUTION

  4. What are frameworks? • A structured approach to break down a case problem • A way to think about the facets of a business decision • A tool to develop case interview proficiency

  5. How to use frameworks? • During your early practice interviews, use frameworks to develop the discipline for structuring a interview answer • Later, depart from the frameworks (avoid mentioning them) to develop a comfort level with structuring a framework on the fly • Bottom line: You need to practice to do this right

  6. How not to use frameworks? • Saying, “Well, I’ll use the Porter’s 5 forces to break this down...” • Worrying about finding the right framework for the case - in every case, several would work fine • Becoming panicked if you can’t remember a framework - remember, structure is the most important thing!

  7. Structure Your Response - The golden rule • Listen to question and ask any clarifying questions. Take notes. • Tell interviewer the areas you plan to investigate in 2-3 sentences • Proceed down line of inquiry in first area you think shows the most promise - “First, I would like to get a better understand of their customer base..” • Proceed to next area if deterred in questioning and/or you’ve exhausted a subject. Telegraph your moves - “Next, I would like to assess their competitive environment…” • Pull finding together at end of interview and state recommendations (“Initial findings suggest… ; I recommend we do the following….”)

  8. Pizarro Case Question Example • Question: How did the Spanish Conquistador Pizarro, with only 180 men, manage to defeat the Incan Empire which numbered in the thousands… • Framework: “Like business, success in a military campaign is dependent on many factors including training, resources, and leadership. I would want to explore the following.. • Compare the Pizarro’s leadership with the of the Incan ruler • Analyze the training of Pizzaro’s forces • Determine if Pizarro’s forces had any technological advantage over the Incas • Let’s start with Leadership. “Who was the Inca ruler and how would you characterize his leadership...”

  9. Popular Frameworks • 4 P’s of Marketing • Porter’s 5 Forces • Internal and External Factors • 3 C’s - Company, Competition, Customer • Revenues vs Costs

  10. Revenues vs. Costs Useful for determining why a company is losing profitability • Revenues • have they changed, how? • Pricing pressure?, recession?, competition? • Costs • Fixed Costs - new investments, low capacity? • Variable Costs - raw materials costs (supplier power), labor costs

  11. 4 P’s of Marketing Useful for determining in company should enter a new market or product category. Also, may help identify cause of sales slowdown • Product • Price • Promotion • Placement

  12. Porter’s 5 Forces Useful for determining whether a company will be competitive and profitable in the long run • Supplier Power • Buyer Power • Entry Barriers • Internal Rivalry • Substitutes

  13. Internal Vs External Useful for nearly all business problems • External Factors • Market - trends, segments, substitutes • Customers - demand, price sensitivity, loyalty • Competitors - how many, share, strengths • Internal Factors • Operations - how cost competitive and inefficient • Finance - are resources sufficient, profitability • Product - competitive advantage, differentiated

  14. The 3 C’s Useful for nearly all business problems • Company - marketing, operations, strategy • Competition - industry structure (Porter’s 5), competitor positioning (low cost, high quality) • Customer - segments, size, growth, price elasticity

  15. Closing • Learn the frameworks so they become second nature • Practice and more practice to become comfortable with the facets of a business problem • Develop capacity to structure problem in an appropriate manner to reach a solution

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