Case in Point - How to Solve a Business Case

Topics: Management consulting, Question, Logic Pages: 2 (514 words) Published: December 14, 2012
A European iron mining company bought a piece of land in Australia with high contents of iron. Should they mine the ore? In deciding, I want you to give me the cost per ton, the breakeven point, profit margin and the impact on the global market.

Consulting firms are in the business of renting out brains. Consultants get paid to synthesize massive quantities of foreign data, toss out the irrelevant information, structure an approach to a given client issue, and hypothesize logically and creatively before people of power and influence (like bigwigs at the mining company). That's why consulting firms put so much weight on the case question - because it allows them to judge how logically and persuasively a potential consultant (i.e., you) can present a case. In essence, a case interview is a role-playing exercise. In order to nail a case interview, you need to know both how to prepare and how to perform. This book will help you do both. It walks you through the overall consulting interview, teaches you how to conduct your research, tells you what the consulting firms are looking for in a candidate, explores the various types of case questions, and then introduces you to the Ivy Case System©. As a career officer at Harvard for over fifteen years, I've helped more than eight thousand of the nation's top students prepare for consulting interviews. During this time, students have tirelessly memorized individual frameworks and have then struggled to decide which one(s) to apply. All the while, the case questions given by consulting firms have become increasingly complex. The standard frameworks of the past, while still valuable, aren't enough to solve these sophisticated cases. I've developed The Ivy Case System in order to simplify things. This system will allow you to make an impressive start (without a long and awkward pause) and ensure that you approach the answer in an organized and logical way. The difference between a framework and a system is that a...
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