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

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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

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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

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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

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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

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§  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

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§  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

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§  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

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•  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

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•  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

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§  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

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Case Practice #2: Full Speed Ahead p. 150 - Case in Point7

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Additional Case Practice: Full Speed Ahead p. 150 - Case in Point7

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Key Takeaways - Increasing Sales

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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