CRACKING A BCG-STYLE CASE

McCombs School of Business

The University of Texas at Austin
GSB 3.104

January 23, 2004

9-10:30 am

THE BOSTON CONSULTING GROUP

 TODAY’S OBJECTIVES

Introduce the consulting case interview format

 

•  Objectives
•  Typical structure
•  Evaluation

Mock case simulation and discussion

•  Framing
•  Analysis
•  Conclusions

Case interview preparation tips

 

BCG summer intern recruiting process and contacts

 

Goal: interactive, candid session to help prospective candidates

become positioned for success in consulting case interviews

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -1-

 WHY ARE CASE INTERVIEWS GIVEN?
To Test Two Things

How much will you like How much will consulting

consulting? like you?
Expose candidates to case Give the firm a sense of how
situations and the kind of work you might approach a case
consultants do situation

Firms generally do not expect an extensive business background

•  Most companies try to give cases that do not require business
experience or knowledge of business jargon

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 WHAT ARE CASE INTERVIEWS?
Two Main Types

  How many pencils are sold annually in the United States?

Brain teaser or
How many dogs are there in California?
market sizing
 

(unusual at BCG)
  What are the chances of rolling double sixes three times in a
row?

  A pharmaceutical company is trying to decide whether to

manufacture its drugs in-house or outsource; how would you
Business problem help?
(BCG norm)
  The company that owns Vail mountain has seen a decline in
revenues over the past five years; what should it think about?

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -3-

 THE CASE IS MAIN, BUT NOT THE ONLY
COMPONENT OF THE INTERVIEW
“Typical” Flow of a BCG Interview

1 minute Introduction
Set the agenda

10-15 minutes Open “resume” discussion (education,

employment history, motivations, style)

20-25 minutes Introduce, or “set up”, the case

Discuss relevant aspects of the case
Wrap up the case

4-5 minutes General questions and answers

0-1 minutes Discuss next steps

However, be prepared for variations

in timing and structure
Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -4-
 WHAT DO COMPANIES LOOK FOR?
Not “The Answer”

Creativity Poise Analytics

Apply a unique Appear excited by the Provide structure to

perspective to business kinds of issues unstructured problems
situations consultants face
Break problems into
See the big picture Are not intimidated by components
process or problems
Draw conclusions from Apply transparent,
partial information Assimilate information logical thinking to each
• Make assumptions, see quickly and effectively component
patterns, and generate
hypotheses Ask insightful questions Synthesize discussion
into solution

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 HOW DO I ATTACK A CASE?
Creating a Logical Structure is Key to Success

Framing/organizing •  Ability to identify key issues which he/she needs

to deal with in order to solve the problem
Framing
Prioritizing issues •  Ability to assess the issues, prioritize them and
form a coherent plan of attack

Identifying relevant •  Ability to dig deep enough to find the detailed

Analysis
information information which leads to a meaningful answer

Drawing conclusions •  Ability to use information given and manipulate it

from facts accurately into a logical conclusion
- identify the key displays or data dimensions
needed to reach a solution
- derive relationships among different
Conclusion dimensions of data

Identifying key •  Ability to predict relationships and outcomes

implications and next based on sound reasoning
steps - clear logic to conclusion
- delineation of alternatives

Communication skills tested throughout interview

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 DEMONSTRATION OF CASE INTERVIEWING

Interviewer Interviewee

Three main “components” of a case

•  Framing the problem
•  Analyzing the issues
•  Concluding the case

3-4 minute interview simulation per

section

10 minute discussion and feedback

Will apply to BCGers to highlight tools

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -7-

 INTRODUCTION TO THE CASE

  Our client owns and operates an independent “mom and pop” gas station
•  Sells gas for $1.01 per gallon
•  Operates at break-even profitability

  Exxon opened a gas station across the street twelve months ago
•  Sells gas for $0.91 per gallon
•  Seem to be “blowing and going” based on traffic

  What would you advise our client to do?

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -8-

 DEMONSTRATION OF CASE INTERVIEWING #1a:
FRAMING

Interviewer Interviewee

Discussion and Q&A?

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -9-

 WHAT IS A FRAMEWORK?

•  Models, tools or maps that provide a systematic, logical way

of analyzing a problem
Description •  Show cause and effect relationships to focus on
•  Distill a complex, ambiguous problem to the relevant issues

•  Guides intelligent questioning of the interviewer

•  Lays out your analysis in a logical, coherent manner—paints
Benefits a picture of how you think
•  Allows you to apply your experience to an unfamiliar
situation

•  SWOT analyses
•  Familiar frameworks—5 forces, 7 Cs, 7 Ss, 4 Ps
•  Matrices—2x2, more sophisticated multi-dimensional
Examples •  Value chain analysis
•  Comparative economics
•  Product/technology life cycle
•  Decision trees

Key is application of, not simply

stating, a framework
Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -10-
 DEMONSTRATION OF CASE INTERVIEWING #1b:
FRAMING

Interviewer Interviewee

Discussion and Q&A?

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -11-

 FRAMING

Do’s Don’ts

Use one to structure your answer Force fit a framework

Explain insights derived using Overuse buzzwords (e.g., Porter’s 5

framework forces)

Creativity is key Try to apply a framework that you do not

know well
Get buy-in from interviewer
Ignore direction from interviewer
Use analogies if possible

Practice, practice, practice

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -12-

 DEMONSTRATION OF CASE INTERVIEWING #2:
ANALYSIS

Interviewer Interviewee

Discussion and Q&A?

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -13-

 ANALYSIS

Do’s Don’ts

Scratch your analysis on paper—even Overly worry about basic math mistakes
stream of consciousness thoughts —yet, don’t make too many of them

Use facts provided to develop support Worry about decimal-point precision

for your conclusions
Lose sight of the issue (get lost in the
Ask for more data, clarifying information details)

Keep your framework in mind (tie back) Lose contact with your interviewer

Do math on paper Ignore when analytics disprove original

hypotheses
Use round numbers
Keep your thought processes to
Start over if needed yourself

“Think out loud”

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -14-

 DEMONSTRATION OF CASE INTERVIEWING #3:
CONCLUSION

Interviewer Interviewee

Discussion and Q&A?

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -15-

 CONCLUDING THE CASE

Do’s Don’ts

Summarize your analysis Forget to conclude the case—regardless

of progress made or time constraints
Provide a clear recommendation or
hypothesis derived from your analysis Waffle or be indecisive—have a point of
view and confidently support it
Highlight any additional information you
would need to know Ask for feedback

Identify any implications of your Forget the original question

recommendations (e.g., competitor
response, client reaction)

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -16-

 HOW DO I PREPARE?
No Magical Formula

•  With classmates, friends who interviewed last year, and

people at your school’s career services
Practice •  Look on the web for firm-provided practice questions
(bcg.com)
Decreasing performance impact

•  Case interview guides (e.g., WetFeet)

•  View the interview as an opportunity, not a hurdle

Prepare •  Remember, most questions have no “right answer”
mentally •  Familiarize yourself with frameworks
•  Don’t forget about your conclusion

•  Wall Street Journal

Read, read, read •  Financial Times
. . . and think
•  New York Times business section

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 PRACTICAL TIPS FOR SUCCESS

  Bring a pen/pencil and a pad of paper

  Feel free to pause, particularly at the beginning

  Don’t panic—ask questions to clarify facts, learn more information

  Structure your analysis before you begin

  Think out loud

  Be clear about your assumptions

  Silence can be golden

  Do what makes you comfortable—approach with your personal style, not what
you think is expected

Most importantly, have fun!

Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -18-

 BCG DALLAS SUMMER INTERN RECRUITING PROCESS
Key Dates and Events

Case interview workshop today

Resume drop deadline at Ford Career Center today

•  It’s not too late

1st round interviews on campus February 5

•  Similar format as described today
•  Two interviews

Decision round interviews in Dallas office(1) TBD (February)

•  Similar format as described today
•  Three interviews

(1) Candidates that prefer other BCG office locations would conduct decision rounds in those offices
Jan 2004 Case Interview Workshop - UT Austin (Final).ppt -19-
 BCG RECRUITING CONTACTS
Don’t Hesitate to Call With Further Questions

Name Title Telephone E-mail

Debbie Kozar Recruiting Coordinator 214-849-1536 kozar.debbie@bcg.com

Martin Gilkes Project Leader 214-849-1566 gilkes.martin@bcg.com

•  Dallas office
Recruiting Director

Chris Phelps Project Leader 214-849-1541 phelps.chris@bcg.com

•  UT Executive MBA ‘01

Vishal Sharma Consultant 214-849-1552 sharma.vishal@bcg.com

Brandon Smith Project Leader 214-849-1542 smith.brandon@bcg.com

•  UT MBA ‘01

www.bcg.com

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