0. Source: Boston Consulting Group
The Case Interview
Source: Boston Consulting Group

1. WHY ARE CASE INTERVIEWS GIVEN? To Test Two Things
How much will you like consulting?
How much will consulting
like you?
Expose candidates to case situations and the kind of work consultants do
Give the firm a sense of how you might approach a case 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

2. WHAT ARE CASE INTERVIEWS? Two Main Types
Brain teaser or market sizing
How many pencils are sold annually in the United States?
How many dogs are there in California?
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 help?
The company that owns Vail mountain has seen a decline in revenues over the past five years; what should it think about?
Business problem

3. WHAT DO COMPANIES LOOK FOR? Not “The Answer”
Creativity
Poise
Analytics
Apply a unique perspective to business situations
See the big picture
Draw conclusions from partial info
Make assumptions, see patterns, generate hypotheses
Appear excited by the kinds of issues consultants face
Not intimidated by process/problems
Assimilate info quickly/effectively
Ask insightful questions
Provide structure to unstructured problems
Break problems into components
Apply transparent, logical thinking to each component
Synthesize discussion into solution

4. HOW DO I ATTACK A CASE? Creating a Logical Structure is Key to Success
Framing/organizing
Prioritizing issues
Identifying relevant information
Drawing conclusions from facts
Identifying key implications and next steps
Ability to identify key issues which he/she needs to deal with in order to solve the problem
Ability to assess the issues, prioritize them and form a coherent plan of attack
Ability to dig deep enough to find the detailed information which leads to a meaningful answer
Ability to use information given and manipulate it accurately into a logical conclusion
- identify the key displays or data dimensions needed to reach a solution
- derive relationships among different dimensions of data
Ability to predict relationships and outcomes based on sound reasoning
- clear logic to conclusion
- delineation of alternatives
Framing
Analysis
Con-clusion
Communication skills tested throughout interview

5. 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?

6. DEMONSTRATION OF CASE INTERVIEWING #1a: FRAMING
Interviewer
Interviewee
Discussion and Q&A?

7. Key is application of, not simply
WHAT IS A FRAMEWORK?
Description
Models, tools or maps that provide a systematic, logical way of analyzing a problem
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 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
Value chain analysis
Comparative economics
Product/technology life cycle
Decision trees
Benefits
Examples
Key is application of, not simply
stating, a framework

8. DEMONSTRATION OF CASE INTERVIEWING #1b: FRAMING
Interviewer
Interviewee
Discussion and Q&A?

9. FRAMING Do’s Don’ts Use one to structure your answer
Explain insights derived using framework
Creativity is key
Get buy-in from interviewer
Use analogies if possible
Practice, practice, practice
Force fit a framework
Overuse buzzwords (e.g., Porter’s 5 forces)
Try to apply a framework that you do not know well
Ignore direction from interviewer

10. DEMONSTRATION OF CASE INTERVIEWING #2: ANALYSIS
Interviewer
Interviewee
Discussion and Q&A?

11. ANALYSIS
Do’s
Don’ts
Scratch your analysis on paper—even stream of consciousness thoughts
Use facts provided to develop support for your conclusions
Ask for more data, clarifying information
Keep your framework in mind (tie back)
Do math on paper
Use round numbers
Start over if needed
“Think out loud”
Overly worry about basic math mistakes—yet, don’t make too many of them
Worry about decimal-point precision
Lose sight of the issue (get lost in the details)
Lose contact with your interviewer
Ignore when analytics disprove original hypotheses
Keep your thought processes to yourself

12. DEMONSTRATION OF CASE INTERVIEWING #3: CONCLUSION
Interviewer
Interviewee
Discussion and Q&A?

13. CONCLUDING THE CASE Do’s Don’ts Summarize your analysis
Provide a clear recommendation or hypothesis derived from your analysis
Highlight any additional information you would need to know
Identify any implications of your recommendations (e.g., competitor response, client reaction)
Forget to conclude the case—regardless of progress made or time constraints
Waffle or be indecisive—have a point of view and confidently support it
Ask for feedback
Forget the original question

14. HOW DO I PREPARE? No Magical Formula
Practice
With classmates, friends who interviewed last year, and people at your school’s career services
Look on the web for firm-provided practice questions (bcg.com)
Case interview guides (e.g., WetFeet)
View the interview as an opportunity, not a hurdle
Remember, most questions have no “right answer”
Familiarize yourself with frameworks
Don’t forget about your conclusion
Wall Street Journal
Financial Times
New York Times business section
Prepare
mentally
Decreasing performance impact
Read, read, read and think

15. 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