Practicing Case Interviews

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Practicing Case Interviews

• Undergraduate Management Consulting Association

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Agenda

• Demystify the case interview
• Identify evaluation criteria
• Discuss preparation strategies
• Provide overview of an interview
• Demonstrate an interview
• Small group exercises

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Demystifying the Case Interview

• What is a case interview?
• Definition A scenario-based problem solving
  activity
• Are there different types of case interviews?
• Resume based cases
• Brain teasers or puzzles
• Typical consulting project or project on which
  the consultant is currently working

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Examples of Typical Cases

• Profitability case
• You are the consultant to a company that produces
  large household appliances. Over the past 3
  years, profit margins have fallen 20 and market
  share has tumbled to 15 of the market from 25.
  What is the source of the companys problems?
• Market entry
• A multi-billion dollar consumer brand product
  manufacturer is considering introducing their
  flagship brand into Asia. What would you advise?

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Why are case interviews used?

• Gives firms a sense of how you might approach a
  real consulting case or project
• Enables firms to assess candidate along multiple
  dimensions
• A rich selection tool
• Many companies and industries are moving toward
  more case interviews
• Marketing, I-Banking, Microsoft

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What will they be evaluating?

• Logical/analytical thought process
• Business insight/judgment
• Quantitative skills
• Creativity/inquisitiveness
• Decision making ability
• Communication skills
• Response to pressure/lack of information
• Interpersonal skills

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Sources for practicing case interviews

• Case interview books
• CASE IN POINT, Marc P. Cosentino
• The Fast Track, Miriam Naficy
• Vault Guide to the Case Interview or Wetfeet Ace
  your Case Free on UCSO website
• Consulting firm websites
• Other students
• One-on-one sessions with a coach, contingent upon
  securing a case interview

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Develop a preparation strategy

• Look at online sources
• Be proactive about practicing with other students
• Walk through questions on your own (using the
  worksheet provided)
• Set a target of practicing 40-60 interviews
  before you have a real one!

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Typical interview flow

• Listen as interviewer gives question/case
• Restate/clarify case issues briefly
• Take a minute or two to structure/generate
  hypothesis
• Communicate overview of your road map to the
  interviewer
• Proceed with your questions/analysis and be the
  tour guide along the way
• Take a minute to gather thoughts if necessary
  (but be careful with this as not all firms dig
  it)
• State your recommendation and support it

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Frameworks structure your analysis

• It depends on the question which framework to
  use. For example
• Attractiveness of an industry Porters 5 Forces
• Evaluate a market Four Ps
• Analyze new product introduction or industry
  analysis Four Cs
• Use the framework as a way to structure your
  thoughts.

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Focus on demonstrating two key elements

• Analytical horsepower
• Be a problem solver
• Be structured
• Be transparent
• Communication and interpersonal skills
• Connect with the interviewer
• Show poise, maturity, confidence

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A few dos and donts

• Do.
• Listen carefully
• Be structured
• Ask questions
• Think out loud
• Reach closure
• Connect with interviewer

• Dont.
• Race through the case
• Force-fit frameworks
• Get stuck in analysis paralysis
• Offend the interviewer

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The key to success

• Practice, practice, practice
• And when you think you have practiced enough,
  practice even more!
• Hopefully you can get to the point where these
  are actually second nature and FUN!