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1、NC ZZG001 103198Shimp RC ppt McKinseyCaseInterviewWorkshop FUQUASCHOOLOFBUSINESS October31 TODAY STOPICS CaseinterviewoverviewPurposeTypesSuggestedapproachSuccessfulproblem solving RESUMEANDCASEINTERVIEWS WHATFIRMSARELOOKINGFOR FromyourresumeWorkexperienceAdvancementfasterthannormSelectionbysuperior
2、stoleadimportantprojects specialrecognitionEvidenceofleadershipandteamworkEducationAcademicexcellenceSignificantleadershiprolesPersonalinitiativeOutsideinterestsAthletic culturalachievementsCommunityactivitiesDrive perseverance FromthecaseApproachGenuineinterestinsolvingcomplexproblemsStructured log
3、icalapproachCuriosity creativityLogical probingquestionsSynthesisandconclusionsSkillsComfortwithambiguity poiseunderpressureBroadfunctionalskillsAnalyticalrigorQuantitative numericalagilityPracticalityJudgment commonsenseBusinessacumen instinctClear logicalcommunication EvidenceofExcellence ProblemS
4、olvingAbility TYPESOFCASES Businesscases WhatwilltheimpactofindustryconsolidationbeoncompanyX ShouldcompanyXenter exitanew oldmarket HowshouldcompanyXreacttoanewentrant ShouldcompanyXaddcapacity Estimationcases HowbigwouldtheIvyGardensapartmentcomplexhavetobeforeveryoneonEarthtolivethere Whatisthesi
5、zeoftheskateboardmarketintheU S WhatdoyouthinkannualresidentialrealestatecommissionsareinAtlanta ResponsesshoulddemonstrateBigpictureperspectiveAbilitytostructureBroadfunctionalskillsComfortwithdetails analysisResponsesshoulddemonstrateComfortwithambiguityAbilitytostructureFacilitywithnumbersPoise b
6、uttherearewronganswersIgnoringorforgettingimportantfactsNotrecognizingthatsomematerialmaybeextraneousDefendingimpracticalsolutionsForcefittingaframeworkthatjustdoesnotwork Thereisnorightanswer Thegoalistodemonstrate howyouthink WHATTOREMEMBERWHENAPPROACHINGACASE SUGGESTEDAPPROACHFORCASES WhattodoLis
7、tentointroduction donotthinkaheadtoyouranswersAsk1 2clarifyingquestions ifnecessary takeafewnotesifyoulike donotexpecteverypieceofdatatobeavailableOrganizeyourthoughtsandstructuretheproblemPickonebranchtoprobe develophypotheses askforafewrelevantfacts defend refinehypothesesbasedonnewinformation pro
8、befurther anddescribeimplicationsyouseePickanotherbranchandcontinue Makesureyouareprioritizingyourresponses Putitalltogether trytoanswertheoverallquestion bigpicture withareasonable actionableconclusionReviewwhatyouknowClarifywhatyoudonotunderstandSolidifyandtenderrecommendation WhatnottodoPlay20que
9、stionsAssume1frameworkfitsallCover1issuewithoutmentioningandprioritizingallkeyissuesDigyourheelsinHidefromthedetails orthenumbers GetfrustratedConductapostmortemintheinterview FIVEEASYSTEPSTOBULLET PROOFPROBLEMSOLVING Step1Statetheproblem Step2Disaggregatetheissues Step3Eliminateallnon keyissues Ste
10、p4Conductcriticalanalyses porpoisebetweendataandhypotheses Step5Synthesizefindingsandbuildargument STEP1 STATETHEPROBLEMLEM CharacteristicsofagoodproblemstatementAleadingquestionorfirmhypothesisSpecificnotgeneralNotastatementoffactornon disputableassertionActionableFocusesonwhatthedecisionmakerneeds
11、tomoveforward Interviewerstatestheproblem Problemhasbeenclearlystated andyouunderstandit ProblemhasNOTbeenclearlystated oryoudon tunderstandit Youmustclearlyunderstandtheproblem Paraphrasetheproblemtomakesureyouhaveitright Askquestionstoclarifytheissue Step2 Youareresponsibleforensuringtheclarityoft
12、heproblem STEP2 DISAGGREGATETHEISSUES Whyuselogictrees 1 TobreakaproblemintocomponentpartssothatProblem solvingworkcanbedividedintointellectuallymanageablepiecesPrioritiescanbesetamongthepartsResponsibilitiescanbeallocatedtoindividuals2 ToensurethattheintegrityoftheproblemsolvingismaintainedSolvingt
13、hepartswillreallysolvetheproblemThepartsaremutuallyexclusiveandcollectivelyexhaustive i e nooverlaps nogaps Subissue Subissue Subissue Subissue Subissue Subissue Issues hypothesisNo 1 Issues hypothesisNo 2 Issues hypothesisNo 3 Problemstatement Suggestions Describeyourapproachtotheinterviewerasyoupr
14、oceed Don tassumetheyknowwhatyouarethinking Stateyourhypothesesascrisplyaspossible Onlyuseframeworksiftheyareappropriate don tforcefit Theideasareimportant nottheframework Ithinkweshouldlookatthepowerofbuyersandindustrycompetitiveness isbetterthan I dliketoapplypartofthePorterFiveForcesframework STE
15、P3 ELIMINATEALLNON KEYISSUES WhyFirststepinconstant interactiverefinementprocessFocusesyoureffortonwhatismostimportantDo s Don tsAlwaysaskyourself sowhat butalsoaskyourselfwhatyoumighthavemissedTelltheinterviewerwhatyouarecuttingandwhy Problemstatement Issue1 Issue2 Issue3 STEP4 CONDUCTCRITICALANALY
16、SIS Do sBehypothesis drivenandendproducts oriented Porpoise frequentlybetweenhypothesisanddataKeeptheanalysesassimpleasyoucan Besuspiciousofhugelinearprogramsandtheirilk DoorderofmagnitudeestimatesbeforeyoustartdetailedanalysesUse80 20andback of envelopethinkingDonotbeafraidtobecreative Don tsDonotjust runthenumbers askyourself whatquestionamItryingtoanswer DonotchaseyourtailDoyoureallyneedtocalculatetheWACC Don tmisstheforestforthetrees Bewareof polishingdirt Lookforbreakthroughthinking STEP5 S