Vault Reports Strategies for Answering Business Case Questions
The consulting interview season is upon us, and many of you will soon be facing consulting case interview
(a business question presented to you for your detailed analysis). While it's useful to know about advanced
frameworks like Porter's Five Forces and the population of the United States offhand (it's 270, 952,899 as
of November 4, 1998, according to the Census Bureau), it's just as important to have a few basic tips down
pat.
1. Take notes
As your interviewer presents your case, be sure to take careful notes on the numbers or other facts given.
(Always bring a notepad and a pen to a consulting interview.) You don't want to ask your interviewer to
later repeat information that has already been given.
2. Ask questions
Your interviewer expects you to ask questions – as many intelligent questions as you need to obtain an
accurate picture of the relevant facts in the case. Many inexperienced case interviewees make the error of
not asking their interviewer any questions, perhaps afraid that they will look ignorant, or not wishing to
“bother” the interviewer. On the contrary – not asking questions is a fatal error in a case interview.
If you don’t know the first thing about the helicopter market, ask how much it costs to manufacture a rotor.
If you need to estimate the demand for a beef-flavored potato snack in Wichita, Kansas, then feel free to
ask the population of Wichita and environs.
3. Be prepared to take charge. You will often find that your interviewer will direct your line of questioning
to a specific area, but you must always be ready to control the conversation in case the interviewer does not
direct your reasoning. If you are unsure, simply ask the interviewer. For instance, if you find the
interviewer offering little direction as you move through your initial scoping questions, you may wish to
ask, “I find the lack of a risk assessment to be a potential showstopper. Might I ask some detailed
questions about this?” Or you might say, “Given what you have told me about the situation, I would like to
drill down for further clarity regarding the client’s current relationship with its distribution partner. Would
that be OK?” In this way, you take charge of the line of questioning without stepping on the interviewer’s
role
4. Make no assumptions! As a case interviewee, you should never make any assumptions. You should
assume the persona of an actual consultant trying to learn about an assignment. It might seem obvious that
there is no preexisting workplan (because if there was, why would this be a case interview?) but you
should ask. You should also ask if the company has encountered a similar problem, or what other
companies in the field have done when faced by similar problems. Your interviewer may not release that
information but will be impressed that you asked these sensible questions. Some good basic
“professional” questions to ask, which apply to most cases:
* Who hired us?
* How long will this engagement last?
* Is there a workplan?
* Has the company faced this problem (or opportunity) before?
* If so, how did it react?
* What was the outcome?
* What have other companies facing this situation done?
* Has the firm already done any research into the issue?
* If so, what were its findings?
5. Maintain eye contact
Always maintain direct eye contact during the case interview. Eye contact is critical when answering case
questions – it demonstrates confidence and authority. Remember that in consulting you may find yourself
in front of twenty executives at a major corporation presenting a strategy you were briefed on only a half
hour ago. And then you have to answer questions! So you can see why business case interviewing is so
important to consulting – it is a direct parallel to the environment consultants must face every day.
6. Think out loud
In order to successfully navigate case interviews, you will need to act quickly and confidently. The
business case is an opportunity to show the interviewer how you think. Your interviewer wants to know
that you can reason in a rapid and logical fashion. As you assess, compile, and analyze the elements
presented to you, be sure that you speak aloud and explain your reasoning. This is the only way the
interviewer can assess your performance.
Now, you may not be entirely comfortable thinking out loud. So ifyou’re not feeling confident thinking
aloud, try practicing by yourself. Start with something simple like explaining aloud to yourself how to
change a tire or how you brush your teeth. Minimize “ums” and other fillers, so that what you say is
concise, direct, and clear.
Next try practicing on friends or family. Have them ask questions where you must assess a situation, like,
“I’m not sure at which bank I should open a checking account. What are the trade-offs between Bank X
and Bank Y?”, or “I’ve got $50 to spend on groceries, so what should I buy?” Even speaking to yourself in
front of the mirror will build your confidence thinking “on the fly” while simultaneously speaking.
7. Present your thinking in a clear, logical manner. Where useful, use frameworks and business concepts
to organize your answer. You should develop a framework for assessing case interview questions which
can be applied to different situations. In general, in any situation you will want to:
1. Understand the scope of the engagement
2. Pinpoint the objectives, and
3. Identify the key stakeholders
Beyond this, you may choose any line of questioning or structure that you feel comfortable with. As you
practice, you will find yourself developing this framework unconsciously as you attempt to gain clarity
over a situation. Capture and package this framework, and have it available by memory (or on paper if you
wish) for use at any time.
8. Quickly summarize your conclusions: You have limited time in your case interview to make your point.
If you are uncomfortable with quickly summarizing your conclusions, think about being faced with this
classic extreme:
“A consultant working for a multinational oil and gas company inadvertently bumped into the CEO of the
corporation while waiting for the elevator. As they got on the elevator, the CEO announced that he was on
his way to a Board of Directors meeting on the 34th floor. He then instructed the consultant to brief him
completely on the major findings of the project in the time it took the elevator to go from the 1st floor to
the 34th floor.”
While this is somewhat of an urban legend, it is extremely likely that you will encounter time-pressured
situations many times in your professional career, especially in consulting, where time is a precious
commodity.
Good luck, and crack those consulting interviews! For sample frameworks, case questions, guesstimates
and brainteasers, check out the Vault Reports Guide to Case Interviews at
