79_5091993_Accenture Strategy_Case Workbook.ppt

2005 Accenture All Rights Reserved.,Case Workbook,2,2005 Accenture All Rights Reserved.,5,14,26,29,16,3,Table of Contents,What is a Case Interview?The Case Interview Process“Soft”Evaluative CriteriaTypes of Case InterviewsSample Frameworks and ApplicationsPractice Cases,2005 Accenture All Rights Reserved.,What is a Case Interview?,4,2005 Accenture All Rights Reserved.,What is a Case Interview?,A case interview is a type of job interview,used most frequently by strategy consulting firms,that allows an applicant to demonstrate his/her ability to solve a given business problem.During a case interview,an interviewer presents a situation or case and then asks the applicant to explore the underlying causes of the problem and suggest recommendations to remedy the problem.The cases given tend to be real business situations,often drawn from the interviewers actual project experience.Case interviews typically last from thirty to forty-five minutes and an applicant can expect to have several in the interview process at any given firm.Your success in a case interview will not depend on identifying the“correct”answer,but rather on how clearly you define the problem,how logically you structure your analysis,and how well you communicate your thoughts to the interviewer.Strategic consulting firms are looking for intelligent people who can approach business situations in an analytical fashion,think under pressure and maintain a professional presence with clients.A case interview provides excellent insight into how well you would perform in a strategy consulting situation.The purpose of this guide is to familiarize you with the process of a case interview,introduce you to some potential methodologies,and provide you with sample cases to practice.Learning about case interviews is also a helpful means to determine if strategic consulting is right for you,as these cases reflect the types of business situations and structured thinking strategy consultants encounter on a daily basis.,2005 Accenture All Rights Reserved.,The Case Interview Process,6,2005 Accenture All Rights Reserved.,Common Misconceptions about Case Interviews,There are many misconceptions about the case interview and what the interviewer is looking for.,MythThere is one right answer or approach to the caseThe interviewer expects you to get the right answer Industry knowledge is required to do well on the case,FactUsually there are several credible approaches and solutionsThe interviewer expects a thoughtful,structured responseThe interviewer expects you to be effective with the knowledge you have and make hypotheses based on sound common sense,7,2005 Accenture All Rights Reserved.,Case Interview Success Factors,Case interview success depends on providing a thoughtful and structured response to the case problemUnderstand the case situation and what is being askedAnalyze the case issues and potential solutions in a structured mannerMake certain your thought processes are transparent to the interviewerBe creative,yet practical-use your business judgment and give specificsListen for suggestions and hints from the interviewerEngage the interviewer-it is okay to ask for direction and clarificationManage time effectively-maintain your momentum,dont get bogged down on one point,8,2005 Accenture All Rights Reserved.,The Case Interview Process:Structured Problem Solving,The process of a case interview parallels that of a consulting engagement.First,you will be given a description of a case problem by the interviewer.This description may be as short as one sentence or as long as a page of detailed information.Once given the case description,you will need to understand the problem by asking well-thought out questions of the interviewer.The answers to these questions should allow you to develop an approach(framework)that you can use to analyze the situation.After you lay out the framework for the interviewer,you should discuss the analyses you would perform to determine potential solutions to the business problem.The interviewer may ask you to perform simple analyses to test your hypotheses.Finally,you should summarize your methodology with any recommendations you may have.,Listen to Case,ClarifyProblem,DecomposeProblem,TestHypothesis,SummarizeFindings,StateHypotheses,9,2005 Accenture All Rights Reserved.,Clarify the ProblemGoal:Articulate Key Case ProblemActivities:Ask clarifying questionsProbe for additional informationAssess case factsPause to structure your thinkingSummarize issues for discussion,Clarify the Problem,In consulting,understanding the client situation is fundamental to developing solutions to important problems as well as recommendations for how a business could be run more effectively.A case interview models this by presenting you with information,asking you to make sense of it,and develop potential solutions.Clarifying the nature of the business issue(e.g.,declining profitability,loss of market share,or new competitive threats)is an important step.Based on your questions,the interviewer will often provide you with more details about the case.By structuring your questions,you will cue the interviewer to how you plan to work through the problem.It is important to be flexible in your approach and open to multiple solutions.If the questions you are asking do not yield useful answers,try switching to an alternate approach.Remember,you are being partially evaluated on your ability to ask insightful questions.,Listen to Case,ClarifyProblem,DecomposeProblem,TestHypothesis,SummarizeFindings,StateHypotheses,10,2005 Accenture All Rights Reserved.,Once you have stated and clarified the problem,you need to decompose it in an exhaustive,logical manner.By using an issue tree,you can break the problem into smaller pieces and illustrate logical relationships among the component parts.Basic issue trees are structured as follows:To develop a good issue tree,you should ensure that the sub-components are linked in a logical manner,that it prioritizes the issues,and that it reveals possible solutions.Also,each branch of the tree must not overlap with another(mutually exclusive),and the branches should thoroughly represent contributing elements(collectively exhaustive).,Decompose ProblemGoal:Identify Root Causes of ProblemActivities:Break the problem into its component parts in a structured manner,Listen to Case,ClarifyProblem,DecomposeProblem,TestHypothesis,SummarizeFindings,Decompose Problem,StateHypotheses,11,2005 Accenture All Rights Reserved.,State HypothesesGoal:State Hypotheses/Potential SolutionsActivities:Review problem decompositionIdentify potential hypotheses/solutionsState your assumptionsChoose appropriate framework to test hypotheses(see“Sample Frameworks and Applications”section)for example:Porters Five Forces4 Ps of MarketingProfitability AnalysisThree“Cs”Use sketchesGraphics can be a powerful tool,Listen to Case,ClarifyProblem,DecomposeProblem,StateHypotheses,TestHypothesis,SummarizeFindings,State Hypotheses,Once you are confident you understand the problem,you should list out potential hypotheses that may resolve the core problem.You will then need to choose a framework(or analysis tool)to structure your hypotheses(see“Sample Frameworks and Applications”section),but do not feel constrained by these since many cases will not fit neatly into one of those frameworks.The framework is a key to structured thinking-it allows you to approach a problem in a holistic manner,while directing your analysis to each of the components within the framework.,12,2005 Accenture All Rights Reserved.,Once a framework is selected,you must analyze each component of the framework in a logical manner.Discuss the analyses you would perform to determine if your initial hypotheses are true.You may have to ask additional questions of the interviewer to get the information needed to develop these analyses.Often times,you may be asked to perform an analysis with simple data supplied by the interviewer.If you find that your analyses are not confirming your initial hypotheses,develop new ones.If your analyses do not appear to be enlightening,the interviewer may direct you towards another path.Take advantage of these hints if they are offered.,Test Hypotheses,Test HypothesesGoal:Apply framework to Test HypothesesActivities:Describe analyses to be appliedBreak problem into its component parts in a structured mannerApply framework and discuss findings/implications to solution definitionProbe for concurrence/additional informationPresent hypotheses for future testing/discussion,Listen to Case,ClarifyProblem,DecomposeProblem,StateHypotheses,TestHypothesis,SummarizeFindings,13,2005 Accenture All Rights Reserved.,Summarize FindingsGoal:Summarize Findings/ImplicationsActivities:Succinctly remind interviewer of issues coveredPresent solutionsPresent alternative scenarios,Listen to Case,ClarifyProblem,DecomposeProblem,StateHypotheses,TestHypothesis,SummarizeFindings,Summarize Findings,Finally,summarize the framework and analyses you utilized in the case.Suggest recommendations for the client and potential next steps the client should take.The interviewer may tell you what happened with the real project situation on which the case was based.However,dont worry if your methodology or answer did not match the real project situation because you are being evaluated on your thought processes and not against some predetermined answer.,2005 Accenture All Rights Reserved.,“Soft”Evaluative Criteria,15,2005 Accenture All Rights Reserved.,“Soft”Evaluative Criteria,In addition to your ability to ask probing questions,create frameworks,and develop analyses in the case,you will also be evaluated on many intangible qualities.While interviewers look at these criteria in non-case interviews as well,you will need to be extra-conscious of them in a case interview,since often times your concentration will be on solving the case.PoiseAre you confident in your answer?How do you handle yourself when you make a mistake?Do you perform well under pressure?CommunicationAre you articulate in communicating your thought processes and conclusions with others?To be a successful consultant,you must be able to clearly communicate your recommendations and articulate how you were able to arrive at your conclusionsFlexibilityAs situations change and new information becomes available,are you able to adapt your thinking to new data or an emerging environment?Friendliness/AttitudeWill clients and coworkers enjoy spending long hours with you?Other IntangiblesDo you display energy and drive?Do you show initiative?Do you manage time effectively?Do you demonstrate decisiveness?Do you convey a genuine interest in the career and the firm?,2005 Accenture All Rights Reserved.,Types of Case Interviews,17,2005 Accenture All Rights Reserved.,The“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 solid understanding of the facts and what is being asked of you before you begin to“crack”the case.,“The Great Unknown”,“The Parade of Facts”,“The Back of the Envelope”,Provides very little informationTests candidates ability to probe for additional detailsRequires structuring framework based on new facts,Provides a significant amount of detail-some unnecessaryTests candidates ability to distill key issuesRequires depth of analysis based on relevant facts,Provides little information,but asks a key questionTests a candidates analytic abilitiesRequires logical thought process and ease with numbers,Types of Case Interviews,There are three general types of cases:,18,2005 Accenture All Rights Reserved.,“The Great Unknown”Cases,One of the most common types of case interviews poses the situation in one or two sentences,leaving you with little information or structure on which to build.These cases are used often because they test your ability to discover necessary facts by posing the right questions and being able to develop analytical frameworks to solve the problem.Potential Methodology:Case Description:Listen carefully and determine the central business problem that is being asked.Problem Understanding:Pause for a moment and consider the central problem.What additional facts do you need to fully clarify this problem?What are the crucial pieces of information that will allow you to develop a framework around this problem?Write those questions out and ask the interviewer.Be prepared to go several layers deeper into the issue as the interviewers answers may lead you to additional questions.,19,2005 Accenture All Rights Reserved.,“The Great Unknown”Cases(Contd),Potential Methodology(Cont.):Problem Decomposition:Identify and prioritize root causes of the problem by breaking the problem down into its component parts.An issue tree is a valuable tool to ensure that decomposition is exhaustive and that the sub-components are linked together in a logical manner.Hypothesis and Frame-work Development:Describe to the interviewer what some of the potential issues/hypotheses could be.Then choose a framework that will structure your thinking and guide you through testing the issues/hypotheses.Hypothesis Testing:Using the framework selected,explore the issues/hypotheses initially laid out.Describe the factors in each section of the framework that are relevant to the central problem.Also list out analyses to test the hypotheses in each section of the framework.By asking additional questions,you may still yield more information about the case from the interviewer.Case Summary:Review your initial issues/hypotheses in light of your structured analyses and suggest possible recommendations for the client.,20,2005 Accenture All Rights Reserved.,“The Great Unknown”Case Example,Interview Example:The client,a leading manufacturer of prefabricated kitchen furnishings,has been steadily losing market share over the last two years.The senior executive team would like you to help them understand why and what they can do to improve their market standing.Potential Methodology:Problem Understanding:Has the size of the market changed in the last two years?Has the competitive structure of the industry changed?Mergers and Acquisitions?New Entrants?Are there any new products or new technologies that are gaining market share?How are we currently positioned(low cost,high quality,etc.)?What is our competitive advantage?Structure Analysis:Determine the framework that is best suited for this case(see sample frameworks,page 22.)Based on information received from asking questions,explore the different possibilities of why the company may be losing market share(e.g.,high cost structure relative to competition,substitute products threaten our market,etc.)Develop Recommendations:Discuss how the company could reverse the loss of market share(e.g.,new market positioning,cost reduction programs,vertical integration strategy,etc.),21,2005 Accenture All Rights Reserved.,“The Parade of Facts”Cases,These cases are relatively rare because of the amoun