Tuck_Guide_To_Case_Interviews

....................TuckConsultingClub1999-2000GuidetoCaseInterviewsTuckSchoolofBusinessatDartmouthCollege2..........TableofContentsANoteFromTheEditors.............................................................................3SomeThoughtsOnCaseInterviews..........................................................4PreparingForCaseInterviews....................................................................7StrategicTools&Frameworks....................................................................9EconomicsFrameworks............................................................................19Finance&AccountingFrameworks.........................................................22SampleCases…AnIntroduction..............................................................25SampleCase&SuggestedSolution.........................................................28GeneralInterviewQuestions.....................................................................30ProfitabilityCases.......................................................................................32MarketEntry&GeneralStrategyCases...................................................50MoreCaseQuestionsToTry.....................................................................82MarketSizing&EstimationCases............................................................83MoreMarketSizing&EstimationCasesToTry...............................86Brainteasers................................................................................................87TheResumeCase..............................................................................92CasesWithSlides..............................................................................933..........ANoteFromTheEditors…Whenitcomestocaseinterviews,thecliché'practicemakesperfect'works.ThisbookisacompilationofcaseswhichTuckstudentsandalumnihavereceivedduringinterviews.Thebestwaytousethisbooktoprepareforinterviewsistopartnerupwithotherstudentsandpracticethecaseswitheachother.Suggestedframeworksandanalysesfollowthecasequestions.Whilethesesuggestionsshouldhelpgiveyousomedirection,donotlimityouranalysestotheframeworksrecommendedwitheachcase.Thereisnotusuallya“right”waytoanalyzethecase,noristherea“right”answer.Often,interviewersaremoreinterestedinhowyoustructureyourthinkingthaninwhat“answer”youcomeupwith.Usetheframeworksyouhavelearnedinconjunctionwithyourownpersonal,creativeinsights.Greatthankstoeveryonewhohascontributedtothisguide.Specialthankstothefollowingindividualsfortheirworkontheguideovertheyears:PavanChahalT’94VishyGanapathyT’95SteveRitchieT’95KarlSiebrechtT’96RaymondYueT’96SylviaKonzeT’97KeriDoganT’98MikeGibneyT’98RohanPalT’98ClayAdamsT’99CarlaDeykinT’99KyleKeoghT’99WeintheConsultingClubsincerelyhopethatthisguidecontinuestoservewelltheTuckcommunity.AllenGoveT'00,ParagDesaiT'00&MaryBethKeillerT'001999Editors4..........SomeThoughtsOnCaseInterviews…ProfessorPhilAndersonANoteOnFrameworksBythetimeyoubeginyourcaseinterviews,Iwouldlikeyoutofeelveryconfidentthatyoucanlistentoadescriptionofasituation,andrapidlyputtogetherasystematic,logicalwayofanalyzingit.Iwantyoutobeabletosaytoyourself,“I’vepracticedthisforseveralweeks;IknowIcandothis.”Aframeworkcanguideyourintelligentquestioningoftheinterviewer,letsyoulayoutyouranalysisinacoherentmanner,andletsyouapplyyourexperiencetothecasebypointingouthowthecaseisaninstanceofamoregeneralproblemtowhichyourexperienceapplies.Icannotoveremphasizethatthisisaskilldevelopedthroughpractice.Thereisnosubstituteforconfrontingacase,buildingyourownsystematicwaytoanalyzeit,thenimprovingyourmodelthroughdiscussionswithothers.Neverbeafraidtoexposeyourmodeltoothersforfearthatitiscrude,incomplete,orwrong.Allframeworkshaveholesinthem.That’sthewholepointofpracticing—tolearnhowtoimproveyourinitialmodelssothatbyDecemberorJanuary,youwillhavearicherandmoresophisticatedsetoforganizingschemastodrawupon.Andtheywillbeoriginal.Howmanytimesdoyouthinktheaverageinterviewerhasheardsomeoneapplyafiveforcesmodelora2x2matrixtothesameproblem?Whatisaframework?Theworldisconfusing,andtounderstandcause-effectrelationships,wehavetodistillmostproblemstotheiressence.That’swhattheorydoes,highlightthemostimportantaspectsofasituationthataccountformostofthevariancebetweenspecificinstancesofthesituation.Youmightcalltheseimportantaspects“drivers”or“criticalsuccessfactors”or“independentvariables.Ifourmodeloftheworldisalmostascomplexastheworlditself,itisnotveryuseful—modelshelpusunderstandandpredictonlywhentheystripaproblemdowntosomethingwecangrasp,asmallsetofkeydrivingforcesthatwecanfocusonwhileignoringotherthingsthathavefarlessexplanatorypower.Ifyougiveamanagerachecklistof37thingstofocuson,s/hesimplycannotgrasptheessenceoftheproblem.Ifyoucanhighlightamuchsmallernumberofdriversandarticulatetherelationshipsamongthem,s/henotonlycangrasptheproblembutcanapplythoseinsightstoother,similarproblems.Frameworks—orcallthemmodels,analyticalschemas,analyticallenses,conceptualmaps,etc.—showthekeycauseandeffectrelationshipsthatyouthinkapersonshouldfocusont