Case Interview Process Steve Hernandez Associate Director, Career Management Services PHILADELPHIA I SAN FRANCISCO

THE WHARTON MBA FOR EXECUTIVES Introduction to the case interview process Talk about the interview process What is expected from a candidate How many rounds/cases happen for a typical position

THE WHARTON MBA FOR EXECUTIVES Our Agenda 1.Establish a basic grounding for case interviewing 2.Learn the mechanics of case interviewing 3.Practice a case

THE WHARTON MBA FOR EXECUTIVES Consulting is primarily about being a trusted advisor who can help in solving difficult business problems Thinks in a logical and structured way Asks the right questions at the right time Clearly states assumptions Ability to solve a problem Performs conversational math Has communication and persuasion skills Overall personality, especially as a team player All of which are measured in a case interview

THE WHARTON MBA FOR EXECUTIVES The Case Interview: Use a proven approach LEADER 2. Echo case facts 3. Ask clarifying questions 4. Develop a plan 6. Recommend a solution 5. Execute the plan1. Listen and take notes

Quick Tips 6 Breathe, speak slowly and organize your thoughts Use the left margin for notes, use the right side to put together the buckets or formula, use a separate sheet for calculations After each section, write the key takeway at the bottom of the page and box it out Recap and do not restate the given word by word: "Let me repeat some of the information to make sure I captured all the key points … " Focus on Scope. Underline the key information given! (example: Customer had acquisitions in the past that failed -> they shouldn't take major risks with new acquisitions) Confirm the objective Ask clarifying questions Take a min to put together the framework Make sure the buckets are MECE Start with the top buckets and then work your way down (Start across then go down) State that there might be interdependence between categories (MECE on paper but not in real life) Own it and lead the transition: "I think the best way to start is with the Market - do you have any information on the Market status?" Write the objective at the top of the page (for example: calculate profits, calculate # of organ donors, etc …) Write down the formulas first Walk them through the formula!!! Do the math on a separate scratch paper Walk them through the math Write the totals on the main sheet Write the key findings or takeways at the bottom of the page and box it out Make sure you state what does the number mean: "I think this is a good start, examining other countries …", "profit is 0 now, we should look at potential/ways to increase profit" Lead the transition: "there are two ways to increase profits, increase R or decrease C" Write the objective at the top of the page (for example: ways to increase profits, ways to increase # of organ donors, etc …) Take 30 seconds to think in buckets for this question too Start across then go down Write any key takeways at the bottom of the page Take few seconds Start with recommendation, then state why (1, 2, 3, …) Next steps (example: look at the intergration of the acquisition) and any risks Time: mins

The Case Interview: Ask the right opening questions Importance of having a structured approach to listening and taking notes Organization of information is important first step in structured analysis Objective Is our client operating globally or only in the US? Scope Did you say that our client’s annual revenues are $6B? Confirming

The Case Interview: Create the optimal plan to solve the case One Size Fits All Check-listBlue Sky Develop a plan from scratch each time Use a proven checklist and pull out relevant categories Use the same (or a similar) structure for every case Standard frameworks for solving problems. Know them and use them wherever they apply, but do not be too attached – interviews have changed to filter out standard/rehearsed approaches and now put more emphasis on innovative solutions and original thinking

The Case Interview: Solve the business problem 1.Entering a new market 2.Industry analysis 3.Mergers and acquisitions 4.Turnarounds 5.Developing a new product 6.Pricing strategies 7.Growth strategies 8.Starting a new business 9.Competitive response 10.Increasing sales 11.Reducing costs 12.Improving profitability* 13.Recommendation: create your own structured way around each of these, and practice 2-3 cases in each category 14.Do extra practice in market entry, M&A, and cost optimization/profitability areas *The Ivy Case System, Case in Point, Marc Cosentino, 2007

The Case Interview: Close with a compelling recommendation Answer with #s Risks Next Steps Recommendation

RAPPORT – a method to improve your case interview skills Read about the basic concepts Acclimate to the case interview process Prepare the case material that you will use Practice giving your case Obtain feedback from your peers Refine your case and your delivery method (ongoing) David Ohrvall, Crack the Case, Marc Cosentino, Case in Point, Case interview videos at etc.