1. Case Interview Workshops #2- Interview Structure and example case

2. 1.Interview Process Overview 2.Fit Interviews 3.Case Interview (sample case) Outline

3. The business of giving “expert” advice to people working in a professional or technical field. So… in more simple terms helping people solve problems. What is consulting?

4. The JHGCC Timeline of Events: Stay tuned! 1.Bi-weekly Case Study Workshops (Fall & Spring) 2.Business Essentials Lectures (Coming soon) 3.Fall Mini-Case Competition 4.Spring Biotech Case Competition 5.Recruiting Info-sessions (Fall & Spring)

5. The JHGCC Timeline of Events: Stay tuned! 1.Case Study Workshops (Fall & Spring) DateStyleTopicRoom Sept. 16th, 2015LectureClub IntroductionSPH W2008 Sept.30th, 2015LectureInterview Structure/ Fit PortionSPH W2008 Oct. 14th, 2015TutorialPractice CaseSPH W2008 Oct. 28th, 2015TutorialPractice CaseSPH W2008 Nov. 11th, 2015TutorialPractice CaseSPH W2008 Dec 2nd, 2015TutorialPractice CaseSPH W2008 Dec. 16th, 2015TutorialPractice CaseSPH W2008

6. 1.Two rounds of Interviews  First round with junior people  Second round with senior people 2.Each round usually consists of two or three interviews 3.Overall Structure of the Interview  Fit  Case Case Interview Process

7. 7 Why do consulting firms do fit interviews? 1.Can you do the job? a.Communication skills b.Teamwork and leadership c.Problem-solving skills 2.Do I want to work with this person? a.Cultural fit with the firm b.Credibility on the job Tested in fit interviews

8. Facts about consultingWhat is really tested in an interview Consulting is a service industry Are you a people’s person? Can you build personal relationships? Consultants have to often tell clients facts that they wont like Can you influence people over whom you have no control? Can you handle situations where people don’t agree with you? Consultants work in teams Have you worked in/led teams before? Are you easy to get along? Consultants sell confidence Does your body-language exhibit confidence? Why do consulting firms do fit interviews?

9. How do you prepare for fit interviews? Prepare stories that: Communication skills Demonstrate Clarity Confidence Ability to resolve conflicts Influencing skills Demonstrate Leadership Ability to bring/manage change Motivation to deliver impact

10. Structure your stories New collaborator wanted to work on a side project that can turn into a nice paper with high impact, but your boss does not want you to waste time on it. Situation You wanted to help the collaborator but your boss wants you to finish some experiments in the short-term. In order to achieve your goal, you had to convince your boss and establish a plan that satisfied both parties. Task You: 1) tried to understand why your PI was concerned; 2) discussed with collaborator what would be your minimal commitment; 3) initiated communications with some key players involved, e.g. current collaborators, potential industry partners. Action You were able to: 1) express your priorities to your PI, who eventually agreed with your plan/time allocations, and 2) coordinate with collaborators and 2 industry partners to finish proof-of-concept studies for a R01 grant, while saving $8k in costs. Results

11. Case Interviews: Types of Questions 1.Growth: a.Top-line (revenue) growth b.Bottom-line (profitability) growth 2.Business Situations a.New products or services b.Market entry c.Competition d.Pricing and valuation e.Operations 3.Merger & Acquisitions

12. Case Interviews: Typical Format 1.Establishing Background: 1.Interviewer introduces case 2.Understanding objectives 3.Clarifying questions 2.Structuring Approach: 1.MECE 3.Analysis 1.Quantitative 2.Qualitative 4.Recommendation 5 min 3-4 min 15-20 min 1-3 min *Interviews can also be interviewer-led or interviewee-led

13. Example Case: Dev Co.

14. General Tips: Try to relax Listen carefully to your interviewer Ask questions Be structured Try to be concise State your assumptions Do not guess Try to be quantitative

15. The client is a small drug manufacturer, DevCo, based in the United States. DevCo currently has one drug on the market sold mainly in the United States, but has also sold to a lesser degree in the U.K. and Germany. DevCo is looking to increase its presence in Europe and is considering expanding into Poland, Spain, and France, specifically. DevCo is interested in knowing which country it should expand into and what the criteria should be for choosing a country. Establishing Background: Case Information

16. Establishing Background: Clarifying questions A. What is the drug our client manufactures? The drug is an anti-clotting drug used during angioplasties, a type of heart surgery. Why those 3 countries in Europe? DevCo is considering entering Poland, Spain, and France because those countries have the next 3 largest populations in Europe behind the U.K. and Germany Does DevCo have a specific timeline for their plans? DevCo only wants to enter 1 country and intends to stay in that country for at least 5 years B. Clarify objectives

17. 1.Synthesize key points and re-cap client’s goals 1.Clarify unfamiliar terminology 2.Clarify objectives 3.Clarify scope 2.Structure your analysis 3.Prioritize branches to ensure efficiency 4.Communicate your approach before diving in Background and Structuring: Guiding Principles

18. Structuring Your Approach: Hypotheses and MECEness Demonstrate a logical thought process: 1.Mutually Exclusive, Collectively Exhaustive (MECE) 1.Creativity 1.Prioritization (efficiency)

19. Structuring Your Approach Question 1. What key areas would you want to explore in order to understand which country DevCo should enter?

20. Structuring Your Approach Question 1. What key areas would you want to explore in order to understand which country DevCo should enter? Angioplasty Market in 3 countries Size, growth rate, recent trends Financial implications (revenues/costs) Who makes prescribing decisions Competition in the 3 countries Other players and their products How does our product differ? (better/worse, price etc.) What market share can we expect to acquire Implementation Risks Different regulatory structure Building relationships in new locations Distribution issues (how long does it take to get up and running) Company culture issues

21. Formulating Key Insights From Data

23. Question 2. Based on the data what are your current thoughts about which market DevCo should enter? Assumptions: 1.) Same price will be charged for our drug in the 3 countries 2.) Assume we will acquire the entire market (we can adjust this later) 3.) Assume no compounding on % growth of number of angioplasties performed each year

24. Formulating Key Insights From Data Question 2. Based on the data what are your current thoughts about which market DevCo should enter? Verbally explain what your are doing and what you hope to get out of it: “It is in the best interest of our client to enter the largest market, as this will represent the largest revenue generating opportunity.” “In order to determine what the largest market will be I would like to look calculate the market sizes for the France, Spain, and Poland and how they will change over the next 5 years.”

25. Formulating Key Insights From Data Question 2. Based on the data what are your current thoughts about which market DevCo should enter? Don’t just perform the calculation, draw insights and conclusions based on the numbers! Based on data that were provided and the assumptions that I made I would recommend that our client enter the French market. I say this because although the French market is shrinking it will still represent the largest market for our clients drug for the next 5 years.

26. Additional resources Case in Point by Marc Cosentino Crack the Case System by David Ohrvall Victor Cheng Website: www.caseinterview.comwww.caseinterview.com