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CaseQuestions
Casequestionsaremostcommonlyusedinconsultinginterviews,buttheycanbeusedinothersituations,suchasininterviewsformarketingpositionswithconsumergoodscompanies.Simplyput,acaseinterviewistheanalysisofabusinessquestion.Unlikemostotherinterviewquestions,itisaninteractiveprocess.Yourinterviewerwillpresentyouwithabusinessproblemandaskyouforyouropinion.Yourjobistoasktheinterviewerlogicalquestionsthatwillpermityoutomakeadetailedrecommendation.Themajorityofcaseinterviewersdon'thaveaspecificanswerthatyou,thecandidate,areexpectedtogive.Whattheinterviewerislookingforisathoughtprocessthatisatonceanalyticalandcreative.Here'sasamplecasequestion:
Youareadvisingacreditcardcompanythatwantstomarketaprepaidphonecardtoitscustomers.Isthisagoodidea?
You:
Whatistheroleofourcompany?
Dowesimplymarketthecardormustwecreatethemourselves?
Interviewer:
Thiscardwillbeco-marketedwithanoutsidephonecompany.Wedon'tneedtoperformtelecommunicationsfunctions.
You:
Whatareourexpensesconnectedwiththecard?
Interviewer:
Wemustpay15centsforeveryminutewesell.Wealsohavetopay$1.00asastart-upcostforthecardandcardsystems.
You:
Whatareourmarketingexpenses?
Interviewer:
Wenormallyuseslipsofpaperthatareattachedtothebacksofourcreditcardpaymentenvelopes.Wesometimesalsosendcustomersadirectmailing-inaseparateenvelope.Orwecanhavetelemarketerscallselectedcustomers.
You:
What'sthecostofeachofthesemarketingtechniques,andwhatistheirresponserate?
Interviewer:
Telemarketershavea2percentresponserate,andcost$1.00percall.Directmailingscostus40centspermailingandhavea0.50percentrateofresponse.Ourpaymentattachmentshavea0.25rateofresponse,butonlycostus5centseach.
You:
I'mgoingtoassumewewillsellone-hourphonecards.Thatwillcostus$9.00fortheminutesandadollarpercard-soeachcardcostsus$10.
Interviewer:
Thatsoundsreasonable.
You:
Andwhatisourexpectedrevenueonaone-hourphonecard?
Whatisthecurrentmarketratefora60-minutephonecard?
Interviewer:
Assumeit's50centsaminute.
You:
Soifwesellthecardsfor$30,wehavea$20profit,minusourexpendituresonmarketing.
Interviewer:
What'sourcoststructurelooklike?
You:
Okay,let'sfigurethisout.Tosell1,000cardsthroughtelemarketing,wewouldneedtocontact50,000people.Thatwouldcostus$50,000.Tousedirectmail,wewouldhavetocontact200,000thousandpeople,which,at40centspermailing,costsus$80,000.Sincetheenvelopeinsertsaren'tveryreliable,wewillneedtocontact800,000peopleusingthatmethod.Butat5centseach,itcostsonly$20,000tosell1,000cards.
Wemake$20profitoneachcard.Butevenatthecheapestpromotionalvehicle,at$20profit,wewouldonlybreakeven,becauseourprofitson1,000cardswouldbe$20,000.Weshouldn'tmarketthiscard,unlesswecanfurthercutourmarketingcostsorincreasethepriceofthecard.Ifwecouldslicethecostoftheenvelopeattachmentsapennyorso,orsellthecardfor$35,orconvinceourco-marketertoreduceourcosts,itmightbeworthselling.
Commonly-askedQuestions
Companiesthesedayslookformorethanwhetheryou'reawittyorespeciallycoolindividualwhenitcomestopersonality.Amongthecharacteristicshighestontheirlistareteamworkandinnovation.Theymaynotaskwhetheryouareateamplayer,orcreative--doesn'tmeanyoushouldn'tgoaheadandtellthem.Butthenagain,alotofinterviewerswillaskyououtright:
tellmewhyyourpersonaltraitswillworkhere.
1.Whyareyouapplyingforthisposition?
Probablythemostcommonlyaskedquestionatjobinterviews.Youneedtoconvinceyourinterviewerthatyouareenthusiasticaboutthejob.
2.Tellmeaboutatimewhenyouusedinitiative/Givemeanexampleofwhenyoucameupwithaninnovativesolution/Givemeanexampleofatimeyouexceededexpectations.
Inthisever-changingworldinwhichwework,employeesaresupposedtobeinnovative,tobeableto"thinkoutsideofthebox.Questionslikethese(suchasthewaythe"initiative"questionand"exceededexpectations"questionsareworded)canbeusedasopportunitiestotalkaboutcreativefaculties--pickaninstancewhenshowinginitiativemeantcomingupwithanout-of-the-ordinarysolution.
3.Iseeonyourresumethatyouservedaschairpersonofsuch-and-suchcommittee.Whatwasthatexperiencelike?
Alongwithinnovation,employersoftenlookforleadershipability.Ingeneral,interviewersarelookingforevidenceofawillingnesstolisten,anabilitytogivefeedback,andafirmnesswhenitcomestogettingthingsdone.
4.Whatwouldmembersofyourbasketballteam/businessschoolcohort/butterflycatchingexpeditionsayaboutyou?
Tellusaboutatimeyouhadtodealwithadifficultteammember.
Teamworkisanotherhighlyvaluedtraitthesedays,companiesarelookingforemployeeswhoworkwellingroups.Ifyourinterviewerdoesn'tbringupteamwork,doityourself.Thesequestionsaresimilartotheleadershipquestions-interviewersarelookingforbothanopennesstoideasandawillingnesstonudgeteammemberstowardagoal.
5.Whydidyoudecidetoswitchcareers/Whydidyoudecidetogobacktoschool/Whydidyoutaketimeoffduringcollege?
Bepreparedtowalkthroughyourresumewithyourinterviewer,especiallyatcompaniesthatliketopromotefromwithin.Theywanttoknowthatyou'recommittedtotheindustryandwillbeloyaltotheircompany.
6.Wheredoyouseeyourselfin5years?
Youdon'tnecessarilyneedtosaythatyouwanttoworkforthecompanyforever,butyoushouldexpresshowyouthinkthepositiontowhichyouareapplyingwillhelpyougrow.
7.Soyoujustgraduated.Howdidyoulikeschool?
Lovedit.Learnedsomuch.AndletmetellyoualittlebitaboutwhattypesofactivitiesIwasinvolvedin.
8.Whatlessonsdidyoulearnfromyoulastjobthatyouthinkcanbetransferredtothisposition?
9.Whatdoyouconsideryourbiggestfault?
Interviewerslovethisquestion,eventhoughitsortofinvitesdishonesty.You'resupposedtosaysomethinglike:
"I'maperfectionist."Or:
"Itendtoworktoohard."Youmaywanttoprepareamorethoughtfulanswer,butyoushouldatleastanticipatethisquestion.
10.Ifyoucouldgoanywherefor24hours,withanunlimitedbudgetwherewouldyougo?
Sometimes,interviewerswillaskoff-the-wallquestionsjusttogetabettersenseofwhoyouareasaperson.
QuestionstoAskDuringYourSummerInternshipInterviews
*Canyougivemeanexampleofmysummerresponsibilities?
Trytomakesuretheansweryoureceiveisasspecificaspossible.Particularlyifyou'renewtotheindustry,youwanttoensurethatyouwillperformworkthatisrepresentativeofafull-timeassociate.
*Howmanypeoplearetypicallygivenpermanentjoboffers?
Andaskforpercentagestoo.Thisshowsyou'reinterestedinopportunitiesaftergraduationatthefirm,andallowsyoutoplanyourstrategicoptions.Somefirms,likeGoldmanSachs,areknownforgivingofferstoasmallproportionofthesummerclass.Youmaywanttotrybetteroddsatanotherfirm.
*WillIbeabletorotatebetweendepartments?
Again,themoreyouknowaboutthecompany,thebetteryouwillbeabletodeterminewhichdepartmentinterestsyoumost,orwhetheryouwanttoworkatthefirmatall.Ifthere'saspecificdepartmentyouwanttoworkin,youshouldmakethisknown.
*Doyouprovideanyassistancewithrelocation?
Manyfirmswillhelplocate,andevensubsidize,summerhousing.Ifthismakesadifferenceinwhetheryoutaketheposition,ask.
StrategiesforAnsweringBusinessCaseQuestions
Ifyou'regoingintoaninterviewwhereyoumightexpectacasequestion(abusinessquestionpresentedtoyouforyourdetailedanalysis),it'simportanttohaveafewbasictipsdownpat.
1.Takenotes.
Asyourinterviewerpresentsyourcase,besuretotakecarefulnotesonthenumbersorotherfactsgiven.(Alwaysbringanotepadandapentoaconsultinginterview.)Youdon'twanttoaskyourinterviewertolaterrepeatinformationthathasalreadybeengiven.
2.Askquestions.
Yourinterviewerexpectsyoutoaskquestions--asmanyintelligentquestionsasyouneedtoobtainanaccuratepictureoftherelevantfactsinthecase.Manyinexperiencedcaseintervieweesmaketheerrorofnotaskingtheirintervieweranyquestions,perhapsafraidthattheywilllookignorant,ornotwishingto"bother"theinterviewer.Onthecontrary--notaskingquestionsisafatalerrorinacaseinterview.Ifyoudon'tknowthefirstthingaboutthehelicoptermarket,askhowmuchitcoststomanufacturearotor.Ifyouneedtoestimatethedemandforabeef-flavoredpotatosnackinWichita,Kansas,thenfeelfreetoaskthepopulationofWichitaandenvirons.
3.Bepreparedtotakecharge.
Youwilloftenfindthatyourinterviewerwilldirectyourlineofquestioningtoaspecificarea,butyoumustalwaysbereadytocontroltheconversationincasetheinterviewerdoesnotdirectyourreasoning.Ifyouareunsure,simplyasktheinterviewer.Forinstance,ifyoufindtheinterviewerofferinglittledirectionasyoumovethroughyourinitialscoopingquestions,youmaywishtoask,"Ifindthelackofariskassessmenttobeapotentialshowstopper.MightIasksomedetailedquestionsaboutthis?
"Oryoumightsay,"Givenwhatyouhavetoldmeaboutthesituation,Iwouldliketodrilldownforfurtherclarityre