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Spring Semester: Session 1
ELC Consulting Sessions
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Source: Haas Consulting Club Casebook
Consulting Overview
Overview
Case Interview
Case Practice
What is Consulting?
• Providing research, analysis, and business advice
• Increasing sales, decreasing costs, organizational design
• Classified by the project owner
• CEO = Strategy. CFO = Financial. CTO = Technology
• Average projects of 3-6 months
• Work with 4 - 10 person teams
• Training for business leadership
• Many CEOs, CTOs and CFOs are former consultants
• Accelerated career path
• Senior influence at a very junior level
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Source: Management Consulted
Overview
Case Interview
Industry Landscape
Top 3
Big 4
Tier 2
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Source: Management Consulted
Case Practice
What do consulting firms look for?
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Source: Management Consulted
Overview
Case Interview
Case Practice
Timeline
You need to be talking to…
the right person
at the right time
at the right firm
in the right location
for the right position
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Source: Management Consulted
The Case Interview
Overview
Case Interview
Interview Types
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Source: Haas Consulting Club Casebook
Case Practice
Overview
Case Interview
Interview Rounds
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Source: Haas Consulting Club Casebook
Case Practice
Overview
Case Interview
Case Practice
Interview Do’s & Don’ts
Do’s
Dont’s
• Arrive 15 minutes early.
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Don't interrupt the interviewer
• Be professional: Smile, make eye
contact, and maintain good posture
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Don't be overly familiar, even
if the interviewer is
• Clarify questions
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Don't ramble
• Answer the interviewer's
questions as specifically as possible
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Don’t forget to smile
• Listen. Concentrate not only on the
interviewer's words, but also on the
tone of voice and body language.
• Close on a positive note – “What is
the next step?”
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Source: Federal Consulting Resources
Overview
Case Interview
Case Practice
Your Resources
• Online
• preplounge.com, caseinterview.com, etc.
• Offline Resources
• Consulting books (Case in Point, LOMS, etc.)
• University Casebooks (Warthon, Darden, Haas, etc.)
• One-to-one consulting preparation services
(Management Consulted)
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Case Practice
Overview
Case Interviews
Case Practice
Market Estimation
Case #1 Problem Statement:
The client is a
firm that considering to enter the traffic signal market in
Manhattan, and wants to know what is the Market size of traffic
signals in Manhattan last year?
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Overview
Case Interviews
Case Practice
Market Estimation
Case #2 Problem Statement:
We’re going
to look at the sales of Pianos in the United States. What do you
think annual sales (total revenues) are in the US for Pianos?
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Overview
Case Interviews
Case Practice
Market Estimation
Tips for market sizing cases:
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There are three types of market sizing cases: population based household
based and finally preposterous cases.
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Start by determining which type of case is it
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Usually you don’t get a chance to ask clarifying questions during a market sizing
case, only as questions when you do not understand the questions or
terminology
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Lay out the framework/structure that you will use to answer the question
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Make assumptions and breakdown population by demographics relevant to the
case. For example, if you are trying to find the number of smartphones sold in
the US last year you would break the population down by generation
Overview
Case Interviews
Case Practice
Market Estimation
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Estimate the number of units of what you are sizing per demographic group.
Done through two ways:
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1. By estimating the number, per demographic group, that is in need of a
new product of what you are sizing, and
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2. By estimating the number of replacements and upgrades to new
products which depends on the lifecycle of the product (very important to
consider).
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Do the calculations and come up with your estimate! Be prepared to defend
your assumptions and framework.
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Then work the numbers and assumptions in your structure and come up with
your estimate (that way you get second a second chance to review your though
process)
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Base your assumptions on some sort of logic; otherwise you could be
questioned on how you came up with them.
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Very important to use numbers that are easy to work with. Remember:
the interview is more interested in your logic than whether your
assumptions and numbers are spot on.
Overview
Case Interviews
Case Practice
Market Estimation
Key numbers to remember:
• Us population is 320 Million
• Average Life Expectancy of an American is 80 years
• Even distribution between ages
• 80 Million per generation
• 100 million households (Assuming on average there are 3 people
per household)
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