Case in Point 11th Edition: Complete Case Interview Preparation

CASE IN POINT 11th edition Complete Case Interview Preparation Copyright ©2020 Burgee Press P.O. Box 60137 Santa Barbara CA 93160 All rights reserved. No part of this book may be reproduced in any form, except brief excerpts for the purpose of review, without written permission of the publisher. As with all case questions, we assume facts not in evidence, as well as generous assumptions. Recognizable companies are used as examples because of the power of their brands and their public familiarity. Information concerning the actual companies cited as examples may not be accurate. This information was based on research but should not be used as reliable up-to-date data. ISBN: 978-0-9863707-7-9 Library of Congress Cataloging-in-Publication Data: Case in Point: Complete Case Interview Preparation / Marc P. Cosentino – 11th ed. Library of Congress Card Number Printed in the United States of America First Printing 1999 – Second Edition 2001 – Third Edition 2004 – Fourth Edition 2005 – Fifth Edition 2007 – Sixth Edition 2009 – Seventh Edition 2011 – Eighth Edition 2013 – Ninth Edition 2016 – Tenth Edition 2018 – Eleventh Edition 2020 Edited by: Monica Jainschigg Cover and Interior Layout Design by: Worthy Marketing Group 1 DEDICATION To Cal Hunter. It’s not often late in life that you encounter a new mentor. A person who recalculates your thinking and points you in a smarter direction. ACKNOWLEDGMENTS Special thanks to Matt Chambers, a UCLA MBA. student who contributed a list of risks. A big shout out and thank you to Zoe McLoughlin from the London Business School Career Center for designing the “Cases Simulate a Typical Consulting Project” slide on page 1. And to Mukund Jain who contributed cases. ALSO BY MARC P. COSENTINO Case in Point: Government and Nonprofit. Case Interviewing & Problem Solving for the Public Sector Case in Point: Case Competition. Creating Winning Strategy Presentations for Case Competitions and Job Offers Case in Point: Graph Analysis for Consulting and Case Interviews The Harvard College Guide to Consulting Case Questions The Harvard College Guide to Consulting The Harvard College Guide to Investment Banking NOTE TO THE READER 2 From Marc Cosentino: I often get asked why I have come out with 11 editions while many of my competitors have only come out with one. The answer is simple: Because things change in case interviews, and the readers need to be aware of those changes. The structures, approaches, and recommendations of the past don’t cut it anymore. In Case in Point 11 I have continued to streamline the material and added four new cases. I’ve focused on cases that are relevant, challenging, and sophisticated – with plenty of graphs and lessons built in. I like to think that I craft a case - not just write a case. I’ve added material up front, such as how a case interview simulates a consulting project, as well the changes taking place in case interviews across the globe, including the McKinsey video and BCG online exercises, an updated recommendation section, 21 Risks, 11 Synergies, 7 Disrupting External/Macro Factors and more. 3 The mind is wondrous. It starts working the second you’re born and doesn’t stop until you get a case question. 4 Contents 1 : INTRODUCTION 2 : THE INTERVIEW + INTRODUCTION + QUESTIONS ABOUT YOU + WHY CONSULTING? + YOUR QUESTIONS + WHY SHOULD I HIRE YOU? + FIRST-ROUND TELEPHONE INTERVIEWS + FIRST-ROUND SKYPE/ZOOM INTERVIEWS + FIRST-ROUND GROUP CASE INTERVIEWS + GETTING CHALLENGED + CONFIDENCE + ADVICE FOR INTERNATIONAL STUDENTS + ADVICE FOR INDUSTRY HIRES 3 : CASE QUESTIONS + WHAT FIRMS LOOK FOR + CASE PREPARATION + INTERVIEW EVALUATION FORMS + TYPES OF CASE QUESTIONS + MARKET SIZING QUESTIONS + FACTOR QUESTIONS + WRITTEN GROUP CASE AND TESTS + IF YOU GET STUCK + THE TROUBLE WITH MATH + NOTES DESIGN 5 + RECOMMENDATIONS, SUMMARIES, AND THE FINAL SLIDE + CASE JOURNAL 4 : IVY CASE SYSTEM + BEST CASE THINKING - BUILDING YOUR CASE CRED + THE FIRST FIVE STEPS + KEY QUESTIONS FOR ADDITIONAL SCENARIOS + “IF” SCENARIOS TO REMEMBER 5 : PRACTICE CASES + HARLEY-DAVIDSON + COORS BREWING COMPANY + CASE STARTS + CASE STARTS – CASES + CASE PRACTICE + CASE LIST + THE SHOW’S OVER – NETFLIX + XHEAD + SNOW JOB + FLATLINE + BLADE TO BLADE + DISPOSABLE REVENUES + JAMAICAN BATTERY ENTERPRISE + POWERSPORTS POWERTHROUGH + MUSIC TO MY EARS + IN THE RED + RED ROCKET SPORTS + COKE 6 + THE UP-IN-SMOKE CIGARETTE COMPANY + CABANA FEET + WIRELESS WORRIES + THE DISCOUNT BROKERAGE RACE + THE BEST SHOT + PARTNER CASES + PARTNER CASES LIST + THE ROOMMATE’S GUIDE + STUCK + NERVES OF STEEL + GPS APP + FINDING FULFILLMENT + KBO APPLIANCES + BULLETPROOF AUTO GLASS + STATIN BLUE + BOTTLED WATER + TEDEX + GASSED UP 6 : FINAL ANALYSIS 7 : PARTNER CASE CHARTS + NERVES OF STEEL + STATIN BLUE + BOTTLED WATER ABOUT THE AUTHOR ADDITIONAL PRODUCTS BY CASEQUESTIONS.COM 7 8 1 : INTRODUCTION TM Our client is Skullcandy . The company hired us to determine whether and how it should enter the wearables market. Consulting firms are in the business of renting out brains. Consultants are paid to synthesize massive quantities of foreign data, toss out the irrelevant information, structure an approach to a given client issue, and hypothesize logically and creatively for people of power and influence (such as the bigwigs at Skullcandy). That’s why consulting firms put so much weight on the case question – because it allows them to judge how logically and persuasively a potential consultant (i.e., you) can present a case. In essence, a case interview is a role-playing exercise. An interviewer gives you a hypothetical business situation and asks you to solve it. Keep in mind that in most cases there is no one right answer. Dialogue is always more important than consensus. You should put yourself in your client’s shoes, and produce outcomes. The case isn’t about you, it’s about the client. Everything you say and do should move the case forward in the name of the client. Why do they give case interviews? Does it really match up to what I’ll be doing as a consultant? YES. Consulting firms have been giving case interviews for over 60 years. As you can see below, the process is very similar – it’s the timing that’s different. A consulting engagement can last anywhere from three to 18 months, a case interview lasts anywhere from 20 to 40 minutes. 9