小灶kevin同学的case point读书笔记

CASEINKEYPOINTSOFCASEListentotheTakeSummarizethe[Afteryouaregiventhequestion,takeamomenttosummarizethehighlightsoutVerifythe[Professionalconsultantsalwaysask stoverifytheirobjectives.Eveniftheseemsobvious,therecouldbeanadditional,underlying[e.g:“Oneobjectiveistoincreasesales.ArethereanyotherobjectivesIshouldknowKEYPOINTSOFCASEAskbasicquestionsaboutthe6.[theindustry,thecompetition,externalmarketfactorsandtheproduct]—群面不用，要问细节问LayoutyourstructureandThinkandworkAdecisiontreeisamapofthereasoningprocess.Itallowsyoutoreviewyouroptionsandinvestigatethepossiblees,whileweighingtherisksandrewardsofeachcourseofaction.Restateyoursuggestionsandmakeasummarymendation,onlypicktwoorthreekeyASSUMPTIONS这种问题一般出现在单面里，不给任何信息，让你算市场规模，各种数量等等。如 共有多少 。解决方法是：假 与数字进行运算First，youcancreatesomeequationstohelpsolvethis.Suchas”thenumberofgasstationnationwide=stationsineachprovinces*thenumberofprovinces”,andfordetails,youcandevelopanotherequationtocountthenumberofprovinces.Thatisalogicalmethod.Thenyoucanmakeseveralassumptionswithrelativelyreasonable.Themostcommonassumptionsareaboutdetailednumberssuchasthenumberofprovinces.[Therearegoingstillconcerned,youcanalwayssay,“I’mnotthatfamiliarwiththismarket,soifmyassumptionsareoff,pleasecorrectme.”]Everythingyousayhasthepotentialtobequestioned—bereadytostandbehindyourassumptions.Yourassumptionsshouldbebasedinsomesortoflogic.Ifyoujustpullthemoutoftheair,you’reriskingtheintervieweraggressivelychallengingyourassumptionsandyourcredibility.Listentothequestion,thendeterminethetypeofcase,populationbased,household,generalpopulationorpreposterous(荒谬的).Layoutyourstructurefirstandthestepsyou’llneedtoanswerthequestion;thengobackthroughitwiththewrittennumbers。ASSUMPTIONSHowmanygasstationsarethereintheUS?(PopulationIliveinatownwithapopulationof30,000.Therearesixgasstationsservingourtown(notreally,butsixdividesnicelyinto30).Therefore,I’llassumethateachgasstationservesabout5,000customers.IfthepopulationoftheUSis300million,I’lljustdivide300millionby5,000andget60,000gasstationsinthecountry.（关于加减乘除法的英文表达要熟悉对于物体数量问题，先从身边事例进行样本数量假设，将这个数量与当地人口做关用总体人口来做运算标准，倒算出物体数其他方法都行，关键是假设要有一定标准，也就是说做出假设时先要说明理由，最好的假设就是数字事因此，查查全球多少国家，大国家多少人口，如，欧洲，；中国面积，省份数量，城市平均人口，都是有帮助关于household的表达（人口基础上细分家庭ThepopulationoftheUSis300millionpeopleTheaverageUShouseholdismadeupof3peoplesowearetalkingabout100millionhouseholds.(都处理成整数，查数据时也是，处理成整数回答，特别是能被3整除的)I’mgoingtoestimatethat50percentofthehouseholdsareeithersuburbanorI’mgoingtostartbystatingsomeassumptions.I’mgoingtoassumethatthepopulationoftheUSis320million,thatthelifeexpectancyis80years,andthattherearethesamenumberofpeopleineachagegroup(i.e.,thereistheexactsamenumberof3-year-oldsas73-year-olds).So,ifyoudivide320millionby80,youget4millionpeopleperagegroup.Iwillalsoassumea50/50splitbetweenmenandwomen.NUMBERNumberCases:Therearepurenumbercasesthatarereallyjustmathproblems.Therearealso“case-like”numberscases,whichseemlikestrategycasesbutarenot.AmericanExpress®isfacingstiffcompetitionfromahostofnewcreditcardsthathavenoannualfeeandlowinterestrates.Inresponse,AmericanExpressisconsideringdropits$50annualfee.Whataretheeconomicsofdropthe$50fee?Inordertoanswerthisquestion,youneedtoaskthreeHowmanycardmembersdoesAmexhave?Whatistheaverageamountthateachcardmemberspendsannually?HowwillAmex’scustomersbasechange,soastherevenuestreams?ysis—howtomakeupthe500millionByspendingmoremoney:thefeerevenuesmakeup55%ofthetotalrevenue.CustomersseemlyunrealistictodoubletheirpurchaseByincreasingcustomerbase.it’salsoimpossibletogetsharpincreasewith12.5millionpeopleSomyadviceiskeethefee Amexhas10ysis—howtomakeupthe500millionByspendingmoremoney:thefeerevenuesmakeup55%ofthetotalrevenue.CustomersseemlyunrealistictodoubletheirpurchaseByincreasingcustomerbase.it’salsoimpossibletogetsharpincreasewith12.5millionpeopleSomyadviceiskeethefee 50*10=500milliontotaltotal900Current:400million Compensate:X=12.5CHARTSCASE&NOTEasyoulookateachchart,Ithenumbers,roundthem howtheyarerelated trends derive you stepsthatwill are thechartform—is chartor aadeterminewhat NOTEGraphpapermakesiteasiertodrawyourBevisualwithyournotes.Drawboxes,graphs,arrows,trees,valuechainsandflowcharts.Whenappropriate,turnyournotestowardtheinterviewertoex inyourthoughtprocess.Itmakeshimfeelmorelikeateammemberandlesslikeaninterviewer.Graphpaperorganizesyournotes.Well-organizednotesmakeiteasierfortheinterviewertofollow.Whenheisn’tlookingintoyoureyes,he’slookingatyournotestoWhenitcomestimeforthecaseportionofyourinterview,ripfivepagesofgraphpaperandnumberthem(youcandothisbeforetheinterviewtosavetimeandlookwell-organized).Usingbulletpointswillmakeyournotesseembetterorganizedandmakeiteasiertogobacktofindinformation.Starorhighlightimportantpointsthatyouthinkwillmakethesummary.NOTESomestudentsuseaseparatesheetfortheirmath.Thatwayyourmainnotesstaycleanandlinear.Ifyoudouseaseparatesheet,makesurethatyoulabeleachcalculationsoyoucantieitbackInsomecases—particularlythosethataskforalistofnumberstheinterviewerwantsyoutofigureout,i.e.,market-size,price,break-even,andprofit,orthosethatcomparetwoormorestrategies,ideasoroptionsusingthesamecriteria—youcancreatethe“finalslide”rightatthebeginningofthecase.Nooneeverrememberstodothis,soifyoucanthinkofit,you’llscorebigpointswiththeinterviewer.Onaseparatesheetofpaper,drawachartlistingtheproductormarkets(whateveritisthatyouarecomparing)andbelowthat,thecriteria.Asyoucalculatethenumbers,filltheminonthefinalslide;thiskeepsallrelevantinformationinoneceandmakesiteasierfortheinterviewertofollowEnteringanewStep1:Findourobjectiveandestimateifitfitinto’soverallstrategyStep2:Determinethestateofthecurrentandfuturemarket.Size&growthWhereistheinitslifecycle?(Stageofdevelopment:Emerging?Mature?Declining?)rolesoftechnologyandhowquicklydoesitchange?Howwillthecompetitionrespond?Step3:evaluatethecompetitorstodeterminewhetherentryitwouldmakegoodbusinesssense.Usuallyusingthe5powerBesidescompetitors’marketshares,product(howdotheydifferfromours,quality?price?)Aretheresubstitutionsavailable?Arethereanybarrierstoentry?Examplesare:capitalrequirements,accesstodistributionchannels,proprietaryproducttechnology,ernment.Arethereanybarrierstoexit?Howdoweexitifthismarketsours?Whataretherisks?Forexample,marketregulationorStep4:Ifwedecidetoenterthemarket,weneedtofigureoutthebestwaytoeayer.IndustryStep1:InvestigatetheindustryLifecycle：Whereisitinitslifecycle?(Emerging?Mature?SizeandgrowthLaymajorchangeinregulationortrendornewWhatdrivestheindustry?Brand,products,sizeortechnology?5.Profitability.Whatarethemargins?Step Have rsbeenWhatisgoingonintheirindustriesStep3:WhatisthefutureoutlookfortheAreyerscomingintoorleavingtheHavetherebeenmanymergersoracquisitionslaWhatarethebarrierstoentryand/ortoWillsubstitutesbeMergersandStep1:DeterminetheWhyaretheybuyingit?Doesitmakegoodbusinesssense,oraretherebetterincreasemarketdiversifytheirpre-emptthegaintaxmarketing,financial,createshareholderStep2:Duediligence(尽职).ResearchtheandWhatkindofshapeistheHowsecureareitsmarkets,customersandHowistheindustryngoverall?Andhowisthisngcomparedtotheindustry?AretheyaleaderWhatarethemarginslike?Aretheyhigh-volume,low-margin,orlow-volume,high-HowwillourcompetitorsrespondtothisArethereanylegalreasonswhywecan’t,orshouldn’t,acquireStep3:HowmucharetheyIsthepricefair?Howaretheygoingtopayforit?CantheyaffordIftheeconomysours,cantheystillmaketheirdebtpayments?Step4:Exitstrategies,lookingforawayout.Howlongaretheynningtokeepit?Didtheybuyittobreakitupandselloffpartsof anewStep1:ThinkabouttheUniqueness:Istheproductpatented?Aretheresimilarproductsoutthere?Aretheresubstitutions?Normal:Whataretheadvantagesanddisadvantagesofthisnewproduct?Collaboration:Howdoesthenewproductfitinwiththerestofourproductline?Step2:Thinkaboutourmarketstrategy.Howdoesthisaffectourexistingproductline?Arewerecinganexistingproduct?Howwillthisexpandourcustomerbaseandincreaseoursales?WhatwillthecompetitiveresponseIfit’sanewmarket,whatarethebarrierstoenteringthisWhoarethemajoryersandhowmuchmarketsharedoeseachfirmhave?Step3:Thinkaboutourcustomers.WhoareourHowcanwebestreachthem?CanwereachthemthroughtheInternet?Howcanweensurethatweretainthem?Step4:ThinkaboutHowistheprojectbeingfunded?WhatisthebestallocationofCanwesupportthedebt?(Whatifinterestrateschange?Whatiftheeconomy: anewOneexcellentpointtomake ysisDonotmakecost-drivenpricing.Theonlythingthatworksisprice-drivencosting.Mostcompaniesarriveattheirpricesbyaddingupcostsandthenputtingaprofitmarginontop.Andthenassoonastheyhaveintroducedtheproduct,theyhavetostartcuttingtheprice,havetoredesigntheproductatenormousexpense,havetotakelosses-andoften,havetodropaperfectlygoodproductbecauseitispricedincorrectly.Theonlysoundwaytopriceistostartoutwithwhatthemarketiswillingtopay-andthus,itmustbeassumed,whatthecompetitionwillcharge-anddesigntothatpricespecification.PricingStep1:Investigatethethesameasthe“develoanewproduct”Step2:Chooseapricingstrategy.Istheincontrolofitsownpricingstrategies,orisitreactingtors,themarketanditsCost-basedpricingvs.price-basedcosting(i.e.,doyoudecidepricingbasedonhowmuchtheproductcoststoproduceoronhowmuchpeoplewillpay?)Whatdoesthemarketexpecttopay?Isita“musthave”DoweneedtospendmoneytoeducatetheStep3:Supplyanddemand.(You’llwinbigpointsforgraphingyouranswer.)What’sthesupply?How’sthedemand?Howwillpricinghaveaneffectonthemarketequilibrium?Step4:MakeyourdecisionBasically,therearefourmainwaystopricethepetitiveysis:Aretheresimilarproductsoutthere?Howdoesourproductcomparetothecompetition?Howaretheypriced?Aretheresubstitutionsavailable?Cost-basedPricing:Takeallourcosts,addthemupandaddaprofittoit.Thiswayyou’llknowyourbreak-evenpoint.3.Price-basedCosting:Whatarepeoplewillingtopayforthisproduct?Profitmarginsvarygreatlybyindustry.Grocerystoreshaveaverythinprofitmargin,whiledrugcompaniestraditionallyhavealargeprofitmargin.panyObjective:Whatisthemotivationbehindthepricing?Istheinterestedinprofits(usuallypricedhigher)ormarket-share(usuallypricedlower)?youneedtolookatallfourofthesestrategiesandseewhere,orif,theyGrowthStep1:determinethefocusingonacertaindivisionor IstheindustryAreourpricesinlinewithourWhathaveourcompetitorsdoneinmarketingandproductWhichsegmentsofourbusinesshavethehighestfutureDowehavefundingtosupporthighergrowth?Step2:Chooseagrowthstrategy.IncreasingIncreasedistributionIncreaseproductInvestinamajor DiversifyproductsorservicesAcquirecompetitorsor inadifferentStartingaNewStep1:ThesameastheenteringanewStep2:weshouldlookatthe fromaventurecapitalistpointofview.Wouldyou,asanoutsider,investinthisstart-up?Wouldyouriskyourownmoney?Venturecapitalistsdon’tsimplybuyintoanideaorproduct,theyinvestin:WhatisthemanagementteamWhatareitscorecompetencies?HavetheyworkedtogetherIsthereanadvisoryboard?MarketandStrategic WhatarethebarrierstoenteringthisWhoarethemajor yersandwhatkindofmarketsharedoeseach DistributionChannelsWhatareourdistributionStartingaNewWhatistheproductorWhatisthecompetitiveedge?Whatarethedisadvantagesofthisproduct?WhoareourHowcanwebestreachthem?CanwereachthemontheInternet?Howcanweensurethatweretainthem?HowistheprojectbeingWhatisthebestallocationoffunds?Canwesupportthedebt?(WhatifinterestratesCompetitiveStep1:Ifacompetitorintroducesanewproductorpicksupmarketshare,wewanttofirstasksuchquestionsas:Whatisthecompetitor’snewhowdoesitdifferfromwhatweWhathasthecompetitordoneHaveanyothercompetitorspickedupmarketStep2:ChooseoneofthefollowingresponseAcquirethecompetitoror yerinthesameMergewithacompetitortocreateastrategicadvantageandmakeusmoreIncreaseourprofilewithamarketingandpublic IncreasingStep1:Increasingsalesdoesn’tnecessarilymeanincreasingHowarewegrowingrelativetotheWhathasourmarketsharedonelaAreourpricesinlinewithourWhathaveourcompetitorsdoneinmarketingandproductStep2:Therearefoureasywaystoincreasesales.Determinewhichaction(orcombinationthereof)isyourbestIncreaseGetmoreincreasedistributionIncreaseCreateseasonalbalance.IncreasesalesineveryReducingStep1:AskforabreakdownofStep2:Ifanycostseemsoutofline,investigatewhy.Step3:BenarkthecompetitorsStep4:Determinewhetherthereareanylabor-savingthatwouldhelpreduceQuestionb:EEC’ssalesareflatandprofitsaretakingaheader.Howcanwefixthings?Internalcosts:unionwages,rs,materials,economiesofscale,increasedsupportsystemsExternalcosts:economy,interestrates,ernmentregulations,transportation/shipstrikesImprovingtheBottomLine:Wheneveryouhearthewords“bottomline”or“profits”youshouldimmediaythink:E(P=R-TheErepresentstheMrepresentsthemarketorYoualwayswanttolookatexternalfactorsfirst.Youwanttoknowwhetherthisisanindustrywideproblemoraproblem.Startwiththeeconomy.Spelloutyourtakeonthecurrenteconomy,justthepartsthatwoulddirectlyaffecttheorindustryoverall.Thisshowstheinterviewerthatyouknowwhat’sgoingonoutsidetheclassroom.GoinginsideStartbyreviewingtherevenuestreams.Ask,“Whatarethemajorrevenuestreamsandhowhavetheychangedovertime?”andwhatarethemajorcosts,bothfixedandvariable,andhowhavetheychangedovertime?”Itisalwaysgoodtoknowtrends.Becauseprofitsareanunderlyingthemeinmanycases,youneedtomakesurethatprofitisthemainsubjectofthequestionPrice,costsandvolumeareallinterdependent.YouneedtofindthebestIfyoucutpricestodriveupvolume,whathappenstoprofit?DoprofitsincreaseorThereneedstobeabalance.ThereasonbehindthedecisionneedstomakeImprovingtheBottomLine:Step1:UsetheE(P=R-C)Mframework.Startwiththeexternalfactorsfirst.Trytodeterminewhetherthisisanindustrywideproblemorjustaproblem.Step2:Onceinsidetheparentheses,askwhatthemajorrevenuestreamsareandhowtheyhavechangedovertime.Alwayslookattherevenue(“price”issometimessubstituted)sidefirst.Untilyouhaveidentifiedyourrevenuestreams,youcan’tknowwherebesttocutcosts.Whataretherevenuestreams?Wheredoesthemoneycomefrom?WhatpercentageoftherevenuedoeseachstreamDoesanythingseemunusualinthebalanceofpercentages?Havethosepercentageschangedlay?Ifso,why?Step3:Examineyourcosts.Askwhatarethemajorcosts,bothfixedandvariable,andhowhavechangedoverIdentifythemajorvariableandfixedHavetherebeenanymajorshiftsincosts(e.g.,labororrawmaterialcosts)?Doanyofthesecostsseemoutofline?Howcanwereducecostswithoutdamagingtherevenuestreams?BenarkcostsagainstStep4:Determinewhetheryouwanttopumpupthevolume.Ifso,youExpandintonewIncreasesales.Increasemarketing.Reduceprices.Improvecustomerservice.ImprovingtheBottomLine:Step1:Gatherlmeaboutthe.Whyisitfailing?Badproducts,badmanagement,badlmeabouttheindustry.AreourcompetitorsfacingthesameDowehaveaccesstocapital?Isitapublicorprivay-heldStep2:ChoosetheappropriateactionsfromthefollowingReviewservices,productsandfinances.(Areproductsoutofdate?Dowehaveahighdebtload?)Securesufficientfinancingsoyournhasachance.Reviewtalentandtemperamentofallemployees,andgetridofthedeadwood.Determineshort-termandlong-term Devisea n.Visits,rsanddistributors,andreassurePrioritizegoalsandgetsomesmallsuccessesunderyourbeltASAPtobuildFiveTheywillallowyoutotouchonallthemainpointsandappearfairlywellIfyourinterviewerdiscoversyou’reusingtheFiveC’sorFourP’s,youmightlosesomepoints;neitheroftheseframeworksisparticularlyimpressive.[FiveC’s:Whatdoyouknowabout ?Howbigisit?Isitapublicor ?Whatofproductsorservicesdoesitofferto Costs:Whatarethemajorcosts?Howhaveitscostschangedinthepastyear?Howdoitscostscomparetothoseofothersintheindustry?Howcanwereducecosts?Competition:Whoarethebiggestcompetitors?Whatmarketsharedoes yerhold?marketsharechangedinthelastyear?Howdoourservicesorproductsdifferfromthecompetition?Doweholdanystrategicadvantageoverourcompetitors? s:Whoarethey?Whatdotheywant?Arewefulfillingtheirneeds?Howcanwegetmore?Arewekee theoneswehave?Channels:Distributionchannels.Howdowegetourproductintothehandsoftheusers?Howcanweincreaseourdistributionchannels?Arethereareasofourmarketthatwearenotreaching?Howdowereachthem?Four [FourP’sWhatareourproductsandservices?Whatisthe’sHowdoesourpricecomparetothecompetition’s?Howwasourpricedetermined?Arepricedright?Ifwechangeourprice,whatwillthatdotooursalesvolume?Howdowegetourproductstotheenduser?HowcanweincreaseourdistributionDoourcompetitorshaveproductsincesthatwedon’t?Dotheyservemarketsthatwecan’treach?Ifso,why?Andhowcanwereachthem?Howcanwebestmarketourproducts?Arewereachingtherightmarket?Whatkindofmarketingnshasthe conductedinthepast?Weretheyeffective?Canweaffordtoincreaseourmarketing BCGThismatrixisdesignedtoceaproductorgroupofproductsintooneoffourcategorieswhiletakingintoaccounta ’srelativemarketshare.BCGhasbeenkindenoughtoletusreprintChapterThree.Tobesuccessful,a shouldhaveaportfolioofproductswithdifferentgrowthratesanddifferentmarketshares.Theportfoliocompositionisafunctionofthebalanceamongcashflows.High-growthproductsrequirecashinputstogrow.Low-growthproductsshouldgenerateexcesscash.Bothkindsareneededsimultaneously.Productswithhighmarketshareandslowgrowtharecashcows.Theygenerateamountsofcash,inexcessofthereinvestmentrequiredtomaintainshare.Thisexcessneednot,andshouldnot,bereinvestedinthoseproducts.Productswithlowmarketshareandlowgrowtharepets.Theymayshowanaccountingprofit,buttheprofitmustbereinvestedtomaintainshare,leavingnocashthrow-off.Low-market-share,high-growthproductsarethequestionmarks.Theyalmostrequirefarmorecashthantheycangenerate.Ifcashisnotd,theyfallbehindanddie.ItrequiresverylargecashinputsthatitcannotgenerateitselfThehigh-share,high-growthproductisthestar.Ifitstaysaleader,however,itealargecashgeneratorwhengrowthslowsanditsreinvestmentrequirementsdiminish.Thestareventuallyesthecashcow,providinghighvolume,highmargin,highstability,securityandcashthrow-offforreinvestmentelsewhere.BCGTheneedforaportfolioofbusinessesesobvious.Every needsproductsinwhichtoinvestcash.Every needsproductsthatgeneratecash.Andeveryproductshouldeventuallybeacashgenerator;otherwise,itisworthless.Onlyadiversified withabalancedportfoliocanuseitsstrengthstotrulycapitalizeonitsgrowthopportunities.Thebalancedportfoliohas:starswhosehighshareandhighgrowthassurethecashcowsthatsupplyfundsforthathighgrowthquestionmarkstobeconvertedintostarswiththeaddedfundsPetsarenotnecessary.TheyareevidenceoffailureeithertoobtainaleadershippositionduringthegrowthphaseortogetoutandcuttheFIVE PorterwritesthatthestateofcompetitioninanindustrydependsonfivebasiccompetitiveThethreatofneworpotentialentrants.Thisincludesnewcompaniesoracquisitionsofestablishedcompaniesbyanewyer.Ifbarriersarehighoriferscanexpectentrenentorretaliatorymeasures(suchasapricewar)fromexistingcompetitors,thenthethreatofentryislow.AccordingtoPorter,barriersofentryinclude:economiesofscalecapitalrequirementsernmentswitchingaccesstodistributionchannelsproduct