CASE INTERVIEW BOOTCAMP TULANE UNIVERSITY FEBRUARY 2020 PRESENTED - PDF document

2/8/20 CASE INTERVIEW BOOTCAMP TULANE UNIVERSITY FEBRUARY 2020 PRESENTED BY JENNY RAE LE ROUX MANAGEMENT CONSULTED 1 PRE-TEST Size the market for avocados in Canada (2 min) Then, defend your answer to a partner (1 min each) MANAGEMENT CONSULTED 2 4 STEPS TO SOLVE ANY SIZING QUESTION Population % Who Frequency Weighted / Own/Buy of Purchase Avg. Price Households MANAGEMENT CONSULTED 3 1

2/8/20 NEED TO KNOW INFO U.S. Population Population of city living in Population of city interviewing for Population of 2 Countries/Continent MANAGEMENT CONSULTED 4 QUESTION What is one thing you hope to take away from today? MANAGEMENT CONSULTED 5 AGENDA — Market Sizing — Case Interview Overview — Advanced Case Walkthrough — Case Structures — Case Math and Key Equations — Case Practice Plan MANAGEMENT CONSULTED 6 2

2/8/20 WHAT WE DO www.managementconsulted.com Self-study On-site training bootcamps materials 1:1 Free editing/ content MC training MANAGEMENT CONSULTED 7 MC COVERS THE FULL PROCESS Resumes & Networking Cover Letters JOB OFFERS! Fit Interview Prep On-the-Job Case Interview Prep Skills Training MANAGEMENT CONSULTED 8 CLIENTS RECEIVE OFFERS FROM: CLIENTS RECEIVE OFFERS FROM: MANAGEMENT CONSULTED MANAGEMENT CONSULTED 9 3

2/8/20 CASE INTERVIEWS It’s not about the answer – it’s about the process. MANAGEMENT CONSULTED 10 THE INTERVIEW PROCESS Network Fit Interview Case Interview OFFER! MANAGEMENT CONSULTED 11 THE REALITY OF SCORING 1 st round 2 nd round Case Interview Fit Interview Case Interview Fit Interview MANAGEMENT CONSULTED 12 4

2/8/20 3 KINDS OF CASE INTERVIEWS 1:1 Interview Presentation Interview Group Interview MANAGEMENT CONSULTED 13 WHY FIRMS USE CASE INTERVIEWS Can you do the tactical work of a consultant? Do you understand how a consultant works? Are you someone who would be fun to manage? MANAGEMENT CONSULTED 14 BACKGROUND – Jenny Rae MANAGEMENT CONSULTED 15 5

2/8/20 3 EVALUATION CATEGORIES Structure Problem-solving Communication MANAGEMENT CONSULTED 16 CASE INTERVIEW ANATOMY • The Background • The Recap • Case and Objective Clarification • The Grand Pause • The Game Plan • Creative Questions • Quantitative Questions • Case Summary and Next Steps MANAGEMENT CONSULTED 17 KEY CASE INTERVIEW DIFFERENCES Top 3 Big 4 Boutique MANAGEMENT CONSULTED 18 6

2/8/20 SCORING (MCK/ACCENTURE; BY QUESTION) Scoring key 1 (Opening question) 1 Candidate does not recap the background 2 Candidate recaps the background with too much detail or lacks confidence 3 Candidate hits most of the key elements but provides them in an unstructured way; begins to ask detailed questions not relevant at this point in case 4 Candidate gives answer that hits key elements of background at a high level but does not demonstrate complete understanding of what company does 5 Candidate provides clear, concise, structured response and, if appropriate, asks 1-3 clarifying questions MANAGEMENT CONSULTED 19 SCORING (MCK/ACCENTURE; OVERALL) Interviewer Summary ___ 1 Opening Question (1-5) ___ 2 Initial Structure (1-5) ___ 3 Quantitative (1-5) ___ 4 Creative (1-5) ___ 5 Summary (1-5) ___ 6 Overall Structure (1-5): Candidate consistently presents ideas in logical lists and bullets, even during creative responses; manages the flow of the case with ease and does not get confused. ___ 7 Overall Problem Solving (1-5): Candidate maintains focus/awareness on hypothesis and drives to solutions; excellent at math (mental/calculations), quick to realize and correct mistakes, adept at tying data to overall conclusions. ___ 8 Overall Communication (1-5): Candidate provides concise, well-spoken responses to each question; demonstrates confidence and works through difficulty (but maintains positive attitude). You would enjoy working with and managing this candidate, and would trust them to be clear and complete. _______ OVERALL TOTAL _______ OVERALL AVERAGE MANAGEMENT CONSULTED 20 SCORING (BAIN/BCG/DELOITTE; ABBREVIATED) MANAGEMENT CONSULTED 21 7

2/8/20 CASE INTERVIEW OPENINGS You never get a second chance to make a first impression. MANAGEMENT CONSULTED 22 CASE INTERVIEW OPENINGS The background The recap Case and objective clarification MANAGEMENT CONSULTED 23 QUESTION: PROMPT Our client is the London Millennium Dome. The Dome is a large recreational and leisure experience facility in Greenwich in London. The facility consists basically of a large tent. Inside the tent there are 17 “Zones”, each of which has a different theme, and each of which is sponsored by a different company. Sponsors have full creative control over their exhibits, and some zones are extremely popular, while others are less popular. The Dome is suffering from significant financial problems as well as a large amount of negative publicity. We have been appointed by the UK government to come up with a solution for how to turn this around. To make matters worse, the facility will be closed in 10 months unless we can resolve the issue. How would you devise a plan to turn around the London Millennium Dome? MANAGEMENT CONSULTED 24 8

2/8/20 CLARIFICATION FOR BETTER STRUCTURES OKAY New data New objectives Metrics for success GREAT Anything you missed Confirm understanding Reduce problem scope MANAGEMENT CONSULTED 25 CASE INTERVIEW STRUCTURE The grand pause The game plan MANAGEMENT CONSULTED 26 CASE INTERVIEW STRUCTURE 1 2 4 3 Bucket A Bucket B Bucket C Bucket D • Data 1 • Data 1 • Data 1 • Data 1 • Data 2 • Data 2 • Data 2 • Data 2 • Data 3 • Data 3 • Data 3 • Data 4 MANAGEMENT CONSULTED 27 9

2/8/20 CASE MATH QUESTIONS Support your blob of ideas with some real numbers. MANAGEMENT CONSULTED 28 KEYS TO GETTING IT RIGHT Use all 4 structured steps Do all steps verbally Accuracy > Don’t pause speed (exception: McKinsey) MANAGEMENT CONSULTED 29 QUESTION: MATH The London Dome generates money in a variety of ways, but, let’s assume for simplicity’s sake that the London Dome only generates revenue from ticket sales. Adult tickets: £24.30 Child tickets: £11.60 The venue can hold up to 22,000 visitors/day Last month, they had an average of 15,231 visitors/day The child to adult ratio is 50/50 The dome is open 7 days a week What were the revenues this past month? MANAGEMENT CONSULTED 30 10

2/8/20 ANSWER: MATH Guidelines Proposed answer — Math theory Daily X 30 days ¡ Support answer with Vol. Total Price numbers Adults £24 7,500 £180 K ¡ Ability to design models ¡ Mental math in meetings Children £12 7,500 £90 K and reviewing work £270 K X 30 — Math steps £8.1 M ¡ Recap Insights/next steps ¡ Structure • Under capacity ¡ Solve • Costs? ¡ Insight • Seasonality or trends? MANAGEMENT CONSULTED 31 CASE CREATIVE QUESTIONS Dive deep into your plan with structured brainstorming. MANAGEMENT CONSULTED 32 KEYS TO GETTING IT RIGHT Use all 4 Do all steps Don’t pause structured verbally but What else? (exception: steps take notes McKinsey) MANAGEMENT CONSULTED 33 11

2/8/20 CASE CREATIVE QUESTION — What are some ways London Dome could increase its revenues? MANAGEMENT CONSULTED 34 CASE CLOSINGS Why the case closing is so 2 types of important case closings 3 elements of every case closing Final recommendation MANAGEMENT CONSULTED 35 QUESTION: RECOMMENDATION You are preparing for an update meeting with the CEO of the London Dome, but you run into her in the cafeteria. She asks you what your recommendations are at this point. How would you respond? MANAGEMENT CONSULTED 36 12

2/8/20 CASE INTERVIEW STRUCTURE Start strong – it will make or break the case. MANAGEMENT CONSULTED 37 QUICK STRUCTURE QUIZ What are characteristics of a good case structure? • Duration to create • Duration to present • Number of categories • Number of levels • How to end MANAGEMENT CONSULTED 38 ANSWER What are characteristics of a good case structure? • Completed in 2 minutes (not more, not less) • 2 minutes • 4 categories (this lines up with staffing) • 2 levels: 1 st level is concept, 2 nd level is data • Ends with hypothesis (open or defined) MANAGEMENT CONSULTED 39 13

2/8/20 CASE FRAMEWORKS Market Sizing Profitability Mergers & Market Study Acquisitions MANAGEMENT CONSULTED 40 PROFITABILITY 4 types of profitability cases Key clarification questions MANAGEMENT CONSULTED 41 PROFITABILITY STRUCTURE ? ? ? ? Price Volume Variable Fixed Cost Cost • Demand • Channels • Variable • Fixed Labor Labor/Salari • Customer • Marketing es negotiation • Materials • Competitor • Rents • Product mix features • Distribution • Utilities • Discounting • Price elasticity • Competitor pricing MANAGEMENT CONSULTED 42 14