Ace Your Case at a Glance. . Luxury Class: Porter's Five Forces, Firm Analysis, Financial Analysis .. The goal of consulting is almost never just analysis. This edition of the Ace The Case interview guide was created to help you, . A simple way of executing a case analysis is a simple and common method of . IV: Business Strategy Questions, and Ace Your Case® V: Business Operations .. the analysis would require you to estimate the market potential—that is.
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This guide is designed to be a companion volume to Ace Your Case!, Ace Your .. As a candidate, you should be sensitive to the fact that your analysis must. Book ID: OHCBj8FNb73uUG4 | Book PDF [DOWNLOAD] Ace The Case FREE. Fastmath ace the case preplounge com, amicus brief to the supreme court trump . Editorial Reviews. Review. Erin and Destin have created a refreshingly no- nonsense guide to consulting interview prep. With a structured, step-by-step plan and.
What are the future predictions about the market?
In these cases, you want to know: What exactly is the product? What does it do? What is it mainly used for? Has there been a change in the way it is being used? What is the lifecycle of the product?
Is it still in the development phase or about to become outdated?
Who are the customers? How are they segmented? What do they need? Has the need changed recently e. What is the price of the product? How is the price compared to competitors? How is the product being promoted? Has a competitor recently changed its promotion activities?
What are the distribution channels? Is the sales place where the customers are? Have new distribution channels emerged recently? What is the service e. How does it compare to competitors? Has there been a change? Closely related to the industry part: Are there any new technologies or products on the market? What does the product consist of? What are the parts and where are they sourced? For a systematic view, see 4 Ps Framework A key evaluation criterion is your ability to structure a case and being able to adapt the structure throughout the case A good case structure is the most important part of the case.
Based on your structure, you will need to interpret the new information and draw conclusions from it. Try to segment your information until you have isolated the problem. If the problem is not captured by your structure, you will likely not be able to solve the case. Remember to practice setting up a case structure during your interview preparation.
Visit the issue tree lesson to learn how to set up a good structure What the Interviewer expects to see An excellent ability to communicate; i. Structure is a very important part of the case interview. In fact, in most cases when candidates do not get a pass in their interview it is because of their inability to structure the problem. Ideally, you should structure your case based on two categories: Incoming information which you receive and process Outgoing information which you communicate to your case partner To show your interviewer how you structure, you need to display how you receive and process information mentally and how you would express your thoughts to a potential client.
Taking good notes helps in: Understanding the structure Remembering the structure Refering to the structure when required Your interviewer will usually not give you all the information that is necessary to solve the case.
To be able to spot missing data and be organized, use the following approach: Gather information Organize information and make conclusions Support conclusions with data analysis For all three tasks, use a different sheet of paper and never write on the back of these sheets. During stressful situations such as a case interview, you run into a high risk of losing track where the information is if you cannot see everything on one side of the sheets.
The following examples show how the system applies in practice while taking notes: 1. Gather information You gather information and take notes only at the beginning of the case. Organize information and make conclusions This step is extremely crucial organizing initial information and interpreting it. Here, you would want to build a framework for your approach and structure your hypotheses using an issue tree.
Start testing your hypotheses based on your structure and adapt it according to your results whether hypothesis is true or not. Use this particular sheet as a guide whenever you run into dead ends and to keep you structured.
This approach will help you in clarifying your approach to the interviewer and yourself at every step of the analysis because it forces you to regularly make sub-conclusions and recaps.
The number of interviews by round may vary but it is usually between 2 and 4. In total, you will therefore have between 4 and 8 interviews before getting a McKinsey job offer. First and second round interviews are similar in format and difficulty. However, your first round interviewers will usually be more junior than your second round ones.
In theory, McKinsey takes into account your performance at both first and second round interviews when it makes the decision to make you an offer. However, in practice, your performance during the second round carries a bigger weight simply because Partners will have a stronger voice when the recruiting group will get together to make a final decision on your application. It is therefore particularly important that you do well at your second round interviews.
Your interviews will usually last between 45 and 60 minutes and consist of two parts:. The PEI part of your interview will last about ten minutes.
The good news is that the topics on which you will be assessed are very predictable. For instance you could be asked: Our recommended approach to prepare for these questions is to craft a story for each of the four skills McKinsey will test you on. You can then use and adapt these stories depending on the exact question your interviewer will ask. There are different structures you could use to tell your story but we recommend keeping it relatively simple:.
First, a lot of candidates spend too much time on setting the context when telling their story. Second, some candidates forget that the question is about them. They should therefore focus on what they did, what their impact was on the situation they are telling their interviewer about. When you craft your four stories you should keep these common pitfalls in mind and try to avoid them. For more details and example answers, you should read the following blog post on how to impress your interviewer when answering Personal Experience Interview questions.
In this part of the interview, you will be presented with a business case about a company facing an issue. For instance, your case could focus on an industrial facility facing a profit challenge, or a company that needs help to make a strategic decision on a new product.
Cases are usually a simplified version of real projects your interviewer worked on in the past. Your interviewer will tell you about the situation the company is facing and will ask you questions about the situation.
She may also provide you with documents such as graphs and tables with figures about the company. You will be allowed to use scrap paper to structure your thoughts and perform calculations. However, you will not be allowed to use a calculator.
You will then be asked to solve one or several quantitative questions that will help further investigate the problem faced by the company and draw some initial conclusions. In addition, at some point during your interview, you will be asked a creativity question. Finally, at the end of the case, your interviewer will ask you to make an overall recommendation for the company based on the analysis you have just carried out.
Although the format and order of questions may vary from one case to the next, you will almost invariably come across these types of questions during your McKinsey interviews and should therefore prepare for them.
To find out more about the format of case interviews, you can download our Free McKinsey Case Prep product here. An additional exercise we would recommend doing is to take a look at the different case interviews available on McKinsey's website.
As you go through each case, you should try to map each question to the 5 types of questions we have listed above. All consulting firms use case interviews during their recruiting process.
But McKinsey interviews are different in two regards. First, McKinsey interviewers tend to control the pace of the interview much more than other interviewers. If they feel you spend too much time on one question, they might interrupt you and ask the following question. At other firms such as Bain or BCG, interviewers give you more control over the pace of the interview.
The skills tested in both types of cases are the same but you should expect slightly different behaviours from your interviewers.
Second, there is a lot of competition to get into McKinsey, and your interviewer will probably challenge the quality and logic of your answers more than at other firms. It is almost impossible to crack case interviews without being able to perform maths calculations quickly and accurately. This is because every case interview at McKinsey includes quantitative questions and you will not be allowed to use a calculator to answer questions. When you start preparing for case interviews, it is common to have relatively rusty maths skills.
This initial time investment provides them with the confidence they need to perform calculations confidently in case interviews. We definitely encourage you to make this initial time investment.
In fact, this maths preparation is the first step of the McKinsey Case Interview Training Programme we have put together. As mentioned previously, McKinsey case interviews follow a pre-defined set of questions: It is therefore critical that you learn to quickly recognise these types of questions and that you develop a consistent method of answering them.
On the day of your case interview, these habits will make a huge difference as they will reduce your stress and save you a lot of time and mistakes. At IGotAnOffer, when we were preparing for case interviews, we were frustrated by the lack of consistent method that existed to crack case interviews.
We have therefore developed a method to consistently answer McKinsey case interview questions. Having a consistent method to answer different case interview questions may feel a little mechanical at first. But trust us, if you stick to a pre-defined method you will experience a step-change in your performance that will help you get a job offer at McKinsey. Another key element to succeed at case interviews is practicing in real conditions. If you can practice case interviews with a partner you should definitely do so, that will help you progress faster.
However, when you practice by yourself there still is something you can do to recreate case interview conditions: While this may sound a little awkward at first, in our experience, candidates who have forced themselves to use this technique have progressed much faster than others. When you practice out loud, you should both play the role of the interviewer and the interviewee.
You should ask yourself the questions your interviewer would ask you and then answer these questions out loud as if you were in the interview.