case book and interview guide - myconsultingcoach ... 2001-2002 case book and interview guide...

Download Case Book and Interview Guide - MyConsultingCoach ... 2001-2002 Case Book and Interview Guide 1Chapter

Post on 09-Nov-2020

1 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

  • The MIT Sloan School of Management Management Consulting Club

    Case Book and

    Interview Guide

    October 2001

  • The MIT Sloan School of Management

    Management Consulting Club Many thanks to the MCC Case Book and Interview Guide Sponsors: Gold Sponsor:

    Case Contributors:

    i Management Consulting Club 2001-2002 Case Book and Interview Guide

  • Table of Contents

    Introduction...............................................3

    Chapter 1: How to Use the Case Book and Interview Guide .........................................5

    Chapter 2: Etiquette and the Interview Process.......................................................6

    Chapter 3: The Personal Interview ..........7 Format........................................................ 7 Preparation ................................................ 7 The Physical Factors of Interviewing .... 11 “Any questions for me?” ........................ 12 After the Interview.................................. 13

    Chapter 4: Typical Personal Interview Questions .................................................15

    Be prepared for these! ............................ 15 Possible approaches to tough questions 17

    Chapter 5: The Case Question ...............21 Format...................................................... 21 Preparation .............................................. 22 Types of Cases ......................................... 22 Practice Cases: sample cases .................. 27 Case Interview Tips................................. 28

    Chapter 6: Consulting Frameworks and Tools ........................................................30

    Typical business issues and related frameworks .............................................. 31 Profitability Analysis .............................. 32 Market expansion and Opportunities Assessment ............................................... 33 Competitive analysis: The 3 C’s - Customer, Company, Competition ........ 40 Marketing strategy: the 4 P’s................. 41

    Chapter 7: Basic Financial, Accounting and Economic Concepts .........................43

    Financial Concepts...................................43 Accounting Concepts ...............................46 Micro and Macroeconomic Concepts.....54

    Chapter 8: Practice Cases and Solutions57 Brain Teasers............................................57 Market Sizing ...........................................63 Operations ................................................69 Strategy...................................................105 Other Cases ............................................158

    Chapter 9: Sources for More Help.......165 About the Consulting Industry .............165 Researching Consulting Firms..............166 Personal Interviewing............................166 Case Interviews ......................................166

    Appendix: Recent Cases Provided by Consulting Firms ..................................167

    ii Management Consulting Club

    2001-2002 Case Book and Interview Guide

  • Introduction

    Dear Club Member,

    Welcome to your first step in a rewarding career as a management consultant: the interview process. Your fellow club members produce the Case Book and Interview Guide to give you a head start as you work through the long process of getting that dream job offer.

    MIT Sloan is arguably the most successful business school in the world for training management consultants and, just as importantly, placing them with firms.

    Just consider these facts:

    • Nearly 40% of MIT Sloan students go into the consulting profession on leaving Sloan.

    • The median base starting salary for MIT Sloan students entering consulting in 1999 was $95,000 and the median total compensation $140,000.

    This status will be maintained partly by the standard of interactive preparation. We recommend you use this casebook and other resources to practice, practice, and practice again. The consulting club will provide further help through its Buddy system, the Case Preparation Workshop program, and other case workshops.

    Please let us know your comments on the content of this book so that we could make it even better next year. A questionnaire will be posted on Sloan Space. We look forward to hearing your suggestions!

    Finally, thanks to all the students who contributed and produced the casebook. It could not have been done without you.

    Good Luck!

    Your club officers,

    Jamshed Cooper Petia Koutev Theresa Lagos Kamal Narang Jimmy Zhang

    3 Management Consulting Club 2001-2002 Case Book and Interview Guide

  • 5 Management Consulting Club 2001-2002 Case Book and Interview Guide

    Chapter

    1 Chapter 1: How to Use the Case Book and Interview Guide As you can see from the table of contents, the Case Book and Interview Guide is composed of eight chapters. These are our recommendations on how to use this book: • Read chapter two, ETIQUETTE AND THE INTERVIEW PROCESS and chapter three, THE

    PERSONAL INTERVIEW first. This will give you an idea of what the interview process is like. • Look over chapters four and five, TYPICAL PERSONAL INTERVIEW QUESTIONS and

    THE CASE QUESTION next. This will give you a deep understanding of what your interviewers will be looking for.

    • Now read chapter six, CONSULTING FRAMEWORKS AND TOOLS. Much of this material

    will be familiar to you. It is the sort of stuff you are paying lots of money to learn at Sloan. • Then…

    PRACTICE (we will say this more than once in this book)! Link up with at least two classmates. One plays the interviewer, one plays the interviewee, and one observes. Run through an actual 30-minute interview. Include some personal questions at the start. In short, role play an interview, keeping the tone as serious as you expect to find the real situation.

    • Try to practice with different people to get used to different styles of interviewing, hear more feedback, and to observe what works and what doesn’t.

    • Finally, attend Case Preparation Workshops to learn from the experts. Use your Buddy as

    another source of insight. Second year Buddies are more than happy to practice cases with you!

  • Chapter

    2 Chapter 2: Etiquette and the Interview Process Your performance in this area affects not only you, but also the reputation of MIT Sloan, its students, and its alumni. Please keep the following in mind…

    Your professionalism says a lot about you and MIT Sloan. Any lack of professionalism will have an even greater and more lasting effect! Here are the rules of interviewing: Don’t break the rules!

    • Follow through on your commitments. Don’t leave corporate presentations early! If you must, sit by the door and be discrete. If you sign up for an interview or a company dinner – go. If you must cancel, do so well in advance so someone else can have your spot.

    • Be early. A 9:00 a.m. interview means you should be in with your interviewer at 9:00, not taking off your coat and signing in. If they are running late and this impacts your schedule, be gracious and work with the coordinator to remedy the situation. Getting agitated won’t help.

    • Be prepared. Employers are very sensitive to people who come in and try to “wing it”. This reflects poorly on both you and MIT Sloan. So if you aren’t genuinely interested, don’t take the spot from someone who might really want it.

    • Celebrate discretely. Once you get a job offer, you will have the urge to go singing through the streets. Just remember, many of your friends are still looking and for them the disappointment is mounting.

    • Collaborate rather than compete. By helping one another out, we will all be prepared to do our best. This will encourage more companies to recruit at Sloan and for those already here, to hire greater numbers of students.

    6 Management Consulting Club

    2001-2002 Case Book and Interview Guide

  • 7 Management Consulting Club 2001-2002 Case Book and Interview Guide

    Chapter

    3 Chapter 3: The Personal Interview You may be tempted to just practice case interview questions and “wing it” through the personal portions. Don’t make this mistake! Your interviewer is just as interested in how you “fit” the firm as how fast you can chug through that industry analysis case. So here are some pointers gleaned from various interviewing books and Sloanies’ experiences. Disclaimer: Some of this may be common sense, but a little reminder never hurts!

    Format The “typical” consulting interview for a summer internship consists of two rounds. The first round is a screening round. You will normally interview with two consultants from the firm, one consultant for each interview. If you do well, you will be invited back, often the next day, for a second round of interviews. In the second round, you may have two or three interview