2023年面试技巧培训资料

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omucｈ.AｎdｌetmeｔellｙoｕalitｔlebiｔabouｔwhattypeｓｏｆaｃtｉｖiｔieｓIｗaｓiｎvolｖｅｄin.８．Wｈaｔlessonｓdidyouleaｒｎfromyouｌaｓｔjｏbtｈａtyouｔhinkｃａnｂetrａｎsferredtotｈispoｓｉｔioｎ?9.Whaｔdoyoucoｎｓideryouｒｂiggestｆａｕｌt?Ｉntｅｒｖiewerｓlｏveｔhisquｅstion，ｅｖenthouｇhiｔsoｒtofinvｉtesdishonesty.Ｙou'resuｐposedｔosaysomethiｎglikｅ:"I'mａｐerfectionisｔ."Ｏｒ：＂Itendｔowoｒｋtｏohard．"Youmaywantｔoprｅpareaｍoreｔｈougｈtfulanswer,ｂutyoushｏuldａtｌｅastanｔicｉpatetｈisquestion.10.Ifｙoｕcouldgoaｎyｗｈerefor24hｏurｓ，ｗiｔhaｎunlimｉtedbｕｄgeｔｗheｒｅwouldyougo?Somｅｔimｅs,iｎterｖieweｒｓwilｌaskｏｆf－thｅ-wallqｕestｉｏnsjusｔtoｇｅtaｂetｔerｓｅnseofｗｈoｙoｕarｅasaｐerson.QuesｔｉｏｎstoAｓkDurｉｎgYoｕｒＳuｍmerIｎｔｅrｎｓhiｐIｎｔｅrvｉeｗs*Ｃａｎｙｏugivｅmeaｎexaｍpleofmysｕmmerreｓｐｏnsibｉlitｉes?Trytomａkesｕretheansweryourｅceivｅiｓassｐｅcifiｃasｐossible.Pａrticulａrlyifyou'ｒeneｗtoｔheindustry,youwaｎttｏｅnsｕreｔhａtｙouｗiｌlperfｏrmｗorkthaｔisｒepresentａtiveofａfuｌl-timeassｏｃiａｔe.＊Howmaｎypeoplearetｙpiｃaｌlygivenpermanenｔjｏbofferｓ?Aｎdａskforpｅrceｎtａgesｔoo.Ｔhisshowｓyou＇reiｎｔerｅｓtedｉｎoｐporｔunitiesaftergraduationattheｆirm,ａnｄallｏwｓｙoｕtopｌanｙourstrategicoｐｔionｓ．Sｏｍefｉｒｍｓ,likｅGoldmanＳachs，aｒeｋｎoｗｎfｏrgiｖingofｆｅrｓtｏasmallpropoｒtionoftｈeｓummerclass.Youｍaywanｔtotrybｅtteｒoddsatanoｔｈeｒfirｍ．*WiｌlIbｅabletorotatebetweeｎdepartmentｓ？Agａin,themoｒeyoukｎｏwabｏutｔｈｅcompａny,theｂｅttｅryｏｕｗillｂeａbletodeterｍinｅwｈiｃhdepartｍentinterｅsｔｓyoｕmｏst，ｏrｗhethｅryouwａnｔｔoｗoｒkatthefirmaｔaｌｌ.Ｉｆtherｅ'saｓpeｃｉfiｃdepａrtmentyoｕwanttoｗorkiｎ,youshouldmaketｈｉsｋnoｗｎ.*Dｏｙoｕproviｄeanyassiｓｔanceｗithrｅlocatｉoｎ？Manｙfirmswillｈelplｏcａｔe,aｎdeveｎsｕbsidize,sｕmmerhｏusiｎg.Iftｈiｓmaｋeｓadifｆｅreｎceinwhｅｔherｙoutａｋｅtｈeｐｏｓiｔｉon,ａsｋ.ＳtrａtegiｅｓｆorAnswｅrｉｎgBuｓinessCaｓeQｕestiｏnsIfyou＇ｒegｏｉnｇinｔｏａnｉnterviｅwwherｅyoｕmightｅxpectacａseqｕｅstioｎ（aｂusｉnｅssquｅstiｏnｐｒｅｓentｅdtoyｏuforyouｒdetailedanalｙsis）,it＇simportａnttohaveafewbaｓiｃtipｓｄｏｗnｐaｔ．１.Taｋｅnotｅs.Ａsyｏuｒiｎtｅrviｅｗerpreｓentｓyｏuｒcasｅ,besuretotａkecareｆulｎoｔesｏnthenuｍbersorotherfaｃtｓgｉven．(Aｌwaysｂｒiｎganｏteｐadaｎdapｅntoacｏnsｕltｉnginterview.）Youdｏｎ'twａntｔoａsｋyouｒintervieｗeｒｔoｌａtｅｒreｐeatinformａtionthathasalreaｄybeengiven.2.Aｓkｑuestions.Yｏｕrinterｖiewｅrexpectsyouｔoaskqｕesｔｉoｎs--asmanｙiｎtｅlｌｉgeｎtｑｕｅstiｏnsａsyouｎeedtoｏｂtａinaｎaccｕratepictureoftherelevaｎtfactｓinｔｈｅｃａsｅ.Manyinexpｅｒｉeｎceｄcaｓeiｎtervｉｅweesmａｋｅtheeｒrｏrｏｆnotasｋiｎｇthｅirintｅrvieweranyquestions，pｅrｈaｐsaｆraidthａｔtｈeｙwillｌｏoｋｉｇnorant,orｎotwishｉnｇｔo"bother"thｅinｔerｖiewer.Ontheｃｏｎtrarｙ--noｔaskingquesｔionsiｓafaｔａlerrorinacａseｉnｔｅrview．Ifyouｄon＇tkｎｏwｔhefｉrstthｉnｇaboutthehｅlｉcｏptermarket,ａskｈowmuchｉtｃoｓtstomanuｆacturearotor．Ifｙouneeｄｔoｅｓｔimatetｈｅdeｍaｎdfｏrabeef－flaｖｏredpotatosnａckｉnWｉchｉtａ，Ｋaｎsas,theｎfｅelfrｅetoａsｋthepopulａｔionｏfWichiｔaandenｖirons．3.Bepreｐａrｅdtｏtａkecharｇe.Ｙoｕｗillofｔenｆiｎdｔhatyourinterviewerwilldｉrｅｃtyoｕrlineofquestioningｔoaspeciｆiｃarea，bｕtｙouｍustａlwａysｂeｒeadｙtoconｔrｏltｈｅconversatiｏnｉncasetheｉｎｔｅrvieｗｅｒdｏｅsnotｄireｃtｙｏuｒreasｏniｎg.Ifyoｕａreuｎsure,simplｙasｋtheiｎtｅrviｅweｒ.Ｆorinsｔaｎce,ifｙｏufindtheinterviewerofferiｎｇliｔtlｅdiｒectionasyｏumoｖeｔhroughyｏｕrｉnitiaｌｓｃoopinｇquestiｏｎｓ，yｏｕmaywiｓｈtoａsk，＂Ifiｎdtｈｅlackｏfariｓkassｅssmenｔtobeａpotentiaｌshｏwstopｐｅr.MighｔＩaskｓomedetａilｅdquｅstiｏｎsaｂｏｕtthiｓ？"Oryoumighｔsaｙ,"Givenwhaｔyｏuhavｅtoldmeabｏutthesituａtion,Iwouldliketodriｌldowｎforｆurtheｒclaritｙregaｒdｉｎgｔheclｉenｔ'scｕrrentrelａtionsｈipwitｈｉtsdiｓtribｕtioｎpartner.ＷouldtｈaｔｂeOK?"Inthisway,yｏutaｋecｈaｒgｅoｆtheｌinｅｏfquestionｉngwithoutｓteppｉngontheinｔｅrviewer＇srolｅ.4.Makenoasｓumpｔions!Asaｃａｓeinｔeｒvieｗｅe,yoｕｓhouldnevｅrmakeaｎｙassumｐtioｎs.Ｙoushoｕｌdassumethepersoｎaoｆanactｕａlcｏｎsulｔanｔtryingtolearｎａbｏutanassigｎment.Itmightｓeeｍobviousthatthereiｓnoｐｒeexｉstｉnｇworkpｌan(becａuseifthｅrewａs,whywｏｕldthisbｅacａseiｎtervｉｅｗ?）butyｏusｈouldａｓｋ.Yｏｕｓhｏuldａlsoaskifthecomｐａnyhasencｏuntｅredａsiｍｉlaｒｐrobｌeｍ,oｒwhatｏthｅrcompａｎiesiｎthefｉｅlｄhavedonｅwhenfacedbｙｓimｉｌarproblemｓ.Yｏurinｔeｒvieｗermaynotrｅｌeasｅthａtiｎfoｒｍａtiｏnbutwｉｌlbeiｍpｒesｓedthatyouasｋｅdtheseseｎsiｂlｅquestiｏｎs．Sｏmｅgｏodbasiｃ"pｒｏfｅsｓional"ｑuｅstｉonstoａsk，ｗhichａpplytomｏstcases:Ｗhohireduｓ？Hoｗlｏｎｇwillthesｅengａｇementslast?Iｓtｈereaｗoｒkpｌan?Hａsthecomｐanｙｆaｃeｄtｈisｐroblem(oｒoppoｒtuｎity)ｂeｆore?Iｆso,ｈｏwdidiｔreacｔ?Whａtwasｔhｅoutcome?Whathaveｏthｅrcompaｎiesfacｉngtｈissituａtiondone?Hａｓthefirmalreadydonｅanyreseａrchiｎtoｔheisｓue?Ｉfsｏ，whatweｒeitsfinｄings?５．Maｉnｔａiｎeyｅcoｎtact.Ａlwayｓmaintaindireｃｔeｙecontactduｒingｔｈecasｅｉnterｖiew.Ｅyecｏｎtactｉsｃriticaｌwhenanｓwerinｇcaseｑuｅstｉｏns--itｄｅmoｎstraｔｅsconfideｎｃeａndauｔhority.Rememberthatinconsulｔｉngyoｕmayfiｎｄyourselfinfｒoｎｔoｆ20execuｔｉvesatamaｊorcoｒpoｒａtｉｏnpｒesentingaｓtrａtｅｇyyouwerebｒiefedononlｙahａlf-ｈoｕraｇo.Andthenyoｕｈaｖetoanswerqｕestiｏns！Sｏyｏucanｓeeｗhｙbusｉnesｓcasｅintｅrｖiewｉnｇｉｓｓｏimporｔaｎttoｃonsultinｇ－-itisadｉｒeｃtparalleltｏtheenvironｍｅntｃonsｕltantsmｕsｔfaｃeevｅｒyday.FiｎaｎｃeIｎtervieｗQuestｉonｓWiｔｈWallStrｅetｓalarｉesskｙrockｅting，ｉnvestment-bａnkingjobsareashotaseｖer.Thiｓmｅansit'sｅspeciallｙｉｍpｏrtａｎｔtobeｐrepａredforbankiｎgandfinａnceinterviews.Thesefinancｅintｅｒviewquestionｓshｏuｌｄｈｅlp．Fｏｒmｏrｅquestioｎsaｎｄintervｉewａｄviｃe，reａdthｅVauｌt.cｏｍGuiｄetoFinａｎｃeInterviｅｗｓ.1．Hｏwwouldyouvａlｕeacompanyｙou'rｅｃonsideringbuyinｇ?

ＯneoｆtｈemostcoｍmonｑｕeｓｔｉonｓWallStrｅeｔｉnｔｅrviｅｗerｓａsk.(Othervariatｉonsofｔhｉｓquestionarｅ:"howwouｌdｙouｖalueaｓtockｙouwerecｏnsidｅｒinｇｂuyinｇ，taｋingpubliｃ,eｔc.）WallStrｅetｅrｓｕsｅtｈｉｓｑuestiｏnｔosepａraｔethefinａncejoｃｋsfroｍtｈｅneｏphyｔes．Ｈeｒe'ｓａbaｓicａnswertｈatshｏuｌｄｉmpresｓｙｏｕrinterviｅｗｅr:Oｎeanｓwertoｔhisqｕestioｎiｓｔodｉscountthecomｐaｎｙ'sprojeｃtedcａsｈflowsｂｙa"ｒisk－adjｕsｔeｄdiscounｔrate."Afｔｅrprｏjectinｇthefiｒstfiveor１0years,yｏuaｄdiｎa"TerminaｌＶaｌｕｅ,"whicｈrｅpｒeｓentｓtheprｅsｅｎtｖaｌueofallthｅｆｕturｅcashfｌｏｗsthatａrｅtｏｏfａriｎtotｈeｆutｕretoprojeｃt.YoucanｃaｌculatｅtheTerｍinａｌValueinoneoftwowａｙs:(1)youｔakethｅearniｎgｓｏfthelａstyｅaryoupｒｏjected,sayyear１0,andmulｔｉpｌyｉｔbyｓomemａrｋetmｕlｔipｌelike20tｉmeseａrninｇs,ａndthat'stheterminalvａlue;or（2)ｙoutａkｅthｅlastｙｅａr,ｓayyear10,aｎｄassuｍeｓomeｃonstantgrowthrateafｔerthat,ｐerｈaps1０%.Thepresentｖalueｏｆｔｈiｓｇroｗiｎｇstrｅamｏfpaymｅntsafteｒyｅaｒ１０istheTerminalValｕｅ．Noｔe：Tofiｇurｅouｔwｈaｔ"disｃountｒate"yoｕwouldusｅtodiscoｕｎｔthecomｐany'ｓcａｓhflows,telｌｙourｉnｔeｒvieweｒyｏｕwouldusｅtｈe＂ＣapiｔaｌＡssｅtPｒｉciｎgModｅl＂（or"CAP-Ｍ＂).（Inａnｕｔshｅll,CAPＭｓaｙstｈattｈeprｏｐerｄisｃountｒateｔouｓeisｔhｅrisk-ｆreeinterｅsｔrａtｅadjustedupwarｄstoreｆlｅctthｉｓpartｉｃularcｏmｐａｎy'smarketriskoｒ"betａ."）Finallｙ,youshouｌｄalsomentiｏnothermetｈodｓｏfvaluｉngacompany,ｉnclｕdinｇｌoｏｋｉngat"comparａblｅs,"-thatｉs,howothersimilarcompaniesｗerevaｌｕedreｃeｎtlyasａmultiｐleoftheirsales，netincｏme，oｒsomｅothｅrmeasure.2.WalｋmetｈｒouｇhthemａjoｒlｉneitemｓoｎａCashＦlｏwｓｔaｔeｍｅnt．

Aｑuestioｎtotestｙouracｃouｎtｉｎgskilｌs.Tｈeanswer:FiｒstｔheBeginnｉngCａshＢａlance,thenCaｓhfroｍOｐeraｔions,tｈｅnＣashfｒｏｍＩnｖeｓtinｇActｉviｔiｅs,thenCaｓｈfromFiｎanｃiｎgＡctivｉｔies,andfinalｌｙtheＥｎdingCashＢalance.3.ＷｈatｉsEBITDA?Aｌｓoknownaｓ"cａshflｏw,"ＥＢITDAiｓEarｎｉngsBｅｆoｒｅIｎｔerest，Tａxes,Ｄeｐreciaｔiｏn，ａnｄAｍoｒtizatｉon．4.Sａyｙoukｎewacｏｍpａny'ｓnｅｔincome.Ｈｏwwouldyｏｕfｉgureｏutits＂cashfｌow＂?ﻫAbasicanswｅr：Youstartｗiththecoｍpanｙ'ｓnｅtinｃome.Thｅnｙoｕaddbackｄeprｅｃiａｔiｏnａndamorｔiｚatioｎ.Thenyoｕsubtｒａctthecoｍpany'ｓCapiｔａlExpｅndiｔｕｒes（ｃalｌeｄ＂CapEx"foｒshｏrt,thisiｓｈoｗmuｃhmｏnｅyｔｈeｃompaｎymustinvesteachyｅarｏnplantsandｅquipment).Tｈｅnuｍberyougｅtｉsthecomｐaｎｙ'scａshfｌoｗ:５.CoｍpanyAisconsiｄｅringaｃqｕｉringCompanyＢ.CoｍpanｙA'sP/Eratiois55tiｍeseａrninｇｓ,whereasＣompaｎyB'sP/Erａｔiois３0timｅｓeaｒnｉngs．AｆteｒCｏmｐanyAaｃqｕｉresＣompanｙＢ,wilｌＣoｍｐanyA'sｅａｒniｎgsｐershａreｒise,falｌ,orstaｙtｈｅsame?ﻫＣompanｙＡ'ｓeａrnings－peｒ-shaｒewｉｌlriｓｅ，becaｕｓeoｆthｅｆolloｗingｒule：wｈenahigherP/ＥcomｐanyｂuyｓalowｅrP/Ecoｍpany,tｈeacqｕirｅr＇sｅarｎinｇｓ-pｅr-ｓｈarewillrise.Thedｅａlissaidtｏｂe"accreｔiｖe,"asoppｏsedto"dilutｉｖｅ,"tｏtheaｃquirer'searnings.Dｅfeａtｉnｇｔhｅ12-BaｌlＱｕeｓtionSoｍeinteｒviｅwｑuｅstｉonｓarｅnotorｉoｕslｙdifｆicult.Thｉｓparｔｉcuｌarlogｉcpｒoblemhasｍadeitsappeａｒａnceatvａｒｉousｃonsｕlｔiｎg，inveｓtmｅｎtbankingａnｄtechｆirms(incｌudiｎgMcKｉnseyａｎdMｉcroｓoft).Wilｌｙoubeprepａreｄiｆｙoｕriｎterｖieweｒspｒｉngｓuｐｏnyouthekｎotty"12ｂａll"ｄilemma?ＴhankｓtoVａultＲepｏrts,youcaｎａnｓwerinsafetｙ!Ｈere＇stheqｕestion:Youｈavｅ12balls.Allｏftheｍaｒeidｅnｔiｃalexceptoｎe,wｈｉcｈｉseiｔherｈeavierorlｉｇｈｔerthantherest-ｉtiseitherhｏｌlowswhileｔｈeｒｅstａresｏlｉd，orsｏｌｉdwhiｌetherestarｅｈolｌow.Ｙouｈaveasimpｌetwｏ-armedscaｌe,andarｅｐｅrｍｉｔteｄthreｅweightｉngs.Canyouｉｄentｉfytheｏｄdbａlｌ,aｎddetermineｗｈeｔherｉｔiｓhｏllowｏrｓolｉd?Thｉsｌogicｐrｏblemissｕrｅｔoputyouranａlyticａlａbiｌitｙonｄiｓplay!Fiｒｓt,we'lleｘamiｎｅwhaｔｔhｏugｈtｐrｏcesｓｅsanｉnｔｅrviewｅrislookingfｏr，andｔhｅnwe＇lldiｓｃｕssoｎeｓolutioｎ.Startｗitｈtheｓiｍplestofobsｅrvａtｉｏns.Theｎumbeｒｏfbaｌlｓyouｗeighａgainｓｔeaｃhoｔhｅrｍustbｅeqｕal.Ｙｅaｈ，iｔ'sobviouｓ，ｂｕtwhｙ?Ｂｅcauseｉｆyouweiｇh,sａytｈrｅeｂalｌsagaiｎsｔｆiｖe,ｙouarenotrｅｃeivinｇａnyｉnｆorｍａtion．Iｎaprobｌeｍｌikethｉs,youａreｔryｉnｇtｏrecｅivｅasmuchinｆorｍationaspｏｓsｉbｌeｗiｔheachｗｅｉgｈing．Ｆorｅxａmple,ｏnｅｏfｔhefirstmistakｅspeoｐlemaｋeｗｈeｎexamｉniｎgthisprｏｂｌemisthattｈeyｂｅｌievetｈｅfｉｒsｔweiｇhingｓｈoｕldinｖolvealloftｈeｂａｌls(６agａiｎｓt6).Thisｗeighingｉnvolｖeｓallofthebalｌs,buｔwｈａttyｐeofinｆormａｔioｎｄoesthiｓｇiveyｏu?Ｉtactｕallygｉveｓｙounｏneｗinformaｔiｏn．Youalｒeａdyknｏwthatｏｎeoｆｔhｅsｉdｅswillｂｅhｅavier,andbｙweｉghiｎｇ6against６,yoｕｗillsimplyconfｉｒｍｔhisｋnｏwlｅdge.Ｓtｉll，ｙoｕwanｔtoｇaininformationａbouｔasmanyballsasｐｏssｉbｌｅ(soweigｈing1against１ｉsｏbｖiousｌｙnotagoodｉdea)．Ｔhusthebestｆirsｔweiｇhｉngis4agaiｎsｔ4.Thatway,yｏurｅｓerｖe４ｂalls,anｄcaｎobtaｉnsｏmｅinfoｒｍatiｏnａboｕteachsubsｅｔoｆ4.Ｓｅcondly,ifyoｕｔhinkthrｏugｈthｉspｒｏblemlongenoｕgh,ｙouwiｌlrｅａlizehｏwpreｃｉoｕsｔhｅinｆormaｔiｏngaｉnｅdfromaweｉghｉngis：Ｙounｅｅｄｔｏｔｒａnsferviｒtｕaｌlyevｅrypieceofinfｏrmationyouhａveｇainedfｒoｍoｎeweighingｔｏthenext.Sayyouweigh4ａgaiｎｓt4,andthｅscａｌebalaｎｃeｓ.Luckyyｏu！Nowyoｕknｏwｔｈatｔheｏddｂallisoneｏftheunｗeighed4.Bｕtdoｎ＇ｔgiveｉntｏｔheｉmpulｓｅtｏsimｐｌｙwｏｒkwiththｏsｅballs.Intｈｉsweighing,ｙou＇vealsoｌearｎedtｈatｔheｅightｂallsonｔｈescaleａrｅnoｒmal.Ｔrytoｕseｔhｉsiｎformatiｏｎ．Yｏumｕstbebothcrｅaｔiveandanalyｔiｃaｌ.Mｏstpeopｌewhowoｒｋｔhrｏｕghthisprｏblemconｓｉdｅrｏnlywｅiｇhinganumberofbａlｌsagaｉｎsteaｃhothｅｒ，andthenｔaｋinｇａnoｔｈersｅtandweighingthｅｍ,eｔc．Ｔhisｗoｎ'tdｏ.Ｔherｅａreａnｕmberｏfothｅrtypesofmｏveｓyouｃａnｍakｅ－ｙoｕcaｎrotatｅthebaｌls,fromonｅｓcalｅtoanｏther,ｙoucaｎswitchthｅbaｌls,ｅｔc．Let'sｌooｋａtonｅｓolution.Ｆorsimplicitｙ'ssake,wewiｌlｒefeｒtooｎesideofｔhesｃaleasSiｄeA,andtheotherasSｉdｅＢ.Step1：Ｗｅigｈ４balｌｓagａiｎst4otｈeｒsCａseA:Iｆ,onthefirｓtweighing,thebaｌｌsbalanｃｅIftheｂａlｌsiｎｏurfｉrｓtweighingbalaｎｃeweｋｎowtheoｄｄballisonｅｏｆtｈｏｓenotｗｅigheｄ,butwedon'tknｏｗｗheｔｈeritishｅａｖyorlight.Hoｗｃａnwegainthisinｆｏrmａtioneaｓily?Wｅｃanweigｈthｅmagainsttheballsｗｅknｏｗｔobenorｍal.Sｏ:Ｓtep2：ＰｕtｔhreeoftheｕｎweighedbaｌlｓontheSideA；puttｈrｅｅｂallsthａtareｋｎowｎtｏｂenormａlonSideＢ．I．Ifonthisseｃondweiｇhｉng,thescaｌeｂalanceｓａgain，wｅknowｔｈatｔｈefinalunｗeigｈeｄballisｔheｏdｄonｅ．a.Stｅｐ3.Weiｇhtｈeｆｉnaｌunwｅigｈedbａlｌ(theoｄdone)aｇａinstonｅofｔheｎoｒmalｂａlｌs.Ｗiｔhｔhisweighinｇ，weｄetｅrmiｎewhethertheoddbaｌlｉsheavｙorlightII．Ｉf,ｏntheotherhand，withthisseｃondweiｇhiｎg,thｅscａletiｐsｔｏＳiｄeA,weknowtｈaｔtheｏdｄballiｓheａvy.(IfittipstｏSidｅB，weknowtheoddballｉsliｇht，butｌet'sｐrｏceedwiththｅａｓｓＢrandManaｇeｍeｎtCａsｅQｕeｓtｉon：TheBrandLaunｃhWhｉleＷａllStreetmaycontrolourpurｓeｓtrinｇｓ,andＨollywoodmaycｏntｒoloｕrdreamsaｎdｉｍaginaｔｉonｓ,ｉtｉｓthe＂brandｍanaｇerｓ"ｗｈosｅguidｉｎghanｄssｈapeｅｖｅrytｈｉnｇwｅeatａｎｄweａｒ，ａndiｎｆact,shapeｔhewaywethinkａｂouｔtｈesｅthings．Tｈeｍｏｓｔｓouｇht－ａfterbrandmanａgemｅntpｏsitiｏnｓarewｉthlｅadiｎｇconsｕmｅｒpｒｏdｕctｓcoｍpａnｉｅｓsucｈasProｃter&GambleandGeｎerａlMills.Tｏclｉｍbtｏsｕcｈloftｙheiｇｈts，ｂraｎdｍaｎagers(ｓｏmeｔｉmesknowｎas"marketinｇmanagerｓ")uｎdergｏriｇｏrouｓinｔｅrｖiewstｈａtｏfｔeninvolｖｅcaｓequｅstions.Branｄcaseｓvarｙinbreａdtｈａnｄspecｉfiｃity-somemayｂeaboutｐｒomotions，ｓomeaｂoutｐｒicing,ｏtｈeｒｓａbｏutlong-teｒｍｓtraｔegｙ.Vauｌｔ.coｍｔaｋesａｌｏokａtｏｎetypeofｂrandcasｅ:tｈｅ"BrandＬaｕｎch."SＡMPＬEQUESTION：Ifoｕrcompａnywｅrelooｋiｎｇtointｒoduceａｃarpetｃleａneｒtoｏｕrｌineoｆprodｕcts,howwoulｄｙougoabｏutｄｅｖeｌｏpｉngabuｓinｅssplａn?Inｇｅneral，ｉntervieｗersａreinｔereｓteｄinwhatkiｎdｓｏｆquestionsyｏｕasｋ,aｎｄyｏurｕｎｄｅrstandｉngofmａrｋetｆoｒcｅs.Here,theinterｖieｗerisｌookingfoｒａnansｗerｔhａtdeｓｃriｂestｈe"ｐroｃess＂youwｏuldｕsｅindｅvｅlopiｎgabｕｓｉnesｓplan，noｔａｓkｉngｆorａbuｓinesｓplanitseｌf.Theinteｒviewerｍaybepleａsantｌysurprｉsedifyoｕhaｐｐｅnｔoknｏwthｅsizeｏfｔhｅcａｒpeｔｃleaneｒmａrｋet-bｕｔtｈeｙcｅrtainlydon＇texｐeｃtit．Here'sonｅapｐrｏacｈtoａtｔacｋinｇthiｓｃａse:STEＰ1:ANAＬYZETHＥMＡRKET:Theｆｉrstthiｎgthemarｋｅtｉｎｇmanａｇershoulｄｄoisgａtheｒalｌaｖａilabｌeinfｏrmaｔionaboutthemaｒket．Ｔheloｇiｃalｐｌaceｔｏstａｒtｗoulｄbethecarpeｔcleanerｍaｒketandｉｔsfｕture.Hｏwｌａrgｅisthecarpeｔcleaneｒmarketcuｒｒｅntｌy?Ｉｓitｅxpectedtｏgrowiｎtheｎextseｖｅｒａlyears?Ｗhataretｈemaincompａnｉesinvoｌｖed？Ｆｉｎally,ｈowoｆtｅnｉscarpeｔcｌeanersoｌd,anｄｉｎwｈaｔ"channelｓ"-inｇｒoceｒｙsｔorｅs,inhardwaｒｅｓtｏreｓ，ｉnconｖeｎｉencestores,asanimｐulsebｕｙ,asaneｍｅｒgencybuy,eｔc?STEP２:ASSＥSＳＹOURCOＭPANY'ＳSTRENGTHSＡNDWEAKNESSES:Ｔhenextisｓuｅsamaｒkｅtｅrshouldｂeawａreofaｒehisoｒherｃompaｎｙ'ssｔｒenｇtｈｓaｎdｗeaｋｎesseswhenitcoｍeｓtothiｓmarkｅt.Doeｓtheｃoｍpanｙpｒoduｃesｉmilarｐroｄｕcts,andｔｈereforehａveabａseofR＆Dexperｔiｓｅ?Doｅstｈecompaｎyｈavｅａdistrｉｂｕtｉonnｅｔwoｒkinpｌaｃｅ？Isthｅｃompaｎyｓitｔinｇonexｔrａcapitaｌiｔｉslookingtｏｉnvestintoapｒｏduｃtｌaｕnｃh?Mａｋｅsｕretoidentｉｆyｔhecｏmpａny'sweaｋnｅssｅsａsｗell.Ｐeｒｈapｓthecoｍpanyisbeｓtknｏｗｎaｍoｎghomｅｏｗneｒsforitｓｅasytouｓｅａｎddispoｓaｂｌｅcleaningpｒoduｃｔs-tｈisdeｍｏgrａphicｇroｕｐｍaynｏtｏｖerlａｐmｕchｗithｔhemａrketｆorcarpetclｅaner.STEP3：ASSESSCONＳＵＭERPＲEFERENCEＳ:Adiｌｉgeｎtｂrandwｉllａlsoconsiderbroaderｉssuｅｓiｎｄeｖｅlopingａbuｓinｅssplan.Ｏｎｅｍａｊorｃategoryofｔheseiscoｎｓｕｍerｐｒefｅｒenｃeｓ.Aｒehomｅownersoｐｔｉngｆorhaｒdwoodfloorｓandtｈrowｄｏwnrｕｇsｒathｅrtｈａnｃarpeｔing?SＴＥP4：ＣOＮSIDERMACＲOTRＥNDＳａnｄOTHERＩSSUＥS:Anotheｒmajｏrcｏｎcernformaｒkｅterｓisｍａjormacrotrendｓ，suchasdemoｇrapｈictrends.Wｈaｔisthｅkeydemographｉcgｒｏuptｈaｔusｅｓtｈｉsproduct?Isthisｇrｏｕｐbｅcomｉnglargeroveｒtiｍe,ｏrsｈrinｋiｎｇ?Areforeignmaｒketsbeginniｎｇtoconsumｅmｏreｃarpeｔcleaner？Ｌegａlａnｄreｇulaｔoryissｕesshoｕldalsｏbeconsｉdered．Areaerｏｓolｃarpetclｅaｎersbecomｉngｌｅｓsfeaｓiｂlｅbecauseofenvirｏnmenｔalregulations?STEＰ5:DETERＭIＮEOＵRCＯMＰＡNY'SOＢJＥCＴIＶES:Fｉnalｌy,youｍｕｓｔdetermｉneyoｕrcoｍｐany'sobｊectives.Ｂecausecｏnsumｅrtrendsarｅficklｅ，andtｅchnoｌoｇicａlinnoｖationｃanquickｌytranｓfoｒｍaｎｉndustｒy,ｂranｄstrａtｅgysｈouｌdinｇenerａlnotbetoofar-ｓiｇhteｄ．Ａｆiｖe-ｙearplanisagood,safeｗaｙtoｃompromiｓｅｔheneedfｏrlonｇ-tｅｒmstrategｙwiththeｐｉtｆaｌlsｐredictingfuturesｔrategyinevitａblybriｎgs.Iｎterviewｅｒsmayprｅsentyouｗiｔhobjｅctivesａttｈestarｔofｔhecase.Ifｔheydon't,ask.Ifnoobjectiｖesareproｆfered,fuｎnelyourｔｈinkingintotｈreemainaｒeas:marｋetｓharegｒｏwth,ｆinancialpｅrformanｃe,andbrａｎdidenｔｉty.GuesstimatesGueｓｓtimaｔｅsareｃoｍmonlyａsｋedincoｎｓｕltinｇａndｉnvestmenｔbaｎkｉngintervｉｅｗs．Generallｙ,yourinｔerviewerａsksyoutoestimaｔethenumberoｒsizeofsomｅtｈiｎg,ａndobservesyouｒｒｅａｓｏningproceｓs．Mｏstinｔervieweｒsdon'tcaｒeifyｏｕａｃtuaｌlygettheｃorｒectｎumbeｒ-wｈattheywanttｏseeiｓｔhatyｏuaｒeabｌetologｉcallythｉnktｈrougｈａprocess,creatｉvelythinｋtｈroughanypoｓsibleeｘceｐtiｏnsorsｈｏｒtcｕｔs,ａndcａlculatｅbasicｓumsｉnyouｒｈeaｄ.Youwｏn'tbｅgiｖenaｎyrealdata(thoughyouwon'tneedｔoknowmuchmoｒｅbeyoｎdthｅfaｃtthａｔtheUniｔeｄSｔateshasabout2７0millioninhabitaｎtsanｄ25millionｂｕｓineｓsｅs),aｎdyousｈｏuldｎ＇trｅquestａny；iｔ'siｒｒｅleｖantｔotheｐｒｏblｅｍａthand.Makｅｒｅａｓoｎaｂleaｓｓumptions,wiｔheasy-ｔo-wｏｒk-ｗiｔhｎumbeｒs，anｄgoｆromtheｒe(ｒｅmeｍbｅrthatｙou＇reexpecteｄtouseapeｎanｄｎoteｐａdｔｏworkthrouｇhyouｒcalculations).Theseguesｓtimatｅsmａｙalsoiｎｖolveelementｓofcreａtiviｔｙanｄｐｒoｂlemsolviｎｇ.Ｆｏｒeｘamｐle,whenpoｓｅdthｅquestiｏn"Howmuchchangewouldyｏufiｎｄoｎtheflooｒoｆａmall？"yｏumiｇｈｔwantｔoask"Isthｅreaｆountａiniｎｔｈｅmall?"Ｌeｔ＇stakｅalookaｔasａmｐlｅguesstiｍate:1.HowmanygａllonsｏfwhitehoｕｓeｐaiｎｔaｒesoldintｈeU．Ｓ.eachyear？ＴＨE"ＳTARTBＩG"AＰPRＯAＣH：Ｉfyou＇reｎoｔｓurewｈerｅtobegin，stａrtｗiｔhtｈebaｓicａssumptｉonｔhatthereａre270ｍｉlｌｉonpeoplｅｉｎｔheU．S.(or２5millionbｕｓineｓｓeｓ,depｅndｉnｇonthequｅstion).Iｆtherearｅ2７0millｉoｎpeoplｅinthｅUnitedSｔatｅs,pｅrhapｓhalfｏftｈeｍliｖeinhoｕses(oｒ135milｌioｎpeople）.Ｔheavｅrａｇeｆaｍilysizeisaｂouｔ３,sotherewouｌdｂe４5miｌlionhoｕsesinthｅUｎitedStateｓ.Let＇saddanｏｔher1０percentｔotｈａtfｏrsecoｎｄhｏuｓesaｎdhousｅｓusedfｏrothｅrpurｐosｅsbｅsｉｄesresｉdential.Sｏthereａｒeabout5０miｌｌionhｏuｓes.Ifhouｓｅsarepainｔedevery10yｅarsonaｖeｒage(ｎoticｅｈowweｄeｆtlymａkｅthaｔｎumbｅreａsyｔoｗorkwｉth),thenthｅreare5ｍilｌｉonhｏuｓｅｓpaiｎtedeveryｙeａr.Ａssuｍｉngtｈａtonegａlｌoｎoｆpａinｔcovｅｒｓ10０sｑuareｆｅeｔｏfwall,andtｈattheaverａｇeｈoｕsehａｓ2023sｑuａrefeetofwａｌltｏｃover,tｈeｎeachhouseneeds2０ｇaｌlonsofpaiｎｔ．Sｏ100milｌiongallｏnsofpaiｎtａresｏlｄpｅryeａr(5mｉllionhousesx20galｌoｎｓ).(Nｏte：Ifyouwanttobefancy,youcanａsｋyoｕrｉnterｖｉewerwhetheryoushouｌdinclｕdeinnｅrｗalｌｓａｓweｌl!）Ｉｆ80ｐeｒcenｔofallhousｅｓarewhｉte,then8０milｌiongａllonsofwhitｅhoｕsｅpａinｔaresｏlｄeａchyeａｒ．(Don'ｔｆｏｒｇeｔｔhａtｌasｔstep!)THE"STＡＲTＳMＡLL"AＰPRＯAＣＨ:Youcｏuldalsostaｒtsmall，andtakeaｔownof27,00０(aboutoneteｎｔhousandthoｆthepｏpｕlatiｏn)．Ifyouuｓｅｔｈesaｍeaｓsuｍpｔionｔｈathalfｔｈeｔｏwnlivesinｈouｓesingrouｐｓofthｒｅe,thｅntｈereａre4,５０0hoｕsｅs,plusａnotｈer10ｐｅrcent，thentherｅareｒｅａlｌｙ5,０0０hoｕｓestoｗorryaｂoｕt.Ｐａintedｅｖeｒｙ1０yｅars，500hｏｕsｅsarebeingpaintedinaｎｙｇiｖeｎｙear.Ifeachhｏusehａｓ2,０００squaｒｅfeetｏfｗaｌl,ａｎdeａchgallｏｎｏｆpaiｎtｃoverｓ100ｓquaｒefeet,ｔheneachhousｅｎeeds２0gallons－andso10,０00ｇallonsｏfhouｓepａｉｎtaresoldｅａchyeａrinｙourtypｉｃaltｏｗn.Peｒhａps８，０00ｏftｈosｅａrewｈite．Mulｔiplybｙ10,0００－yoｕhavｅ８0miｌｌiongａｌｌonｓ.Ｙourｉnterｖiewermaｙｔhenａｓkｙouｈowyouwoulｄａｃtualｌｙｇetthatnumber,ｏntｈｅjob，ｉfnｅcｅssary．Uｓeyourｃｒeativiｔｙ-contactingmajorｐaintproduｃerｓwouldbeｓmａrｔ，putｔｉngiｎacａlｌtoHUD'ｓｓtatｉｓticｓａｒmｃouｌdhｅlp,orｅveｎｃonductinｇasｍaｌlｓamｐｌeoｆtｈｅseｃondcalculaｔioninafewrepresｅnｔaｔivｅtownｓispossible.Otherｇuｅsstimａtes:HoｗｍｕchorａｎgejuiｃｅiｓconsｕmｅdeachｄayinAmerica？Hｏwmａnygolfｂallswoｕldfitｉｎtｏa７47？HoｗmaｎｙgrocerystｏresareｔhereinthｅＵ.S.?BｒaintｅａsｅrsHigh-techcomｐanies,inｖeｓtmeｎtbａｎksａndcoｎsulｔingfirmsarefamousｆorthｅiｒbｒaｉntｅasｅrs.Anyｏne,ａｆterａll,ｃancoｍｅuｐwitｈaｃaｎnedａｎswerｔｏdｉsplaytheirleaderｓhipaｎdmanageｍenｔskills-ｂｕtfewerpeoplecａnquiｃklycomeuｐｗiｔhｔhreeｓoliｄrｅasonswｈyamanｈoｌeｃovｅrisｒounｄ．Wｈｅｔheryｏｕ'reapｐlyingforaｔechnical，ｃｏrpｏratefiｎanceormaｒketingpositｉon,expｅcttogetaｆｅｗｏfthesｅｂeauties.Creativityanｄｍentalflｅxiｂｉｌitｙandspｅｅdaｒeoｆpａrａｍｏuntｉmportaｎｃetohigｈ-techｆirms,andｏnｅsurefirｅwaytｏｔeｓｔtheseｑｕaliｔieｓｉsｔｈroｕghｔheseｓlｉghｔｌyoffｂｅatquestions.Ｉfｙoｕｆｉeｌdonｅoftｈｅsebrａiｎteasers,yourinterｖieｗermaｙgiveyoｕatimelｉmｉt．Don＇tｂecomeflｕsteｒed.Simplytrytoｔｈｉｎkｔhrｏughtheｑuesｔionfrｏｍeveryaｎｇｌｅyｏucan.Mosｔquestiｏｎsrequireｅit