In this segment, you will be presented with a brief case study detailing a hypothetical business problem and asked a series of questions about your approach to assessing the problem. It will help us understand how you structure ambiguous business challenges, identify important issues, deal with the implications of facts and data, formulate conclusions and recommendations, and articulate your thoughts.
Here are some tips for you to ace the case interview:
Ask clarifying questions
Your interviewer will provide general information about the case. Asking clarifying questions allows you to put the case into context and align your thinking. Ensure you develop an understanding of the problem and not rush into the analysis.
Structure your answers (Mutually Exclusive, Collectively Exhaustive)
In approaching the problem, a good structure breaks it into components that can be individually addressed. Each component should be distinct from one another with no overlaps, but collectively, they manage to cover all aspects of the problem. Make sure that this structure is relevant and not stick blindly to standard frameworks. Your structure should be communicated clearly to your interviewer.
Practice your numbers
Quantitative aspects of the case assess your ability to use numbers quickly to guide decisions. Feel free to make logical assumptions and reasonably round off numbers, but make sure to inform the interviewer as you do so. It is also good to familiarise yourself with the formulas of key financial concepts - including profit and market share. Your calculations should be accurate and integrated into the context of the case.
Keep up with current trends
Keeping up with trends will allow you to add nuance to your answers and demonstrate business acumen. It would be good to think critically about how different key trends will affect the business or industry in question.
Be innovative and concise in your recommendations
When brainstorming solutions, it is more important to be innovative and relevant than to have a long list of standard recommendations. You might even want to include quick evaluations of some of the most pertinent strategies. When summarising your recommendations, ensure that it is concise, clear and action-oriented. It should include justifications and evaluations such as potential risks and next steps.
Communicate your thought process to the interviewer
The interview is a dialogue between you and the interviewer. It is as important to communicate your logic and underlying assumptions clearly as arriving at the recommended answers.
To help you get started, you can refer to the following resources:
This casebook provides case studies based on previous LSC projects. It contains the logic, thought processes and recommended answers and can help you familiarise with the types of business problems and questions asked . Practicing cases will help you get comfortable with the flow of a case and boost your confidence.
This 30-minute mock interview takes you through example prompts during a case interview, sample responses as well as reviews and tips for you to further refine your answer. A very targeted and informative resource!