555: Build hypotheses with decision trees (Case Interview & Management Consulting classics)

555: Build hypotheses with decision trees (Case Interview & Management Consulting classics)

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.

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Episoder(817)

180: Retail Banking

180: Retail Banking

This detailed podcast, by the engagement senior-partner, discusses the challenges and complexities of running an engagement to advise on the economics and strategy of a large micro-finance enterprise.

7 Feb 201419min

179: Premium Books

179: Premium Books

In this podcast we discuss the detailed effort which goes into preparing the multimedia/premium management consulting books. We discuss the engagements we run and the client issues faced, the development of hypotheses, data collection, analyses, model building, client management and preparation of the final recommendation. We thereafter discuss how all of this, including the extensive video footage, is brought together to produce each of the 4 multimedia books.

1 Feb 201415min

178: Editor's Notes

178: Editor's Notes

In this podcast we isolate the 5 most important and counter-intuitive lessons from the popular book.

26 Jan 201421min

177: Partnership

177: Partnership

In this podcast we introduce one of our most popular books, Partnership. This is a memoir written by partner who served in that position at 2 of the big-3 firms.

20 Jan 201413min

176: Introduction to Our Culture and Values

176: Introduction to Our Culture and Values

This detailed podcast introduces Firmsconsulting and our distinctive heritage which is best exemplified by these three quotes: "Business properly conducted could be as high a calling as anything." Marvin Bower "If you are not willing to take pain to live by your principles, there is no point in having principles." Marvin Bower "Management consulting is no individual's right as a career. It is the single greatest privilege of a business professional to earn the trust required to advise a client on his/her most pressing issues." Michael Boricki

14 Jan 201431min

175: Peter on McKinsey Middle East With a PhD

175: Peter on McKinsey Middle East With a PhD

Peter is a PhD candidate from the USA who joined McKinsey Middle East a year ago. The striking thing about Peter is his level of confidence and the fact that he does not sound like a PhD. He is a candidate who initially pursued the USA and thereafter opened interviews at another highly competitive office where he was successful. Peters interview is more for the journey he goes through to build his confidence and learn about his potential. I have personally admired this candidate because he seems to closely follow the strong values-based path Firmsconsulting expects of our alums.

8 Jan 201445min

174: Edward on Networking with BCG Partners

174: Edward on Networking with BCG Partners

Edward is one of the most effective networking clients in our program. Although a relatively-older candidate from a non-target school, he was able to meticulously follow our advice on networking to eventually build a very effective support network of partners and consultants at his preferred offices. This wide-ranging interview is important because it demonstrates the primacy of our networking approach. Firmsconsulting believes that if you take the time to do the appropriate due-diligence and build sincere reasons for joining an office, this sincerity will come through in any discussions. It is interesting to see how Edward developed this approach over a 5 month period through trial and error to eventually secure strong endorsements from very senior partners. On a personal note, I do believe Edward is one of the most impressive alums of our program. He is steeped in our tradition of values and ethics before all else and to us, that is what matters the most.

2 Jan 201457min

173: Sanda on Joining McKinsey BCG et al

173: Sanda on Joining McKinsey BCG et al

Sanda is a brilliant commerce graduate from South-East Asia. She is the first person in her entire family to attend university. She taught herself English at university by watching "Friends" and "The Good Wife" among other shows, especially in-depth business media, and is the very first person from her university to ever join MBB. In this extensive interview, Sanda describes her tough background and experiences as well as her smart strategy for joining the elite consulting firms.

27 Des 201340min

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