1. St. Olaf Management Consulting Group
September 9, 2013 Info Session

2. Agenda Unpack Management Consulting Purpose of the group
Uncover the application & interview process – Case Interviews
Meeting Schedule & Resources
Assign prep-work

3. What is Management Consulting?
Building the capabilities of clients
Adding value to the client’s business through strategy development & problem-solving
Develop your own answer to this question

4. Purpose of this group Drive awareness of careers in consulting
Prepare students for case interviews
Provide networking opportunities
See Piper calendar for recruiting events

5. Applications Know when applications are due!!!!
Review your resume with the Piper center
Requirements to apply
GPA > 3.7
Any and all types of majors
What the recruiters look for…
Demonstration of leadership
Analytical skills
Teamwork

6. Well-written Resumes Active language Well-organized
Managed, created, led, developed, organized, formed
Well-organized
Tailored towards business
Quantify success
E.g. Led a team of 6 members to develop a marketing strategy for product X

7. Networking Networking needed for your resume to be read
Develop contacts through recruiting events
Follow-up with an
Set-up a phone call
Be assertive!

8. Interviews Process Structure Two first round interviews
Two final round interviews
Structure
Diagnostic
Prepare stories to draw from
Research firm
Case

9. Cracking the Case: Structure
Interviewer presents case scenario
Identify the type of scenario e.g. profit & loss, cost reduction, merger & acquisition
Outline strategy
Materials provided by interviewer throughout the case e.g. graphs, profit & loss sheet, data set
Solution/Summarize the case

10. Cracking the Case: Steps to Succeed
PRACTICE
Develop your own strategy/routine for each case scenario
Build confidence
Keep a Case Journal
Review what you learned , mistakes, areas you would have done differently
Review business terms
Be confident with math skills
Utilize resources
Case in Point
Additional materials

11. Cracking the Case: Practice Schedule
Schedule practice cases with peers
Sign-up for a time slot with me
Schedule one practice case with an associate or consultant from a firm

12. Tips for Successful Case Practices
Receiving case
Provide interviewer with case ahead of time
Review strategies for all case scenarios
Interviewer
Look through the case ahead of time
Let the interviewee drive the case – if they get stuck, offer some guidance to steer them on course
At the end of the case, ask them to summarize the case
Give the interviewee feedback – strengths & areas for improvement

13. Prep-work Get a copy of Case in Point Memorize strategies
Read a couple of cases to familiarize yourself with structure
Practice ALOUD the case starts
Memorize strategies
See appendix

14. Appendix: Case Strategies
Top 5
Improve Bottom Line: Profits
Reduce Costs
Entering New Market
M&A (merger & acquisition)
Growth Strategies

15. Case Strategies Remainder Developing New Product Increasing Sales
Pricing Strategy
Competitive Response
Turnarounds
Industry Analysis

16. Improve Bottom Line E = (P = R-C)M
Economy = (Profit = Revenue – cost)*Market
Start big & work in – is this an economy or market wide problem? If no, move in to the revenue & cost structure
Profit
Revenue
Price
Volume
Identify major streams
Change in % of total revenue over time
Costs
Identify major costs
Benchmark agst. competitors

17. Reduce Costs Assessment Internal cost analysis External cost analysis
Cost breakdown – any irregularities?
Benchmark agst. competitors
Internal cost analysis
Union wages
Suppliers
Raw materials
Economies of scale
External cost analysis
Economy wide problem?
Interest rates
Gov’t regulations
Transport/shipping strikes
Solutions
Labor
Cross-train workers
Across the board pay cuts
Change to 4, 10 hour work days
Production
Invest in technology
Consolidate production space to gain scale
Flexible product lines
Just in time manufacturing – reduce inventories
Outsource
Renegotiate with suppliers
Import parts

18. Entering a New Market Assessment Current market Decision to enter: CBA
State of current market
Investigate new market
Current market
Major players – market share
Product differentiation
Barriers to entry?
Decision to enter: CBA
Start from scratch
Acquisition
Joint venture

19. Growth Strategies Assessment Strategies Increase distribution channels
Industry Growing?
Competition
Prices in relation to comp.
Identify segment of business with highest growth potential
Strategies
Increase distribution channels
Increase product line
Invest in major marketing campaign
Diversify products/services
Acquire competition

20. Merger & Acquisition Objective Acquisition costs Due Diligence/Risks
Boost Brand image
Pre-empt competition
***Synergies
Cost savings
Distribution channel expansion
Acquisition costs
Fair Price?
How will it be financed?
Due Diligence/Risks
Shape of economy
Market leader?
Profit margins
Competitive response

21. Developing New Product
What’s special/proprietary about it?
Similar/substitutes available?
Adv./Disadv.
Fit in with product line?
Customers
Target customers?
How to reach them?
How do we retain them?
Market Strategy
Does it affect product line? **Canibalize an existing product?
Competitive Response
Enter a new market?
Finance
Best allocation of funds