Caseinterview分析工具框架Word文档下载推荐.docx

Caseinterview分析工具框架Word文档下载推荐.docx

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A.地理细分

B.人口细分（年龄及生命周期阶段细分,性别细分,收

入细分

C.心理细分（社会阶层,生活方式,个性特征

D.行为细分（购买时机-柯达,利益细分-牙膏,用户状

况,使用率,忠诚度

2.行业分析类

●市场（市场规模,市场细分,产品需求/趋势分析,客户需

求

●竞争（竞争对手的经济情况,产品差异化,市场整合度,产

业集中度

●顾客/供应商关系（谈判能力,替代者,评估垂直整合

●进入/离开的障碍（评估公司进入/离开。

对新加入者的反应,

经济规模,预测学习曲线,研究政府调控

●资金金融（主要金融资金来源,产业风险因素,可变成本/

固定成本

●风险预测与防范

3.新产品引入类

●营销调研

●产品?

价格?

即4P

●4C（Customer,Competition,Cost,Capabilities

●市场促销,分校渠道（渠道选择,库存,运输,仓储

●STP和4P（Product,Price,Place,Promotion

●产品生命周期

二.BusinessOperation

1.市场容量扩张（竞争对手,消费者,自己实力

2.利润改善型

●Revenue,Cost分析,到底是销售额下降造成,还是成本

上升造成

●如果销售额下降,看4P了（是价格过高?

产品质量问题?

分校渠道问题?

还是promotion的efficacy有问题?

●如果成本上升,看固定成本or可变成本是否有问题?

（固

定成本过高,设备是否老化,需要关闭生产线、厂房,降

低管理者工资等,可变成本过高,看原材料价格是否上升,

有没有降低的可能,switchsuppliers?

还是人员工资过

高,需要裁员等

●成本结构是否合理,产能利用率如何（闲置率

3.推销任何一种产品/服务

●4P,3c

4.定价

●以成本为基础的定价

成本加成定价,以目标利润（盈亏平衡定价

●以价值为基础定价

●以竞争为基础定价

三.MarketSizing/Estimation

●市场趋势,市场规模,市场份额,市场壁垒等

●市场集中度

●市场驱动因素（价格,服务,质量,外观

●关键成功要素KSF

四.M&

A类

●整合原因（synergy,scale,managementimpulse,Tax

consideration,Diversification,BreakupValue

●5C（Character,Capacity,Capital,Conditions,Competi

tiveAdvantage

●类型:

horizontal,vertical,congeneric,conglomerate

●估值方法:

DFC,MarketMultiple（EBITDA,P/E,P/B

●DFC:

ProFormaCashFlowStatement,DiscountRat

e

●HostileVSFriendlytakeovers

所有咨询公司面试可能用到的分析结构

Advancedconcepts&

frameworks

MBAsandothercandidateswithbusinessbackground,takenote-interviewerswillexpectyoutohaveamoredetailedtakeonyourcasethananundergrad

uatewouldhave.Herearesomecommonlyusedcaseconcepts.

Netpresentvalue

Perhapsthemostimportanttypeofdecisioncompanymanagersmustmakeonadailybasisiswhethertoundertakeaproposedinvestment.Forexample,shouldthecompanybuyacertainpieceofequipment?

Buildaparticularfactory?

Investinanewproject?

Thesetypesofdecisionsarecalledcapitalbudgetingdecisions.Theconsultantmakessuchdecisionsbycalculatingthenetpresentvalueofeachproposedinvestmentandmakingonlythoseinvestmentsthathavepositivenetpresentvalues.

Example:

HernandezistheCFOofWesternManufacturingCorp.,anautomobilemanufacturer.ThecompanyisconsideringopeninganewfactoryinOhiothatwillrequireaninitialinvestmentof$1million.Thecompanyforecaststhatthefactorywillgenerateafter-taxcashflowsof$100,000inYear1,$200,000inYear2,$400,000inYear3,and$400,000inYear4.AttheendofYear4,thecompanywouldthensellthefactoryfor$200,000.Thecompanyusesadiscountrateof12percent.Hernandezmustdeterminewhetherthecompanyshouldgoaheadandbuildthefactory.Tomakethisdecision,Hernandezmustcalculatethenetpresentvalueoftheinvestment.Thecashflowsassociatedwiththefactoryareasfollows:

HernandezthencalculatestheNPVofthefactoryasfollows:

Sincethefactoryhasanegativenetpresentvalue,Hernandezcorrectlydecidesthatthefactoryshouldnotbebuilt.

Thenetpresentvaluerule

NotefromtheexampleabovethatoncetheconsultanthasfiguredouttheNPVofaproposedinvestment,shethendecideswhethertoundertaketheinvestmentbyapplyingthenetpresentvaluerule:

Makeonlythoseinvestmentsthathaveapositivenetpresentvalue.

Aslongastheconsultantfollowsthisrule,shecanbeconfidentthateachinvestmentismakingapositivenetcontributiontothecompany.

TheCapitalAssetPricingModel（CAPM

Intheaboveexample,weassumedagivendiscountrate.However,partofaconsultant'

sjobistodetermineanappropriatediscountrate（rtousewhencalculatingnetpresentvalues.Thediscountratemayvarydependingontheinvestment.

Beta

Thefirststepinarrivingatanappropriatediscountrateforagiveninvestmentisdeterminingtheinvestmentsriskiness.Themarketriskofaninvestmentismeasuredbyits"

beta"

（?

whichmeasuresriskinesswhencomparedtothemarketasawhole.Aninvestmentwithabetaof1hasthesameriskinessa

sthemarketasawhole（so,forexample,whenthemarketmovesdown10percent,thevalueoftheinvestmentwillonaveragefall10percentaswell.Aninvestmentwithbetaof2willbetwiceasriskyasthemarket（sowhenthemarketfalls10percent,thevalueoftheinvestmentwillonaveragefall20percent.

CAPM

Oncetheconsultanthasdeterminedthebetaofaproposedinvestment,hecanusetheCapitalAssetPricingModel（CAPMtocalculatetheappropriatediscountrate（r:

Therisk-freerateofreturnisthereturnthecompanycouldreceivebymakingarisk-freeinvestment（forexample,byinvestinginU.S.Treasurybills.Themarketrateofreturnisthereturnthecompanycouldreceivebyinvestinginawell-diversifiedportfolioofstocks（forexample,S&

P500.

Shen,Inc.,acoalproducer,isconsideringinvestinginanewventurethatwouldmanufactureandmarketcarbonfilters.Shen'

schieffinancialofficer,Apelbaum,wantstocalculatetheNPVoftheproposedventureinordertodeterminewhetherthecompanyshouldmaketheinvestment.Afterstudyingtheriskinessoftheproposedventure,Apelbaumdeterminesthatthebetaoftheinvestmentis1.5.AU.S.Treasurynoteofcomparablematuritycurrentlyyields7percent,whilethereturnontheS&

P500stockindexis12percent.Therefore,thediscountrateApelbaumwillusewhencalculatingtheNPVoftheinvestmentwillbe:

Althoughthisisanoverlysimplifieddiscussionofhowconsultantscalculatediscountratetouseintheircash-flowanalysis,itdoesgiveyouanoverviewofhowconsultantsincorporatethenotionofaninvestment'

smarkettoselecttheappropriatediscountrate.

Porter'

sFiveForces

DevelopedbyHarvardBusinessSchoolprofessorMichaelPorterinhisbookCompetitiveStrategy,thePorter'

sFiveForcesframeworkhelpsdeterminetheattractivenessofanindustry.Beforeanycompanyexpandsintonewmarkets,divestsproductlines,acquiresnewbusinesses,orsellsdivisions,itshouldaskitself,"

Istheindustrywe'

reenteringorexitingattractive?

"

ByusingPorter'

sFiveForces,acompanycanbegintodevelopathoughtfulanswer.ConsultantsfrequentlyutilizePorter'

sFiveForcesasastartingpointtohelpcompaniesevaluateindustryattractiveness.

Take,forexample,entryintothecopystoremarket（likeKinko'

s.Howattractiveisthecopystoremarket?

Potentialentrants:

Whatisthethreatofnewentrantsintothemarket?

Copystoresarenotveryexpensivetoopen-youcanconceivablyopenacopystore

withonecopierandoneemployee.Therefore,barrierstoentryarelow,sothere'

sahighriskofpotentialnewentrants.

Buyerpower:

Howmuchbargainingpowerdobuyershave?

Copystorecustomersarerelativelypricesensitive.Betweenthechoiceofacopystorethatcharges5centsacopyandastorethatcharges6centsacopy,buyerswillusuallyheadforthecheaperstore.Becausecopystoresarecommon,buyershavetheleveragetobargainwithcopystoreownersonlargeprintjobs,threateningtotaketheirbusinesselsewhere.Theonlymitigatingfactorsarelocationandhours.Ontheotherhand,priceisnottheonlyfactor.Copystoresthatarewillingtostayopen24hoursmaybeabletochargeapremium,andcustomersmaysimplypatronizethecopystoreclosesttothemifotherlocationsarerelativelyinconvenient.

Supplierpower:

Howmuchbargainingpowerdosuppliershave?

Whilepaperpricesmaybeontherise,copierpricescontinuetofall.Theskilllevelemployeesneedtooperateacopyshop（forbasicservices,likecopying,collating,etc.arerelativelylowaswell,meaningthatemployeeswillhavelittlebargainingpower.Suppliersinthissituationhavelowbargainingpower.

Threatofsubstitutes:

Whatistheriskofsubstitution?

Forbasiccopyingjobs,morepeoplenowpossesscolorprintersathome.Additionally,faxmachineshavethecapabilitytofulfillcopyfunctionsaswell.Largecompanieswillnormallyhavetheirowncopyingfacilities.However,forlarge-scaleprojects,mostindividualsandemployeesatsmallcompanieswillstillusetheservicesofacopyshop.TheInternetisapotentialthreattocopystoresaswell,becausesomedocumentsthatformerlywouldbedistributedinhardcopywillnowbepostedontheWeborsentthroughe-mail.However,forthetimebeing,thereisstillrelativelystrongdemandforcopystoreservices.

Competition:

Competitionwithintheindustryappearstobeintense.Storesoftencompeteonprice,andarewillingto"

underbid"

oneanothertowinprintingcontracts.Storescontinuetoaddnewfeaturestocompeteaswell,suchasexpandinghoursto24-hourserviceandofferingfreedelivery.

Fromthisanalysis,youcanascertainthatcopystoresaresomethingofacommoditymarket.Consumersareveryprice-sensitive,copystoresareinexpensivetosetup,andthemarketisrelativelyeasilyenteredbycompetitors.Advancesintechnologymayreducethesizeofthecopystoremarket.Value-addedservices,suchaslatehours,convenientlocations,oradditionalservicessuchascreatingcalendarsorstickers,mayhelpcopystoresdifferentiatethemselves.Butoverall,thecopystoreindustrydoesnotappeartobeanattractiveone.

Asdot-comscomeunderfire,onecasequestionwe'

veheardincreasinglyis"

HowwouldyoucreatebarrierstoentryasanInternetStartup?

Productlifecyclecurve

Ifyou'

reconsideringaproductcase,figureouthow"

mature"

yourproductor

Strategytool/frameworkchart

Here'

sonewaytothinkaboutthechoicebetween