All approach consulting hopefuls needs to grasp the case interview. This WetFeet Insider advisor offers pointers on surviving the case interview; a proof of different case kinds, with vintage examples of every; seven perform case questions you should use to perform using your new talents; specific examples of ways to reply to every one kind of case query, together with pattern interview scripts. BUS037020
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Extra resources for Ace Your Case! Consulting Interviews (WetFeet Insider Guide)
You might start by saying something like, “To assess this opportunity, we’d have to look carefully at the costs and benefits of the proposal and try to quantify them wherever possible. For example, some of the key costs of a new automated order processing system would probably involve the hardware and software development, the marketing to support the new program, and customer service. . On the benefit side, we’d want to look not only at the new-client business that could be generated, but also at the incremental business that could be drawn from existing customers.
Try sketching this case question below. Remember, demand curves are downward sloping! Price Quantity 36 Copyright 2003 WetFeet, Inc. (Don’t peek! ) Marginal Cost Analysis Application: Questions Asking about Profits or Operations Marginal cost analysis is one of those nice specialized mini-frameworks that makes an ideal add-on to a larger, more general framework such as cost/benefit analysis. Since microeconomics is really economics of the firm, there is a good chance that you will be able to apply some of your favorite micro-charts or insights to a particular business problem you get from the interviewer.
Think about the airline business. Profitable regional carriers have often had trouble expanding their business to a national market. Although some systems costs go down as scale increases, other costs may actually rise. Workers may unionize and negotiate higher wages, equipment costs may go up, advertising costs may increase, and the costs of establishing new facilities in different cities may be quite high. Competitor actions don’t always make sense. The dynamic of competitor inter- actions may make nonsense out of your precise industry analysis.