Before we look at individual Cases, it is important to begin by looking at analysis frameworks that commonly can be used to address Case Study questions. In this chapter, we will outline some of the core frameworks and some additional Consulting concepts that are important to grasp and will form part of many interviews. The frameworks will be helpful to answer certain types of cases, depending on the type of case. In reality, few case interviews or real-life business situations cover just one concept or business problem, so you have to have the flexibility to apply a range of concepts/structures. For example, a Company bringing a new product to market would require a market size analysis, competitor analysis, as well as understanding the key customer segments.

The more you practice, the easier the cases will become and the more articulate and structured you’ll be in your answers.

This is the very first #CaseInterview #preparation lesson every newbie should watch! This should act as a “home” and a “map” page for your #case interview #s. Policing 101 CRS is neither affiliated with, nor endorses, the authors of any of the sources or recommended readings in this toolkit. The sources and recommended readings are provided solely for informational purposes. According to the FBI, there are more than 18,000 local police departments in the United States.1 These. Consulting (“NERA”). I have expertise in statistics, sampling and survey methodology and I have provided expert testimony in these areas in a wide range of cases. My business address is 370 Interlocken Boulevard, 4th Floor, Broomfield, Colorado 80021. NERA is a firm providing expert economic, financial and statistical analysis.

An important note on this: historically, the vast majority of Consulting candidates have used specific business frameworks to answer cases. Frameworks remain important as concepts to answer Case Studies, but you should absolutely avoid any rigid use of a specific framework. In reality, the main purpose of learning the frameworks is to help you to structure your answers, just as the case situations in our later examples should do.

The key frameworks that follow should be used directly in certain Case situations, but more broadly they should be used as a way to expand your strategic thinking, which is the critical component of success in the Case Study interview process. Ultimately, a top-flight candidate will build his or her own framework/structure for evaluating the Case as it progresses, often drawing from many of the frameworks and concepts in this module, and potentially others. In other words, you should absolutely avoid using the phrase, “I will apply framework X to this case.” However, be aware of the “famous” frameworks in case they are mentioned in an interview setting, and don’t be shy about referencing them as you dive into the specifics of the Case Study you’re evaluating.

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Porter’s Five Forces

Porter’s Five Forces has become an incredibly well known framework in the business strategy world. It is probably the most famous of all of them. It was introduced by Harvard Professor and Monitor Consulting firm founder Michael Porter. Porter’s Five Forces is a high-level framework that you can draw upon to perform a market landscape and competitor dynamics analysis. It can help determine whether a market or company is attractive, whether the client for whom the analysis is being performed is a private equity firm thinking about buying a company, or a major company thinking about entering or exiting a certain market segment. In most cases, a Case Study will address at least some of the components found in this framework.

Here are the Five Forces in detail:

Porter’s Five Forces

Threat of New Entrants (effectively, this is “Barriers to Entry”)
1. Legal or regulatory barriers (for example, patents or government contracts)
2. Economies of scale
3. Cost advantage (for example, unique access to lower raw material costs)
4. Access to distribution channels
5. Product differentiation (for example, how is this product different?)
Competitive Dynamics
1. Industry growth rate
2. Industry fragmentation
3. Level of switching costs
4. Motivation to reduce prices (for example, from excess capacity)
Supplier Power
1. Level of substitute products
2. Buyer’s decision influenced by supplier
3. Supplier inputs/products have high switching costs
4. Supplier has potential to forward integrate
5. Supplier accounts for large share of the inputs/products
Buyer Power
1. High customer/client concentration
2. Level of commoditization of product/input
3. Level of switching costs for buyer
4. Buyer has significant product/market information
Threat of Substitutes
1. Substitute products/services that can compete on price and/or quality
2. Switching costs to shift to substitute products

The 3 Cs

This simple framework has been around for a long time as a way to think about any industry or company, and applies broadly to a wide range of Case Study questions. If you compare the description below to that of Porter’s Five Forces above, you will see that there is substantial overlap.

The “3 Cs” approach is to address any Case situation by assessing the:

Company
Competitors
Customers/clients

The 3 C’s

Company: the first C is about understanding the operations of the Company itself and how the Company makes money.
- Product/service offering
  - Pros and cons of product/service
  - Value chain
- Profitability analysis
  - Revenue (price × volume) and expenses
- Other Company factors
  - Capacity
  - Core competencies
  - Regulatory environment
  - Distribution network
  - Management and core employees
  - Other
Competition: the second C is about understanding how the competitors impact your client and how the competitive dynamics will change over time.
- Competitor mix/make-up
  - Market share
  - Fragmentation
  - Financial situation (for example, deep pocket competitors?)
  - Management
  - Other competencies (for example, marketing or distribution channels)
- Competitor products/services
  - Value proposition versus client
  - Value chain
Customers/Clients: the third C is often overlooked but is fundamental, and consists of knowing your clients/customers. Always ask for available customer information, as knowing what your customer wants/needs is important to winning in business.
- Customer mix
  - Demographics (age, gender, etc.)
  - Value of core customers/clients
  - Wants and needs of customers/clients
- Position with customer/client segments
  - Customer/client segment sizes
  - Customer/client segment shares
  - Customer/client segment growth rate
- Key drivers of customer/client decisions
  - Price
  - Product characteristics
  - Brand
  - Personnel (especially for B2B)

The 4 Ps

This framework is often used specifically whenever there is a marketing component involved in a case (for example: how to increase sales resulting from any profitability optimization case, deciding on an approach to enter a market, etc.). When combined with the 3 Cs, this framework can cover many topics and as you practice more Case Study questions, you’ll develop a better sense of when and how to draw from these frameworks.

The “4 Ps” approach is to address a marketing-oriented Case situation by assessing the:

Product
Price
Promotion
Placement

The 4 P’s

Product: it is critical to understand the Company’s product/service and its value proposition.
- Company product/service qualities, features, attributes
  - Commoditized or differentiated?
- Competitor product/service qualities, features, attributes
  - Commoditized or differentiated?
- Substitute product options
  - How close are the substitutes?
  - Value proposition versus substitutes (pric