Cracking the Case2

Slide 0Cracking the Case
Agenda
Introductions
How do you approach a case?
Practice
What is a case?
Outline next steps
A case is a hypothetical business issue or dilemma that requires you to:
Copyright © 2004 Deloitte Development LLC. All rights reserved.
What is a case interview?
Relevant to a broad spectrum of employment opportunities (marketing, investment banking, consulting)
A critical component of the recruiting process at many firms
Offer you an opportunity to demonstrate your flexibility, your analytical ability, your experience … and your creativity
Cases are a key part of the interview process
Recent examples of case interview questions
What are the marketing implications of a partnership between ChevronTexaco and 7-Eleven in which the gas would be supplied by Chevron and the convenience store would be managed by 7-Eleven?
What strategy should a regional grocery chain pursue to combat/survive against the imminent arrival of Wal-Mart Supercenters in the region?
What are all the uses you can think of for Hidden Valley Ranch salad dressing?
How would you forecast revenues for Herceptin, a protein-based biotherapy for metastatic breast cancer?
These questions were all asked in case interviews at Kellogg in 2004
What are companies looking for in the case interview?
Problem definition and solution structuring
Analytical ability
Quantitative capabilities
How to crack the case
Understand the issue; ask clarifying questions as needed
Identify and test the underlying assumptions
State your null hypothesis
Use the selected framework to identify key business issues
(Keep your eye on the clock!)
Summarize key issues and findings
Outline your final recommendation and the expected results or impact
Choosing a framework
Choose a framework that fits the problem
Don’t be afraid to create your own framework – as long as it makes sense
A framework provides structure to guide your analysis of the case and helps you to identify a good solution
You will probably need a framework to come up with a good answer to a case question
The key is selecting the right framework for the problem
Competitive strategy
SWOT Analysis (Strengths, Weakness, Opportunities, Threats)
Organizational
Marketing
3 C’s (Company, Competitors, Customers)
Growth / Share Matrix
Cost = Fixed Costs + Variable Costs
Possibly use one of the cases introduced above (slide 5) to demonstrate one or more of these frameworks, either interactively with panelists or with the audience.
Logical structuring is essential
Logic should be MECE
Mutually Exclusive, Collectively Exhaustive
Structure your answer as well as your thinking
Say what you’re going to say, say it, and say what you said
Don’t lose sight of your structure when speaking
Be consistent and convincing in the message you’re trying to get across
Examples of MECE
A fall in revenue?
An increase in costs?
Company
Price
Product
Place
Promotion
Competitors
Price
Product
Place
Promotion
Approach: Practical tips
Think before you speak
Ask questions
You have to know the question before you can provide an answer
Information is generally provided only when it is requested
Be ready to explain the logic behind your question if challenged
The ability to ask intelligent questions is a key professional skill
Approach: Practical tips
Write it down
Show your reasoning
Talk the interviewer through your thought process
You are being evaluated on the process as much as the answer
Chicago Symphony Orchestra
The Chicago Symphony Orchestra experienced a significant decrease in ticket sales for its 2004 Summer Concert Series compared to sales for the past three years. The series is held at the Ravinia Festival Grounds in suburban Highland Park, and has become a Chicagoland tradition. In planning for the Summer 2005 Concert Series, the coordinators have been told that sales for the 2005 Summer Concert Series must increase in order for the series to continue. The coordinators have asked you to determine why sales were down for 2004 and advise them as to how they can ensure a successful and profitable Summer Concert Series for the year 2005.
Chicago Symphony Orchestra: Possible response
1) Understand the issue; ask clarifying questions as needed
What went wrong? What should CSO do in 2005?
2) Identify and test the underlying assumptions
Quality of performance has remained constant Major macroeconomic factors
3) State your null hypothesis
Lack of parking availability has affected ticket sales
4) Select an appropriate analytical framework
Product, Place, Price, Promotion Company, Competitors, Customers
Chicago Symphony Orchestra: Possible response
5) Use the selected framework to identify key business issues
Ease of implementation Extent to which it addresses the problem Level of benefit
6) Summarize key issues and findings
Offer a shuttle service from various central locations Create partnership with local transit to offer discounted or free transportation Expand METRA service from Chicago and other key cities
7) Outline next steps and your final recommendation
Who to contact How to implement What’s the timeline
Feedback
Analytical ability
Quantitative capabilities
Confidence
Evaluate Atlanta Symphony orchestra case answers based on criteria laid out at beginning of presentation.
Kellogg Premium Water
You have just been named Brand Manager of Kellogg Premium Water. Your sales are declining. What would you do to reverse the trend?
Students solve this case in pairs or small groups
Kellogg Premium Water: Possible response
Is the decline driven by a general category decline or a share decline for Kellogg Premium Water?
Why is share or category declining?
Substitutes
If category is declining, determine strategy to increase category usage
If share is declining, determine why (explore 4Ps):
Price – Has price changed relative to competition?
Product – Has the quality of the product changed? Are there any competitive product upgrades/new products?
Promotion – Have my promotions/advertising changed or decreased? Any new competitive promotions/advertising?
Placement - Have I lost any distribution? Have competitors gained distribution?
Case interviewing: Do’s
Listen to your interviewer, take your time and make sure you understand the question
Ask questions to gather background information
Develop an approach and a hypothesis and bounce questions off your interviewer to test them out
Show the interviewer what you’re thinking – talk through your thought process
Once you have identified some underlying problems, formulate recommendations and be prepared to defend them
Finally, when closing your answer, define the problem, actions you would take, why you would take them, and the expected results
Case interviewing: Don’ts
Don’t make assumptions without clarifying with the interviewer
Don’t worry about the right answer, worry about the right approach
Don’t explicitly or exclusively rely on canned frameworks
Don’t appear flustered or frustrated
Questions?
Contact information

Cracking the Case2

Documents

Transcript of Cracking the Case2