In this article, I will further explain this by using some illustrative examples.
Questions and Answers You will need to prepare for an interview where case study questions will be asked. While preparation is required for every job interview, extra time is required to adequately prepare for case study interviews. Providing an answer to a case study question involves much more than simply recounting the issues and problems set forth, it includes identifying the most important issues, employing sound and logical analysis, developing an action plan for addressing the problem s and making recommendations.
They want to see if you can identify what information is important, and what is not.
Occasionally, interviewers provide no detail at all to test your analytical skills when adequate resources are unavailable. Interviewers asking case study questions are primarily concerned with how effectively you can analyze a problem, determine key factors, brainstorm ideas, and propose workable, pragmatic solutions that are supported by your analysis.
When answering a case interview question, you want to showcase your ability to analyze a situation or business dilemma, identify the important issues, and develop sound conclusions that flow from your analysis. The most important thing is that your approach to answering the case interiew question is structured and logical.
The first thing you want to do is identify the parameters and factors, the then determine which are key to the case output. From your initial review of the case information you determine the main parameters to consider are total revenues and total costs.
You determine the factors influencing total revenues are average price of goods sold and volume of goods sold. And for total costs, fixed costs and variable costs.
With both the case parameters and factors clearly identified you give yourself the ability to steer the conversation and begin to identify possible solutions. Building a graphic representation tree, decision diagram, etc.
Most frameworks incorporate universal concepts that can be applied to various business issues. Show your interviewer that you understand these business concepts well enough that you can apply them to the specifics fo the business issue being presented in the case.
To perfect your ability to perform well in case interviews, we recommend reviewing each question and then developing a logical framework or approach for answering each one. Standard Case Interview Questions As is the case in real life, there is usually no single correct answer to standard case interview questions.
Below are some common standard case interview questions that provide great practice for case interviews. What would be your approach for introducing a product into a foreign market?
What are the risks and benefits to consider i. Company ABC is struggling, should it be restructured? What is the most important problem the company is facing? How would you recommend the company address this problem? How would you turn this company around?Case Study-Basic steps, questions and answers.
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An effective case study starts with a great interview. These five tips will help you ask relevant questions and elicit answers that build persuasive case studies.