It is currently 21 Aug 2017, 10:49

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Case Interview - Candidate Led - End To End Case Interview Secret

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Intern
Intern
avatar
Joined: 06 Oct 2014
Posts: 6

Kudos [?]: 0 [0], given: 0

Case Interview - Candidate Led - End To End Case Interview Secret [#permalink]

Show Tags

New post 07 Nov 2014, 02:58
A good page to learn about Case Interview McKinsey

Candidate-led cases are interesting but also very difficult especially for beginners. I personally really like these cases because it represents very well how an actual consulting project works and the role of the engagement team in it.

So rather than talking specifically about how a candidate-led case works, let me introduce you to the LOGIC behind management consulting “Problem Solving Test”. It’s ironic that many experienced candidates, having practiced 20 30 cases, actually don’t grasp this very well. That’s why even with that much practice, they can still struggle in certain cases and still feel like they need even more practice.

Well, practice is good, but only when you have mastered the basics. So here we go: the core logical foundation of how management consultants solve problems. We talked a little bit about this in the Case Interview 101 video but here is the much more in-depth explanation. To make this as easy to follow as possible, I divided the whole concept into bite-size elements with numbers.
Element No.1: The problem has to be defined

Element No.2: To solve a big problem, we – management consultants don’t look for solutions right away. Instead, we try to find the ROOT-CAUSE. This ensures us to completely eradicate the problem and to have a long-lasting impact.

Element No.3: There can be millions of possible root-causes. To effectively and efficiently find the right one, we use a top-down and MECE approach. This is called an “issue tree”.

Element No.4: In order for each branch to exist in the issue tree, there HAS to be a chance that the Root-cause is in it. Or in other words, for every branch, there must be at least one hypothesis associated with it.

Element No.5: Now assume we have a structured, MECE, and hypothesis-based issue tree. Pick the best hypothesis, or, in other words, choose a big branch to begin with. Then test if the root-cause is in there.

Element No.6: Depending on each case, different methods are used to test hypotheses. But generally a powerful tool is to use benchmarks. Two main types of benchmarks are historical and competitors’ data.

Element No.7: If data suggests that the root-cause is indeed IN the testing branch, go down one level deeper and repeat the same process: breaking down the branches into sub branches in a MECE, hypothesis-driven way and test each sub-branch using data. See case interview examples and answers

Element No.8: At any point where the data suggests that the root-cause is NOT in the testing branch or sub-branch, move to a parallel branch or sub-branch on the same level.

Element No.9: Keep doing this until the whole issue tree has been covered or until the interviewer would like you to switch gears.

Element No.10: Lastly, once you have identified one or many root-causes, think of solutions to fix them!
In theory, the above approach always works. But the following two conditions must be met.
Condition No.1: each and every single part of the issue tree must be perfectly MECE.
Condition No.2: the issue tree, or in other words, the breakdown must somewhat properly isolate the root-cause.
A few tips to meet those conditions:
(1): Make sure you understand the concept of MECE really well. Please refer to our MECE video for more detail.
(2): Try to improve your business intuition in order to be able to pick good frameworks or correctly draw spot-on issue trees. We devoted a whole eBook in our End-to-end program for this.
(3): Most importantly, develop the habit of aligning with the interviewer. No matter how good you are with the two tips above, there will always be cases that are hard to be MECE inside out and hard to draw frameworks that are spot on. The interviewer is actually a great resource you can use.

You should use Case Interview End-to-End Secrets Program http://mconsultingprep.com/case-interview-end-to-end/ for exclusive practice cases and insightful tips!
Source: http://mconsultingprep.com/

Kudos [?]: 0 [0], given: 0

Case Interview - Candidate Led - End To End Case Interview Secret   [#permalink] 07 Nov 2014, 02:58
    Similar topics Author Replies Last post
Similar
Topics:
Case interview preparation edwardo 2 07 Sep 2011, 23:19
Case Interview Prep - This Weekend nirvana 0 29 Oct 2009, 11:08
Gmatclubbers - case interview prep Ozmba 0 20 Oct 2008, 19:37
1 Case Interview Practice Sessions GMATobliterator 18 03 Aug 2013, 12:48
7 Introduction to the Case Interview GMATT73 7 27 May 2010, 11:08
Display posts from previous: Sort by

Case Interview - Candidate Led - End To End Case Interview Secret

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


cron

GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.