Case Interviews

Why the Case Approach? Analytical: Gauge problem solving ability Does the candidate think in a clear and logical way? Is the candidate effective at identifying key issues? Is the candidate comfortable with decision making under uncertainty? Can the candidate think on his/her feet? Is the candidate creative? Interpersonal: Gauge client relationship skills Does the candidate listen well? Can the candidate communicate clearly? Does the candidate have a compelling personality? Does the candidate show self-confidence? Introduce ourselves

Business Cases Types of Cases Guesstimates Brain Teasers “Your client is a mid-sized hotel chain. How would you develop a pricing strategy for the client?” Business Cases “How many ping pong balls can you fit in a 747 airplane?” Guesstimates “Why are manhole covers round?” Brain Teasers

What’s In a Business Case? What are the organizational change implications of a merger/acquisition? Your client is considering outsourcing some of its back-office functions. What would you advise? How would you advise your luxury goods client to market their new product in this depressed economy? Application of a practical client situation to an interview environment: Frame responses Think on one’s feet and stay cool under pressure Demonstrate practical business knowledge Opportunity to test the candidate’s ability to: It is most important to demonstrate how you think through the issues There are no “Right or Wrong” answers –

Candidate Skills Here, Logical structuring Analytical ability Business acumen Communi- cation skills Listening skills Creativity Confidence Grace under pressure Here,

How to Approach a Case Interview 1 Understand The Problem Clarify the question being asked 2 Develop A Logical, Structured Approach Show the interviewer how you are going to approach the problem 3 Conduct Analysis Using your structure, ask targeted questions and explore key business issues to move toward a solution Here, 4 Summarize & Wrap Up Summarize your analysis, provide a recommendation, and state next steps

How to Approach a Case Interview 1 Understand The Problem Take notes while the interviewer reads the case Determine what the case is and is not about A market entry case can be about either: The wisdom of such a move – Corporate Strategy Implementing the business decision – Operations Strategy Determine the key issue(s) and scope of the case by asking clarifying questions Prioritize the issues State and validate your assumptions 2 Develop A Logical, Structured Approach 3 Conduct Analysis Here, 4 Summarize & Wrap Up

How to Approach a Case Interview State your approach to the interviewer Demonstrates your ability to break down a complex problem into manageable pieces Provides a roadmap for both you and the interviewer to follow throughout the case A good structure is: An outline of how you are going to gather information and analyze the issues Appropriate for the specific case – don’t force a framework that doesn’t fit 1 Understand The Problem 2 Develop A Logical, Structured Approach 3 Conduct Analysis Here, 4 Summarize & Wrap Up

How to Approach a Case Interview Sample Frameworks 1 Understand The Problem Sketch out an “issue tree” that is MECE (Mutually Exclusive, Collectively Exhaustive) Be comfortable using several classic “Business Frameworks” SWOT – Strengths, Weaknesses, Opportunities, Threats 4 C’s – Customers, Competition, Cost, Capabilities Marketing 4 P’s – Price, Product, Position, Promotion Porter’s 5 Forces – Buyers, Suppliers, Substitutes, Potential Entrants, Competitions 2 Develop A Logical, Structured Approach 3 Conduct Analysis Here, 4 Summarize & Wrap Up

How to Approach a Case Interview 1 Understand The Problem Based on your structured approach, think out loud and ask questions to analyze the case Explore the key business issues for each element in your framework Validate hypotheses through questions and analysis Weave in key industry trends and best practices Be flexible and keep moving Use verbal and non-verbal feedback from the interviewer to determine which pieces are important and if your analysis is on-point Tell the interviewer when you are moving on to a new component of the case Adapt to any new information presented Determine additional steps you would need to take to move forward (e.g., more data, additional interviews) 2 Develop A Logical, Structured Approach 3 Conduct Analysis Here, 4 Summarize & Wrap Up

How to Approach a Case Interview 1 Understand The Problem Summarize key findings Begin by repeating the problem Be concise in your wrap-up Make a recommendation for next steps Display confidence and be persuasive Outline the pros / cons of the decision Support your conclusion with facts you have identified Describe expected impact and measures of success 2 Develop A Logical, Structured Approach 3 Conduct Analysis Here, 4 Summarize & Wrap Up

How to Prepare Know your material and know yourself. Brush up on your diagnostic models 3 C’s, 4 P’s, etc. Frameworks can help you structure your thoughts You do NOT need to use any specific framework to do well – just an organized approach Obtain a practice case guide to gain understanding of case format and what a good, structured answer looks like Understand what your own strengths and weaknesses are Are you naturally quantitative? Practice delivery and relationship building skills. Are you naturally engaging? Work on your problem solving techniques. Practice, practice, practice Review case studies on firm websites Find friends to interview you Here,

Tips for Successful Case Interviewing Be poised. Case Interviews assess more than just your problem solving skills. It is important to display professionalism, poise, and energy no matter how stressed you are. Don’t jump into your answer right away. When the interviewer gives the case interview question, do not rush into the analysis and response. Take a few minutes to write down key information and structure your thinking in your mind or on paper. Demonstrate you are listening. Reiterate your interviewer’s key points to show you are listening and be flexible enough to address non-verbal cues throughout the case. If the interviewer redirects you, do not fight them. Here, Focus on the approach. A good approach is often more important than the final “answer.” Ask questions and test assumptions before committing to an approach. This demonstrates logical thinking and careful planning. Think out loud. Make sure that the interviewer understands the roadmap you are following…“There are three issues I see facing company ABC...First, I will analyze one, then...” When doing math, talk through each of your calculations.

Relax and try to enjoy the exercise. Tips for Successful Case Interviewing Diagram your approach. To help structure your approach and develop a roadmap, draw pictures and sketch out your ideas. Let the interviewer see what you are doing. Be creative. There is no one “right” answer, however your recommendation should be clear and logical. Bonus points for innovative and non-traditional solutions. Finish strong. Be conscious of time and leave yourself enough time to pull your analysis together and make a concise, decisive recommendation with options to consider. Be prepared to “wrap it up” even if you run out of time. Here, Relax and try to enjoy the exercise. Learn techniques to relax. Do not appear flustered or frustrated, even if you feel the case is going poorly. You never know, so keep pushing along!

Questions Here,