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🎯 Key Takeaways for quick navigation: 00:06 🎙️ *Introduction to the Consulting Case Interview* - Introduction to the live case interview demonstration by consulting confidante. - The hosts, Shawn Glassman and Dave Ma, are ready to present a live case. 00:19 🕵️♂️ *Case Briefing: Hal Panca's Growth Strategy* - Briefing of the case: Hal Panca, a 1930s Chicago gangster, seeks to grow his business. - The case involves exploring strategies to accelerate growth from 20% to over 50%. 01:13 📝 *Summarizing vs. Repetition in Case Interviews* - Importance of summarizing the case instead of repeating it verbatim. - Emphasis on understanding and rephrasing the case prompt in one's own words. 02:06 📈 *Discussing Strategies for Business Expansion* - Strategies for expanding Hal's business portfolio and revenue are discussed. - Consideration of organic growth, entering new industries, and mergers and acquisitions. 04:21 🤔 *Case Analysis and Strategy Development* - Detailed analysis of potential growth strategies and market competition. - Exploration of different pricing schemes and competition to inform business strategy. 07:08 📊 *Interpreting Data and Market Insights* - Analysis of market segments and growth potential, particularly in alcohol. - Discussion on the strategy of expanding alcohol production and exploring new markets. 09:17 💡 *Gaining Insights from Charts and Market Data* - Extracting subtle insights from charts to understand market size and potential. - Analyzing revenue by segment and market size to inform expansion strategies. 11:26 🌆 *Considering Market Expansion to Other Cities* - Evaluating the potential of expanding the business to New York and other cities. - Analysis of market dynamics, competition, and consumer tastes in potential new markets. 13:20 🚀 *Strategic Alliances and Market Entry* - Discussing potential partnerships and joint ventures for market entry. - Evaluating the strategic implications of entering new regions through alliances. 16:22 📊 *Calculating Profitability and Investment Decisions* - Calculation of potential revenue, costs, and profitability of the proposed expansion. - Assessing whether the investment is viable and aligns with business goals. 20:33 🎯 *Concluding the Case and Final Recommendations* - Final analysis and recommendation to expand to Newark as a strategic move. - Emphasis on aligning with the goal of 50% annual growth and long-term expansion. Made with HARPA AI
You both make this look easy man, but the difficult part sometimes is to be able to feel comfortable in front of somebody with poker face, l prefer if client makes faces or agree but a poker face is difficult to read on something that might be too subjective. 1. I would combine ice cream with alcohol :) , offer special ice cream at special cost . 2. Then of course loans for the casino giving out some upfront credit maybe? lol 3. Instead of 4 businesses reduce costs to manage onlyo 2 businesses, food and gamble with loans. Maybe creating a strategy, in which house always wins, like supermartingale of some sort for the casino, having a portfolio of debt from people as an asset for more loans, cut losses and expand icecream booz business. That'd be my crazy hypothesis :) awesome guys, thanks
Would this be correct if you broke down the customers on a household bases. Example. There are 300M people in US, assume 5 people per house therefore 60M households. Segmentation of household…addicted, normal, non-buying. The continue from here?
Thanks for the explanations! I was actually honestly quite confused about the chart (size of the bubbles and their relationship to the x and y axes, the meaning of the alcohol bubble being bigger than the $10 million Chicago market size bubble, etc.), so I would not have been able to pick up on that insight because of the confusion. What's the best way to ask questions for understanding, and how much are you allowed to question the interviewer on the chart to understand it before you start looking bad?
This type of thinking is called Fermi thinking/ Fermi Problem Solving. If you enjoy solving Fermi Problems, check out fermiproblems.in There are regular posts on Fermi Problems with a variety of sections. There's a newsletter you can subscribe to for a weekly problem.
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Question, why did you provide a solution before understanding the whole business? Ex. If I am going to analyze it, my response would be to ask before recommending. So before I'm going to provide the "organic and inorganic approach, or etc" I'll ask to separate each category first, ex. Alcohol - if you want to grow your business here, more what is the current situation of your alcohol business? it is illegal so what is the "law" in the places you are working on that could potentially ruin the overall business. Gambling - same with gambling, what is your current data etc etc, then once the data has been presented, that's when I will recommend, my key is understanding the past before going on to the future, what do you think of that approach? Sorry, I haven't finished watching I just realize that you recommended first before really knowing their current situation
lullabai It is rounded off for ease of calculation. The cost of computing an accurate result outweighs any benefit from this added accuracy. Use 80/20 rule.
Wonderful video! I have never seen such a clear layout for a case as this chart and it’s totally brilliant. This is really going to help me going forward!
I am a biotech graduate and wish to get a consulting job at BCG or Bain and company Is an MBA necessary for this post or is there another way to go about it??
Can you include restaurants, pizzarias, deli's, caterers, fast food chains, school, college, company cafeterias supermarkets, groceries, and cheese varieties?
Consulting case interviews are not about getting the right answer. Those of you who said this case was easy focused on the mathematical mechanics of getting the right answer. It was about how you approach the case, how you communicate, how you connect with the interviewer that will reflect whether you have the potential to become a successful consultant.
I'm preparing for a Capitol One style interview and they interview all of their analysts & software developers this way. This is the most helpful so far! Thanks
