consulting club information

7/22/2019 Consulting club information

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CONSULTING CLUB


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Agenda

Structure

Structure

Structure

And More Structure


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Team

Paul Bednarczyk

Russ Needham

Nitin Malik

Chad Plumb

Nathan Windom


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A GOOD APPROACH TO CASE INTERVIEWS INVOLVES FOUR STEPS

Ensure completeunderstanding of thequestion/problem

Listen closely to problemdefinition

Ask questions to improveunderstanding

Paraphrase to confirmproblem statement

Some information may beless important

Clarify Structure

Develop a plan to solvethe problem

Describe your overall

approach

Break the problem intodiscrete pieces/issues

State crisp hypotheses

Use framework only ifappropriate

Analyze Conclude

Request information andtest hypothesis

Walk the interviewer through

your thinking

Prioritize issues

State your hypothesis

Ask for a few relevant facts

State findings for youranalysis

Refine your hypothesis

Probe further if necessary

Synthesis findings

Summarize the discussion

Develop overallrecommendations

Discuss trade-offs

Relate back to problemstatement

Suggest next steps

Source: McKinsey

Case interviewing Basic Steps


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Unstructured thoughts are difficult to communicate and remember

List of grocery items I need to buy

Apples

Milk

Bananas

Spinach

Carrots

Grapes

Butter

Okra

Eggs

Case interviewing Structure


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On the other hand structuring seemingly random thoughts help you communicate better

Dairy

Things I need tobuy for grocery

shopping

VegetablesFruits

Butter Eggs Apples Bananas Grapes Spinach Carrots OkraMilk

Case interviewing Structure


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Case interviewing - The Pyramid Structure

Governing Thought:

States the answer to

the question raised in

the readers mind

(hypothesis)

Key Line:Major points

which, taken

together prove

the answer

Support:

Data and factswhich support

the key line

The Pyramid Structure helps to effectively structure communications


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Sample problem How can we improve the rankings of Carlson School?

Case interviewing Sample Problem


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Sample Structure of a problem we all can relate to

By improving the student

quality

How can CarlsonSchool Improve its

rankings

By improving the

communication with the media

Conducting the rankings

By improving the quality ofprofessors

Improve the qualityof the intake

Improving the quality of

experience at school

Hiring betterprofs

Retain the good

profs

Proving accuratedata

Provide data

on time

How

How

Case interviewing Sample Solution


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Always Remember MECEOne phrase you cannot escape from in consulting.

Mutually

Exclusive

Do any of the points

overlap?

CollectivelyExhaustive

Have all possibilities beencovered?

MECE

Case interviewing THE MECE


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Case interviewing New Market Entry (Sample Structure)

How attractive is the industry?

Should Budweiserenter cigarette

market?

What are the risks to the

existing business?

Can Budweiser make money

in this market?

Market size Growth No. of players ProductDifferentiation

Customer

Segmentation/overlap

Sales forcestretched too thin Investmenttoo big

Key Question: Should we enter the market?


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Size of the cigarette market in US

AGE# of people

(in millions)% that smoke

# of smokers

( in millions)

# cigarettes perweek

# of cigarettesper year

( 50 weeks)

Total

(in billions)

0-20 75 0

21-40 75 40% 30 30 1500 45

41-60 75 30% 22.5 20 1000 22.5

61-80 75 20% 15 10 500 7.5

Totals 300 75

Assumptions:

1. The population of USA is 300 million

2. The life expectancy is 80 years

3. The population is evenly distributed

Case interviewing (Market Sizing)


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Case interviewing New Market Entry (Sample Structure)

Do it alone

Start from scratch

How should Cargillenter seedbusiness?

Set up a JVAcquire a company

Time consuming

&expensive

But, full control

And no baggage Risky Upfront premium andIntegration costsBut, quick Less Expensive But, less control

Key Question: How should we enter the market?


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Profits

Revenues

Costs

Price

Volume

Fixed

Variable

Etc.

EXAMPLE- STRUCTURING A PROFIT QUESTION

Case interviewing Profitability (Sample Structure)


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The beaten down structure of profitability can be use in many situations

What are the synergies?

Should TATA Steelbuy Chorus?

What are the risks of theacquisition?

Revenue CostPrior experience

Acquisition

Costs

Assumptions:

1. Goal is incremental profits This would be the case in 99% of cases

Case interviewing M&A (Sample Structure)


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How can Target store increase sales/revenues?

Case interviewing Profitability (Increase Revenues)

Increase

Sales/Customer

Increase no. ofcustomers

IncreaseSales

Increase Prices

Sell more stuff to

the customers

Sell more per visit

Increase the no. of visits

New Markets

More segments in the

existing market


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How can a manufacturing company reduce direct labor costs for widget production

Case interviewing Profitability (Decrease Costs)

Decrease

Cost/Hour

Decrease no.of hours/widget

Decreasedirect labor

costs/widget

Use cheap labor

Minimize overtime

Reduce no. of people per

machine

Increase machine efficiency


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Sample Case

A large fast food chain has hired consulting club team at carlson school to improve the companysprofitability.


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Sample Case Interviews Company Specific


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Position Business Results Consultant (Internal Consulting), Field Distribution

Interview Process

Internship (1 Round) Behavior Based

o Round 1 (On Campus) Maybe a Business Case in combination with Behavioral Interview [2 interviewers]

Full Time (3 Rounds)

o Round 1 (On Campus) Behavioral and Resume Interview [ 2 interviewers]

o Round 2 (Thrivent) Q & A, Four Rounds with a Business Case & Behavioral Interviews [several interviewers]

o Round 3 (Thrivent) Psychological Evaluation (Leadership) [1 evaluator]

Special Comments

Values and community are important

Really need to answer the question: Why Thrivent?

Sample Cases

Business Case You are a company that has an opportunity to purchase a chemical that makes cranberriesredder and sweeter. Do you purchase it? Other cases have been very open-ended similar to this question.


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Company: McKinsey & Co.

Position: Associate

Interview Process

Full Time ( 2 Rounds)

o Round 1 (On Campus) 2 Case Studies & 2 Behavioral Interviews [ 2 interviewers]

o Round 2 (Mckinsey Office)3 Case Studies & 4 Behavioral Interviews [4 interviewers]

Special Comments Prepare for the case interviews Practice, practice, practice!!!

o Focus on quality of cases rather than quantity

o Practicing cases with the same person is not a good preparation

Dont just dedicate all your effort preparing for the case interview. You also need to spend time preparing for thebehavioral interviews

Sample Cases

Business Case

Sample cases can be found at www.mckinsey.com/careers
http://images.google.com/imgres?imgurl=http://www.safetyforces.com/images/3M-logo-large.gif&imgrefurl=http://www.angelfire.com/fl5/verhoef/te_werk.htm&h=157&w=235&sz=4&tbnid=OjhqGMl-8nJoLM:&tbnh=73&tbnw=109&prev=/images%3Fq%3D3m%2Blogo&start=3&sa=X&oi=images&ct=image&cd=3


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Position Internal Consulting, Strategic Business Development

Interview Process

Internship ( 2 Rounds) Behavioral / Case Based

o Round 1 (On-Campus) Behavioral and Business Case (2) Interview [1 interviewer]

o Round 2 (On-Campus) Behavioral and Fit Interview [2 interviewers]


o Round 1 (On-Campus) Behavioral and Business Case Interview [1 interviewer]

o Round 2 (3M Campus)Blitz Day Behavioral, Presentation, and Business Case Interview [3 interviewers]

Special Comments

Business cases primarily focus on new market analysis, new product development, segmentation,entitlement, sustainability

Justify why 3M SBD vs. External consulting

Sample Cases

Business Case

3M develops a film that enhances the visibility of stop signs on major highways. Estimatethe total market potential, identify the competitive landscape, and select key segments.

Business Case 3M wants to enter a very competitive segment within the pet food industry in which thecompany has no experience. What challenges exist for 3M, how should they enter this market, and will it besustainable in the long-term?
http://images.google.com/imgres?imgurl=http://www.safetyforces.com/images/3M-logo-large.gif&imgrefurl=http://www.angelfire.com/fl5/verhoef/te_werk.htm&h=157&w=235&sz=4&tbnid=OjhqGMl-8nJoLM:&tbnh=73&tbnw=109&prev=/images%3Fq%3D3m%2Blogo&start=3&sa=X&oi=images&ct=image&cd=3


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Position Internal Consulting, Global Strategy

Interview Process


o Round 1 (On-Campus) Behavioral Interview [1 interviewer]

o Round 2 (Thomson Campus) Behavioral (2) and Short Business Case (3) [1 interviewer]


o Round 1 (On-Campus) Behavioral and Business Case (2) Interview [ 2 interviewers]

o Round 2 (Thomson Campus) Behavioral and Short Business Case (2) [5 interviewers]

Special Comments

Need to convince them that you would be capable of presenting in front of executives, some quantitative analysiswork experience, a little understanding of law field, sense of humor (need to show some personality and showthat you are good fit with group)

Sample Cases

Business CaseHow would you segment the law market?

Business Case Where would you locate a gas station?

Business Case How would you launch a new line of Thomson legal services?
http://www.thomson.com/http://www.cargill.com/


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Position Internal Consulting, Strategy and Business Development Interview Process

Internship ( 2 Rounds) Case Based

o Round 1 (On Campus) Ethics Case, Business Case in combination with Behavioral Interview [2 interviewers]

o Round 2 (On Campus) Business Case in combination with Behavioral Interview [1 interviewer]


o Round 1 (On Campus) Ethics Case, Business Case & Behavioral Interview [ 2 interviewers]

o Round 2 (On Campus) Business Case & Behavioral Interview [1 interviewer]o Round 3 (Cargill Campus) Fit Interviews with senior leaders [3-5 interviewers]

Special Comments

Ethics is a big focus area for Cargill and one needs to ace the ethics case

Justify why Cargill SBD vs External consulting

Sample Cases

Ethics Case

A competitor is building a new plant and your boss is pressurizing you to trespass theconstruction area and gather competitive information. What would you do?

Business Case McDonalds is asking Cargill to buy a poultry farm in Russia? Cargill has identified a Russiancompany with good finances? Should Cargill acquire the Russian firm?
http://www.cargill.com/


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Position External Consulting, Strategy & Operations

Interview Process


o Round 1 (On-Campus) Behavioral Interview [1 interviewer], Fit Interview [2 interviewers], Business Case [1 interviewer]

o Round 2 (On-Campus) Behavioral & Fit [1 interviewer]


o Round 1 (On-Campus) Behavioral Interview [1 interviewer], Fit Interview [2 interviewers], Business Case [1 interviewer]

o Round 2 (On Campus) Behavioral and Fit (2) [1 interviewer]

Special Comments

Need to convince them that you are a good fit for their culture and that you can handle the lifestyle.

Need to convince them that if you found yourself in an elevator with the client CEO you could present yourselfand Deloitte in a professional manner.

Sample Cases

Business Case

How would you restore a foundering hospital to profitability?

Business Case How would you control costs at a call center?

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