CaseStudey面试案例分析

VaultGuidetoCaseInterview-Page

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VaultGuideToCaseInterview

CHAPTER1:INTRODUCTION

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Whythecase?

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Whatisacase?

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Typesofcaseinterviews

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Skillsassessedinthecaseinterview

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WhatkindofcasewillIget?

CHAPTER2:CASESTRATEGIES

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Yourobjective

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Top10caseinterviewtips

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Groupcases

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Commonproblemsandtroubleshooting

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Thinkingaboutthecase

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Specifictypesofbusinesscases

CHAPTER3:CASEFRAMEWORKS

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Yourcookbook

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Basicconcepts&frameworks

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Basicaccountingconcepts

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TheBalanceSheet

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TheIncomeStatement

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TheStatementofRetainedEarnings

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TheStatementofCashFlows

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Advancedconcepts&frameworks:netpresentvalue

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TheCapitalAssetPricingModel(CAPM)

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Porter'sFiveForces

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Productlifecyclecurve

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Strategytool/frameworkchart

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TheFourPs

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TheFourCs

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TheFiveCs

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ValueChainAnalysis

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Corecompetencies

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Benchmarkingand"bestpractices"

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The2x2matrix

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TheBCGMatrix

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M&Acases:Determiningthevalueofanacquisition

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Aframeworkcaution

CHAPTER4:BEINGTHERE

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Let'spretend

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Thecase

CHAPTER5:BUSINESSCASES

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Practicequestions

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Thinkingstrategically

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UsingtheFourPs

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SailingtheFiveCs

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Moresamplecases

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Pressure/stresscases

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Awrittencase

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Thefinancialcaseinterview

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M&Acases

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Additionalpracticequestions

CHAPTER6:GUESSTIMATES

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"Guesstimate"casequestions

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Acingguesstimates

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Theextrastep

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Practiceguesstimatequestions

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Otherguesstimates

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Andtrytheseforpractice...

CHAPTER7:BRAINTEASERS

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Thedrill

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Practicebrainteasers

CHAPTER8:FINALANALYSIS

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Finalanalysis

CHAPTER9:APPENDIX

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Consultingglossary

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Recommendedreading

Chapter1:INTRODUCTION

SUB-CHAPTERS:<Whythecase?>

Whatisacase?

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Typesofcaseinterviews

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Skillsassessedinthecaseinterview

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WhatkindofcasewillIget?

Whythecase?

Yourimpressiveresumemaygetyouaninterviewwithaconsultingfirm,butitwon'tgetyouthejob.Consultantsknowthataresume,atitsverybest,isonlyatwo-dimensionalrepresentationofamulti-faceted,dynamicperson.Andbecauseconsultingfirmsdependonemployingthosemulti-faceted,dynamicpeople,thefirmsrelyheavilyonthecaseinterviewtoscreencandidates.Theinterviewprocessisespeciallypertinentintheconsultingindustry,sinceconsultingprofessionalsspendthelion'sshareoftheirbusinessdayinteractingwithclientsandcolleagues,andmustthemselvesconstantlyinterviewclientemployeesandexecutives.

Furthermore,consultantsmusthaveaselectsetofpersonalityandleadershiptraitsinordertobesuccessful.Aconsultant'sworkenvironmentisextremelyturbulent.Therearenonstopengagementteamchanges,hostileclientenvironments,countlesspoliticalinfluences,andnear-perpetualtravel.Thesefactorsdictatethatanindividualbecoolunderpressure,beinfluentialwithoutbeingcondescending,behighlyanalytical,havetheabilitytounderstandthegranularaspectsofaproblemwhilesimultaneouslyaggregatingthemtoseethebigpicture,andhavetheabilitytoself-policeabalancebetweenpersonalandprofessionallifestyle.

Consultantsareoftenstaffedinsmallgroupsinfar-flungareas.Asaresult,theindividualmustbeabletofunction,andfunctionwell,withoutmanyofthetraditionalworkplacestandards:apermanentworkingspace,theabilitytoreturnhomeeachnight,easilyaccessedservicessuchasadministrativeassistance,faxing,andphotocopying,andthecamaraderiethatdevelopsamongco-workersassignedtothesamebusinessunit.

Allthesefactorsnecessitateauniqueinterviewstructurefocusedonassessingacandidate'sabilitytomanagetheseparticularcircumstanceswithprofessionalismandexcellence.Thecaseinterviewhasevolvedasamethodforevaluatingthesecharacteristics.

Whatisacase?

Simplyput,acaseinterviewistheanalysisofabusinessquestion.Unlikemostotherinterviewquestions,itisaninteractiveprocess.Yourinterviewerwillpresentyouwithabusinessproblemandaskyouforyouropinion.Yourjobistoasktheinterviewerlogicalquestionsthatwillpermityoutomakeadetailedrecommendation.Themajorityofcaseinterviewersdon'thaveaspecificanswerthatyou,thecandidate,areexpectedtogive.Whattheinterviewerislookingforisathoughtprocessthatisatonceanalyticalandcreative(whatconsultantslovetocall"out-of-the-box"thinking).Specificknowledgeoftheindustryinquestionisabonusbutnotnecessary.Businessschoolstudentsandcandidateswithsignificantbusinessworldexperiencereceivecasequestionsthatrequireadeeperunderstandingofbusinessmodelsandprocesses.

Theinterviewwithaconsultingcompanynormallylastsabouthalfanhour.Ofthistime,about10minutesistakenupwithpreliminarychatandbehavioralquestionsandfiveminutesofyouraskingquestionsaboutthecompany.Thisleaves15minutesforyourcaseinterviewquestionorquestions.Makethemcount!

Typesofcaseinterviews

Whatcaseinterviewsarenotdesignedtodoistoexploreeducational,professionalorexperientialqualifications.Ifyou'vereachedthecaseinterviewstage,takeadeepbreath-theconsultingfirmhasalreadyweighedyourbackground,GPAandexperienceandfoundyouworthyofadeeperskillassessment.Thismeansthatthecaseinterviewisyourstolose.Triumphoveryourcaseinterviews,andchancesarethataslotatthefirmwillopenforyou.Caseinterviewsvarywidely,butingeneraltheyfallintothreegroups:businesscases,guesstimates,andbrainteasers.Thesequestionsaredesignedtoassessaparticularsetofcandidatecharacteristicsthatanindividualwouldberequiredtopossessaspartofthetacticaland/orlifestyleaspectsofbeingaconsultant.

Caseinterviews

Caseinterviewsvarysomewhatintheirformat.Theclassicandmostcommontypeofcaseinterviewisthebusinesscase,inwhichyou'representedwithabusinessscenarioandaskedtoanalyzeitandmakerecommendations.Mostcasesarepresentedinoralform,thoughsomeinvolvehandouts,andafew(likeMonitorCompany's)areevenentirelywritten.(Thatis,theinterviewerwillnotcontributeanyotherinformationbesideswhat'sonthehandout.)Anothervariationonthecaseinterviewthatisbecomingmorepopularisthegroupcaseinterview,wherethreetosixcandidatesaregroupedtogetherandtoldtosolveacasecooperatively.Consultantsfromthefirmwatchassilentobservers.Thoughyoushouldcertainlybepreparedforthesevariationsoncaseinterviews,youaremostlikelytocomeacrossthetraditional,classicmano-a-manocaseinterview.

Guesstimates

Whetherfree-standingoraspartofacase,learninghowtomake"back-of-the-envelope"calculations(rough,yetbasicallyaccurate)isanessentialpartofthecaseinterview.Aspartofaguesstimate,youmightbeaskedtoestimatehowmanywatermelonsaresoldintheUnitedStateseachyear,orwhatthemarketsizeforanewcomputerprogramthatorganizesyourwardrobemightbe.Youwillnotbeexpectedtogettheexactnumber,butyoushouldcomeclose-hencetheguesstimate.(Forexample,youmightneedtofigureoutthemarketsizeforthewardrobesoftwareasafirststepindetermininghowtoentertheEuropeanmarket.)Non-businessschoolstudentsandotherswhoappeartobeweakquantitativelymaygetstand-aloneguesstimates-guesstimatesgivenindependentlyofacase.

Brainteasers

Brainteasersarenormallylogicpuzzlesorriddles.Theymaybetimed.Often,brainteasersaremeanttotestbothanalyticand"out-of-the-box"thinking,aswellasgraceunderpressure.

Skillsassessedinthecaseinterview

Followingyourcaseinterview,yourconsultinginterviewerwillcompleteawrittenevaluationform.Theevaluationformsoftenincludealistofqualities,traitsandabilities,andasktheinterviewertoassessthecandidateagainstthelist.Followingisalistofthesespecialtraitsthat,accordingtoconsultinginsiders,interviewerswillbekeepinganeyeoutforasyouworkthroughthecaseinterview:

Leadershipskills

You'llhearthisfromeveryconsultingfirmoutthere-theywantleaders.Why,youmightask,wouldaconsultingfirmneedaleader?Afterall,manybeginningconsultantsareconsignedtoindependentnumber-crunchingandresearch.Thefactis,however,thatconsultantsareoftencalledupontoworkindependently,shapeprojectswithverylittledirection,anddirectothers.Youshoulddemonstrateyourleadershipskillsbytakingchargeofthecaseinterview.Askyourquestionsconfidently.Inquirewhetherthecaseinterviewrelatestotheinterviewer'sownexperience.Whileyourresumeandpreviousleadershipexperiencewillprobablymoststronglyconveyyourleadershipability,yourdemeanorinthecaseinterviewcanhelp.

Analyticalskills

Thecorecompetencyofconsultingisanalysis-breakingdowndata,formulatingitintoapatternthatmakessense,andderivingasensibleconclusionorrecommendation.Youshoulddisplaythisskillthroughyourefficient,on-targetandaccuratequestionswhilewrestlingyourcasetoasolution.

Presentationskills

Thecasepresentationisanessentialpartofconsulting.Onceconsultantshaveanalyzedtheircaseengagementanddecidedonthepropercourseofaction,theymustpresenttheirfindingsandrecommendationstotheircaseteamandtotheirclients.Interviewerswillbewatchingyoucloselytoseeifyoustumbleoverwords,useinadvisablefillerslike"um"or"like"frequently,orappearjitteryunderclosequestioning.Remember:Whenyou'respeaking,slowdownandsmile.Ifaskedaquestionthattemporarilystumpsyou,takeadeepbreathandpause.It'salwaysbettertopausethanbabble.

Energy

Eventhemostqualifiedandanalyticalconsultantwon'tbemuchgoodifshequitsat5p.m.duringalongandarduousengagement.Interviewerslookforzestandenergy-firmhandshake,sincereandwarmsmile,brighteyesandbushytail.Rememberthatconsultingfirmsexpectyoutotakea10-hourflightandshowupatworkthenextday,alert,perkyandreadytogo.

Attentiontodetail/Organization

Consultantsmustbeaspainstakingasscientistsintheirattentiontodetail.Andconsultantswhojuggletwoormoreflightsaweekandengagementsallovertheworldmustbeextremelyorganized.Youcandisplaythisskillthroughadisciplined,logicalapproachtoyourcasesolution,andbyshowingupforyourinterviewprepared.You'llwanttotakenotes,sobringapadofpaperandapen.Interviewersnoticewhencandidatesmustaskforthesematerials.

Quantitativeskills

Thosespreadsheetsyou'llbeworkingwithasamanagementconsultantneednumberstofillthem.Consultinginterviewswillinevitablytestyourgraspofnumbersandyourabilitytomanipulatethem.Manyinterviewerswillassessyourquantitativeskillsbygivingyoua"guesstimate,"eitherwithinthecasequestionorseparately.

Flexibility

ConsultantsmayhavetoarriveattheofficeonedayandbepackedofftoWinnipegforsixmonthsthenext.Thiskindofflexibilityofscheduleismirroredinmentalflexibility.Totestyourgraspofacaseinterview,theinterviewermaysuddenlyintroduceanewpieceofinformation("Okay,let'ssaythefactoriesmustbeopenedeitherinCanadaorChina")orflipthetermsofthecaseinterview("Whatifthislaborcontractisnotguaranteed,asIsaidearlier?")andthenwatchhowquicklyyou'reabletoalteryourthinking.

Maturity

Consultantsmustoftenworkwithexecutivesandcompanyofficialsdecadesolderthantheyare.(Thisiswhyconsultantsaretaughttherightwaytoanswerthequestion"Howoldareyou?")Whatthismeansinaninterviewisaminimumofgiggling,fidgetingandreferencestoawesomefraternityeventsyoumayhaveattended,eveniftheinterviewerseemsreceptive.

Intelligence,a.k.a."mentalhorsepower"

Ratherstraightforward-consultinginterviewersarelookingforquicknessofanalysisanddepthofinsight.Don'tbeafraidtoaskquestionsforfearoflookingstupid-smartpeoplelearnbyaskingquestionsandassimilatingnewinformation.Atthesametime,askingyourinterviewertorepeatanelementary(orirrelevant)concept20timeswillnotburnishyourimage.

WhatkindofcasewillIget?

Whilethere'snowaytotellforsurewhatcasequestionyou'llget,therearesomethingsthatcantipyouofftothekindofcaseyou'llreceive.Ifyou'reanundergraduateorothernon-MBAstudent,youcanprobablybesafelyassuredofgettingacreativeor"open-ended"question."Wedon'texpectourundergraduatecandidatestoknowthatmuchaboutbusiness,"confidesoneinterviewer."Whatwedoexpectistheabilitytobreakdownandarticulatecomplexconcepts."UndergraduatesarealsomuchmorelikelytogetguesstimatesandbrainteasersthanMBAs.

Areyouabusinessschoolstudentorgraduate?Thenyourcasequestionwillprobablybelessopen-ended,anddrivetowardanactualsolution.Yourinterviewermaypositsomethingfromherownexperience-knowingwhatcourseofactiontheconsultancyactuallyendeduprecommending.Thisdoesn'tmeanyouhavetomakethesamerecommendation-butyou'dbetterbeabletobackupyourreasoning!Alternatively,onethingcaseinterviewerslovetodoislookatyourresumeandgiveyouacasequestionthatrelatestoyourpastexperience."Forexample,"saysoneconsultant,"ifyouwereontheadvertisingstafffortheschoolnewspaper,youmightbegivenaquestionaboutinvestinginadvertisingagencies."Forthisreason,adviseconsultants,"itmakessensetofollowuponyourfieldinTheWallStreetJournalbecauseyoumaybeaskedaboutrecentdevelopmentsinit.Ifyouknowwhat'sgoingonyou'llbethatmuchmoreimpressive."Someguesstimates,forexample,figuringoutthetotalworldwiderevenuesofTarzan,arebroadenoughsothatmostpeoplecanmakeareasonableassumptionofnumbers.

Chapter2:CASESTRATEGIES

SUB-CHAPTERS:<Yourobjective>

Top10caseinterviewtips

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Groupcases

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Commonproblemsandtroubleshooting

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Thinkingaboutthecase

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Specifictypesofbusinesscases

Yourobjective

Businesscasesinvolvereal-worldsituationsforwhichacandidateisprovidedwithasetoffactsaboutabusinessorbusinessproblem.Businesscasescanbepresentedasanarrativedetailedbytheinterviewer(mostcommon)oronpaper.Theymayalsotaketheformofacasestudy,wherethecandidateispresentedwithapacketoftextincludinggraphs,charts,financialinformation,andotherexhibits.

Regardlessoftheformat,theobjectiveofthebusinesscaseremainsthesame.Theinterviewerisattemptingtoassessyourabilitytosynthesizemanydifferentsituationalelementsintoacohesiveunderstandingoftheproblemathand.Asacandidate,youwillneedtodrawuponyouranalyticalabilities,businessexperience,anddeductivereasoningtocrackthecase.Inmostcases,thebusinesscasewillbetimed,andcanlastanywherefrom15minutestoanhour.(Whileyouwillusuallybegivenonlyonecaseinaninterview,youmaybegiventwoormoreshortercases.)

Insomesituations,businesscasesmaybepresentedwithlittleornoinformation.Theinterviewermaysimplytossoutafewfactslike,"Wehaveamulti-billiondollarconsumerproductsclientwithoperationsin15countries.Whatwouldyouadvisethem?"Thentheinterviewerfallssilent.Inadditiontoappraisingtheaforementionedskills,theinterviewermaydeliberatelychoosethisvaguenesstoassessacandidate'spoise,reactiontoanunfamiliarsituation,overallconfidence,andgraceunderpressure.

Don'tfret!

Thereareno"correct"answerstobusinesscasequestions.Infact,manytimesyouwillnotreachaconclusionbeforetheinterviewermovesontootherquestions.Thisisnotasignthatsomethinghasgoneterriblywrong.Theinterviewerisnotlookingforadefinitiveanswer,ratherheisassessingyourabilitytoanalyzeandsynthesizevariousfacts,clarifythesituation,andsetupaframeworkforpursuingotherinformation.Ifyouhavealreadysuccessfullydemonstratedthatyouhavethecapabilitytoperformthesetasks,yourinterviewermaywishtomoveontoadifferentsubjectorcase.

Top10caseinterviewtips

1.Takenotes

Asyourinterviewerpresentsyourcase,besuretotakecarefulnotesonthenumbersorotherfactsgiven.(Alwaysbringanotepadandapentoaconsultinginterview.)Ifyouplanondrawinggraphs,addbrowniepointsbybringinggraphpaper(whichshowsmajorforesight).Youdon'twanttobeputinthepositionofaskingyourinterviewertolaterrepeatinformation.

2.Makenoassumptions!

Asacaseinterviewee,youshouldnevermakeanyassumptions.Yourinterviewerwillinevitablyleavethingsoutofthecasepresentedtoyou.(Ifanapplejuicemanufacturerhasseenitsexpensesrisedramatically,forexample,yourinterviewerprobablywon'tmentionthetreeblightthat'sconstrictingsupplyofapples.)Youshouldassumethepersonaofanactualconsultanttryingtolearnaboutanassignment.Itmightseemobviousthatthereisnopreexistingworkplan(becauseiftherewas,whywouldthisbeacaseinterview?)butyoumaywanttoask.Youshouldalsoaskifthecompanyhasencounteredasimilarproblem,orwhatothercompaniesinthefieldhavedonewhenfacedwithsimilarsituations.Yourinterviewermaynotreleasethatinformationbutwillbeimpressedthatyouaskedthesesensiblequestions.Somegoodbasic"professional"questionstoask,whichapplytomostcases:

Whohiredus?

Howlongwillthisengagementlast?

Isthereaworkplan?

Hasthecompanyfacedthisproblem(oropportunity)before?Ifso,howdiditreact?Whatwastheoutcome?

Whathaveothercompaniesfacingthissituationdone?

Hasthefirmalreadydoneanyresearchintotheissue?Ifso,whatwereitsfindings?

3.Askquestions

Yourinterviewerexpectsyoutoaskquestions-asmanyintelligentquestionsasyouneedtoobtainanaccuratepictureoftherelevantfactsinthecase.Manyinexperiencedcaseintervieweesmaketheerrorofaskingtheirinterviewertoofewquestions.Theymaybeafraidthattheywilllookignorant,ornotwishto"bother"theinterviewer.Remember-notaskingquestionsisafatalerrorinacaseinterview.Ifyoudon'tknowthefirstthingaboutthehelicoptermarket,askhowmuchitcoststomanufacturearotor.Ifyouneedtoestimatethedemandforabeef-flavoredpotatosnackinWichita,Kansas,thenfeelfreetoaskthepopulationofWichitaandenvirons.

Youwilloftenfindthatyourinterviewerwilldirectyourlineofquestioningtoaspecificarea,butyoumustalwaysbereadytocontroltheconversationincasetheinterviewerdoesnotdirectyourreasoning.Ifyouareunsure,simplyasktheinterviewer.Forinstance,ifyoufindtheinterviewerofferinglittledirectionasyoumovethroughyourinitialquestions,youmaywishtoask,"Ifindthelackofariskassessmenttobeapotentialshowstopper.MightIasksomedetailedquestionsaboutthis?"Oryoumightsay,"Givenwhatyouhavetoldmeaboutthesituation,Iwouldliketofindoutmoreabouttheclient'scurrentrelationshipwithitsdistributionpartner.WouldthatbeOK?"Inthisway,youtakechargeofthelineofquestioningwithoutsteppingontheinterviewer'srole.

4.Listentotheanswersyouget!

Oneinterviewerwarns:"Manycandidatesgetsocaughtupinaskingtheperfectquestionsthattheydon'tlistentotheanswerstheyreceive.Theygothroughamentallistofallthequestionstheywanttoask,andignoretheresponsetheygot.Thatthrowsofftheirreasoning."Makesureyourespondtotheinformationyoureceive.

5.Maintaineyecontact

Alwaysmaintaindirecteyecontactduringthecaseinterview.Eyecontactiscriticalwhenansweringcasequestions-itdemonstratesconfidenceandauthority.Rememberthatinconsultingyoumayfindyourselfinfrontof20executivesatamajorcorporationpresentingastrategyyouwerebriefedononlyahalf-hourago.Andthenyouhavetoanswerquestions!Soyoucanseewhybusinesscaseinterviewingissoimportanttoconsulting-itsimulatestheworkenvironmentconsultantsmustfaceeveryday.

6.Takeyourtime

It'sperfectlyfinetotakeaminutetothinkthroughyouranswer-infact,mostinterviewersfinditpreferable."WheneverIaskedtotakethetimeouttocollectmythoughts,"reportsoneconsultantwho'sundergone"dozens"ofcaseinterviews,"myinterviewersalwayssaid'Okay,good,goahead.'"Ontheotherhand,while"aminuteofdeepthinking"isfine,"fiveminutesisreallyoverkill.Youdon'twantyourinterviewerwaitingthereforfiveminutes.Thecaseisonlysupposedtobe15or20minutes."

7.Layoutaroadmapforyourinterviewer

Afteryou'veselectedyourapproach,don'tkeepitasecret.Tellyourinterviewerwhatapproachyou'regoingtotake.Forexample,youmightsay,"First,I'mgoingtodiscusstheMexicanandCanadianmarkets.Second,I'llaskaboutourentrystrategy.Finally,I'mmakingarecommendation.""Oneofthemostimportantthingsconsultantshavetodoispresentcomplexideasinalucidmanner,"explainsoneinterviewer."That'swhyyoushouldtaketimetoexplainyourreasoning.Notonlywillitimpressyourinterviewerandallowyoutoconfirmanyassumptionthatyou'remaking,butitwillallowyoutogetyourownthinkingstraight."

8.Thinkoutloud

Inordertosuccessfullynavigatecaseinterviews,youwillneedtoactquicklyandconfidently.Thebusinesscaseisanopportunitytoshowtheinterviewerhowyouthink.Yourinterviewerwantstoknowthatyoucanreasoninarapidandlogicalfashion.Asyouassess,compile,andanalyzetheelementspresentedtoyou,besurethatyouspeakaloudandexplainyourreasoning.Thisistheonlywaytheinterviewercanassessyourperformance.

Now,youmaynotbeentirelycomfortablethinkingoutloud.Soifyou'renotfeelingconfidentthinkingaloud,trypracticingbyyourself.Startwithsomethingsimplelikeexplainingaloudtoyourselfhowtochangeatireorhowyoubrushyourteeth.Minimize"ums"andotherfillers,sothatwhatyousayisconcise,direct,andclear.

Next,trypracticingonfriendsorfamily.Havethemaskquestionsforwhichyoumustassessasituation.Forexample,theymightask,"I'mnotsureatwhichbankIshouldopenacheckingaccount.Whatarethetrade-offsbetweenBankXandBankY?"or"I'vegot$50tospendongroceries,sowhatshouldIbuy?"Evenspeakingtoyourselfinfrontofthemirrorwillbuildyourconfidencethinking"onthefly"whilesimultaneouslyspeaking.

9.Presentyourthinkinginaclear,logicalmanner.Whereuseful,useframeworksandbusinessconceptstoorganizeyouranswer.

Youshoulddevelopaframeworkforassessingcaseinterviewquestionswhichcanbeappliedtodifferentsituations.Ingeneral,inanysituationyouwillwantto:

Understandthescopeoftheengagement

Pinpointtheobjectives

Identifythekeyplayers

Beyondthis,youmaychooseanylineofquestioningorstructurethatyoufeelcomfortablewith.Asyoupractice,youwillfindyourselfdevelopingthisframeworkunconsciouslyasyouattempttogainclarityoverasituation.Captureandpackagethisframework,andhaveitavailablebymemory(oronpaperifyouwish)foruseatanytime.

Whereuseful,alsouseadvancedbusinessconceptsandframeworks-suchasPorter'sFiveForcesorValueChainAnalysis-(seechapteroncaseframeworks)tohelporganizeyourthoughtsandimpressyourinterviewer.

10.Quicklysummarizeyourconclusions

Youhavelimitedtimeinyourcaseinterviewtomakeyourpoint.Ifyouareuncomfortablewithquicklysummarizingyourconclusions,thinkaboutbeingfacedwiththisclassicsituation:

"AconsultantworkingforamultinationalcorporationinadvertentlybumpedintotheCEOofthecorporationwhilewaitingfortheelevator.Astheygotontheelevator,theCEOannouncedthathewasonhiswaytoaBoardofDirectorsmeetingonthe34thfloor.Hetheninstructedtheconsultanttobriefhimcompletelyonthemajorfindingsoftheprojectinthetimeittooktheelevatortogofromthe1stfloortothe34thfloor."

Whilethisisnodoubtanurbanlegend,itisextremelylikelythatyouwillencountertime-pressuredsituationsmanytimesinyourprofessionalcareer,especiallyinconsulting,wheretimeisapreciouscommodity.

Groupcases

WhileMonitorusedtobeoneofaveryfewconsultingcompaniesthatgaveagroupcaseinterview,itspopularityisincreasing(andhasbeensightedatAndersenConsultingandMcKinsey).Inagroupinterview,betweentwoandfivecandidatesaregivenacaseandaskedtopresenttheirfindingsinonehour.Afewconsultantsfromthefirmremainwiththecandidatestosilentlyobservetheirprogress.

Oneimportantthingtorememberisthatthegroupinterviewisnotazerosumgame."Everyonemaygetanoffer,ornoonemaygetanoffer,"confirmsoneconsultant.Thekeywithgroupcaseinterviewsistoshowyourkeenorganizationalandteamworkabilities.Don'tbullyyourfellowcandidates,butdon'tsitbackandquietlydoasyourtold.Onerecentgroupcaseintervieweesuggests,"Presentyourthoughtsonhowtodividetheanalysis.Listentowhatothershavetosay.Ifyoudisagreewiththeirthoughtsorestimates,sayso,butneverbedenigratingorrude.Looklikeyou'rehavingagoodtime.Otherwise,theanalysisisprettysimilartoaregularcase."

Commonproblemsandtroubleshooting

Eventhoughthecaseinterviewisn'tdesignedtostressyouout(brainteasersareanotherstory),invariably,consultingcandidatesgetnervousduringtheirinterviews."EvenMBAsgetnervous,"saysonebusinessschoolstudent."You'rereallyonthespotandyoukeepthinkingaboutthejob."

But,sayrecentinterviewees,don'tbesostressedthatyouassumethatyou'redoomed."Alotoftimes,you'llmakearecommendation,andtheinterviewerwillstartarguingforanotheroutcome.Theyarejustdoingthattoseeifyousticktoyourguns."Ontheotherhand,ifyou'vedoneananalysisbasedonanassumptionthatisblatantlywrong,andtheinterviewermakesthispointtoyou-"Well,don'tyouthinkyourestimationoftheannualconsumptionofelectricblanketsintheUnitedStatesas