801: Structure fails at 60% McKinsey cases (Case Interview & Management Consulting classics)

Welcome to an episode with the Editor-in-Chief of the Harvard Business Review Group, Adi Ignatius. In this episode with Adi Ignatius, we discussed timeless pieces from the Harvard Business Review, deep-dived into the business ideas and concepts within, and discussed how its perspective on business ideas helps us prepare for the future. Adi shared how HBR’s mission changed from the time it was founded and how it is improving for readers. Adi Ignatius oversees the editorial activities of Harvard Business Review, hbr.org, and HBR’s book-publishing unit. Prior to joining HBR in 2009, Mr. Ignatius was the No. 2 editor at TIME. He is the editor of two books: President Obama: The Path to the White House and Prisoner of the State: The Secret Diaries of Premier Zhao Ziyang. Both made the New York Times Bestseller List. Adi lived and worked overseas for nearly 20 years. He was Editor of Time’s Asian edition and served as Beijing Bureau Chief and Moscow Bureau Chief for the Wall Street Journal. He is also host of the HBR Channel. Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

22 Maalis 202349min

Welcome to an episode with one of America’s most respected and accomplished voices on women as leaders and their relationship with power, Carolyn Buck Luce. Have you ever wondered what the world looks like from someone else’s point of view? We are all born different, with unique perspective, set of skills, talent, and experience, and with this combination, we can write our own story and design a life that is aligned with our purpose and meaning. As Carolyn said, “If you want to live in a way that is worth dying for, you can choose the most epic story for yourself knowing that you already have everything you need to have a life of meaning and purpose. The only question is how you want to invest your time, your trust, your talent, and your treasures.” Carolyn Buck Luce is a sought-after speaker, she was appointed by New York City’s former Mayor Bloomberg to his Commission on Women’s Issues and has co-authored numerous articles in the Harvard Business Review on women’s leadership, as well as diversity and inclusion. Across five decades, Carolyn has been a successful diplomat, Wall Street banker, management consultant, healthcare futurist, talent innovator, professor, author, philanthropist, wife, mother, and grandmother. Carolyn’s life journey navigating a man’s world has given her a unique perspective on living an epic life of meaning and purpose, regardless of the obstacles. Today, she uses her proprietary Decade Game to coach leading women around the globe to step fully into their power at home, at work, and in the world. Connect with her at carolyn@mydecadegame.com. Get Carolyn’s book here: Epic!: The Women's Power Play Book. Carolyn Buck Luce Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

20 Maalis 20231h 5min

Welcome to an episode with a leading expert in digital marketing, Dr. Mindy Weinstein. In this episode, Mindy discussed how to leverage the principle of scarcity to influence customer decisions, boost sales, and positively impact your business. She also shared the four types of scarcity: time-related, supply-related, demand-related, and limited edition. In this conversation, Mindy highlighted the importance of using scarcity ethically and developing marketing tactics that align with your product or service that aim not only to sell but to help your audience and customers. Dr. Mindy Weinstein is a leading expert in digital marketing and has been named one of the top women in the industry globally. Founder of the digital marketing firm Market MindShift, she has trained thousands of professionals from organizations of all sizes, including Facebook, The Weather Channel, and World Fuel Services. She has a doctor of philosophy degree in general psychology with an emphasis on technology and is a marketing instructor at Grand Canyon University and the University of Denver, as well as a program leader for The Wharton School and Columbia Business School. Weinstein uses her experience and knowledge as a marketer, researcher, teacher and scholar to help businesses increase revenue. She is the host of the popular podcast, Persuasion in Business, and is a global speaker. Weinstein is married, the mom of two boys, and calls Arizona home. Get Mindy's book here: The Power of Scarcity: Leveraging Urgency and Demand to Influence Customer Decisions. Dr. Mindy Weinstein Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

15 Maalis 202347min

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss why you need case interview structures. Despite the words “framework” and “structure” used so often, most candidates cannot explain what it is and why it is used. Unless you know the latter, you tend to misuse the framework and incorrectly use it in a case. This podcast presents the need for case structures from the viewpoint of the interviewer or engagement partner. It indicates that case structures are not there merely to guide you, but to guide the person guiding you. And if you extend this to its logical conclusion, if the framework is their to guide the interviewer, then communicating your structure and thinking becomes very important. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

13 Maalis 202311min

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss about candidates drowning in feedback. They want as much good feedback as possible and speak to as many people as possible thereby receiving lots of detailed and sometimes average feedback on their performance. There are two problems here. First, much of this feedback will likely be contradictory and possibly misleading. Second, the candidate will literally drown in this feedback usually consisting of a 2-page list of improvement areas. We expect our candidates to always prioritize the top 3 issues and tackle them, as explained in this podcast. It is vital to follow this 80/20 principle and ignore the majority which will be of little value overall. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

8 Maalis 20238min

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss the disclosure rules on resumes. Candidates sometimes divulge too much confidential details, or too little in interviews, resumes, cover letters and LinkedIn profiles. These are the rules for disclosure. It is important to remember that disclosing confidential information merely indicates to McKinsey that you cannot be trusted with their own client information. Moreover, disclosing information on your resume and hiding it from your LinkedIn merely means you are aware of the ethical breach you are making. It is important to avoid these problems at all costs. From the beginning, be the person that is worthy of a consulting firm. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

6 Maalis 20238min

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss how build hypotheses with decision trees. Building hypotheses is very difficult. Most candidates in a McKinsey, BCG et al interview would not know when to build the hypothesis, what comprises the hypothesis, how to test if it is MECE etc. This simple technique is one way to build hypotheses and used on real consulting engagements. It was developed to help candidates prioritize their analyzes and ensure the hypotheses are MECE. When practicing this technique note that the development of the decision tree must be done quickly and cleanly. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

1 Maalis 20239min

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss an example of poor case dialogue. Interviewers can only respond to what you say, and poor communication, like in this example, not only wastes time, but is a poor reflection on your candidacy. This is a crucial point to remember. No matter how brilliant you may be, if you cannot communicate that brilliance, and do so in a manner laymen would understand, your intellect counts for little in a case interview since it is all about demonstrated competency. You must demonstrate your competency. Period. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

27 Helmi 202311min