Why You Should Not Use Case in Point to Prepare for Your Consulting Interviews CareerMetis.com

Why You Should Not Use Case in Point to Prepare for Your Consulting Interviews Source : Pexels.comLet me start off by asking, how many consultant positions have you seen advertised that require the applicant to have memorized the pre-existing frameworks as a necessary qualification for the job?The chances are likely none. Therefore it makes no sense to spend valuable time devoted to committing the pre-existing frameworks to memory.Memorizing the framework is not the key to launching a successful consulting career. It is for this reason that the Case In Point approach should not be used to prepare for case interviews.evalWhile being one of the more popular resources among many aspiring consultants, what Case In Point is teaching, can be misleading. The information that it provides leads the reader to believe that the ultimate success of solving complex problems lies in adopting one or a combination of the pre-existing frameworks. If only it were that simple in the fast-paced business world.It Is Not About The What But All About The HowevalFirstly, allow me to be clear, there is nothing wrong with the Ivy Case framework. It all comes down to the outlook and approach that Case In Point is instructing.If solving complex business problems is as easy as applying one of the pre-existing frameworks, then consulting firms could just advertise a few attractive packages and expanded versions of the frameworks for sale. This way the potential client can simply choose the most likely framework package to rectify their problem and proceed to the checkout.However, the fact that globally, consulting revenues reached more than $480 billion in 2018 communicates to you that it is just not that straightforward. There is so much more to providing client solutions than simply just squeezing the problem into a pre-existing framework to solve the problem. Where is the value in that?The Consultants ToolboxHaving knowledge of the basics of the framework and properly understanding the essential core of each of the pre-existing existing frameworks is undoubtedly an excellent tool for any consultant to have. These existing frameworks can sufficiently be used to establish a basic foundation for any case structure.The key fact, though, and this is what Case In Point does not drive home is that the framework alone does not define how to approach the case or draft the roadmap for solutions.The value of the pre-existing framework is only established once it is attached to a specific situation. So while learning these frameworks are great for any consultants toolbox, the question is, what use are those tools if you do not possess the suitable knowledge to use them correctly?Key Takeaway 1: Having the tools to do the job is not enough. Knowing how to use those tools to personalize the job is what is ultimately essential.“Think Like A Consultant.” evalIf anything, this specific phrase best describes what Case In Point has failed to sufficiently instruct. I initially never completely grasped the broad meaning behind this creative expression. However , once I was able to identify what Case In Point was not saying, the gist of this phrase made sense.What Case In Point is not saying is that first and foremost, the comprehensive approach should not merely be about achieving a potential solution but rather about how to go about solving the fundamental problem. Secondly, in order to correctly solve the problem, you must initially have a clear understanding of what the actual issue is.The specific answers to the appropriate questions are what will mold and define the structure of your case. If you are to simply squeeze that specific problem into one of the pre-existing frameworks, you are not providing the client with an innovative tailor-made ACTIONABLE solution.Key Takeaway 2: An innovative solution is one that has translated the customer’s needs into an actionable plan.Rule # 1-Do Not Reuse Framework.One of the most elementary mistakes made during the case interview remains an applicant trying to resolve the case on hand by reusi ng one of the pre-existing frameworks. Developing custom solutions through tailored frameworks represents the one excellent opportunity to stand out during the case interview. In addition, it is also one of the most valuable skills a consultant can demonstrate during the case interview.evalThere is a fundamental value in having knowledge of the existing frameworks. They provide you with a firm foundation on which to construct case driven solutions. The list of pre-existing frameworks includes:4Ps frameworkThis framework is most commonly used to develop a marketing strategy.Profitability frameworkThis is the most basic framework widely used for business analysis, for example: To determine the cause of probability loss.Porter’s 5 forces frameworkThis framework is commonly used to analyze competition in a specific industry or market. Market entry frameworkMost often used by businesses to make decisions on whether to launch products or services in a new market.Price case frameworkDete rmining prices, most often when launching new products.The 3 Cs FrameworkAnalyzes the company, the competition and identifying target customers.SWOTA mini-framework which is used for quick evaluation of an individual or companies performance. In the general sense, consultancy is about providing skilled advice. Clients compensate the consultancy firm for skilled recommendations which will enable them to achieve a specific goal or resolve a specific issue through the advised solutions.The consultant’s goal is to adequately resolve a fundamental MECE which is an acronym for “Mutually Exclusive” and “Collectively Exhaustive.”Is the effective method of comprehensive analysis which is based on the principle of consolidating, and grouping of information into smaller, more logical groups and analytical subcategories until each set is mutually exclusive Key Takeaway #6: No matter which framework you use or how you try to structure the case, if you do not have a clear understanding of the desired objectives, it is likely that you will not reach the right conclusions. Just a few other tips and valuable reminders about analyzing data using framework:Not all the data is useful data. Valuable data can come in a variable number of formats and can include interviews, text, numerical information and even data charts. Therefore categorizing and prioritizing data is one of the most key steps in the extensive process. Ultimately, the result of necessary data collected and analyzed is to produce the relevant recommendations and answers to the client’s questions. Do not try looking for answers until you have a full understanding of the questions being asked.An exhaustive structure like an Issue Tree or MECE represents an essential way to arrange and plow through data in a systematic, concise manner. With these concepts, you will prepare, divide and segment the data until you have filtered out the problem. If the structure you are using does not isolate the issue, you ca nnot outline recommendations or offer solutions. Therefore, it all comes down to the structure.Constantly evaluate a data point with structure and always start with the goal to finish. You are adopting the framework to keep data organized and logical, therefore it makes no sense to jump between the groups of categorized data before you have completed analyzing a specific segment of data. Dissect, examine and discard data before moving on.Assembling data in a logical manner will also help support and carefully arrange your thoughts. Once you have positively identified the objective and key priorities, you can efficiently carry out a logical assessment. Once you have identified the objective and key priorities, you can carry out a logical assessment:What does the client want to do with the analysis?What is urgent?What will the outcome be if the problem is not resolved?What does the client expect to achieve through the recommended solutions?Do I possess a sound understanding of the pro blem?CONCLUSIONHaving the tools to do the job is not enough. The value lies in knowing how to use those tools to develop tailored solutions.An innovative solution is one that is custom made and has analyzed all the possibilities in order to create an actionable solution.Do not just seek solutions, fix the problem!There are many variables between companies and those variables will influence operations and solutions, therefore solutions must always be case driven and specific to the problem being addressed. A one size fits all solution does not offer the client a customized solution.Create a unique, priority driven framework to analyze and structure the case.Before trying to find the answers, you must have a clear understanding of the objectives. Always ask the right questions to ensure you have a comprehensive understanding of the client’s questions and expectations. If you do not have a clear understanding of the end objectives, your analysis will not support the right recommendat ions. Logical data supports logical thoughts. It helps to keep your thoughts and notes in an organized, logical, concise manner too. This enables you to ensure that you have covered all the key points and have a clear understanding of the client’s requirements.Practicing how to apply case driven framework is a vitally important step in preparing for your case interview.Key recommendations must consistently be supported by the necessary data when presenting your fundamental solutions to the client.