Starting Structure/Framework

Question

Hi Peers,

can you please feedback this structure for the case?

(sorry, the structure is hard to visualise here in text)

- Why is revenue declining for Muse19?

*Internal:

Revenue:
1. number of visits
  1. number of visitors
    1. Trends
      1. Consumer/museum trends
        digitisation
        experience museum
        relevance of our offering (relevant art in the museum?)
      2. Trends in no of visitors per year
    2. Seasonal variation
      1. seasonal in the year
      2. shorter exhibitions
    3. Length of stay
    4. Our product offering
      1. museum entrance
      2. workshops and seminars
      3. other services
  2. customer segments and preferences
    1. A: Tourists,
    2. B: students,
    3. C: others

1.2. Average spend:

Private customers:
1. ticket price for entrance
  1. standard
  2. discounted
  3. membership
2. other spendings such as museums shops and cafe (cross-selling)
3. donations
Institutions, companies government or similar
1. cash donations
2. material donations
3. grants and subsidies

2. Costs

2.1 Direct costs for opening hours

2.1.1 Labour (cashier, shop, cleaning)

2.1.2 electricity

2.1.2 Experts for workshops, seminars & co

2.1.3 Info material, printing tickets etc.

2.2. Indirect costs for the Muse19

2.2.1 Rent Museum (and office)

2.2.2 Admin

2.2.3 Sales & Marketing

2.2.4 Security services

2.2.5 Maintenance of art and building

3. Our internal capabilities

3.1 Knowledge in Marketing, PR, Communication

3.2 Capacity in Sales and fundraising, lobby work

*external

4. Competition

4.1. benchmarking with competitors

4.1.1 Prices

4.1.2 Offerings, products, services

4.1.3 USP

4.2. Relationship with museums

4.2.1 Synergies

4.2.2. Collaboration possibilities

4.2.2.1 Ticket for all museums

4.2.2.2 Events, Workshops, seminars

4.3 Collaboration with other stakeholders such as hotels, restaurants, public transportation

Would you name costs? In my first attempt I did, segmenting the costs in overhead, labour, rent etc.

Answer 1

Hi there,

Ok, so technically your breakdown is well thought out. You've done a good job!

A few thoughts though:

Context is so important. Nothing about this structure is tailored…I need to know the industry, what's happening, the full prompt etc. From there my framework will totally change
This is too much. This is more of a driver tree than a framework and I'd be concerned about your ability to create this in 2 minutes
Remember a framework isn't just a list of ideas, it's an objective-driven approach to solving the problem (more below)

How do I use frameworks in a case?

If there's anything to remember in this process, it 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 2

Hello!

You did a very good job.

However, realistically, you cannot do this in the 2-3 mins max (adding the pressure of having to think on your feet) in the interview day. Hence, I would focus on speed and shorter structures, to be better prepared for what you will see in the interview day.

Hope it helps!

Cheers,

Clara

Answer 3

Well, that’s way more than I can do in two minutes. If you feel comfortable with building such a detailed structure and you can explain it in a simple and short way, this is pretty good.