INSEAD CONSULTING BOOK 2006 ICC [INSEAD CONSULTING CLUB] Sponsored by: INSEAD Consulting Book – 2006 - 1 - 1. Introduction............................................................................................................................ - 4 - 2. Timeline of Consulting Job Search Process.............................................................................. - 5 - 3. Company Specific Information................................................................................................ - 6 - History and Evolution of Management Consulting...................................................................................... - 6 - General Structure of the Industry (stylized) ................................................................................................ - 7 - Main types of consulting firms: ................................................................................................................ - 7 - Global trends in Consulting..................................................................................................................... - 8 - Profiles of Consulting Firms .................................................................................................................. - 10 - 4. The Post-MBA Consulting Job.............................................................................................. - 17 - Typical Career Progression Path............................................................................................................. - 17 - Everyday job – Key tasks ...................................................................................................................... - 17 - How the Staffing Process Works ............................................................................................................ - 18 - 5. Informational Interviews....................................................................................................... - 19 - Tips ................................................................................................................................................... - 19 - 6. Cover Letter & Resume Preparation...................................................................................... - 20 - The Goal of your CV and Cover Letter ................................................................................................... - 20 - Your CV (Resume)............................................................................................................................... - 20 - CV Tips.............................................................................................................................................. - 21 - Cover letter......................................................................................................................................... - 21 - Cover Letter Tips................................................................................................................................. - 21 - Sample Cover Letters ........................................................................................................................... - 22 - Sample Resumes .................................................................................................................................. - 26 - 7. Case Interview Tips .............................................................................................................. - 31 - 8. Review of Frameworks.......................................................................................................... - 33 - Cost Analysis....................................................................................................................................... - 33 - Market Analysis ................................................................................................................................... - 39 - Market Size ......................................................................................................................................... - 40 - Analysis of Competitive Position............................................................................................................ - 46 - Make or Buy Decision .......................................................................................................................... - 51 - 9. Practice Cases....................................................................................................................... - 57 - Gas Retail Case.................................................................................................................................... - 57 - Oil Tanker Case....................................................................................................................................... 62 Video Game Case .................................................................................................................................... 64 Petro Company Case ................................................................................................................................68 Jet Fighter manufacturing case ................................................................................................................... 76 Discount retailer Case............................................................................................................................... 80 Medical Software industry Case .................................................................................................................. 84 Mobile telephony Case.............................................................................................................................. 90 INSEAD Consulting Book – 2006 - 2 - Fast Food Case........................................................................................................................................ 92 Toy Manufacturer Case............................................................................................................................. 94 10. Additional Sample Case Questions ...........................................................................................95 11. Other Resources .......................................................................................................................96 INSEAD Consulting Book – 2006 - 3 - 1. Introduction The ICC (INSEAD Consulting Club) is pleased to present the INSEAD’s second Consulting Book – the 2006 updated version, following up on the tradition created by the 2005 class. This book was created with the aim of assisting you as you prepare for a career in consulting. The book consists of sections that detail the different steps within the job search process. It starts with an overview of trends in the Consulting industry and provides you with an overview on a selection of leading Consulting firms. This would serve as part of your background knowledge as you begin conducting informational interviews. The informational interviews serve two main goals: finding out whether there is a fit between you and the company, and acquiring more information on the company to be used in your cover letter or interview. In the section for resumes and cover letters, we have included samples of resumes and cover letters from students who were successful in their consulting job search. In addition, to assist you when you prepare case interviews, we have included a collection of case frameworks and a set of practice cases, which you may use to further polish your case- interviewing skills. We would like to acknowledge the support we received from the Boston Consulting Group, without which producing this book would likely not have been possible. We would also like to express our gratitude for McKinsey & Company, BCG and Bain for providing us with materials and for helping the ICC and Career Services put together a wide array of consulting-oriented activities, including “Crack a Case” sessions, coffee chats, mock interviews and more. We feel that cases sponsored by the different Consulting firms are a good representation of cases that you can expect at your interviews because they have been used by these firms for actual case interviews as part of their recruitment process over the past years. While this compilation may not be exhaustive, we do hope these cases give you a flavour for what to expect in your interviews. Remember, practice makes perfect! We would also like to thank the 2005 CC board members for initiating this emerging tradition of producing and distributing the INSEAD Consulting Book free of charge. We are also very grateful to the current students, ex- consultants, and alumni who have contributed significantly both to this book and to the ICC’s ongoing activities, in the form of mock interviews, CV reviews, industry background presentations, informal chats and just generally helpful feedback and input. Finally, our most sincere thanks go to the INSEAD Consulting Club members who have made this book a reality, and in particular to the one man without whom all this would not have been possible: Stan Belot. ICC Board, 2006 INSEAD Consulting Book – 2006 - 4 - 2. Timeline of Consulting Job Search Process January Promotion More Sector Self Assessment & Summer Go For It! Research Internship hunt Break P4-P5 P3 P1-P2 - Self Assessment - Networking - Attend company presentations - Attend Mock-interview sessions - More Research INTERNSHIP - Company case-interview sessions - Prepare CV & Motivation letters - Just CHILL! (for e.g. The BCG Case Interview - Do Informational