Case Study Preparation

Rachel Power

LSE Careers Service

Case studies are increasingly widely used in recruitment

• Consulting – management, economic

• Marketing – new products, market growth

• Finance – acquisitions, new ventures

• Digital industries – new idea launch

• Energy – exploration of new markets

• Non-profit – improving outcomes

Case study used to assess motivation, fit and skills

Problem solving

• analyse

• breadth & depth

• logical structure

• quantitative

• integrate

Interpersonal

• communicate

• get to point

• collaborate

• relate at different levels

Leadership

• impact, confidence

• maturity

• comfort with ambiguity

• drive & enthusiasm

Maths practice

The number of wi-fi hot spots in US last year was 72,000: up 60% from year before.

How many wi-fi hot spots were there the year before?

practise percentages, decimal points, fractions without calculator

Types of case studies • Market sizing

• Business issues

– Profit improvement

– Industry analysis

– Market entry

– Starting new company

– Developing new products

• Data analysis

– 5 slides of info, findings & recommendations

How to approach case study interview

• Do not jump to a solution!

• Clarify – understand the problem, paraphrase

• Structure – first I’ll look at…, then (breadth)

• Analyse – gather and analyse facts -develop problem (depth)

• Conclude – brief summary, integrate, solutions with ‘trade offs’

• Think out loud & take notes – engage interviewer

Structure

• What sort of problem is it?

• Phrases such as ‘improve profitability’ ‘enter the x market’, ‘manufactures jet engines. It is desirable industry to be in?’

• Opening question: “how would you approach this?”

Or

• “First I’d like you to…. specific

Profitability structure

“to understand what has happened to profitability I’ll use

Profit = revenue – costs formula this will help understand whether decline in profits is

due to loss in revenues (price x volume) or increase in costs (fixed costs + variable costs)”

Enter new market

External factors

industry competitors customers

Internal factors

state of business

Your structure v frameworks

Structure & headings • Profitability: P= R – C

• Enter market:

financials

market growth

competition

government/reg

• Cost benefit analysis

• SWOT

Frameworks – don’t force

• Porter’s 5 forces

• 4 Cs

• Kotler’s 4 Ps

Tips for case study interview

• Take clean notes – figures, structure • Ask questions and listen to answers • Don’t worry if you get figures wrong, continue • Maintain eye contact • Think out loud – logical process matters • Don’t force a framework • Conclude = you are going to meet the client,

what would you say, NOT a description of everything you have considered

• Recommendations – trade offs

Estimates and brainteasers

• Estimate the number of petrol stations in the UK

• Number of tennis balls you can fit into a jumbo jet

• Why are manholes round?

Estimate the number of petrol stations in the UK

Possible answer

65 million people in UK

1 car every 5 people = 13m cars

500 cars each petrol station

13m / 500 = 26,000

Tips for estimates

• Use round figures

• Assumptions are all important, most sensitive

• General knowledge - populations

• Formulae

– Volume of sphere / cube

Kensington Deli

• Our client is high quality delicatessen, in West London. It also sells home cooked ready made meals. It has experienced a downturn in profits over last 2 years.

• The client would like to know how to improve profits.

Kensington Deli

• Clarify

• What is question?

• What is question that hasn’t been articulated?

Kensington Deli Structure

“to understand what has happened to profitability I’ll use

Profit = revenue – costs formula

this will help understand whether decline in profits is due to:

loss in revenues (price x volume)

or

increase in costs (fixed costs + variable costs)”

Kensington Deli

• Structure 1

Revenues and costs

• Structure 2

Products/Pricing, Competitors, Customers

You can prepare for case study interviews

• Firms’ websites

• Read business news

• Brush up your maths (formulae, percentages)

• Practise with friend, group

• Friend – interviewer, evaluate under headings and give you feedback

Resources

• Wetfeet – Ace the Case, Vault guide to case studies

• Business Schools: Harvard, Wharton, Chicago

• The Case Study Handbook, William Ellet

• Case in Point, Mark P Consentino

• http://www.casequestions.com

• McKinsey, Bain, BCG etc

• www.mbacase.com