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
If you have no time to read the voluminous guides to strategic analyses, have a look at the 4 slides below which elegantly distill the concept. You can get the full document here and many other stunning management consulting templates here.
Slide 1 is a beautiful slide which perfectly explains the concept. It takes so much writing on the subject and condenses them into one easy to use guide:
1 – Break down a problem statement using deductive reasoning (See slide two for more on this).
2 – Determine the analyses required to answer the question.
3 – Collect data for the analyses.
4 – Run the analyses.
5 – Compare the results and repeat the process if needed.
Slide two explains the difference between inductive and deductive reasoning. Deductive reasoning is definitely the preferred method of management consulting.
Slide three shows how the problem statement can help decide the type of analyses required. This is worth showing since many consultants struggle at making this jump from problem statement development to analyses.
Slide four again summarizes the process using a different style.
These four slides elegantly and succinctly explain the core skill used in strategic consulting. If you want to understand anything in management consulting, make sure you understand this.
- Document Sharing (mexiledphotos.blogspot.com)