How to prepare for Case study competition from scratch?

Question

I want to learn and prepare for Case study competition. Do I have to study any particular subjects before moving on to case studies, or should I directly jump into them? I have an economics background. It would be grateful if I get some tips and Thank you in advance

Answer 1

To excel in case study competitions without prior experience, leverage your economics background and follow these steps:

Basic Training:
- Accounting Essentials: Familiarize yourself with financial statements using free online resources.
- Business Frameworks: Understand frameworks like SWOT analysis and Porter's Five Forces to analyze business situations effectively.
Dive into Practice:
- Immediate Practice: Begin solving practice cases without delay, starting with beginner-friendly ones.
- Accessible Resources: Utilize free case studies from websites like Case in Point or consider premium services like Vault Guides for more comprehensive preparation.
Sharpen Your Skills:
- Structured Approach: Follow a structured problem-solving method: identify the problem, analyze, brainstorm solutions, and recommend the best.
- Consistent Practice: Solve numerous cases to improve analytical abilities and time management skills under pressure.
Bonus Tips for Success:
- Team Collaboration: Form study groups to gain diverse perspectives and enhance teamwork skills.
- Mock Interviews: Participate in mock case interviews to build confidence and refine delivery.
- Learning from Experts: Attend workshops by experienced consultants and study strategies of case competition winners.

Leveraging Your Economics Background

Your economics background provides a significant advantage:

Market Analysis: Apply economic principles to analyze market trends and customer behavior effectively.
Financial Evaluation: Utilize economic knowledge to evaluate the financial impact of solutions, crucial in case competitions.

With dedication and practice, you can become a case study competition rockstar in no time! Good luck!

Answer 2

You may have to study a particular subject… if the case competition is about a particular subject. I was in case competitions where there were “technical” problems to solve, others where there weren't.

Other than that… case competitions are very different from “case interview practice”. My personal experience is that creativity and “wild ideas” are much more valued than rigorous evidence-based analytical thinking. But… this might be just a biased sample.

What I know is that knowing the specific case competition, how it works, which ideas won in the past, who is going to be the judge… all of that is more relevant than generic “case study competition” advice.

Answer 3

Hi there!

Looks like you got a really comprehensive answer from Gaurav there that I can only support.

I just want to add for yours and everyone's else benefit that you are absolutely having the right approach in preparing well for case studies competitions.

While it's totally fine to participate “just for fun”, they are really useful in recruiting and consultancies typically invest a lot of resources from their side - so they would be actively watching for good candidates. It can go a long way in your application process.

Good luck with the preparation!
Ariadna

Answer 4

Go for it.

This way you can learn organically, rather than spending lots of time upfront learning things that might not even prove to be useful.

But do take a step back once in a while to figure out what gaps you need to fill so you have clarity on what you need to spend more time polishing.

Best,
Cristian

Answer 5

Hi there, Q: Should I practice case studies daily, especially since learning is not just about quantity but also abou... (read entire answer)

Hi there, Q: Should I practice case studies daily, especially since learning is not just about quantity but also about the quality of feedback provided to me? It depends on when... (read entire answer)

Answer 6

Hi there, this is a loaded question and can only be answered generically here because I don't know where exactly your... (read entire answer)

Hi there, this is a loaded question and can only be answered generically here because I don't know where exactly your struggles lie. Overall though, “getting stuck with case stu... (read entire answer)

Answer 7

I highly doubt that it is the sole reason your friend landed the job at BCG, so I wouldn't overestimate its utility.... (read entire answer)

I highly doubt that it is the sole reason your friend landed the job at BCG, so I wouldn't overestimate its utility. I agree with the reasons other experts have put forward here... (read entire answer)