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Consulting-style caseinterviews are highly effective, and the same format is being adopted more and more widely. The major consultancies have converged on a largely identical interview style, precisely because it excels in picking out the most genuinely capable candidates from the huge pools of applications received.
Today, I want to introduce you to (or perhaps remind you of) the concept of the minimum efficient scale. It is the notion that, as a company gets bigger, it is able to achieve cost savings through its “scale” or the size of its operations. The concept of “minimum efficient scale” is less well known and is a less-used term.
Have an upcoming Oliver Wyman interview? After building a successful model in financial services, Oliver Wyman expanded to offer pure strategy consulting services to non-financial services groups and now has 2 internal divisions that operate relatively independently. Strategic Information Technology and Operations.
The reason that this framework is worth introducing is due to the increasing frequency of M&A cases confronting candidates in the caseinterview. Needless to say, M&A deals are notoriously complicated financial activities, which makes candidates panic when they are prompted with an M&A case.
In caseinterviews, the MECE principle is a valuable tool for creating issue trees break down complicated problems into basic components you can evaluate and help you get to the root of the problem. It’s important to understand each of these points before using MECE in your caseinterview with McKinsey or other top firms.
It operates at the task level and not the end-to-end process level.” As a result, they may achieve modest savings, but in many cases they will miss out on opportunities to dramatically improve process outcomes, quality, costs, and cycle times. It doesn’t ask whether we need to do this activity at all.
See More Videos > See More Videos > In order to understand how firms have systematically enhanced trust in applied AI, my colleagues Monika Hengstler and Selina Duelli and I conducted nine case studies in the transportation and medical device industries.
Markets are usually a good way to organise economic activity: Individuals and firms that operate in a market economy respond to prices and thereby act as if guided by an “invisible hand” which leads the market to allocate resources efficiently. CaseInterviews. Graduate Consulting Group. Categories.
In the book The Checklist Manifesto by surgeon Atul Gawande (one of my favorite books on building scalable operations), the author discusses the errors that occur in surgery. The two errors that stick out most in my mind are: Operating on the wrong part of the patient (e.g., I was shocked at the types of errors that occur in surgery.
To better understand this puzzling incoherence, we used interview data to study how 11 venture capitalists from two Swedish government organizations used notions of gender in their assessments of applications by 126 entrepreneurs (43% women and 57% men). .” ” “ He is looking for a company to buy.
Specializing in economic, financial and market analysis, specifically for cases in litigation, Cornerstone Research touts itself as the one player major law firms turn to when navigating the obstacle course that is the American and European legal systems. International Arbitration and Litigation. Labor and Employment. Real Estate. Securities.
The outsourcing matrix may prove useful in the consulting caseinterview, either as a standalone framework or as part of a larger profitability framework. To what extent do the activities contribute to operational performance? Operations. (Source: Flickr ). Are the activities strategically important? Procurement.
Founded in 2003 by two former Deloitte partners, Archstone Consulting specializes in helping companies eliminate operational inefficiencies, cut costs and invest resulting savings back in to the growth of the firm. The practice areas at Archstone Consulting reflect the operational nature of consulting projects at the firm: Business Strategy.
Its hierarchical authority, specialized division of labor, and standard operating procedures enabled companies to grow far larger than they had ever been. The German sociologist Max Weber famously praised bureaucracy’s rationality and efficiencies. We observe and interview successful agile teams. What can I do?”
Personnel are treated fairly and the company’s overarching operating principles are universally praised by both current and former employees. Employees at every level are encouraged to be entrepreneurial and think of new and creative ideas to increase efficiency and grow business. Interview Tips & Tricks.
What’s more, the subsidiaries operated more or less autonomously, each with separate organizational cultures and norms. Some people I interviewed had entertained long-standing aspirations to work globally, while others had this dream kindled as they learned English. Translators were employed for cross-border communications.
In this interview with senior editor Curt Nickisch, University of Michigan’s Ross School of Business professor Stefan Zeume discusses brand-new research resulting from the unexpected opportunity, and what he and his coauthors found: billions of dollars in lost market capitalization. So it’s an open question.
Their emphasis on technology, cost-cutting, and effectively managing operations has led to better consultant pay over time. Project leaders and partners mainly oversee these operations and interpret the data to provide solutions to clients. They help clients streamline their monetary operations in different contexts.
Consider the case of an organization in our consortium, the Connected Commons , that uncovered a ground-breaking audio/visual technology which would differentiate the organization in existing channels but also had the potential to open up entirely new markets.
You may not have to go to business school to get an interview with The Firm, but an MBA is still the best way to break into McKinsey. If you’re in dire straits, get MC’s Networking Bible that explains, step-by-step how to build relationships with consultants and recruiters to network your way into an interview. Not exactly.
The profitability framework is probably the most important framework for solving consulting case questions. Value chain analysis: Consider value chain activities: access to raw materials; operating capacity; inventory handling and distribution. To what extent do the activities contribute to operational performance? Operations.
At consulting firms like McKinsey, you will receive a personal experience interview (or McKinsey PEI). Sometimes an entire interview is devoted to these types of questions. Other times, you will receive 10 - 15 minutes of these kinds of questions before you get a caseinterview. This is why the caseinterview exists.
Through its economics and planning service Arup focuses on creating sustainable, efficient and culturally-appropriate businesses and places. and has operations in more than 20 countries. GHK operates in three main areas: Public Policy, International Development, and Ports and Logistics. CaseInterviews. Categories.
However, I have found that the best results came from working with highly motivated, strongly competent, and extremely ethical recruiters who own and operate small businesses. Without this expertise, organizations risk making poor hiring decisions, which can cost thousands of dollars or more in each case.
Job seekers report on peer-support calls and during networking meetings that they have had their interviews postponed or canceled. Candidates who may have undergone two, three, or even six rounds of interviews may find that they must now wait to see if organizations actually fill the positions, much less whether they will have a job.
Many consulting, corporate strategy, and corporate development roles require the interviewee to go through an M&A case study. Depending on the firm and specific role this case could be very strategic and operational like doing a market entry/growth-type case or very technical (i.e. Benefits of Combining Forces.
Our research involved a detailed cross-case analysis of five major corporations operating in Australia over 10 years, from 2005 to 2015. Through a detailed qualitative analysis, we examined company reports, media releases, policy statements, and over 70 interviews conducted with senior managers from these companies.
We chose Brazil’s beef industry as the location of our case study , both for the size and complexity of the industry and for its impact on the planet. For slaughterhouses and retailers (Brazilian operations), we also projected positive benefits: $20 million to $120 million (0.01% to 0.1% of revenues).
While initially designed to improve the responsiveness of software development teams, more recently agile has become the default team-based operational model for companies big and small, across industries and sectors, with the promise of a substantial and sustained spike in team productivity and efficiency.
CASE STUDY Telecom Leader Accelerates Business Growth Through Coaching A global telecommunications provider engaged Brimstone to design and facilitate leadership development cohorts, build an inclusive global Sustainability Plan, and coach leaders across the US and Europe. Was he working efficiently or just working hard?
What could be different this time, though, is that the new possibilities which beckon will not just be more efficient ways of meeting our existing basic needs, for it appears that we may be nearing a point at which technology attends to these without any regular intervention on our part. CaseInterviews. Categories. Leadership.
Harvard Business Review interviewed the CEOs and other business leaders who signed up to the Future Economy Project, our initiative spotlighting businesses’ sustainability agendas. HBR: Of the interviews, what jumped out at you? But it’s hard to make that case at the scale of mitigation measures that are required.
But, according to McKinsey research , only 16% of merger reorgs fully deliver their objectives in the planned time, 41% take longer than expected, and in 10% of cases, the reorg actually harms the newly-formed organization. Post-closure, managers from both businesses shared their views through interviews and electronic submissions.
In caseinterviews, the MECE principle is a valuable tool for creating management consulting firms that break down complicated problems into basic components you can evaluate and help you get to the root of the problem. This may require you to consider a typical customer use cases. This is the beginning of our issue tree.
How companies are using artificial intelligence in their business operations. But there is a pattern among these critics, which is that they rarely ask how well the systems they analyze would operate without algorithms. So what’s going on here?
In case you missed my last post: Specialization – The paradox of limiting yourself. As the country begins to open up leads, prospects, clients, and referral sources will remember those practitioners who said they were working from home and that their firms were operational. A high-five to new subscribers: this is what we do!
For years, Atrius Health had been focusing on standardizing processes, removing waste, and improving efficiency using improvement activities employing lean. Interview questions were designed to test applicants for these traits. ” Some interview questions were used to test multiple competencies at once. .”
Interviews have been conducted with clients and consultants in order to give a realistic and broad outlook. Finally, both the Operational Manager and Procurement Manager of Qemploy ‘s indirect client, an anonymous large scaled IT – consulting firm. From Keylane, Chief Development Manager, Martin Thuesen.
The conference’s agenda involves keynotes, presentations, case studies, and interviews with leading pharma experts dealing with project portfolio management. The program of the symposium includes case studies, lessons learned, academic research, actionable tips, and more.
Although historically not known for consulting services (unless you were consulting – ahem, lobbying – government officials), strategy, operations, and even tech consulting have exploded inside and outside the Beltway in the last 10 years. – Washington, DC. Some comparable firms include Analysis Group, Inc.,
It can be a public or privately owned organization operating on a state or local level. . Read also: Interview Tips for the Consulting Industry]. In this reactive role, their actions can be fragmented and even rushed in some cases. What does an HR agency do? Creating an inability to correctly assess the personality of employs.
In the case of cybersecurity, some decision makers use the wrong mental models to help them determine how much investment is necessary and where to invest. It’s not just about data corruption — it’s also about how the bad data will reduce operationalefficiency and bring production lines to a standstill.
The process can include strategic (developing a new IT strategy or cybersecurity approach) to tactical (such as the selection of an IT system) to highly operational (such as the development of an application). In the case of client management, utilising these trends can help client tracking through sales process. Why Consulting? ].
One of the most difficult challenges for new general managers, who have been promoted after leading functional teams in marketing, sales or operations, is to make their leadership impact scalable across and multi-dimensional organization. Efficiency pressures to increase volume, reach and capability without adding overhead expense.
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