McKinsey Case Interview Workshop( 18)英文

1、McKinsey Case Interview WorkshopFUQUA SCHOOL OF BUSINESSOctober 31TODAYS TOPICSCase interview overviewPurposeTypesSuggested approachSuccessful problem-solving1RESUME AND CASE INTERVIEWS WHAT FIRMS ARE LOOKING FORFrom your resumeWork experienceAdvancement faster than normSelection by superiors to lea

2、d important projects/special recognitionEvidence of leadership and teamworkEducationAcademic excellenceSignificant leadership rolesPersonal initiativeOutside interestsAthletic/cultural achievementsCommunity activitiesDrive/perseveranceFrom the caseApproachGenuine interest in solving complex problems

3、Structured, logical approachCuriosity, creativityLogical, probing questionsSynthesis and conclusionsSkillsComfort with ambiguity/poise under pressureBroad functional skillsAnalytical rigorQuantitative, numerical agilityPracticalityJudgment, common senseBusiness acumen/instinctClear, logical communic

4、ationEvidence of ExcellenceProblem Solving Ability2TYPES OF CASESBusiness cases“What will the impact of industry consolidation be on company X?“Should company X enter/exit a new/old market?“How should company X react to a new entrant?“Should company X add capacity?Estimation cases“How big would the

5、Ivy Gardens apartment complex have to be for everyone on Earth to live there?“What is the size of the skateboard market in the U.S.?“What do you think annual residential real estate commissions are in Atlanta?Responses should demonstrateBig picture perspectiveAbility to structureBroad functional ski

6、llsComfort with details, analysisResponses should demonstrateComfort with ambiguityAbility to structureFacility with numbersPoise3. . . but there are wrong answersIgnoring or forgetting important factsNot recognizing that some material may be extraneousDefending impractical solutionsForce fitting a

7、framework that just does not workThere is no right answerThe goal is to demonstrate “how you thinkWHAT TO REMEMBER WHEN APPROACHING A CASE4SUGGESTED APPROACH FOR CASESWhat to doListen to introduction do not think ahead to your answersAsk 1-2 clarifying questions, if necessary; take a few notes if yo

8、u like; do not expect every piece of data to be availableOrganize your thoughts and structure the problemPick one branch to probe, develop hypotheses, ask for a few relevant facts, defend/refine hypotheses based on new information, probe further, and describe implications you seePick another branch

9、and continue (Make sure you are prioritizing your responses)Put it all together: try to answer the overall question (big picture) with a reasonable, actionable conclusionReview what you knowClarify what you do not understandSolidify and tender recommendationWhat not to doPlay 20 questionsAssume 1 fr

10、amework fits allCover 1 issue without mentioning and prioritizing all key issuesDig your heels inHide from the details (or the numbers)Get frustratedConduct a postmortem in the interview5FIVE EASY STEPS TO BULLET-PROOF PROBLEM SOLVINGStep 1State the problemStep 2Disaggregate the issuesStep 3Eliminat

11、e allnon-key issuesStep 4Conduct critical analyses, porpoise between data and hypothesesStep 5Synthesize findings and build argument?6Clear statement of problem to be solved or issue to be resolved断定STEP 1: STATE THE PROBLEMLEMCharacteristics of a good problem statementA leading question or firm hyp

12、othesis对答案有诱导性的提问或稳固的假说Specific not general详细和精确的非概括性的综合的Not a statement of fact or non-disputable assertion不是事实的陈述或武断：没有讨论余地的断言Actionable可控告的Focuses on what the decision maker needs to move forward关注于什么是决策者需要前进的?Interviewer states the problemProblem has been clearly stated, and you understand itPro

13、blem has NOT been clearly stated, or you dont understand itYou must clearly understand the problemParaphrase the problem to make sure you have it rightAsk questions to clarify the issueStep 2.You are responsible for ensuring the clarity of the problem7STEP 2: DISAGGREGATE THE ISSUESWhy use logic tre

14、es?1.To break a problem into component parts so thatProblem-solving work can be divided into intellectually manageable piecesPriorities can be set among the partsResponsibilities can be allocated to individuals2.To ensure that the integrity of the problem solving is maintainedSolving the parts will

15、really solve the problemThe parts are mutually exclusive and collectively exhaustive (i.e., no overlaps, no gaps)SubissueSubissueSubissueSubissueSubissueSubissueIssues/hypothesis No. 1Issues/hypothesis No. 2Issues/hypothesis No. 3Problem statementSuggestions - Describe your approach to the interview

16、er as you proceed. Dont assume they know what you are thinking!向面试者描述你的过程方法，不要假定他们知道你的想法！ - State your hypotheses as crisply as possible.陈述你的臆测假设尽可能的清楚！ - Only use frameworks if they are appropriate - dont force fit. 仅用模型描述只要适用，但不要强加引用， - The ideas are important, not the framework. “I think we shoul

17、d look at the power of buyers and industry competitiveness is better than “Id like to apply part of the Porter Five Forces framework. 思想的重要性，不是模型。8STEP 3: ELIMINATE ALL NON-KEY ISSUESWhyFirst step in constant, interactive refinement process首先，坚决地、交互地提练过程。Focuses your effort on what is most important

18、把努力关注在什么是最重要的Dos & Donts做和不做Always ask yourself “so what . . . but also ask yourself what you might have missed经常问自己那又怎么样，而且问自己什么可能已经失败Tell the interviewer what you are cutting and why告诉面试者砍掉什么及为什么。Problem statementIssue 1Issue 2Issue 3Issue 49STEP 4: CONDUCT CRITICAL ANALYSIS实施评论分析Dos做Be hypothesis

19、-driven and end products-oriented基于假设和最后结果导向“Porpoise frequently between hypothesis and data经常窜梭于假说和数据之间Keep the analyses as simple as you can. Be suspicious of huge linear programs and their ilk. 保持分析近可能的简单。Do order of magnitude estimates before you start detailed analyses做数量级估计在你开始详细分析之前Use 80/20

20、and back-of-envelope thinking运用8020原那么和信封反面思考Do not be afraid to be creative不要害怕创造性Donts不做Do not just “run the numbers ask yourself “what question am I trying to answer?不要仅“运用数字，问自己“什么问题是我试图去答复Do not chase your tail不要追你的尾巴。如狗 。不要追牛角尖Do you really need to calculate the WACC?Dont miss the forest for t

21、he trees.不要只见树不见森林Beware of “polishing dirt对“磨污垢 小心Look for breakthrough thinking洞察力10STEP 5: SYNTHESIZE FINDINGS AND BUILD ARGUMENTComplication复杂化Situation情形ResolutionUse situation, complication, resolution formatPyramid structureor decision treeMain assertionSupporting dataSupporting dataSupportin

22、g dataSupporting dataQuestionSub-assertionSub-assertionQuestionQuestionYesAction 1 NoAction 2YesAction 3 NoAction 4and / orState the conditions at point of problemFlesh out barriers to improving situation充实栏内内容来改进情形Lay out possible solution path展示可能的解决路径11APPENDIX: INTERVIEWING WITH MCKINSEY12FORMAT

23、 FOR 30 MINUTE FIRST ROUND INTERVIEW首轮面试30分形式Minutes15-2055-10Resume-related questions and Q&AIntroductionCaseFirst roundOn campusTwo 30 minute case/resume interviewsSecond roundTwo 30 minute interviewsGenerally both case interviewsThird roundIn an officefive 30-45 minute interviews3-5 casesXIIVIIII

24、13WHAT WE ARE LOOKING FORProblem solvingIntellectual capacityCreativityPractical approach and business judgmentQuantitative comfortPersonal impactPresenceEmpathyDrive / Aspiration动力和热情Drive for excellenceEnergy level/perseveranceLeadership领导能力Personal initiativeEntrepreneurshipMcKinsey profile业务力、智商

25、决策力、右脑力执行力、自信心、左脑力开朗、情商14RESUME RELATED QUESTIONS履历相关的问题Focused Questions“Describe a situation in which youve led a project to success?描述你领导工程到达成功“What strengths and weaknesses would your teammates recognize in your work abilities?对你的工作能力来讲，你的队友认为你的强项和弱项是什么？“Describe a situation in which youve had t

26、o overcome obstacles to reach a desired outcome.描述一种情况，你是如何克服困难到达期望的结果Why?Evidence of excellence优秀的证据Personal growth plan个人成长方案Logical career plan符合逻辑的职业方案Depth of preparation for interviewOpen Ended Questions“Tell me about yourself.“Why did you choose Darden?Why?Clear understanding of personal sell

27、ing points清楚的理解个人的卖点Ability to clearly communicate in a structured way结构化方法进行清楚沟通的能力INTERVIEWING STYLES FOR CASES面试案例的类型From one extreme 来自极端的Detailed introductionSpecific problem to be solved明确的问题被解决。A few starter facts少数的事实开始Lots more facts available, if asked如果提问可得到更多事实Conversational feel through

28、out the interview健谈的感觉贯穿整个面试Why?Test analytical ability测试分析能力 Test ability to sort out key facts and stay focussed测试能挑选出关键事实的能力并保持关注to the otherBrief introductionVery broad description of problem (e.g. poor performance)对问题非常广阔的描述Few, if any , facts available事实得到很少What do you think responses to most

29、questions你怎么想“对大局部问题。Why?Test overall problem structuring, hypothesis generating ability测试构建全部问题和假说创造的能力Test for creativity and business instinct测试创造力和商业本能Look for comfort with ambiguity自圆其说的能力IMPROVING CASE PERFORMANCE提高案例的表现Indirectly through classesPolicyStrategic frameworksBusiness instinctIndustry structureEconomics/financeVariable vs. fixed cost structuresEvaluating investment opportunities (ROI, Cost of Capital, )Income Statement/Balance Sheet/Cash Flow Statement thinkingValue chain thinkingMarketingCustomer segmentation