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1、The University of Michigan Business SchoolConsulting ClubConsulting Interview Preparation BookBased on materials provided by:AT KearneyBooz-Allen HamiltonMcKinsey and Companyand theOffice of Career Development1999 EditionSECTION 1 - INTRODUCTION5Overview5Maximizing Your Return5SECTION 2 OVERVIEW OF
2、THE CONSULTING INDUSTRY7What is Consulting?7Why Do Companies Hire Consultants?7Consulting Project Types7Trends9The Structure of Consulting Firms10Compensation11Lifestyle11SECTION 3 CONSULTING ARTICLES13The Management Consulting Industry13Segmentation13Trends15Reflections on First-Year Recruiting18Wh
3、y consulting?18Knowing the firms18Preparing for the case interview20SecondYear Recruiting: Looking for the Long-Term22Investigating Consulting Firms22The Recruiting Process23The DecisionMaking Process24Career Paths24Remuneration25Is Consulting the Right Field for You?27The Options27The Skills in Dem
4、and28Landing the Job You Want29Recommended Resources30SECTION 4 - OVERVIEW OF CASES32SECTION 5 - DIFFERENT TYPES OF CASES34SECTION 6 - FRAMEWORKS FOR CASES35Additional Models36The Four Cs36Economics374Ps39Value Disciplines39Porters Five Forces40Star Diagram/Organizational Analysis41The BCG Growth-Sh
5、are Matrix42Value Chain42Generic Strategies (Porter)43Strategic Types (Miles & Snow)44Other Key Concepts45SECTION 7 - DOS AND DONTS48SECTION 8 - HOW TO PREPARE FOR THE CONSULTING INTERVIEWS?50SECTION 9 - GENERAL INTERVIEW QUESTIONS51SECTION 10 - SAMPLE CASES52Case No. 1 China Products Division52Issu
6、e52Possible Solutions52Case No. 2 Healthcare Company55Issue55Possible Solution:55Case No. 3 Electronic Joint Venture56Issue56Possible Solutions:56Case No. 4 Television Cable Company58Issue58Possible Solutions58Case No. 5 Magazine Sunday Supplement60Issue60Possible Solutions60Case No. 6 American Expr
7、ess Charge Card62Issue62Possible Solutions62Case No. 7 Television Cable Company63Issue63Possible Solutions63Case No. 8 Credit Card Division of Bank65Issue65Possible Solutions65Case No. 9 Movie Rental Business67Issue67Possible Solutions67Case No. 10 Auto Service Stores69Issue69Possible Solutions69Cas
8、e No. 11 Sports Franchise71Issue71Possible Solution71Case No. 12 - Durable Goods Distribution Case72Issues72Possible Solutions72Case No. 13 - Business Forms Case73Issue73Possible Solution73Case No. 14 - “High-End” Pots & Pans Company Case74Issue74Possible Solutions74Case No. 15 - Paper Products Manu
9、facturer Case76Issue76Case No. 16 - Pianos77Issue77Possible Solutions77CASE No. 17 - Coke vs. RC Value Chain79Issue79Possible Solutions79Case No. 18 - Fertilizer81Possible Solution81Case No. 19 - Airplane Manufacturer82Issue82Possible Answers82Case No. 20 - Mysterious Audiocassette Market83Issue83Po
10、ssible Solutions83Case No. 21 - Windmill84Issue84Possible Solutions84Case No. 22 - Bank of Luke85Issue85Possible Solutions86Case No. 23 - Candy Company87Issue87Possible Solution87Case No. 24 - Skyscraper88Issue88Possible Solution88Case No. 25 - Consulting Firm (I)89Issue89Possible Answers89Case No.
11、26 - Cosmetic Company in Europe90Issue90Case No. 27 - Semiconductors92Issue92Possible Solutions92Case No. 28 - Airline Industry93Issue93Possible Solutions93Case No. 29 - Oil Tanker94Issue94Possible Solutions94Case No. 30 - Fertilizer95Issue95Case No. 31 - Retail Advertising Pricing96Issue96Possible
12、Solutions96Case No. 32 - Automobile Industry97Issue97Possible Solutions97Case No. 33 - Scientific Industry98Issue98Possible Solutions98Case No. 34 - Aluminum Industry100Issue100Possible Solutions100Case No. 35 - Meat Packing Industry101Issue101Possible Solutions101Case No. 36 - Piano Tuners102Issue1
13、02Case No. 37 - Consulting Firm Strategy103Issue103Case No. 38 - Corn Feed Company106Issue106Possible Solutions106Case No. 39 - Selective Binding Case107Issue107Possible Solutions107Case No. 40 Video Games110Issue110Possible Solutions110Case No. 41 - Steam Boiler Hoses112Issue112Possible Solutions11
14、2Case No. 42 - Merger Candidate in Chemical Industry114Issue114Possible Solutions114Case No. 43 - Machine-Loading Case116Issue116Possible Solutions116Section 1 - IntroductionOverviewOn behalf of the 1999-2000 University of Michigan Consulting Club, we would like to welcome to the University of Michi
15、gan Business School. We are sure that if you are not feeling overwhelmed already, you will be after flipping through this book! We would like to reassure you by pointing out that every year hundreds of students successfully scale the recruiting curve and obtain rewarding careers in the consulting in
16、dustry. We believe that the consulting industry offers unparalleled opportunities and rewards for intelligent and creative professionals. Perhaps more than any profession, consulting offers individuals the opportunity to chose from any number of rewarding areas of expertise while working in a team b
17、ased environment. As the business world transforms itself to meet the needs of the next century, consultants will be needed more than ever to provide expertise and guidance to industry leaders with the difficult decisions that they face. Maximizing Your ReturnAs with any process, there is a learning
18、 curve to recruiting. This book is an attempt to consolidate the information you will need to begin your job search. As such, it should be utilized as both a ground zero starting point and as a reference manual. When you realize that you need to pursue more information on an issue, we hope you will
19、use the book to point you in the right direction. We would also like to point out what this guide should not be used for. This guide is not a substitute for the hours of practice needed to learn how to crack a case. Just as we could not hope to write a book to teach you how to ride a bicycle success
20、fully, this book will not provide you with the experiences to master the case interview. Being able to nail a case interview comes through practice and perseverance. While we hope that this guide will shave several hours off the process, there is no substitution for having a few actual practice case
21、s under your belt. Therefore, we would encourage you to seek out other MBAs to practice with and/or to use the Office of Career Development.We should also note that recruiting is a multifaceted process. While the interview stage is perhaps the most critical of all components, you should not neglect
22、the other steps in the process. To maximize your chances of landing the dream job, you should thoroughly research the firms that you are interested in, send cover letters to those firms and make follow up calls with those representatives. Remember that the interview comes near the end of the recruit
23、ing process, not the beginning. Through the recruiting process you will interact with a number of outstanding consultants, develop lasting bonds with your peers, and learn a great deal about yourself. As much as we would all like to skip recruiting and get right to the offer, most firstyear (and sec
24、ond-year) students find that there is tremendous value in the process. As with most things in life, your attitude will make you or break you. The decision to approach recruiting as a personal challenge rather than a tedious chore is perhaps the most crucial step in your preparation.Take the time now
25、 to read this book and then sit down and determine your plan of action. Identify the areas on which you personally need to focus the most. Remember that you are interviewing for positions that require sharp analytical skills and true business savvy use these distinctive traits to strategize your car
26、eer launch!With all of that said, please take a deep breath, relax and get ready to show the world what a University of Michigan MBA student can do!On behalf of all of the Officers of the Consulting Club, we wish you the best of luck in the upcoming academic year, your job search and in your future
27、career.Ben KortlangPresidentTodd Van TolVice PresidentNick HarlingOfficer, Case EducationTushar NarsanaOfficer, Case CompetitionMatt LindsayOfficer, Firm RelationsCarmen SalehOfficer, EveningRobert MooreOfficer, TechnologyAndrew BeauchampTreasurerSection 2 Overview of the Consulting IndustryWhat is
28、Consulting?By the University of Chicago Graduate School of Business Management Consulting Group: This article was obtained from the 1997-1998 Resource Guide prepared by the Management Consulting Group of the University of Chicago. Please note that portions of the article that were only applicable to
29、 the Graduate School of Business (at the University of Chicago) have not been included for the convenience of the reader.In this section, we will provide an overview of the profession, the types of consulting, projects, and how consulting firms are structured.Understanding each firms approach to con
30、sulting services is extremely important to landing a job that is why corporate presentations can be so valuable, provided that you come with specific questions you would like answered. Why Do Companies Hire Consultants?There are several reasons that firms hire consultants:1. To obtain an objective v
31、iewpoint regarding a given business problem or issue. Consultants are relatively unaffected by a companys politics or the way in which business was conducted in the past, so the consulting firm delivers what is perceived as an objective analysis. This perspective can be important for motivating empl
32、oyees to change.2. To utilize the specific expertise of the consulting firm. For example, the consulting firm may offer an industry authority to which the client would like access. Additionally, the consulting firm may have done similar projects in the past for comparable companies.3. To obtain info
33、rmation about where the company stands in an industry. Consulting firms often develop benchmark data on the performance of industry average and bestinclass companies in order to provide expert advice regarding performance improvements.4. To provide resources to address a specific problem. Often, cli
34、ents simply do not have enough time or resources to devise solutions to certain problems. Consulting firms can avoid the daytoday distractions that the clients managers cannot. Further, consultants may offer labor power to coordinate and execute an implementation.Consulting Project TypesGenerally, c
35、onsulting firms classify their services into of three categories: Strategy, Business Process Reengineering (or simply Reengineering) and Specific Services. These categories are not mutually exclusive and the distinctions can easily blur. In effect, there are as many different types of consulting pro
36、jects as there are business problems. We will try to explain each of these types in some detail, but keep in mind that it is impossible to describe the full spectrum of consulting services in this Guide.Regardless of project type, client involvement is extremely important to the eventual success of
37、any project. Firms follow very different approaches to involving client personnel. For example, some firms require a certain amount of fulltime client resources dedicated to the project. Others require only sporadic assistance for portions of the project, such as financial analysis or engineering pr
38、oblems. In some cases, client personnel become an integral part of the consulting project.Strategy ConsultingStrategy is the most difficult type of project to explain, because it means different things to different firms. Generally, a strategy project involves a life cycle crossroads for the client.
39、 For example, determining if the client should expand its product line or focus on existing products, or deciding what services the company should provide ten years from now are examples of strategic projects. A strategy consulting engagement will typically involve the highest levels of the clients
40、organization, since responsibility for the direction of the company lies there.Most consulting firms will use a Five Forcesstyle or value chain analysis (both from Michael Porters book Competitive Strategy) to evaluate all strategic options available to a firm and determine a suggested or potential
41、course of action. This would include a detailed financial projection of the different scenarios. After recommending a given strategy, the project would either conclude or lead to an implementation phase.Implementation is a major issue among consultants today. Consultants who permit the client to imp
42、lement a solution believe that success will be realized when the client is forced to take ownership of the solution. On the other hand, other consultants argue that, because their firm was instrumental in developing the solution, they ought to assist the client in implementing the solution. There is
43、 a definite trend in the consulting industry toward having consultants assist in implementation. In fact, more often than ever, consultants are being judged by clients on their ability to implement change.Business Process ReengineeringThe term reengineering has been popular since Hammer and Champys
44、book Reengineering the Corporation became a best seller. There is nothing mystical about the term it simply means taking an objective look at the way in which a business is run. For example, through benchmarking against similar companies, a firm may decide that it takes too long to fill customers or
45、ders. A consultant would then analyze the individual steps of the order fulfillment process and determine ways to cut time, increase quality, enhance customer satisfaction, etc. A revised process is determined and then proposed to the client. Reengineering engagements more often include an implement
46、ation phase in a project than do strategy engagements. Some recent literature suggests that reengineering is losing favor and that certain firms are distancing themselves from the term, if not the practice.Specific ServicesAnother component of the consulting industry concerns itself with specific tasks and expertise needed by clients. Although the various issues relevant to this type of consulting are innumerable, a few specific areas are currently prominent:Technology and Systems ConsultingSystems consulting is chiefly concerned with giving clients advice about the ideal configuration of
