“the easiest way to define the problem is to isolate the problem by using the process of elimination to identify what the… — Victor Cheng Problem Copy Share Image
“In this example, being “accurate enough” gets the job done in four weeks, whereas being “precisely accurate” requires six weeks.” — Victor Cheng Copy Share Image
“Competitor behaviors (customer segments, products, pricing strategy, distribution strategy, brand loyalty)” — Victor Cheng Brand loyalty Copy Share Image
“The overall mix between the two types of analysis is 70/30: 70 percent quantitative and 30 percent qualitative.” — Victor Cheng Quantitative Copy Share Image
“Based on this, my working hypothesis is that Omega & Omega must participate more effectively in this market segment if it wants… — Victor Cheng Investing Copy Share Image
“Never, ever propose a solution to a case until you’ve isolated and defined the problem. Then and only then can you propose… — Victor Cheng Problem Copy Share Image
“If these three supporting statements are true, they provide reasonable support that the hypothesis is correct and thus should be considered a… — Victor Cheng Copy Share Image
“This process-of-elimination approach ends once you’ve proven every branch of your issue tree (which may have been revised several times) and can… — Victor Cheng Copy Share Image
“In this last example, it would’ve been much better to say, “Under most circumstances, the client should do X.” It’s much easier… — Victor Cheng Copy Share Image
“In consulting, you always pick and choose your words carefully, because you need to be able to back up anything you say.… — Victor Cheng Copy Share Image
“Consultants use four tools to solve clients’ biggest problems. You can use the exact same tools to tackle any type of case… — Victor Cheng Copy Share Image
“Because we spent so much time on it, I thought it deserved a mention in the synthesis. Obviously I was wrong; the… — Victor Cheng Big picture Copy Share Image
“Once this happens, no matter where I am in the framework, I immediately synthesize, revise my hypothesis, and determine what is the… — Victor Cheng Copy Share Image
“Below are some of these initial questions: Who is the customer? What are the customer’s segment needs? What is each segment’s price… — Victor Cheng Customer Copy Share Image
“Candidate: OK, so a few big players control half the market, and a bunch of smaller players participate in the other half… — Victor Cheng Copy Share Image
“The more concentrated the competition, the more you have to worry about it. If you don’t realize when a case involves high… — Victor Cheng Customer Copy Share Image
“The Mergers and Acquisitions Framework You might use the mergers and acquisitions framework to address cases in which one company wants to… — Victor Cheng Business Copy Share Image
“The rest of the industry appears to have grown sales by 10 percent, with profits growing proportionally. This indicates that the industry-wide… — Victor Cheng Customer Copy Share Image
“If you understand the revenue concentration in a few key competitors (or the lack thereof), you get a sense of how much… — Victor Cheng Customer Copy Share Image
“If you know a product’s life cycle, you can time your strategic decisions. A product is at the end of its life… — Victor Cheng Life Copy Share Image
“Candidates commonly and mistakenly interchange sales with profits. A company that wants to grow profits wants something completely different than does one… — Victor Cheng Business Copy Share Image
“Candidate: Given this circumstance, my revised hypothesis is that to jump-start growth, Omega & Omega has to find some way to participate… — Victor Cheng Customer Copy Share Image
“even suggest that candidates audio-record themselves communicating their synthesis, play it back, and analyze it. If even one word is off, rerecord… — Victor Cheng Communication Copy Share Image
“You want to run this conclusiveness test on each branch of your issue tree (to see if perhaps that branch should be… — Victor Cheng Copy Share Image
“Candidate: OK, things have remained flat during this time. I wonder if this is an industry-wide problem or a company-specific problem. Is… — Victor Cheng Candidate Copy Share Image
“The framework consists of four key components. I draw this framework as four distinct boxes, but you could quite easily redraw it… — Victor Cheng Copy Share Image
“I can’t emphasize enough how critical it is for you to realize that a framework is really just an issue tree, and… — Victor Cheng Copy Share Image
“Clients do not accept factually accurate recommendations; they accept factually supported recommendations they can understand. Those last three words are worth gold,… — Victor Cheng Copy Share Image
“Candidate: To better understand what’s going on for Omega & Omega and its industry, we need to look at four key areas:… — Victor Cheng Business Copy Share Image
“It’s perfectly acceptable and highly encouraged for you to say, “Hmmm, if half the market is growing and the other half is… — Victor Cheng Investing Copy Share Image
“In the U.S. criminal justice system, someone accused of a crime cannot be convicted unless evidence demonstrates that person’s guilt “beyond a… — Victor Cheng Criminal justice Copy Share Image
“Clients probably have a lot of intuitive problem solvers on staff already, and each employee has his or her own opinion. But… — Victor Cheng Problem solving Copy Share Image
“In my experience, the two most useful comparisons to make are the following: Compare a metric to itself in a previous time… — Victor Cheng Comparisons Copy Share Image
“You should synthesize the case not only at the end of the interview but also throughout the case. Most candidates don’t use… — Victor Cheng Interview Copy Share Image
“quantitative analysis is often not useful in determining why a certain decision in a client organization was made and how certain processes… — Victor Cheng Analysis Copy Share Image
“Partners sell “phase 2” of an engagement by indicating what additional certainty the consulting team could’ve discovered if it’d had more time.… — Victor Cheng Copy Share Image
“Synthesis involves stating your conclusion in a way that Tells the client what to do Tells the client what you discovered and… — Victor Cheng Business Copy Share Image
“If there isn’t any obvious segmentation pattern, avoid stating the segmentation pattern you want to see. Instead, phrase your question such that… — Victor Cheng Copy Share Image
“consumer demand is strong, growing, and likely to stay that way.” Depending on the case interview format your interviewer uses, you will… — Victor Cheng Customer Copy Share Image
“Once you understand the company’s distribution channel mix (the percentage of sales from each channel), you typically will want to compare it… — Victor Cheng Business Copy Share Image
