Case Interview Workbook - Technology
Case InterviewWorkbook - Technology
TABLEOFCONTENTSWhat is a Case Interview?3Common Misconceptions About Case4Interviews Case Interview Success Factors5The Case Interview Process: Structured Problem6Solving Clarify the Problem7Decompose the Problem8State Hypotheses and9Develop Test HypothesesSummarize and CommunicateFindings Types of Cases“The GreatUnknown” “TheParade of Facts”“The Back of the Envelope”Samples Frameworks andApplication Putting it Together2 Case Interview Workbook1011131416182021
WHATIS A CASEINTERVIEW?A case interview is a type of jobinterview, used most frequentlyby consulting firms, that allows anapplicant to demonstrate his/her abilityto solve a given business problem.During a case interview, an interviewerpresents a situation or case and thenasks the applicant to explore theunderlying causes of the problem andsuggest recommendations to remedythe problem.The cases given tend to be real businesssituations, often drawn from theinterviewer’s actual project experience.Case interviews typically last from 45to 60 minutes, with a focus on the caseitself lasting 30 to 45 minutes.Your success in a case interview willnot depend on identifying the “correct”answer, but rather on how clearly youdefine the problem, how logicallyyou structure your analysis, yourquantitative analysis skills and how wellyou communicate your thoughts tothe interviewer.3 Case Interview WorkbookConsulting firms are looking for peoplewho can show problem solving andbusiness analysis skills, think underpressure and maintain a professionalpresence with their teams and theclients. A case interview providesexcellent insight into how well youwould perform in a consulting situation.The purpose of this guide is to helpfamiliarize you with the process of acase interview, introduce you tosome potential methodologies, andprovide you with sample cases topractice. Learning about caseinterviews is also a helpful way todetermine if strategicconsulting is right for you, as thesecases reflect the types of businesssituations and structured thinkingconsultants encounter on a daily basis.
COMMONMISCONCEPTIONS ABOUTCASE INTERVIEWSTHERE ARE MANY MISCONCEPTIONSABOUT THE CASE INTERVIEW AND WHATTHE INTERVIEWER IS LOOKING FOR.MythThere is oneright answer orapproach to the caseThe interviewerexpects you to getthe right answerIndustry knowledgeis required to dowell on the caseFactUsually thereare several credibleapproaches and solutions4 Case Interview WorkbookThe interviewerexpects athoughtful,structured responseThe interviewer expectsyou to be effective withthe knowledge you haveand make hypothesesbased on soundcommon sense
CASEINTERVIEWSUCCESS FACTORSCASE INTERVIEW SUCCESS DEPENDS ONPROVIDING A THOUGHTFUL ANDSTRUCTURED RESPONSE TO THE CASEPROBLEM. Understand the case situationand what is being asked Listen for suggestions and hintsfrom the interviewer Analyze the case issues andpotential solutions in a structuredmanner Make certain your thoughtprocesses are transparent to theinterviewer Be creative, yet practical—use yourbusiness judgment and givespecifics Engage the interviewer—it is okayto ask for direction andclarification Manage time effectively—maintainyour momentum, don’t getbogged down on one point Take notes Make sure you arecommunicating clear andlogically5 Case Interview Workbook Identify critical focus areas andask probing questions to learnmore
THE CASE INTERVIEWPROCESS: STRUCTUREDPROBLEM SOLVINGLISTENTO CASECLARIFYPROBLEMDECOMPOSEPROBLEMA case study interview is quite similar toa consulting situation. First, you will begiven a description of a case problemby the interviewer. This description maybe as short as one sentence or as longas a page of detailed information. Oncegiven the case description, you will needto understand the problem by asking theinterviewer well thought out questions.The answers to these questions shouldallow you to align on the objectivesand expectations before developing anapproach (framework) that you can useto analyze the situation.6 Case Interview INGSAfter you lay out the framework forthe interviewer, you should discussthe analyses you would perform todetermine potential solutions to thebusiness problem. The interviewer mayask you to perform simple analyses totest your hypotheses.Finally, you should summarize yourmethodology with any recommendationsyou may have as well as addressingrisk factors.
CLARIFYTHEPROBLEMLISTENTO ESTHYPOTHESESSUMMARIZEFINDINGSGoal: Articulate Key Case ProblemAsk clarifyingquestionsSummarize issuesfor discussionActivities:Probe for additionalAssessinformationcase factsConfirm objectivesand expectationsIn consulting, understanding the clientsituation is fundamental to developingsolutions to important problems as wellas recommendations for how a businesscould be run more effectively. A caseinterview models this by presentingyou with information, asking you to makesense of it, and develop potentialsolutions. Clarifying the nature ofthe business issue (e g , decliningprofitability, loss of market share, or newcompetitive threats) is an important step.7 Case Interview WorkbookPause to structureyour thinkingDocument andconfirmassumptionsBased on your questions, the interviewerwill often provide you with more detailsabout the case. By structuring yourquestions, you will cue the interviewer tohow you plan to work through theproblem. It is important to be flexiblein your approach and open to multiplesolutions If the questions you are asking donot yield useful answers, try switching toan alternate approach. Remember, you arealso being evaluated on your ability to askinsightful questions.
DECOMPOSETHEPROBLEMLISTENTO ESTHYPOTHESESSUMMARIZEFINDINGSGoal: Identify Root Causes of ProblemActivities:Break the problem into its component parts in a structured mannerOnce you have stated and clarifiedthe problem, you need to decomposeit in an exhaustive, logical manner.By using an issue tree, you can breakthe problem into smaller pieces andillustrate logical relationships among thecomponent parts.Basic issue trees arestructured as follows:Problem(e.g. decliningprofitability)Issues/Causes(e.g. decliningrevenues)Issues/Causes(e.g. increasingcostss)8 Case Interview Workbook To develop a good issue tree, youshould ensure that the subcomponentsare linked in a logical manner, thatit prioritizes the issues, and that itreveals possible solutions. Also, eachbranch of the tree must not overlapwith another (mutually exclusive),and the branches should thoroughlyrepresent contributing elements(collectively exhaustive).
STATEHYPOTHESESAND DEVELOPLISTENTO ESTHYPOTHESESSUMMARIZEFINDINGSGoal: State Hypotheses/Potential SolutionsReview problemdecompositionActivities:Identify potentialhypotheses/solutionsState yourassumptionsChoose appropriate framework to test hypotheses(See “Sample Frameworks and Applications” section) for example:Porter’s Five Forces, 4 P’s of Marketing, Profitability Analysis, Three“C’s”Once you are confident you understandthe problem, you should list outpotential hypotheses that may resolvethe core problem. You will then need tochoose a framework (or analysis tool) tostructure your hypotheses (see “SampleFrameworks and Applications” section),but do not feel constrained by these9 Case Interview Workbooksince many cases will not fit neatly intoone of those frameworks. The frameworkis a key to structured thinking—it allowsyou to approach a problem in a holisticmanner, while directing your analysisto each of the components withinthe framework.
TESTHYPOTHESESLISTENTO ESTHYPOTHESESSUMMARIZEFINDINGSGoal: Apply framework to Test HypothesesDescribe analyses tobe appliedActivities:Break problem into itscomponent parts in astructured mannerApply framework and discussfindings/implications tosolution definitionIf you find that your analyses are notOnce a framework is selected, you mustconfirming your initial hypotheses,analyze each component of thedevelop new ones If your analyses do notframework in a logical manner. Discussappear to be enlightening, the interviewerthe analyses you would perform tomay direct you towardsdetermine if your initial hypotheses areanother path. Take advantage of thesetrue. You may have to ask additionalhints if they are offered.questions of the interviewer to get theinformation needed to develop theseAnalyses. Often times, you may be asked toperform an analysis with simple datasupplied by the interviewer.10 Case Interview Workbook
SUMMARIZE ANDCOMMUNICATEFINDINGSLISTENTO ESTHYPOTHESESSUMMARIZEFINDINGSGoal: Summarize Findings/ImplicationsSuccinctly remindinterviewer of issuescoveredActivities:PresentsolutionsFinally, summarize the framework andanalyses you utilized in the case andcommunicate effectively thosefindings. Suggest recommendationsfor the client and potential next stepsthe client should take. The interviewermay tell you what happened with thereal project situation on which the casewas based. However, don’t worry if yourmethodology or answer did not matchthe real project situation because youare being evaluated on your thoughtprocesses and not against somepredetermined answer.11 Case Interview WorkbookPresent alternativescenarios
“SOFTEVALUATIVE”CRITERIAIn addition to your ability to ask probing questions, decomposethe problem, define the preferred analysis framework and performthe analyses in the case, you will also be evaluatedon many intangible qualities. While interviewers look at thesecriteria in non-case interviews as well, you will need to be extraconscious of them in a case interview, since often times yourconcentration will be on solving the case.PoiseFlexibility Are you confident in your answer? How do you handle yourself whenyou make a mistake? Do you perform well under pressure? As situations change and newinformation becomes available, are youable to adapt your thinking to new dataor an emerging environment?CommunicationOther Intangibles Are you articulate in communicatingyour thought processes andconclusions with others? To be a successful consultant, youmust be able to clearly communicateyour recommendations and articulatehow you were able to arrive at your conclusions Listening skills: are you leveragingall the information/data provided bythe interviewer12 Case Interview WorkbookDo you display energy and drive?Do you show initiative?Do you manage time effectively?Do you demonstrate decisiveness?Do you convey a genuine interest inthe career and the firm?
TYPESOFCASESTHERE ARE THREE GENERALTYPES OF CASES:The“Great Unknown”The“Parade of Facts”The“Back of the Envelope”Provides very littleinformationProvides a significantamount of detail—some unnecessaryProvides little information,but asks a key questionTests candidate’s abilityto probe for additionaldetailsRequires structuringframework based onnew factsTests candidate’s abilityto distill key issuesRequires depth of analysisbased on relevant factsThe “Great Unknown” and “Back of the Envelope”cases are the most common types of cases. However,regardless of the type, be sure you have a solidunderstanding of the facts and what is being asked ofyou before you begin to “crack” the case.13 Case Interview WorkbookTests a candidate’sanalytic abilitiesRequires logical thoughtprocess and ease withnumbers
THE“GREATUNKNOWN”One of the most common types of caseinterviews poses the situation in one ortwo sentences, leaving you with littleinformation or structure on which tobuild.These cases are used often because theytest your ability to discover necessaryfacts by posing the rightquestionsand being able to develop analyticalframeworks to solve the problem.Potential Methodology:Case DescriptionListen carefully and determine thecentral business problem being asked.Problem DecompositionIdentify and prioritize root causes ofthe problem by breaking the problemdown into its component parts. An issuetree is a valuable tool to ensure thatdecomposition is exhaustive and that thesub-components are linked together in alogical manner.Problem UnderstandingConsider the central problem Whatadditional facts do you need to fully clarifythis problem? What are the crucial piecesof information that willallow you todevelop a framework around this problem?14 Case Interview WorkbookWrite those questions out and ask theinterviewer. Be prepared to go severallayers deeper into the issue as theinterviewer’s answers may lead you toadditional questions.Hypotheses and FrameworkDevelopmentDescribe to the interviewer what some ofthe potential issues/hypotheses could be.Then choose a framework that willstructure your thinking and guide youthrough testing the issues/hypotheses.Hypotheses TestingUsing the framework selected, explore theissues/hypotheses initially laid out.Describe the factors in each section of theframework that are relevant to the centralproblem. Also list out analyses to test thehypotheses in each section of theFramework. By asking additional questions,you may still yield more information aboutthe case from theinterviewer.Case SummaryReview your initial issues/hypotheses inlight of your structured analyses andsuggest possible recommendations forthe client.
THE“GREAT UNKNOWN”CASE EXAMPLEInterview Example:Potential Methodology: The client, a leading manufacturer ofprefabricated kitchen furnishings, hasbeen steadily losing market share overthe last two years.Problem Understanding Has the size of the market changed inthe last two years? The senior executive team would likeyou to help them understand why andwhat they can do to improve theirmarket standing. Has the competitive structure of theindustry changed? Mergers andAcquisitions? New Entrants? Are there any new products or newtechnologies that are gainingmarket share? How are we currently positioned (lowcost, high quality, etc )? What is ourcompetitive advantage?15 Case Interview Workbook
THE“PARADEOF FACTS”These cases are relatively rare becauseof the amount of time necessary topresent the case description, but canalso be one of the more challengingtypes of questions. You will be givenmore information than you need in thecase description, and one of your keytasks is determining which facts arerelevant to the client’s business problem.Consultants are often faced with adeluge of details, and the ability to sortout the crux of a problem is a key skill forwhich firms are looking.While most of our process steps aresimilar to “The Great Unknown,” how weunderstand the central issue and probefor insight differs.16 Case Interview WorkbookPotential Methodology:Problem UnderstandingPause for a moment and consider thecentral problem. Which of these facts aretotally irrelevant? Eliminate them for nowWhich facts are definitely related to theproblem? Ask questions about facts thatappear relevant.Probe for additional facts that theinterviewer may have.
THE“PARADE OF FACTS”CASE EXAMPLEInterview Example:Potential Methodology: Client is a leading food company thatwants to develop a fresh preparedmeal business Trend among consumers is towardfresher food with no artificialpreservatives or coloring Key Problem: Profitability of Businessand Size of Market Consumers are currently purchasing 5 0 billion of frozen meals—trend istoward more upscale products A fresh meal plate combining aprotein, vegetable and starch isdelicately arranged in a sealed plasticdome package Nitrogen gas flushing is used toextend shelf life Product is currently in limitedconsumer test at 5 50 to 8 50per meal Shelf life of product is 14 days—product will spoil in 21 days potentiallycausing food poisoning Client wants to know if they can makemoney in this business Client wants to know if the marketis big—how will they keepcompetition out Client wants a consultant to assist inbuilding business case17 Case Interview Workbook Problem Understanding: Ask about consumer test Whatprices are consumers respondingto? Are there any items spoiling onthe shelf? What is the competitive structureof this market currently? What are the components of thecompany’s cost structure? Structure Analysis: What is the break-even point forthe firm?123 Determine Gross Margin per UnitDetermine fixed costsDivide to find break-evenEstimate the size of the market (acase within a case) Determine the market share theywill need to break-even Develop Recommendations: Discuss the competitive structureof the market Can the firmrealistically achieve the break-evenmarket share?
THE“BACK OFTHE ENVELOPE”“The Back of the Envelope” questionsare very different from other typesof cases in that they are primarilynumerically driven. You will be askedto estimate the number of someeveryday item in society. Theinterviewer is not looking for a randomguess, but rather a structured thoughtprocess to get to a numerical answer.These types of questions not only testyour comfort level with numbers, butalso force you to create your ownframework to develop a numericalanswer.There are often several different ways toapproach these problems, and all ofthem are correct as long as they areinternally consistent and holisticallystructured to arrive at a logical answer.Problem UnderstandingRather than asking probing questions,take a moment to think about the stepsyou would need to take to get to ananswer. What assumptions will you haveto make along the way?18 Case Interview WorkbookFramework Development andNumerical AnalysisWalk the interviewer step-by-step throughyour framework, calculating the numbersfor him as you go. You will need to beginwith some assumption about thepopulation (of people, objects, etc ) andwill need to make other assumptions atcertain points throughout the case.Don’t be afraid to make too manyassumptions, but be certain that theyare needed and that you can explainwhy you are making that assumption.Often, you will hit a “dead end” in yourthinking If you find yourself in a situationwhere you don’t know how to proceed,you should back up several steps in youranalysis (make sure you communicate thisto the interviewer) and pursue analternative path.
THE“BACK OF THE ENVELOPE”CASE EXAMPLEInterview Example: Estimate the total number of drycleaners in PhiladelphiaPotential Methodology: Assume there are two million peoplein Philadelphia Estimate the size of market bysegmenting the population Assume the population consists of25% adult men, 25% adult women,and 50% children Assume children have no drycleaning and only 25% of adults usedry cleaning Estimate the average numberof “units” of clothing each manand woman brings weekly to thecleaners For this case, assume that3 shirts/ blouses and 1 suit arebrought to the cleaners each week Thus the total size of the market(per week) is one million units ofclothing (1 million people x 25% x4 units per person)19 Case Interview Workbook Estimate the average number of units adry cleaner can handle per week Assume that the average drycleaner has two workers whotypically handle 20–30 customers(or 80–120 units of clothing)per hour If the average dry cleaner is openeight hours a day, 5 days/week,they typically handle 3200–4800units per week (80–120 unitsx 8 hours x 5 days) Divide the total market size by theaverage units handled per drycleaner to find the total number ofdry cleaners There are between 208 and 312dry cleaners in Philadelphia
SAMPLEFRAMEWORKSAND APPLICATIONIn the preceding section we outlinedseveral types of case “formats” youare likely to encounter throughout theinterviewing process. However, thisdoesn’t describe the actual content ofcases or the problems and issues youwill be asked to consider. There are manydifferent categories of business issues orproblems that can be presented within acase interview and oftentimes
Sep 13, 2018 · 3 Case Interview Workbook A case interview is a type of job interview, used most frequently by consulting firms, that allowsan applicant to demonstrate his/her ability to solve a given business problem. During a case interview, an interviewer presents a situation or
3 Case Interview Workbook A case interview is a type of job interview, used most frequently by consulting firms, that allowsan applicant to demonstrate his/her ability to solve a given business problem. During a case interview, an interviewer presents a situation or
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interview (Section 1), opening the interview and providing information (Section 2), conducting the interview (Section 3), including guidance regarding the substance of the application which needs to be explored during the interview (Section 4), and concludes with closing the interview and post-interview actions (Section 5).
The business case is a key feature of the interview. Mastering the case interview is essential to succeed in the consulting interview. Start Behavioral Interview End 15 - 20 min Business Case 20 - 25 min Q&A 5 min Better understand candidate’s background and goals Determine
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