Tips and Tricks to Ace the Case
Thank you to everyone from the UMass community who applied to join IUCG for the Spring semester. For those of you interviewing this weekend, we have some quick tips for the case interview. Below you will find a selection of popular frameworks used to solve an array of cases, as well as links to some helpful resources. Study up, and good luck!
Profitability Framework
The profitability framework is considered one of the most popular frameworks, and is used when addressing a company that has issues with their bottom line.
Remember: Profit = Revenue – Costs
In a more holistic view: E(P=R-C)M, where E=economic conditions, P=profit, R=revenue, C=costs, M=market conditions
Revenue includes price per unit and number of units sold. Types of costs includes Fixed Costs (overhead and insurance) and Variable Costs (new machinery, packaging, raw materials, cost per unit, number of units, etc.)
Economic Conditions to keep in mind:
• Unemployment
• Strength of the Dollar
• Interest Rates
• Consumer Spending
Market Trends
• What are three year trends for this industry?
Note: Revenue can be further broken down by demographic, location, product line, etc.
Porter’s Five Forces
Are you trying to figure out where a company has room for growth? Are you looking into the company’s overall strategy regarding the creation of a new product? These are just two potential situations where Porter’s Five Forces will come in handy. Use this framework for a high level view of what your company’s strategy should be.
Supplier Power
• Number of suppliers
• Size of supplies
• Differentiation of inputs
• Your ability to substitute
• Switching costs
Threat of New Entry
• Time and cost of entry
• Specialist knowledge
• Economies of scale
• Cost advantages
• Technology protection
• Barriers to entry
Competitive Rivalry
• Number of competitors
• Quality difference
• Switching costs
• Customer loyalty
Buyer Power
• Number of customers
• Price sensitivity
• Size of each order
• Differences between competitors
• Bargaining leverage
Threat of Substitute
• Substitute performance
• Cost of change
IUCG’s 8 Case Commandments
- Pay attention to what the question asks
- Take notes
- Verify and ask clarifying questions
- Think before you speak
- Work the numbers
- Be coachable
- Close and summarize
- Don’t forget the original question
Below you will find some useful links relating to case interviews and how to prepare for them.
• McKinsey Interview Advice: http://www.mckinsey.com/careers/join_us/interview_prep
• Case Interview Prep from a former McKinsey Interviewer: http://www.caseinterview.com/case-interview-preparation
• BCG Interview Advice: http://careers.bcg.com/join/practice_cases.aspx
Feel free to do your own research, and good luck!
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Join IUCG: Who We Are and What We Do
It’s the most wonderful time of the year—IUCG is recruiting Junior Analysts for the upcoming spring semester! IUCG is looking for creative and motivated students who are interested in getting real-world, hands-on project experience. Our members are intellectually curious and strive for excellence in all they do. Interested? Here’s a glance at who we are and what we do.
Who we are
IUCG was founded on the values: collaborate, solve, accelerate. We incorporate these values into every facet of the organization, from outside of the group on projects to within club meetings in development workshops. IUCG has fostered a culture of mentorship, where every member can learn from each other, and every member has something unique to offer the group. We constantly push to grow and develop both our members and the group as a whole. Every semester we strive to improve and innovate so that we can provide our clients with quality service and quality recommendations.
What we do
Currently in its fourth operational semester, IUCG has worked with a number of diverse organizations. Our members have provided IT solutions for small restaurants, restructuring for on-campus RSOs, and process improvement recommendations for UMass offices. These pro-bono consulting engagements provide benefits for both IUCG members and IUCG clients; giving members the chance to add value to local organizations, and clients the opportunity to receive free assistance to improve their operations.
Within the organization, we focus on developing our members as individuals. Our weekly develop workshops are a platform for students to refine both their hard and soft skills. This semester we held a small internal case competition, taught the basics of process mapping in Visio, covered the ins and outs of LinkedIn, just to name a few. IUCG is an organization that values intellectual curiosity and the desire to learn. The development workshops complement that desire by providing our members with the opportunity to learn new skills outside of the classroom.
Join IUCG
Do you have a propensity for creative thinking and problem solving? Do you want the opportunity to add value to both the Isenberg and Amherst communities?
IUCG is accepting applications from now until November 15 at 5 p.m.
Apply online: isenbergconsulting.org/membership.
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