1.2 Having and Conveying an Overall Strategy

Section 1.2.1: Overall Strategy

It involves defining a coherent approach that will guide the analysis and problem-solving process throughout the interview.
 

Approach

• Structuring the Case: The overall strategy acts like a "Table of contents" for the case interview, outlining the major areas of focus and the methods of analysis that will be employed. This structure ensures that every aspect of the case is addressed methodically and that the analysis progresses logically.

• Establishing Scope and Direction: After initial clarifications with the client about the problem and the company's context, the strategy provides a roadmap. This not only guides the consultant but also helps the interviewer understand the candidate's plan for navigating the case.

• Breaking Down Complex Problems: The strategy involves breaking the case into manageable parts, which can then be analyzed individually. This simplification helps in maintaining focus and ensures comprehensive coverage of the problem.
   

How to do it?

• What it Entails: The overall strategy is usually a breakdown of the case into simpler, more manageable parts. Each part is designed to address specific aspects of the case, ensuring thorough coverage.

• Significance: This approach is crucial, especially in cases with no set pattern or solution, such as market entry or unconventional problem scenarios. It prevents the consultant from getting lost in irrelevant details and helps maintain focus on the primary objectives.

• Execution: The consultant outlines the strategy after the preliminary questions phase. For instance, in a market entry case for introducing a luxury car in India, the strategy might be: first, estimate the potential profits in the Indian market; second, assess the feasibility of establishing a full value chain; and finally, discuss potential market entry barriers and provide recommendations.
   

Why It's Important?

This strategy helps avoid analysis paralysis and ensures that the consultant's approach is systematic and structured. It provides clear checkpoints throughout the interview, allows for timely corrections if off track, and ensures that all analyses contribute directly to solving the client's problem.

Section 1.2.2: Sub-Strategies

It focuses on breaking down the overall approach into actionable and focused steps, allowing for a detailed exploration of each segment of the problem.
 

Approach

• Segmentation of Strategy: Once an overall strategy has been established, it is critical to divide it into smaller, manageable sub-strategies. Each sub-strategy targets a specific part of the problem, allowing for deeper analysis and ensuring no critical areas are overlooked.

• Checkpoint System: Treat each transition between sub-strategies as a checkpoint. This system ensures that both the interviewer and interviewee are aligned on the progress and direction of the analysis. It allows for adjustments and refinements before moving to the next stage.

• Continuous Alignment: Regularly re-aligning the sub-strategies with the main objectives of the case ensures that the analysis remains relevant and focused on achieving the desired outcome.
   

How to do it?

• Implementation of Each Part: Each sub-strategy should be implemented with a clear understanding of its role within the overall strategy. For example, if the overall strategy involves entering a new market, one sub-strategy might focus on market analysis, another on competitor analysis, and another on assessing regulatory challenges.

• Feedback Loop: After executing each sub-strategy, gather feedback through analysis and discussion with the interviewer. This feedback helps refine the approach, ensuring that it remains on track towards solving the case effectively.

• Iterative Refinement: Each sub-strategy should be refined iteratively based on ongoing findings and feedback. This approach allows for flexibility in addressing complex or evolving case dynamics.
   

Example

• Client Scenario: A company considering the launch of a new product line.

• Overall Strategy: Evaluate the market viability, cost implications, and potential profitability of the new product line.

• Sub-Strategies:

  1. Market Analysis: Assess market size, growth trends, and customer preferences.

  2. Competitor Analysis: Identify direct and indirect competitors, analyze their market share and strategies.

  3. Cost Analysis: Determine the investment required, operational costs, and potential financial risks.

Profitability Assessment: Project revenues, calculate potential profits, and assess return on investment.