cracking the case_deloitte
TRANSCRIPT
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 1/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.
Cracking the CaseA Consulting Interview Primer
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 2/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.1
Introductions
What is a case?
What are companies looking for in the case interview?
How do you approach a case?
Practice
Agenda
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 3/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.2
Analyze the situation
Identify key business issues
Summarize findings and takeaways
Outline next steps
What is a case?
A case is a hypothetical business issue or dilemma thatrequires you to:
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 4/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.3
Relevant to a broad spectrum of employment opportunities
(marketing, investment banking, consulting)
A critical component of the recruiting process at many firms
Offer you an opportunity to demonstrate your flexibility, your
analytical ability, your experience « and your creativity
What is a case interview?
Cases are a key part of the interview process
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 5/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.4
R ecent examples of case interview questions
What are the marketing implications of a partnership between
ChevronTexaco and 7-Eleven in which the gas would be supplied byChevron and the convenience store would be managed by 7-Eleven?
What strategy should a regional grocery chain pursue to
combat/survive against the imminent arrival of Wal-Mart Supercentersin the region?
What are all the uses you can think of for Hidden Valley Ranch saladdressing?
How would you forecast revenues for Herceptin, a protein-basedbiotherapy for metastatic breast cancer?
These questions were all asked in case interviews at Kellogg in 2004
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 6/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.5
What are companies looking for in the caseinterview?
Problem definition and solutionstructuring
Analytical ability
± Quantitative capabilities
± Dealing with apparent dead-ends
Ability to . . .
± Synthesize data
± Think creatively
± Defend hypothesis
Communication skills
± Listening
± Presentation / speaking
Business acumen
Confidence
Analytical Skills People Skills
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 7/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.6
How to crack the case
1. Understand the issue; ask clarifying questions as needed
2. Identify and test the underlying assumptions
3. State your null hypothesis
4. Select an appropriate analytical framework
5. Use the selected framework to identify key business issues
(Keep your eye on the clock!)
6. Summarize key issues and findings
7. Outline your final recommendation and the expected results or
impact
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 8/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.7
Choosing a framework
Choose a framework that fits the problem
Don¶t be afraid to create your own framework ± as long as it makes
sense
A framework provides structure to guide your analysis of the case and
helps you to identify a good solution
You will probably need a framework to come up with a good answer to a
case question
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 9/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.8
The key is selecting the right framework forthe problem
Competitive strategy± Porter¶s 5 (or 6, or 7) Forces
± SWOT Analysis (Strengths, Weakness, Opportunities, Threats)
Organizational
± 7-S (Strategy, Structure, Systems, Style, Staff, Skills, Shared Values)
Marketing
± 4 P¶s (Product, Price, Place, Promotion)
± 3 C¶s (Company, Competitors, Customers)
± Growth / Share Matrix
Profitability
± Profit = Revenue ± Cost
± Revenue = Price x Quantity
± Cost = Fixed Costs + Variable Costs
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 10/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.9
Logical structuring is essential
Logic should be MECE
± Mutually Exclusive, Collectively Exhaustive
± Structure of your argument is rigorous, non-overlapping, and complete
Structure your answer as well as your thinking
± Say what you¶re going to say, say it, and say what you said
± Don¶t lose sight of your structure when speaking
± Be consistent and convincing in the message you¶re trying to get across
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 11/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.10
Approach: Practical tips
Take a deep breath
± Take a minute or two to structure your approach
± Think before you speak
± Speak what you are thinking
Ask questions
± You have to know the question before you can provide an answer
± Information is generally provided only when it is requested
± Be ready to explain the logic behind your question if challenged
± The ability to ask intelligent questions is a key professional skill
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 12/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.11
Approach: Practical tips
Write it down
± Structure your notes in line with the selected framework
± Use charts and diagrams to better communicate your ideas
Show your reasoning± Talk the interviewer through your thought process
± You are being evaluated on the process as much as the answer
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 13/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.12
Chicago Symphony Orchestra
The Chicago Symphony Orchestra experienced a significantdecrease in ticket sales for its 2004 Summer Concert Series
compared to sales for the past three years. The series is held
at the Ravinia Festival Grounds in suburban Highland Park,
and has become a Chicagoland tradition. In planning for the
Summer 2005 Concert Series, the coordinators have been toldthat sales for the 2005 Summer Concert Series must increase
in order for the series to continue. The coordinators have
asked you to determine why sales were down for 2004 and
advise them as to how they can ensure a successful and
profitable Summer Concert Series for the year 2005.
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 14/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.13
Chicago Symphony Orchestra: Possible response
1) Understand the issue; ask
clarifying questions as needed
What went wrong?
What should CSO do in 2005?
2) Identify and test the
underlying assumptions
Quality of performance has
remained constant
Major macroeconomic factors
3) State your null hypothesis Lack of parking availability hasaffected ticket sales
4) Select an appropriate
analytical framework
Product, Place, Price, Promotion
Company, Competitors,Customers
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 15/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.14
Chicago Symphony Orchestra: Possible response
5) Use the selected framework to
identify key business issues
Ease of implementation
Extent to which it addressesthe problem
Level of benefit
6) Summarize key issues andfindings Offer a shuttle service fromvarious central locations
Create partnership with localtransit to offer discounted orfree transportation
Expand METRA service from
Chicago and other key cities
7) Outline next steps and your
final recommendation
Who to contact
How to implement
What¶s the timeline
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 16/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.15
Feedback
Problem definition and solution structuring
Analytical ability
± Quantitative capabilities
± Dealing with apparent dead-ends
Ability to . . .
± Synthesize data
± Think creatively
± Defend hypothesis
Communication skills
± Listening
± Presentation / speaking
Business Acumen
Confidence
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 17/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.16
Kellogg Premium Water
You have just been named Brand Manager of Kellogg Premium
Water. Your sales are declining. What would you do to reversethe trend?
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 18/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.17
Kellogg Premium Water: Possible response
Is the decline driven by a general category decline or a share declinefor Kellogg Premium Water?
Why is share or category declining?
± Substitutes
± Change in consumer habits
If category is declining, determine strategy to increase category usage If share is declining, determine why (explore 4Ps):
± Price ± Has price changed relative to competition?
± Product ± Has the quality of the product changed? Are there any competitiveproduct upgrades/new products?
± Promotion ± Have my promotions/advertising changed or decreased? Anynew competitive promotions/advertising?
± Placement - Have I lost any distribution? Have competitors gaineddistribution?
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 19/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.18
Case interviewing: Do¶s
Listen to your interviewer, take your time and make sure youunderstand the question
Ask questions to gather background information
Develop an approach and a hypothesis and bounce questions off your
interviewer to test them out
Show the interviewer what you¶re thinking ± talk through your thoughtprocess
Once you have identified some underlying problems, formulaterecommendations and be prepared to defend them
Finally, when closing your answer, define the problem, actions youwould take, why you would take them, and the expected results
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 20/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.19
Case interviewing: Don¶ts
Don¶t jump into your answer right away
Don¶t make assumptions without clarifying with the interviewer
Don¶t worry about the right answer, worry about the right approach
Don¶t explicitly or exclusively rely on canned frameworks
Don¶t appear flustered or frustrated
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 21/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.20
Questions?
8/3/2019 Cracking the Case_Deloitte
http://slidepdf.com/reader/full/cracking-the-casedeloitte 22/22
Copyright © 2004 Deloitte Development LLC. All rights reserved.21
Contact information
Jeremy Miller, Manager [email protected]