How to ask insightful questions within the buckets of a specific case question?

Question

Hi community,

I have been practising on improving my frameworks and making them as MECE as possible. I’ve observed that long term strategy cases such as those on long term investments, product launch, M&A etc require you to formulate various buckets.

What I usually do is tailor my buckets according to the problem statement, including categories such as Distribution, Suppliers, Regulations etc when necessary. Most of the time, my buckets match with those in sample solutions proposed in case books, which is great.
What is not so great, is that my questions within those buckets aren’t insightful enough.

I tend to ask the broadly generic questions such as segments, drivers, market share, channels - which makes me feel like I am not creative enough. For example, a sample case on beer delivery services proposed a question within the “competition” bucket, included whether consumers would prefer our service given that we only carry beer and not other types of liquor such as gin and vodka. Another question I recall included whether we can legally stop our beer sales to delivery companies so that only we have the opportunity to sell beer.

I had not even thought about these questions. There is clearly a skill gap that I need to address ASAP in coming up with insightful questions.

What are some ways I could quickly and effortlessly come up with questions that are highly relevant and creative?

I regularly read financial and business news, and have a really great handbook on industry deep dives, so gaining industry knowledge is not a problem. How I use that seems to be that problem.

Answer 1

This is such a common problem! Consulting companies are trying to make cases which don't fit traditional structures more and more as they want to see how you think, not whether you can remember a framework.

When you're faced with a question like this, my top tip is to put yourself in the shoes of either the company or the client and think through what they might think about in their day to day business.

So in this situation:

If you own a beer delivery company you'd be thinking about:

Step one: know who your customers are and ensure that customers know that you exist → marketing
Step two: make sure they can book your delivery service → digital enablers e.g., booking website / app
Step three: make sure that you have what they want - the right type of beer, products that they get along with beer (hard liquor), food? → product
Step four: make sure they can pay you → digital payment systems
Step five: make sure they get the product in good time and at a high quality → distribution system, packaging

Then think about what the client might want:

Step one: choose a beer delivery company that has the products you want at the price that you want → competition, price
Step two: book, pay, get the product (same as above)
Step three: next time you book beer, use the same company → customer retention

So now you have a long list of factors, and you want to bucket them. I'd look over what I have and then do something like this:

Marketing and digital enablers: marketing, booking systems, payment systems
Product: types of liquor stocked, other products that could be sold alongside
Competition: how do they price, what is their product mix?
Logistics: how do you distribute the beer? Where are the depots? How does this relate to where the customers are?

There is no right answer for a question like this! This will help you to get to more specific answers

Answer 2

Hi there,

“Most of the time, my buckets match with those in sample solutions proposed in case books, which is great. ”

This is not inherently great! Please be careful…a lot of the sample frameworks are not very good.

I highly highly recommend coaching - this is the hardest thing to learn in casing (frameworks + case leadership)

1) Here's some reading: https://www.preplounge.com/en/articles/how-to-shift-your-mindset-to-ace-the-case

2) Continue your daily reading

3) Save + review old cases

4) Learn by casing others

5) Read the below:

I'm going to take a step back and answer the question you're really asking: How do I use frameworks in a case?

If there's anything to remember in this process, is that cases don't exist just because. They have come about because of a real need to simulate the world you will be in when you are hopefully hired. As such, remember that they are a simplified version of what we do, and they test you in those areas.

As such, remember that a framework is a guide, not a mandate. In the real-world, we do not go into a client and say "right, we have a framework that says we need to look at x, y, and z and that's exactly what we're going to do". Rather, we come in with a view, a hypothesis, a plan of attack. The moment this view is created, it's wrong! Same with your framework. The point is that it gives us and you a starting point. We can say "right, part 1 of framework is around this. Let's dig around and see if it helps us get to the answer". If it does, great, we go further (but specific elements of it will certainly be wrong). If it doesn't, we move on.

So, in summary, learn your frameworks, use the ones you like, add/remove to them if the specific case calls for it, and always be prepared to be wrong. Focus rather on having a view, refering back to the initial view to see what is still there and where you need to dive into next to solve the problem.

Answer 3

Hi there,

A few great answers below already, so let me just add a couple of points.

First, the expectations in terms of how ‘insightful’ your answer should be, are really based on the role that you are applying for. Basically, if you've worked already for a couple of years in an industry, you are expected to understand already how businesses work and this should come across from the way you approach a problem. This expectation doesn't exist if you're fresh out of university. So try and not stress yourself more than necessary.

Two, aim to develop your knowledge organically. Focus on practicing cases in a qualitative rather than quantitative way, reflecting on what can you learn from each of the business situations and the answers provided in the case book. Don't go out trying to learn random business knowledge or reading business publications because that's a wild sheep chase.

Third and last, get mentorship from somebody who can teach you these things. It could mean coaching, it could also mean getting in touch with someone who is willing to guide in this process and make it more efficient for you.

Best,

Cristian

Answer 4

Hi there,

it seems you got into the common problem trying to follow given procedures/frameworks, which will only limit your thinking and you will likely fail. I would strongly recommend to be (just) aware of those procedures BUT use your critical thinking by:

1. Understanding what is the problem by understanding the root cause

2. PAY attention to detail, they make a huge difference

3. Prioritize, 30 min to solve a case we at MBB have been solving for month, you need to know what moves the needle

Happy to support if needed,

Lucie

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Answer 5

That is going to be very hard to do, because you are organizing your structure around “investigation areas” (that's what buckets are) instead of decision drivers / questions you need to answer in order to decide on something. And “investigation areas” are generic and broad in its nature.

I suggest you start practicing thinking FIRST about what are the critical questions that will address / answer the case objective, and then try to organize your thoughts (or “buckets”, if you will) around that.

To give a practical example, if you are going to think about market entry, “customers, company, competition, channel" doesn't give any insight on how to solve the problem. Yes, they are the right areas of investigation, but one would still be oblivious on how these would answer the question.

Instead, you should be thinking about how a decision would be made: 1) Is the market attractive/profitable; 2) What customer segments should I target?; 3) Is my value proposition better that competitors' to address those customers?; 4) What investments or partnerships are required to reach that segment (e.g. channels, factory, etc.); 5) Does this make financial sense?

I hope this sheds some light on how to approach cases at a more advanced level.

Answer 6

Hello!

What you describe is not at all uncommon, is totally normal part of the journey when learning how to get proficient at casing - and one where many people indeed get stuck.

Have you considered working with a coach? This would help you diagnose better and have an action plan to bring the casing to the next level.

Cheers,

Clara