Crack the cases Flashcards
1
Q
What is the good process to brainstorm / build issue tree?
A
- clarify the context and definition of key terminology
- define direct drivers and indirect drivers of tourism revenue, ideally big buckets.
- use 80/20 rule, prioritize the buckets, then branch out each bucket with more details. –> prioritization is the key. it has to be done first, then go to next step.
2
Q
How to manage your energy through an interview day?
A
- get some offers from other small firms first to get confidence
- don’t try to be someone else, which consumes your energy. Be yourself.
3
Q
what is the process of communicating estimation and underlying assumptions?
A
- communicate the structure that is mapped out first and high level thought process to interviewer before explaining details
- start with major direct drivers to show that you can prioritize
- explicitly pinpoint out where the assumptions are and say to interviewers “I made some assumptions along the way, please let me know if you need me to explain any specific assumptions in details.”
- then walk into details
4
Q
Listen carefully to the questions.
A
i.e. is it a question about the events that happened already? or it’s about how to do something? you should adjust the tense accordingly.
5
Q
What are the steps of estimation case?
A
- ask clarifying questions
- think about whether supply equal or exceed demand
- develop a full equation
- talk through the high-level structure and approach to interviewer and ask if any data can be provided
- add in own assumptions if data are not available
ask if interviewers have any questions about the assumptions - if no further questions, go ahead to complete calculations
- complete sanity check by reducing answers to intuitively comparable number
6
Q
for the broad case, what is the most effective way to solve the case?
A
have a structured tree with all (major) components, use judgements to choose the the most likely branch to form a hypothesis.
