1、 r 3rd Edition The Folger Building101 Howard StreetSuite 300San Francisco,CA 94105Phone:(415) 284-7900 or 1-800-926-4JOBFax:(415) 284-7910Website: www.WetF r ISBN:1-58207-472-0Photocopying Is ProhibitedCopyright 2004 WetFeet,Inc.All rights reserved.This publication is protected bythe copyright laws
2、ofthe United States ofAmerica.No copying in any form ispermitted.It may not be reproduced,distributed,stored in a retrieval system,ortransmitted in any form or by any means,in part or in whole,without the expresswritten permission ofWetFeet,Inc. Overview. . . . . . . . . . . . . . . . . . . . . . .
3、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4The Case Interview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Market-Sizing Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4、. . . . 16Business Operations Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Business Strategy Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23Resume Cases. . . . . . . . . . . . . . . . . . . . . . . .
5、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Market-Sizing Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30Business Operations Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34Business Strategy
6、 Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44Resume Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 Market-Sizing Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7、 . . . . . . . . . 59Business Operations Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71Business Strategy Case Questions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91Resume Case Questions. . . . . . . . . . . . . . . . . . . .
8、. . . . . . . . . . . . . . . . . . . . . . . . . 111Tips from Case-Interview Survivors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122 Heres a summary ofthe different types ofcases youll find in this report,along with some rules that should help you ace your answer. Use rou
9、nd numbers. Show your work. Use paper and calculator. Isolate the main issue. Apply a framework. Think action. Think frameworks. Ask questions. Work from big to small. Know your story Keep the Parent Test in mind. Let your excitement shine! Dont be afraid to ask questions. Slow down. Structure your
10、thoughts.1 3So,youve scoured the Ace Your Case! Insider Guide from WetFeet,youveattended four company presentations on cracking the consulting case,and youstill think you need a little more practice before youre ready to start slam-dunking those consulting interviews.Good thinking! Iftheres one thin
11、g wehear again and again from consulting recruiters (and candidates),its thatpractice (and preparation) makes perfect.In this Insider Guide youll find anumber ofpractice case questions designed to help you hone your case inter-viewing skills to a razor-sharp edge.One good sign:ifyouve already spent
12、a lot oftime polishing your case-crackingskills and you still want more practice,youre showing symptoms ofbeing a trueconsultant.We ve been impressed by the number ofconsultants who confessthat they actually liked the case question portion ofthe interview process.Afterall,ifyoure well-prepared and y
13、ou like testing your hand at tough businessproblems,the case question will prove an excellent opportunity to differentiateyourselffrom all the other consultant wannabes in line behind you.Besides,ifyou really do like the case questions,theres a good chance that youll really loveconsulting work.Ace Y
14、our Case II: Fifteen More Consulting Cases is designed to be a companionvolume to Ace Your Case! It offers more detailed explanations about differentcase types and more sample questions.We ve also incorporated informationfrom you,our customers,about what youre hearing in the cubicle.Many ofoursample
15、 case questions here are based on real case questions that people fieldedin recent interviews.4For those who havent seen our other guide, Ace Your Case! discusses the consult-ing interview in general and offers a primer containing a number ofcommonframeworks and B-schooltype tools (watch out for the
16、 4Cs and 4Ps,not tomention the infamous Five Forces!) that should help you attack your case ques-tions.In addition, Ace Your Case! contains seven specific case questions anddetailed recommended answers.A word about how to use this guide:We strongly recommend that you try tosolve the questions first,
17、without looking at the answers.After youve giventhem your best shot,go ahead and check out our recommended answers.Ifyou find that our good answer differs from yours,see iftheres something youcan learn from our suggestions.But dont panicthere are usually numerousways to answer any case question.Its
18、far more important to note the approachand the likely responses from the interviewer.Look particularly for differentways the interviewer structured her responsedid you use a different frame-work? Why? As you sharpen those skills,keep thinking to yourself, I love thesecase questions! Pretty soon youl
19、l find yourselftalking like a consultant!5 Many management consulting firms,especially the strategy firms (McKinsey,The Boston Consulting Group,Bain,Mercer,et al.) love to give prospectiveemployees a problem to solve during the course ofthe interview.These problem-solving exercises,known generally a
20、s case questions,are designed to help theinterviewer screen candidates and determine which people really have what ittakes to be a real,live,card-carrying management consultant.For better or worse,case interviews are likely to be the primary criteria on which you are judged.Case questions come in ma
21、ny forms and levels ofcomplexity.To help you get ahandle on them,we have identified four categories ofquestions: Market-sizing questions Business strategy questions Business operations questions Other questionsEach ofthese types has certain distinguishing features,which we discuss below.In addition,
22、our insiders recommend certain rules ofthe road that should helpyou successfully navigate the different types ofquestions.Dont worryyoullnever be asked to spit out a category name and serial number for the questionsyou receive in the interview cubicle.Nevertheless,ifyou can identify the typeofquesti
23、on,you will have a better idea about how to effectively attack theproblem.6 It may seem as ifyour interviewer is using the case technique for one purposealone:to humiliate prospective consultants.Although a few interviewers doseem to take a perverse pleasure in watching candidates writhe,this isnt t
24、heprimary goal ofthe case question.Rather,our insiders tell us that case questionsreally do help them evaluate a candidates aptitude for consulting.What doesthat mean exactly? Whether youre an undergrad,an MBA,or a PhD,consultinginterviewers will likely depend on the case questions to check you out
25、on thefollowing dimensions: Structured thinking Analytical ability Intelligence Ability to not break into hives under pressure Common sense Ability to think on your feet Interest in problem solving Business intuition Facility with numbers Presentation skills Communication skills Ability to sort thro
26、ugh information and focus on the key points Ability to analyze and then make recommendations based on the analysis Creativity EnthusiasmBefore you bid all your points to get an interview with name-your-consulting-firm,we recommend that you spend some time thinking about how consulting7fits you.In pa
27、rticular,you must have good answersto two questions:Why do you want to be a consult-ant?And,why do you want to work for this firm?Ifyou have good answers to these two questions,then youre ready to start thinking about cases.Westart by discussing the case interview as it relates toseveral categories
28、ofcandidates:undergraduates,MBAs,advanced-degree candidates,and experienced hires.Consulting interviewers tell us that the case questions and the expected answersfor undergraduates tend to be simpler and more understandable than those forMBA students.Market-sizing questions are very popular (you wil
29、l almost certainlyget at least one ofthese),as general business strategy problems.In the businessstrategy area,the companies and the topics may also seem a little friendlier;youremore likely to get a case about a beer company than about a company tryingto license the latest packet-filtering technolo
30、gy for data encryption.Operationsquestions (with the exception ofthe ever-popular declining profits question)are less common for undergraduates,and resume questions will more likelyfocus on academic or extracurricular activities than on work experiences.Itsalso common for an interviewer to ask under
31、graduates questions that are rele-vant to their backgrounds.Interviewers tell us that they often provide more prompting to undergraduatecandidates during the interview.In evaluating your answer to a question,onlythe most sadistic interviewer would expect you to regurgitate all the standard B-school
32、terminology and techniques (after all,how else could the companyjustify paying MBAs the big bucks?).But beware:rank amateurs are definitelynot welcome.Thus,you must have a general understanding ofbasic business8Try to make theinterview more ofa dialoguebetween equals.Try to have fun. relationships (
33、e.g.,revenues costs = profits),but dont get your knickers in atwist ifyou cant name even one ofthe Five Forces.(No,McKinsey is not oneofthe Forces.)Here are a few real live case questions fielded by our undergraduate customers: Your client,a tire manufacturer,is evaluating entry into a new market:th
34、emarket for four-wheel drive vehicle tires.How do you estimate the size ofthe market? Whats the weight ofthe Statue ofLiberty? Ifa publishing company wanted to start a new interior decorating magazine,what would it have to think about? Ifyoure working for General Mills,and Kelloggs introduces a freq
35、uent-buyer program,should you follow suit? A mustard company is for sale.Should Heinz buy it?MBAs have long been the heavy hitters ofthe consulting workforce.As a result,the case interview reaches its most sophisticated and demanding form in theMBA interview.All types ofquestionsfrom the simple mark
36、et-sizer to thegnarliest ofbusiness strategy problemsare fair game.Practically any industryor functional issue area is possible material for the case question.An MBAcandidate will be expected to be familiar with a number ofthe standard MBAframeworks and concepts.Also,the case will possibly have a fe
37、w tricky twistsor turns.For example,what might seem like a pure and simple internationalstrategy question might be complicated by an unexpected restriction related tothe European regulatory environment.Interviewers tell us that most MBAs have a polished interview technique andunderstand the basics o
38、fmany case problems.Therefore,they look for depthin the answer (what they describe as an ability to get several levels down in theanswer) and a real familiarity with business concepts.We understand that at9least some recruiters like to ask resume case questions because they provide anopportunity to
39、get more detail about the candidates background and problem-solving experiences.Here are a few real live case questions fielded by our MBA customers: How many AA batteries are sold in Montana in a year? A bank wants to reduce costs and asks you for advice about closing a specificbranch.What should y
40、ou consider? A wealthy entrepreneur has just bought a baseball team,and he asks you foradvice on how to show increased profits in a year.What do you suggest? A pharmaceutical company is considering changing its sales strategy fromusing a sales force with geographic territories to using specific loca
41、tions.Whatfinancial analysis would you use to determine whether this is worthwhile? Although consulting firms attract mostly MBA applicants,several ofthe topfirms have started to look beyond traditional feeder programs to identify toptalent.According to WetFeet customers and recruiters,the different
42、 firms havevery different approaches to advanced-degree candidates.McKinsey and BCG,among others,have launched aggressive recruiting programs aimed at PhDs,MDs,JDs,and others at the top schools.In the process,some ofthese firmshave created customized recruiting and training programs for advanced-deg
43、reecandidates.Other firms continue to consider advanced-degree candidates on acase-by-case basis,often pitting them against undergraduate or MBAcandidates,depending on their backgrounds.Whether or not you enter a separate recruiting track,we understand from ourcustomers that the format for the inter
44、views is similar to that ofundergraduateand MBA recruiting programs.In other words,expect a heavy dose ofcaseinterview questions along with the general get-to-know-you queries.One slightdifference is that,in addition to seeing whether you can handle the substance of10the case question,the recruiter
45、will also be looking to see ifyou can breakout ofthe PhD box. In other words,can you adapt to the real world andanswer questions without giving too much detail?According to WetFeet customers,case questions for advanced-degree candidatesusually dont require you to carry your own MBA toolbox.Instead,t
46、he questionsmay relate to previous research (resumes provide a popular source ofmaterial),or they may resemble undergraduate case studies that check a persons intuition,common sense,analytical skills,and problem-solving abilities.According to inter-viewers at the firms,they may be more inclined to prompt candidates with ques-tions,and they may be satisfied with a good,solid analytical answer that doesntnecessarily incorporate all the latest business buzzwords.Check out these case
