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Fall Case Prep Workshop Session 1
“the business of consulting is really the renting of brains, packaged and delivered with an engaging and confident personality” – Case in Point7
September 27, 2012
Agenda
2
Overview of Fall Case Prep Workshop:
§ Scope (2 minutes)
§ Objec9ves (2 minutes)
§ Overview of Content (5 minutes)
Case Interview Prepara9on:
§ Sugges9ons for Ge@ng Started (2 minutes)
§ Consul9ng Recrui9ng Process Overview (2 minutes)
§ Case Interview Basics (10 minutes)
§ Framework Introduc9on: Profit Tree (15 minutes)
§ 1 on 1 Case Prac9ce (45 minutes)
§ Key Takeaways (5 minutes)
Scope
3
The 3 main goals of this workshop are to:
1. Create a sense of urgency
2. Provide materials & space to prac9ce
3. Ensure that you are using prepara9on 9me efficiently and that you are prac9cing
successfully
The ul'mate goal is that you are so well-‐prepared that the case interview is not the dis'nguishing factor, but rather, both you and the company are interviewing each other to determine if there is poten'al for a successful career and there is a cultural fit.
Objectives
4
At the end of the workshop, you should…
§ Understand what case interviewing is all about
§ Have a basic understanding of a very powerful framework
§ Have prac9ced a case interview at least once
§ Have a plan for your prepara9on throughout the summer
Overview of Content
5
Case Type Partner Club
27-S
ep
4-O
ct
11-O
ct
18-O
ct
25-O
ct
1-N
ov
8-N
ov
15-N
ov
29-N
ov
6-D
ec
Increasing Sales 27-Sep X New Product Marketing 4-Oct X
Pricing Strategies Marketing 4-Oct X Industry Analysis 11-Oct X
New Business EVCC? 18-Oct X Competitive Response 25-Oct X
Mergers & Acquisitions Finance 1-Nov X Increasing Profits Finance 1-Nov X
Turnaround 8-Nov X Entering a New Market Strategy 15-Nov X
Growth Strategies Strategy 15-Nov X Reducing Costs 29-Nov X
Getting Started
6
§ Buy a book (or borrow one from the BCC Library) and read it
§ Case in Point
§ Crack the Case
§ MBA Case § Check out online resources
§ Job Juice § Victor Cheng § Other MBA Program casebooks (Wharton, Kellogg, HBS, others) § WetFeet.com
§ Find a partner § Set a schedule and s9ck to it
§ Come to these sessions! They are happening every week this Fall!
Recruiting Process
7
§ Organized Events
§ Meet the Firms
§ Club events
§ Workshops
§ Informa9onal Interviews
§ Job posted and resume drop
§ Interviews
§ Behavioral
§ Case Interviews*
§ Many types and levels of intensity
Case Interview Basics
8
§ Why Focus on the Case Interview?
q Its different from all of the other stuff
q It takes prac9ce
§ The interviewer is looking to see if the candidate…
q Is confident, relaxed, mature. q Is a good listener q Is engaging and enthusias9c q Has strong social skills q Has strong presenta9on skills q Asks insighaul, probing ques9ons q Can find and discard red herrings q Organizes informa9on effec9vely q Has a logical framework for analysis
q States assump9ons clearly q Understands and discusses
mul9func9onal aspects of the case q Acempts to quan9fy responses at
every opportunity q Displays business sense and common
sense q Thinks crea9vely q Rolls with the punches
q Defends himself or herself without being defensive.
Case Interview Basics – Continued
9
• Entering a New Market
• Industry Analysis
• Mergers and Acquisitions
• Developing a New Product
• Pricing Strategies
• Growth Strategies
• Starting a New Business
• Competitive Response
• Increasing Sales
• Reducing Costs
• Improving Bottom Line
• Turnarounds
Case Interview Scenarios:
Other types of cases:
• Brainteasers
• Market sizing cases
• Numbers cases
• Factor cases
Framework Review
10
• Market Analysis: Size, potential, growth, shares, macro, part of ‘external’ analysis, PEST, Portfolio Analysis… |
• Consumer Analysis: B2B (Buying Center, Value Stack), Involvement, Utilitarian/Ego-expressive, pre & post purchase, B2B vs. B2C… |
• Company Analysis: Resources & Capabilities, SWOT, Portfolio Analysis… |
• Competitor Analysis: Identify, understand, predict, Portfolio Analysis… |
• Goals & Objectives: Market Share, Profit, ROI, Revenues, # of units, ‘Image’, Customer Satisfaction, NPV… |
• Segmentation, Targeting, & Positioning: Why, What, How, Product/ Market Selection, Positioning Statement, Perceptual map… |
• Marketing Programs |
• Financial Projections: ProForma/P&L, Link with Goals/Objectives… |
• Organization, Implementation, Monitoring, Control: Factors aiding/ hurting implementation… |
§ Product Strategy: PLC, Multi-attribute Model, product vs. service, brand & line extensions, managing image... )
§ Promotion Strategy: 7Ms of Advertising, Advtg vs. SP… )
§ Place (Distribution): Channel functions, selection, profits, management… )
§ Pricing Strategy: Ceiling/Floor, Premium for Innovation, Economics & Psychology based approaches, factors influencing pricing… )
Case Interview Execution
13
§ Marc Cosen9no’s Case Commandments: 1. Listen to the ques9on 2. Take notes 3. Summarize the ques9on (out loud) 4. Verify the objec9ves 5. Ask clarifying ques9ons* 6. Organize your answer* *Frameworks 7. Think before you speak 8. Manage your 9me 9. Work the numbers* *Math 10. Be coachable 11. Be crea9ve and brainstorm 12. Exude enthusiasm and a posi9ve a@tude 13. Bring closure and summarize
Practice, Practice, Practice!
Case Practice #1: Cow Brothers Premium Ice Cream p. 93 - Case in Point7
14
Case Practice #2: Full Speed Ahead p. 150 - Case in Point7
15
Additional Case Practice: Full Speed Ahead p. 150 - Case in Point7
16
Key Takeaways - Increasing Sales
17
Approach § Assess the situation Note: Increasing sales doesn’t necessarily mean increasing profits
Considerations § Growth relative to market share § Changes in market share § Customer polls § Are prices competitive? § Competitors strategies (marketing and product development)
How § Increase volume - more buyer, increase distribution channels, intensify marketing § Increase amount of each sale - get each buyer to spend more § Increase prices § Create seasonal balance - increase sales in every quarter by catering to the season