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CrackingtheCase:AConsultingInterviewPrimerPage1of3光華人向上的精神"FirmsAreTheretoHelpYouHYPERLINK"http:///main.cfm?inc=inc_article.cfm&chid=3&schid=7&WT=30&artid=98001"ConsultingIndustryGuideRememberyourseventh-gradealgebrateacher’sthreefavoritewords?"Showyourwork."Atthetime,itseemedsilly:Whynotjustshowtherightanswer?Nowthatyou’reolderandwiser,however,youknowthatinmanycaseshowyougettotherightanswerismoreimportantthansimplyknowingtheansweritself.Thesamegoesforthecasequestionsthatconsultingrecruiterslobatyou.Consultingisademandingjobwithfew"correct"answers;thismethodofinterviewinggaugeshowwellyoucessofgettingtoananswerandhowyouperformundersimulatedclient-engagementconditions.
?Wetalkedtoconsultant-huntersatseveralfirmstogleantheiradviceoncrackingthecaseinterview.Here'swhattherecruitersrevealed—andhowyoucanbestprepare.?
WhytheCaseInterview??Caseinterviewshavelongbeenusedbyrecruiterstoseeacandidate'sthoughtprocessesinmotion.Canyoudeconstructandanalyzecomplex,open-endedbusinessproblems?Doyoustaycalm,orwillyousweatbulletsunderpressureataclientsite?
?Atthemostbasiclevel,acaseinterviewisaboutaskingtherightquestions,developingalogicalwayofworkingthroughtherelevantissues,andarrivingatarecommendation.Yourstructuremaybeapackagedframeworkoritmaybevariousframeworksstrungtogether;youmayevenchoosenottouseframeworksatall.What'simportantisthatyoudemonstratesomedefinedstructure.
“Casestudiesareanimperfectscience,”concedesMichaelGibney,projectmanagerat(yī)PricewaterhouseCoopers,“butareeasilyimplementableinthe30to45minuteswehaveforeachinterview.”Sincetheymeasureyouranalyticalskills,they'reanimprovementoversimple"fit"or"resumé"interviews.?
Inmostcaseinterviews,therecruitergivesyouanexampleofareal-lifeclientproblem.Sometypicalcategoriesinclude:光華人向上的精神"BrainGames:“HowmanytennisballsareintheUnitedStat(yī)es?”O(jiān)perationsImprovement:“Whyismyclient’sfactoryrunningbehind?”MarketSize:“Howbigistheglobalairconditionermarket?”Althougheachrequiresaslightlydifferentapproach,allaremeantmainlytoevaluatetheprocessyouuse,nottheansweryoucomeupwith.
PracticeMakesPerfect
Youabsolutely,positivelymustprepareinadvanceforcaseinterviews.“Itbecomesprettyclearprettyfastwhohas—andwhohasnot—practiced,”saysGibney.“Iknowthereisabasicsortofbusinessacumenthat(yī)maynotbeabletobepracticed,butcandidatesmusthaveanunderstandableapproachtosolvingproblems.That’swhatourclientsdemandofus.Ifwecan’trelatesolutionstotheclient,it’saproblem.”
Don’tassumethatattendingacase-orientedbusinessschoolwillgiveyouanupperhand.JohnFlato,CapGeminiErnst&Young’snationaldirectorofuniversityrecruiting,saysthesecandidatesdon’tseemtodoanybetterorworsethancandidatesfromnon-caseschools.
Studydifferentkindsofcasequestions.Justbecauseyourbuddyinterviewedbeforeyouandgaveyouaheads-uponthequestionsdoesn’tmeanyouhavealegup.Recruitershavetonsofcasequestionsintheirrepertoire,andthechancesoftheirusingthesamequestionmultipletimesononecampusvisitareslimtonone.
光華人向上的精神?Getaclassmat(yī)eorfriendtorole-playtheinterviewwithyou,anduseanyresources(suchasacasebook)thatyourschool'sconsultingclubprovides.Themoremockcasesyousinkyourteethinto,themorelikelyyouaretoberelaxedandpoisedfortherealthing.Sometimesyoulearnmorebypresentingacasequestiontosomeonethanyoudowhensolvingthecaseyourself.?
Deliberat(yī)elypickindustriesyou'renotfamiliarwithsoastotestyouranalyticalskills,notmemorizedfacts;forinstance,ifyourpre-B-schoolexperienceismostlyinmediaandentertainment,askyourcasebuddytoaskyouaboutsteelproductionormedicaldevicemarketing.Thatsaid,doconsiderbrushinguponthebasicsinseveralindustries—forinstance,knowtheproductdevelopmentcycleinpharmaceuticalresearch,andunderstandcurrenttrendsintechnology.(Formoreinformat(yī)iononvariousfields,checkoutourHYPERLINK"http://www.mbajungle.com/main.cfm?inc=INC_TOCGeneric.cfm&listid=3&chid=3&schid=7&WT=37"industryguides.)Althougheachcaseisdifferent,withpracticeyouwillimproveyouranalyticalreasoningskillsandsolutionmethod.??ThinkThroughtheProcess?Whenitcomestostrat(yī)egyorproductmarketingquestions,theinterviewerwilloftengiveyouonlythebarebonesofacaseandwillwaitforyoutorequestfurtherdetails:Howmanycompetitorsdoesthecompanyhave?Whatarethemajorcostandrevenuedrivers?Whoarethemajorclients?Anddon'tforgettoaskforthefirm'smission—ifyoudon'tknowwhatacompany'sgoalsare,youmigheupwithavalid—butmisguided—solution.Usesomebasicframeworkstodriveyourquestions—thefourP'sandthethreeC's,forinstance.
AsamplequestionGibneyusedrecentlyinvolvedamanufacturer/distributor/retailerofcomputerproducts.Thisclienthastraditionallygonedirectlytotheconsumerandhasdevelopedasolidbrandimage.Theclientnowwantsanassessmentastotheissuesrelatingtothecorebusiness,aswellastheopportunitiesforthecompanytogetintotheservicesside,whichitviewsasahigh-margin/high-growth-ratebusiness.Thecandidatenowneedstoprovideanapproachorevaluativeframeworkforanalyzingeachofthetwodifferentproblems.
Aslongasit'spermitted,workyouranswersoutonpaper.Pencilsandpens,plusanotebookorlegalpadshouldbestandardequipmentinanyinterview.“It’samazinghowmanypeopleshowupwithoutapenandpaper,”marvelsKamennaRindova,aseniorassociateatMercerManagementConsulting.Thinkingthroughallthefactsisamust,and光華人向上的精神光華人向上的精神Page2of3[WebExclusive]Youdon'thavetobeSherlockHolmestoacethecasesinaconsulting-firminterview.Infact,alittlepreparat(yī)ioncanmakesolvingthemseem,well,elementary.HYPERLINK"javascript:openWindow('sidebars/sbpopup.cfm?artID=1691','yes',365,500,'no');"FirmsAreTheretoHelpYouHYPERLINK"http://www.mbajungle.com/main.cfm?inc=inc_article.cfm&chid=3&schid=7&WT=30&artid=98001"ConsultingIndustryGuideMaytheFiveForces(Not)BewithYouSomerecruitersareturnedoffwhenpotentialhiresdrawonapackagedanalyticalframework(suchasthefiveforces)tosolveaproblem.Others,however,areimpressed.Tobeonthesafeside,ifyouuseaframework,don’tstraytoofarfromtheissue.
?EileenCoveney,vicepresidentat(yī)L.E.K.Consulting,warnscandidatesabouttheperilsofframeworks:“Whenpeopledependtoomuchonapre-establishedframework,theymaynotbethinkingdeeplyenoughabouttheproblemathand.Thismayindicatethatwhenpresentedwithanactualclientissue,theyarenotgoingtofocusonthedetailsandspecificsoftheclient’sproblem.Rat(yī)her,theymaybeinclinedtojumpintoeasyandobvioussolutions.”??Ifyoudouseone,choosewisely.Ifthecaseisaboutabusinessthat'sconsideringentryintoanindustry,Porter'sfiveforcesmayindeedbeyourbestbet.Ifyou'retalkingabouthowproductsgetfromsupplierstoendconsumers,considerthevaluechain.Companiesthat(yī)arefallingshortonsalescoulduseaprofitabilityorcostvs.revenueanalysis.Ifyou'remarketinganewpharmaceuticalproduct,thinkaboutthe4P'sandthe3C's.
?光華人向上的精神光華人向上的精神光華人向上的精神光華人向上的精神Page3of3[WebExclusive]Youdon'thavetobeSherlockHolmestoacethecasesinaconsulting-firminterview.Infact,alittlepreparationcanmakesolvingthemseem,well,elementary.HYPERLINK"javascript:openWindow('sidebars/sbpopup.cfm?artID=1691','yes',365,500,'no');"FirmsAreTheretoHelpYouHYPERLINK"http://www.mbajungle.com/main.cfm?inc=inc_article.cfm&chid=3&schid=7&WT=30&artid=98001"ConsultingIndustryGuideReadyforsomecompany-specificadvice?Here'swhat(yī)fiverecruiterstoldusaboutinterviewingattheirfirms.??RecruiterNo.1:EileenCoveney,vicepresident,L.E.K.Consulting??TheQuestions:
Testingacandidate'sskillacrossarangeofareasistheprimaryreasonL.E.K.usescaseinterviews.Coveneyindicatesthatthecaseinterviewsaremeantto(1)assessacandidate’sanalyticalability,(2)evaluateacandidate'scommunicationskillsandlogicflow,(3)understandhowacandidaterespondstoredirection,and(4)testhis/heroverallfitwiththefirm.MostquestionsL.E.K.recruitersaskcenteraroundstrategicgrowthopportunitiesforpotentialclients.??WordsofWisdom:
Coveneypointsoutthat(yī)shedoesn’thaveapreferenceregardinghowacandidateinitiallyreactstothecaseinterviewquestion.“Somepeopletakesometimetoformulatetheirthoughts,otherpeopleaskafewquestions,andotherpeoplejumprightin,”Coveneysays.“Relaxandtakeyourtime,focusonthespecificissuesofthecase,rememberthereisnoonerightanswertothecase,anddon’tusetoomanyframeworks.Don’tthrowinthekitchensink,likePorter’sfiveforces,etc.Justbeconfident,andrelax—itwillreallyhelpwiththeinterview.”???RecruiterNo.2:KamennaRindova,seniorassociate,MercerManagementConsulting??TheQuestions:?MMCasksmostcandidatesone-on-onequestionsanddoesn’toftendogroupexercises.Reflectingthefirm’sfocus,mostquestionsdealwithstrat(yī)egyissues,withoccasionalmarketsizingquestionsthrownin.ThepurposeofterviewforMMCistoseethecandidate'sabilitytostructureandthinkthroughaproblemastheywouldonthejob.??WordsofWisdom:?Rindovasayspracticeandfamiliaritywithcasesisessential,andstressesthataninterviewcangosouthifthecandidatelosessightofthestructureheorsheisbuilding.Lastly,beatingaclearpathtoanyresponseismoreimportantthangettingitright.“Youcangive(arecruiter)awronganswer,butifyouthoughtoutloudthroughtheprocess,youcouldstillhaveastellarinterview,”Rindovaconcludes.??
RecruiterNo.3:ScottBerney,headofU.S.recruitingoperations,MonitorGroup
TheQuestions:?Determiningaperson’sanalyticalskills,comfortwithmanipulatingnumbers,andabilitytointegratedifferentpiecesofdataisthepurposeofthecaseinterviewforMonitorGroup.Forthefirstroundofinterviews,casequestionsareusuallywrittenandaretwotothreepagesinlength.Inthefinalround,agroupeventisused.?
WordsofWisdom:
“Mytakeonmostotherfirmsisthattheyputapremiumon[thecandidate’s]abilitytoaskquestionsintheinterview.Monitorcasesputapremiumonyourabilitytoanalyzedat(yī)a,manipulatenumbers,integrate,andcomeupwithananswerbasedonthedatayou’vebeengiven,”saysBerney.LikeL.E.K.’sCoveney,hedoesn’tliketoseecandidatesusetoomanyframeworkstosolveaproblem.
?
RecruiterNo.4:SeanHuurman,nationalrecruitingdirector,KPMGConsulting
TheQuestions:
“Thecasequestionhelpsgettoathicessandvariouscharacteristicsofacandidat(yī)eyoudon’tnecessarilygetinanordinaryinterview,”saysHuurman.“Whenweusecases,wearereallyfocusingonthingsthat(yī)tieintotheclient.”ThetypicalKPMGconsultanthunterwantstoknowhowacandidatecancommunicatewiththeteam,theirleadership,andtheclient.??Huurmanfavorsgroupinterviews,andknowsalotofcandidatescanbepreppedinadvance,buthenotesthatthere’s"noamountofcoaching"thatcanprepareyouforagject.
光華人向上的精神?WordsofWisdom:
“Toomanypeoplejumprightintothecasestudyanddon’tputanythoughtintoit,”saysHuurman.“Iwanttervieweestothinkthingsthrough.”KPMGrecruitersarealwaystoldtoletthecandidatehavesometimetothinkthroughthecase,butHuurmanindicatesthat(yī)veryfewcandidatestakeadvantageofit.??HuurmanadmitsthatfewrecruiterswouldaskintervieweeswhatKPMGstandsfor(curious?It'sKlynveld,Peat,Marwick,andGoerdeler),butit’simportanttodoyourhomeworkonthefirm’sservices,strengths,andculture.
?
RecruiterNo.5:MichaelGibney,projectmanager,PricewaterhouseCoopers
TheQuestions:
SomeofPwC’scompetenciesdon’trequirethatacasequestionbeasked,butit’bablybesttoplanforone.Interviewsaretypicallyone-on-oneandaremeanttotestthebusinessacumenofacandidate.Seeingcandidates'insightintobusinessproblemsandtheirapproachtosolvingthem(mostquestionsarebasedontrue-lifeclientengagements)istheoverallgoal.
?WordsofWisdom:
Gibneyunderstandsthatmanyproblemsaretoobigtosolveduringthecourseofahalf-hourinterview,butwantstoseeafirmgraspofkeyissues.“Thecandidatemusthaveanunderstandingoftheoverallsituat(yī)ionandtheoverallproblem,andthencreateanapproachtosolveit,”Gibneysays.“Forinstance,ifwe’retalkingaboutaclientgettingintotheservicesbusiness,Iwouldexpecttoseesomekindofframeworkaroundidentifyingwhatrelevantserviceswouldbe,andthedifferentmarketpanyfactorsinvolved.Iwantthecandidat(yī)etorelatedirectlywhatthecoreissuesare.”??MichaelK.Norrisisanexpertinconsultingandconsultantrecruitmentissues.Hecanbereachedat光華人向上的精神Firm:A.T.KearneyCaseNumber:Casesetup(factsofferedbyinterviewer):YourclientisamanufacturerofbicyclesTheyhavebeeninbusinessfor25yearsTheymanufacturerandsellthreecategoriesofbicycles:Racingbikes:Highend,highperformancebikesforsophisticatedcyclistsMainstreambikes:Durable,butnotoverlycomplicatedbikesforeverydayridersChildren’sbikes:Smaller,simplerversionsoftheirmainstreambikesforchildrenProfitsat(yī)yourclienthavedecreasedoverthepastfiveyearsQuestion:Whatisdrivingthedeclineinoverallprofits?Whatrecommendationsmightcorrectthesituation?Suggestedsolutions:Thefirstquestionistodeterminewhathascausedoverallprofitstodecrease.Toaccomplishthisthecandidat(yī)emustfirstunderstandwhathastranspiredineachofthethreeproductcat(yī)egoriesoverthepastfiveyearsduringwhichprofitabilityhasslipped.Thefollowingarequestionsandanswersthatwouldbeprovidedinaninterviewscenario.Whataretheclient’smarginsforabicycleineachofthethreesegments?Racing:Cost=$600/unit,Profit=$300/unitMainstream:Cost=$250/unit,Profit=$75/unitChildren’s:Cost=$200/unit,Profit=$50/unitWhathashappenedtothemarketsizeofeachofthethreesegmentsoverthepastfiveyears?Racing:Hasremainedconstantatitspresentsizeof$300MMMainstream:Hasincreasedat2%growthrateperyeartoitspresentsizeof$1.0BChildren’s:Hasincreasedat(yī)3%growthrat(yī)eperyeartoitspresentsizeof$400MMWhat(yī)hashappenedtoourclient’smarketshareineachofthesesegments?Racing:Marketsharehasdecreasedfrom60%to30%Mainstream:Marketsharehasincreasedfrom0%to5%Children’s:Marketsharehasincreasedfrom0%to3%Whoaretheclient’smajorcompetitor’sineachmarketsegment?Whathashappenedtotheirmarketshareineachsegmentoverthepastfiveyears?Racing:Thereisonemaincompetitorandahostofsmallfirms.Yourmaincompetitorhasincreasedmarketsharefrom30%to50%Mainstream:Thereexistmany,largecompetitors,noneofwhichholdsmorethan10%ofthemarketChildren’s:Asinthemainstreamsegment,therearemanycompetitors,nonewithmorethan10%ofthemarketTheaboveinformationprovidesenoughinformat(yī)iontoputtogetherapictureofwhyprofitshavedecreasedoverthepastfiveyears:Yourclient,withacommandingpositioninaflatmarketsegment(racing),expandedintonewsegments(mainstreamandchildren’s).Asthisoccurred,marketsharedecreaseddramaticallyinthemostlucrat(yī)ivesegment(racing),creat(yī)inganunfavorablemix.Theextenttowhichprofitshavedecreasedcanbededucedfromsomequickmath:profitshaveslippedfrom$60MMfiveyearsago(=60%x$300MMx33%racingmargin)to$44MMtoday(=(30%x$300MMx33%racingmargin)+(5%x$1Bx23%mainstreammargin)+(3%x$400MMx20%children’smargin)).Thedramaticdecreaseinmarketshareintheracingsegmentisat(yī)thispointstillunexplained.Questionsthatwouldhelpformulateanexplanat(yī)ioninclude:Havetherebeenanymajorchangesinproductqualityinyourclient’sracingproduct?Orinitsmaincompetitor’sraciduct?NoHavetherebeenanymajorpricechangesinyourclient’sracingproduct?Orinitsmaincompetitor’sracingproduct?NoHavetherebeenanymajorchangesindistributionoutletsforyourclient’sracingproduct?Orforitsmaincompetitor’sracingproduct?Yes.Previouslyyourclientanditsmaincompetitorintheracingsegmentsoldexclusivelythroughsmall,specialtydealers.Thisremainsunchangedforthecompetition.Yourclient,however,begantosellitsracingbikesthroughmassdistributorsanddiscountstores(thedistributionoutletsformainstreamandchildren’sbikes)asitenteredthemainstreamandchildren’ssegment.Howdothemassdistributorsanddiscountstorespricetheracingbikesrelativetothespecialtystores?Pricesatthesestorestendtobe15to20%less.Whatpercentofyourclient’sracingsalesoccurinmassdistributorsanddiscountstores?Effectivelynone.ThisattempttosellthroughthesedistributorshasfailedHowhasthedecisiontosellthroughmassdistributor’sanddiscountstoresaffectedtheimageoftheclient’sracingproduct?Nostudieshavebeendone.Howhasthedecisiontosellthroughmassdistributor’sanddiscountstoresaffectedyourclient’srelationshipwiththespecialtyoutlets?Again,noformalanalysishasbeenperformed.Althoughsomeanalysisand/orsurveyshouldbeperformedtoanswermoreconclusivelythelasttwoquestions,apossiblestorycanbeputtogether.Therehasbeennoappreciablechangeineitherqualityorprice(oranyothertangiblefactor)ofyourclient’sracingproductrelat(yī)ivetoitscompetition.Itisnottheproductthatistheproblem,butrat(yī)heritsimage.Asyourclientcameoutwithlowerend,mainstreamandchildren’ductsandbegantopushtheirracingsegmentthroughmassdistributorsanddiscountoutlets,theirreputationwascompromised.Additionally,thepresenceoftheracingproductsinthediscountoutletshasputyourhistoricracingdistributor(thespecialtyshops)inaprecariousposition.Thespecialtyshopsmustnowlowerpricetocompete,therebycuttingtheirownprofits.Instead,theyarelikelytopushthecompetition’sproduct.Remember,yourclienthasnodirectsalesforceattheretailoutlets.Thespecialtyshopsessentiallyserveasyourclient’ssalesforce.Theaboveanalysisoffersanexplanationofwhathasaffectedthetopsideoftheprofitabilityproblem.Stilltobeexaminedisthecost,orbottomside,oftheprofitabilityissue.Questionstouncovercostissueswouldinclude:Howdoestheclientaccountforitscosts?Theclienthasasinglemanufacturingandassemblyplant.Theyhaveseparatelinesinthisfacilitytoproduceracing,mainstreamandchildren’sproducts.Theydividetheircostsintothefollowingcategories:labor,mat(yī)erialandoverhead.Overallcostshavebeenincreasingatafairlyheftyrateof10%peryear.Whatisthecurrentbreakdownofcostsalongthesecategoriesforeachproductsegment?Racing:Labor=30%,Material=40%,Overhead=30%Mainstream:Labor=25%,Material=40%,Overhead=35%Children’s:Labor=25%,Material=40%,Overhead=35%Howhasthismixofexpenseschangedoverthepastfiveyears?Inallsegments,laborisanincreasingpercentageofthecosts.Doesthebasicapproachtomanufacturing(i.e.themixoflaborandtechnology)reflectthatofitscompetition?Yourclienttellsyouthatthereisacontinuingmovementtoautomateandutilizetechnologytoimproveefficiencythroughouttheindustry,butitishis/heropinionthattheirapproach,maintainingthe“humantouch”,iswhatdifferentiat(yī)esthemfromthecompetition.(Unfortunately,he’sright!!)Istheworkforceunionized?YesWhatistheaverageageoftheworkforce?52andclimbing.Thereisverylittleturnoverintheworkforce.Whatisthepresentthroughputrating?Howhasitchangedoverthepastfiveyears?Presentlytheplantisproducingatabout80%ofcapacity.Thishasbeendecreasingsteadilyoverthelastseveralyears.What(yī)isthetypicalreasonforequipmentshutdown?EmergencyrepairDescribethepreventivemaintenanceprogramineffectattheclient’sfacility?Preventivemaintenanceisperformedinformallybasedontheknowledgeofseniortechnicians.Howoftenhasequipmentbeenreplaced?Isthisconsistentwiththeoriginalequipmentmanufacturer’srecommendations?TheclientfeelsthatmostOEMrecommendationsareveryconservative.TheyhavefollowedaphilosophyofmaximizingthelifeoftheirequipmentandhavegenerallydoubledOEMrecommendations.Theaboveinformationissufficienttoaddsomeunderstandingtothecostsideoftheequation.Yourclienthasanagingworkforceandplantthat(yī)isbehindthetimesintermsoftechnologyandinnovat(yī)ion.Thishascontributedtoexcessivebreakdowns,decreasedthroughput,increasedlaborrates(wagesincreasewithseniority)andgreat(yī)erlaborhours(overtimetofixbrokenmachines).Inproposingrecommendationstoimprovetheclient’ssituat(yī)ion,thereisnosinglecorrectapproach.Thereareanumberofapproachesthat(yī)mightbeexploredandrecommended.Thefollowingaresomepossibilities:Abandonthemainstreamandchildren’ssegmenttorecoverleadershipintheracingsegmentIssuestoconsiderinthisapproach:Howmuchoftheracingsegmentis“recoverable”?Whataretheexpectedgrowthrat(yī)esofeachsegment?Howbadlydamagedistherelationshipwiththespecialtyoutlets?Aretherealternativeoutletstothespecialtyshopssuchasinternetsales?Howwillthismoveaffectoverallutilizationoftheoperatingfacilities?Maintainthemainstreamandchildren’ssegment,butsellunderadifferentnameIssuestoconsiderinthisapproach:Istheredemandamongthemassanddiscountdistributorsforbicyclesundertheirname?What(yī)additionaladvertisingmotionscostsmightbeincurred?Whataretheexpectedgrowthratesofeachsegment?Whatisdrivingthebuyinghabitsofthemainstreamandchildren’smarket?Reducecoststhroughautomat(yī)ionandinnovationIssuestobeconsidered:Whattechnologicalimprovementsaretobemade?Whataretherequiredinvestments?What(yī)aretheexpectedreturnsonthoseinvestments?Howwilltheseinvestmentsaffectthroughput?Towhichlinesaretheseinvestmentsappropriate?Arethemainstreamandchildren’ssegmentspotentially“over-engineered”?Whatimpactwillthishaveontherequiredworkforcelevels?Iflayoffsarerequiredtoachievethebenefits,whatimpactwillthishaveonlaborrelations?ReducecoststhroughestablishingaformalpreventivemaintenanceprogramIssuestobeconsidered:Whatorganizationalchangeswillberequired?WhatanalysiswillbeperformedtodeterminetheappropriateamountofPM?Whattrainingisrequiredoftheworkforce?Whattechnicalorsystemchangesarerequired?Howwilltheunionizedworkforcerespond?Keytakeaways:Thiscasecvetobelengthyandveryinvolved.Itisnotexpectedthatacandidatewouldcoveralloftheabovetopics,butratherworkthroughselectedtopicsinalogicalfashion.Itisimportantthatthecandidatepursueasolutionthatconsidersbothrevenueandcostissuestoimpfit.Additionally,aconadidate’sabilitytoworkcomfortablywiththequantitativesideofthiscaseisimportant.Theaboverecommendationsforimprovingprofitabilityarejustafewamongmany.Thecandidat(yī)emaycomewiththeirownideas.Firm:A.T.KearneyCaseNumber:Casesetup(factsofferedbyinterviewer):YourclientisaU.S.basedmanufacturerofbrandedcookies(cookiesthatcarrythenameofthemanufacturer)Recentlyprivat(yī)elabelcookies(thosecarryingthenameoftheretailer)haveemergedandthreatenedbrandedcookiesPrivat(yī)elabelcookiesemergedfiveyearsagoTwoandone-h(huán)alfyearsagotheymadeup10%oftheoverallcookiemarket(brandbeingtheother90%)Todaytheymakeupapproximately20%oftheoverallcookiemarket(i.e.,therehasbeenasteady,linearincreaseofprivatelabelportionoftheoverallcookiemarketduringthepastfiveyears)Theoverallcookiemarkethasbeenrelat(yī)ivelyflatoverthepastfiveyearsPrivatelabelcookiesaremadebythesamemanufacturerswhomakebrandedcookies,theyarejustsoldunderthenameoftheretailerThereareessentiallythreemajorcompetitorstoconsider:Yourclient,whomakesonlybrandedcookiesAsecondmajorplayer,thatmakesbothbrandedcookiesandsuppliescookiesforprivatelabelersAcollectionofsmalloutfits,that(yī)makebothbrandedcookiesandsupplyprivatelabelersDistributionoccursprimarilythroughoneoftwotypesofoutlets:Groceryoutlets:allgrocerssellbrandedcookies,mostalsocarrytheirownprivatelabelcookies.Thisrepresentsapproximately90%oftotalcookiesalesMassmerchandisers(ex.Walmart,Sam’s,etc.):sellonlybrandedcookiesQuestion:HowlargewouldyouestimatetheoverallU.S.cookiemarkettobeintermsof$?Howlargeofathreat(yī)doyoubelievethetrendinprivat(yī)elabelcookiesalestobetoyourclient?Basedonyourassessment,whatisanappropriatestrategyforyourclienttofollow?Suggestedsolutions:Thefirstquestion,estimat(yī)ingthesizeoftheU.S.cookiemarket,hasnorightorwronganswer.Itisatestofacandidate’sabilitytomakereasonableassumptionsandworkquicklywithnumbersonan“orderofmagnitude”level.OneacceptableresponsewouldbetoestimatethenumberofU.S.households,estimatehouseholdconsumptionoversomeperiodoftime,estimat(yī)etheaveragecostofabagofcookies,andprojectoutforoneyear.Inthiscase,afteranestimatehasbeenmade,thecandidatewouldbetoldtoassumethemarketsizeis$1Billiontosimplifyanyfuturecalculations.Asstatedintheupfrontinformation,themarketisassumedtohavebeenflatforthepastfiveyears.Thesecondquestionismoreinvolved.Itinvolvesdeterminingtowhatextentyourclientisthreat(yī)enedbytheincreasingpercentoftheoverallcookiemarketrepresentedbyprivatelabelsales.Tobetteranswerthisquestioninformationshouldbegatheredpertainingtowhat(yī)isdri
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