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For example, a Company bringing a new product to market would require a market size analysis, competitor analysis, as well as understanding the key customer segments.The more you practice, the easier the cases will become and the more articulate and structured you’ll be in your answers.
It can help determine whether a market or company is attractive, whether the client for whom the analysis is being performed is a private equity firm thinking about buying a company, or a major company thinking about entering or exiting a certain market segment.
In most cases, a Case Study will address at least some of the components found in this framework.
Therefore preparing for Case Studies—from becoming comfortable with the concept all the way up to being ready and confident for the Case, whatever it may be—is one of the most important things a prospective Consultant must do in the Consulting recruiting process.
First, let’s ponder an important question: why do Management Consulting firms focus so much on Case Studies as part of the interview process?
For example, a classic SWOT analysis might entail benchmarking Delta Airlines with the airline industry as a whole; an extension could entail benchmarking the entire airline industry against the broad transportation sector.
Specific Performance Law Essay - Management Consulting Case Study Questions
You should be very familiar with the well-known frameworks already discussed in this chapter, although it is unlikely that an interviewer would ask you to use a particular framework in your analysis.These techniques tend to be numerical, and occur frequently, although none are comprehensive or broad enough to fall into the category of a “Framework”: Unlike Investment Banking interviews, which can be detailed and highly technical in terms of Finance and Accounting, Consulting interviews and the Consulting job itself revolve much more around estimation and exercising business judgment and “what-if” analysis.Rarely would a Consultant be called upon to develop and maintain a detailed, precise financial model for Discounted Cash Flow valuation, for example.However, be aware of the “famous” frameworks in case they are mentioned in an interview setting, and don’t be shy about referencing them as you dive into the specifics of the Case Study you’re evaluating.Porter’s Five Forces has become an incredibly well known framework in the business strategy world. Porter’s Five Forces is a high-level framework that you can draw upon to perform a market landscape and competitor dynamics analysis.Although these concepts will not be tested and do not form a major part of general Consulting Case Study interviews, these topics can appear in a general discussion about a particular business situation and you should be able to discuss them at least on a basic level.If you are applying for a job in Business Development, or for a Consulting position in a Corporate Finance group or at a firm that does a lot of Corporate Finance Consulting work, then you should definitely study up and be prepared for these core Finance and Accounting concepts, because they will likely be tested on in detail in your interviews.Case studies offer a method to evaluate who the firm believes will be the best Consultants among many qualified and talented candidates.In other words: it doesn’t matter how much “raw talent” you have—if you cannot succeed in the Case Studies portion of Consulting interviews, there is a good chance that Consulting may not be the right field for you. Microsoft, Google, etc.) and financial industry firms (such as hedge funds and private equity firms) have followed the Consulting industry’s lead by developing Case Study interview methodologies of their own.Instead, it is typically expected that you draw on the concepts encompassed by these frameworks and/or the concepts that we will outline in the next chapter, which breaks down the common Case Study interview question types.In addition to these frameworks, there are a number of other frameworks that you will read about on certain Consulting firm sites, but you will probably not be expected to know them in detail or apply them specifically in an interview.