Thank you for a great website. I posted this to your forum and decided to email you too.
My question relates to understanding financial statements. I have a master’s in political science from a great school but have no clue what is on financial statements. I have an offer from BCG but my question is what would happen when I join. How important is this skill as a consultant, what must I know and how do I learn it. Everyone has a different opinion here.
I don’t want to get kicked out after all the work preparing to get in.
Thank you in advance!
Dasha” Read more
Thank you for the wonderful discussion about management consulting in Turkey.
If you recall, I am very likely to interview with BCG Istanbul & McKinsey Boston. I worked for another major consulting firm in Dubai prior to pursuing my MBA. While I like my current firm and it is highly regarded, I am keen to go back to Turkey and join a larger firm.
It would be great if you could offer me any advice in making this decision.
Melike*” Read more
I really enjoyed meeting you and your team a few weeks ago. Thank you for taking the time to join me for coffee and discuss my career. I thought your stories were a little funny but really insightful, especially the Paris Hilton analyses. I never looked at it like that before. You were right, Joe Davis is a great guy to work with, and likes constant contact.
If you recall, I mentioned I would be going onto my first business case engagement at BCG and wanted to know if you had any specific guidance on what I need to know to support my manager. I do not have a quantitative background and read history at Oxford. Any tips or guidance will be greatly appreciated.
I would prefer printing the advice, so if you could kindly respond as an article that would be great.
Scott” Read more
Competition cases are a misnomer and misleading. If all cases should examine competitors and the competitive dynamic of an industry, how can there be isolated competition cases? There cannot be, and trying to prepare for competition is really a waste of time. So why do we teach this technique? We teach the competition strategy case technique not because we expect a candidate to receive cases using just this isolated competition logic, but rather to present a way to analyse competition issues within any case. That an entire session is dedicated to competition analysis should indicate just how important this technique is. Too many candidates apply the Porter’s Five Forces, thinking it is enough to analyse competitors. There are too many problems using the Porter approach. Primarily, we have yet to see a candidate apply this technique correctly, because the majority of candidates have a very high-level understanding of the theory and techniques behind this type of strategy analyses.
A deep and thorough understanding of competition analyses will provide most of the skills a candidate needs to solve any strategy case. So taking the time to understand our counter-intuitive way to solve these cases is important.
Moreover, competition frameworks are not intuitive and therefore not easy to apply in a case. It is important for candidates to first understand the logic of competition case before trying to apply frameworks. This video explains that logic.
This case video is animated. Selected screen shots of the video are presented below. Clients will find this video in session 8 of the online case solution library. The video is only available to clients of our case coaching service.
Imagine a consulting engagement in one of the world’s most dynamic emerging markets: a literal gateway to an unbanked world. A Fortune 500 bank believes it has found a winning strategy to target consumers who subsist on less than $5 a day. The client is hoping they can capture up to 30% of this market, and push their revenue growth above the magical 10% threshold. In this market where 40% default rates are the norm, where literacy levels are well below 10% and where no formal banking channels exist, the bank is hoping, praying really, that the risk mitigation best-practices sourced from a joint-venture with Banco Azteca of Mexico will solve all their problems. The bank feels more than a little optimistic due to the significant profits of a 5-year pilot, begun in 2006, where they partnered with South Africa’s state-owned banks. The board has giddily, and greedily, given the go-ahead to end the partnership with the state bank and commit hundreds of millions of dollars of shareholder capital to building hundreds of retail branches across the rural interior. On the eve of the rollout, concerns about communicating the strategy to certain vocal shareholders has led to the appointment of a team of management consultants to assess the strategy. Read more
Max (not his real name) is an aspiring consultant who is looking to secure an analyst role with one of the top firms. His interest in management consulting was sparked by a failed McKinsey interview. In this series of blogs, he will be sharing his background, case preparation process, useful resources, and any breakthroughs or setbacks that he experiences.
Well that was an interesting recruiting season! From my last post you guys could probably tell that things were not going well, and I’m sorry to report that I got shut out – zero interviews. I’ve spent the last little while thinking about what happened, and how I should proceed. First, I want to talk about what I think happened. Read more
Max (not his real name) is an aspiring consultant who is looking to secure an analyst role with one of the top firms for the upcoming recruitment cycle in September 2011. His interest in management consulting was sparked by a failed McKinsey interview last year. In this series of blogs, he will be sharing his background, case preparation process, useful resources, and any breakthroughs or setbacks that he experiences.
A few weeks ago I had the chance to attend a “Crack the Case” session offered by one of Bain’s North American offices. I would like to share my notes from the session, and I hope that you find them useful! Read more
Times are indeed tight worldwide. McKinsey, a firm which spends countless hours explaining to bright-eyed aspiring consultants that they will be flown to special universities conducted by McKinsey partners, may be going…local. Read more
Chris (not his real name) is an undergraduate student at a leading university in Australia studying a business degree with Finance as a major. He will discuss his journey Down-under to land a place in management consulting.
For my first post, I would like to walk you through my story and how my management consulting journey began.
For most of my academic career, I aspired to work in the financial sector. I have a 2 month vacation offer to work in a Bulge Bracket Investment Bank at the end of this year. (Most likely in the M&A team) Read more