Consulting firms rely heavily on case interviews to find the right candidate and, therefore, you should practice them — practice them well, start practicing them early months prior to the interviewand then keep practicing them often. First, you have to show you have the skills to do the job. In addition, they are excellent test scenarios for communication on your feet. Case interviews go beyond just spouting business knowledge — you are tested on how you build and communicate a clear framework, break down problems into small pieces, develop real-world options, and recommend actionable solutions despite the presence of conflicting information.
Next This approach will allow you to crack any type of case study Solving a case in a case interview is not very different from the approach a consultant uses in real life to solve clients' problems.
You will need to: Develop an exhaustive structure that will guide you throughout the case interview efficiently.
The structure ideally will tell you where to look for the solution of the problem Develop a hypothesis early on and prioritize the information you need to gather.
Hence, it is important that you establish an open bi-directional communication and obviously your rapport with the interviewer is very important. Make sure you ask for only relevant information and ideally let the interviewer know why you need a particular piece of data, be as open and transparent in your thought process as possible, and think out loud to let the interviewer know your thinking process including your current hypothesis.
The Interviewer will likely provide verbal information or charts based on your questions. The foundation for a successful case is set at the beginning so follow these steps religiously during your interview practice 1. Restate the question and make sure you understand the problem statement by confirming with the interviewer Understand the problem really well before structuring or asking for data.
Do not simply repeat the question but rephrase it in such way that it would avoid misunderstandings. This is important because in consulting, it is crucial to understand the needs of the customers.
Clarify the goals Ask specific questions to clarify goals. Are there any other objectives I should know of? This will allow you to stay focused. Write out your structure First, ask your interviewer for a minute to prepare your structure since this part is extremely important and determines whether you will succeed in solving the case.
Practice structuring the case! If you have a good structure that is Mutually Exclusive Collectively Exhaustive MECEyou do not have to worry about running into dead ends because even if you do, you can dig down an alternative branch that will ultimately help you solve the case. Use an issue tree to help in customizing your structure.
Even if you have graduated with a business degree, it is impossible to know a company's business model without investigating details.
Thus, solving a case based on false assumptions is worse than asking a question you think you should know beforehand. Typically, you'd want to know: The size of the company Whether it is profitable and growing How a business transaction works within the company How is the product being produced and what are some crucial production steps?
For cases where external factors are decisive e. At which point of the lifecycle is the industry? What is its configuration?
Who are the key players? Who are the suppliers? Who has left the industry? Who has recently entered the market? Have any of the competitors changed their pricing? What about buying behavior? Was there a change in regulations?
What are the major substitute products? What are the future predictions about the market? In some cases, the crux of the matter is the product.
In these cases, you want to know: What exactly is the product? What does it do? What is it mainly used for?Management consulting case interview questions answers solutions, list of top consulting firms company, case interview sample example preparation tips, business case study, consulting jobs.
Consulting Case Interview Preparation Guide Marquis, Stanford GSB Class of Version #2 - Winter – Summer Strategy Consultant at Accenture – Summer a case interview, you will have to get to the “so what?”. To supplement our interactive case library, we’ve created the following guided practice cases to help you prepare for your interview.
Read through each case individually and consider how you’d solve the challenge that’s posed before reading our suggestions.
Case interview tips Cases can help us assess a candidate across multiple dimensions, and your answers should project clear thinking, practical judgment, and a professional demeanor.
Apply this five-step approach while working through the case interview. This approach will allow you to crack any type of case study.
Solving a case in a case interview is not very different from the approach a consultant uses in real life to solve clients' problems.
You will need to: Develop an exhaustive structure that will guide you throughout the case interview efficiently. The structure ideally will tell you where to look for the solution of the problem. Case Study Interview Examples: Questions and Answers You will need to prepare for an interview where case study questions will be asked.
While preparation is required for every job interview, extra time is required to adequately prepare for case study interviews.