Management Consulting Prep

JULY 18, 2019

Hypothesis is not only a useful tool for consultants but also candidate in saving time for Case Interview. The post Hypothesis vs Fact-based conclusion appeared first on Management Consulting Prep. It is not economically feasible to run thorough investigations for every single aspect of business.

Case Interview 40

Case Interview Interviews Tools Consulting 40

David A Fields

SEPTEMBER 18, 2018

Each balloon is an assumption, preconception, hypothesis or dream that only requires your confirmation. Your consulting clients walk into each engagement holding bouquets of helium balloons they want to release to the sky. Metaphorically, unless your clients are clowns.) [ ]

Consulting 274

Consulting 274

Harvard Business

SEPTEMBER 26, 2023

Operations managers have been using randomized decision-making since World War II (randomized search was used to locate enemy submarines in the open ocean), but it has not yet been seriously applied to strategic decision-making, which remains focused on hypothesis formulation and testing.

Conference 86

Conference Operations Strategy Strategy 86

Tom Spencer

AUGUST 8, 2021

Generate a Hypothesis and Structure Your Approach. Formulate an initial hypothesis. Work out what you will need to know in order to test your hypothesis and where you may need to make adjustments. What information do you need to test your hypothesis? Think about how you are going to solve the problem before diving in.

Case Interview 88

Case Interview Interviews Case Study Case Studies 88

CaseInterview.com

FEBRUARY 1, 2020

Like a scientist uses an experiment to test a hypothesis, a consultant uses a framework called an issue tree. An issue tree lays out a set of logical conditions that, if proven correct, prove the hypothesis correct. Hypothesis = then. If these three factors (Branch 1, Branch 2, Branch 3) are true, then the hypothesis is true.

Case Interview 59

Case Interview Interviews McKinsey Sales 59

Markovitz Consulting

APRIL 14, 2020

The scientific mindset—whether you call it Kata, or Plan-Do-Check-Act, or something else—directs you to first make a hypothesis, then run the experiment, and then check the results. But that doesn’t mean we should abandon the PDCA cycle.

Video 133

Video Meeting Efficiency Interviews 133

Tom Spencer

OCTOBER 14, 2022

A common mistake that young entrepreneurs make is trying to develop a product before formulating and testing a hypothesis about the problem that customers face. To know you are solving the user’s actual problem, you must validate your market hypothesis. What does this mean?

Software 88

Software Tools Development Resources 88

CaseInterview.com

JUNE 11, 2019

This way I can show the interviewer I am 100% hypothesis driven and I don't ask any irrelevant data. I was wondering what your view is on this method to apply to cases, this might help to form a HYPOTHESIS and ASK ONLY data which you 100% need. Minto Method: Hypothesis 1 - Profitability can be increased.

Case Interview 49

Case Interview McKinsey Interviews Airlines 49

Harvard Business

NOVEMBER 9, 2017

An alternative perspective on strategy and execution — one that we argue is more in tune with the nature of value creation in a world marked by volatility, uncertainty, complexity, and ambiguity (VUCA) — conceives of strategy as a hypothesis rather than a plan. Also like all hypotheses, it must be tested through action.

Strategy 28

Strategy Strategy Strategy& Boston Consulting Group 28

David A Fields

JULY 13, 2016

Norton’s gang studied their hypothesis using origami, which is not a product most people buy, but was undoubtedly easier for the researchers to haul around than pallets of build-it-yourself kitchens. This turns out to be an important finding for consultants.

Consulting 150

Consulting Construction Research Study 150

Harvard Business

JANUARY 9, 2018

My recent paper , coauthored with Naoshi Ikeda and Sho Watanabe of Tokyo Institute of Technology, empirically tests this quiet life hypothesis with Japanese data. Taken together, our results are consistent with the quiet life hypothesis. Left to their own devices, do managers really prefer the quiet life?

Management 28

Management Study Marketing Construction 28

CaseInterview.com

SEPTEMBER 10, 2019

I would simply use the word " hypothesis " instead of that entire phrase. So intuition, business acumen , or common sense is very useful in formulating a hypothesis. So intuition, business acumen , or common sense is very useful in formulating a hypothesis. It is far easier to test a hypothesis about the problem.

Case Interview 40

Case Interview Interviews Sales McKinsey 40

CaseInterview.com

SEPTEMBER 9, 2019

It helps immensely if you have a clear hypothesis , and are constantly working to disprove it. and when you can't, your final hypothesis must logically be the conclusion. highly testable) hypothesis, then the tendency is to have an analysis that's meandering with no point of focus that could legitimately go on and on forever.

Case Interview 45

Case Interview Interviews Analysis Resources 45

CaseInterview.com

SEPTEMBER 9, 2019

When you sense that you have a decision to make -- go deep or go broad--, I would suggest refining your hypothesis first. Sometimes the hypothesis can best be tested by finishing the rest of the framework. But in reality, you are letting the hypothesis guide you -- and "finishing" the framework is just a coincidence. (By

Case Interview 40

Case Interview Interviews Resources Analysis 40

Tom Spencer

NOVEMBER 5, 2021

You then go away and work on the problem based on your initial hypothesis. What makes consultants so valuable is their ability to use these insights to test an informed hypothesis, and to find the root cause of the client’s problems.

Consulting 88

Consulting Industry Efficiency Analysis 88

CaseInterview.com

MAY 22, 2019

To practice problem structuring in a case interview I recommend practicing the process of setting a hypothesis and devising an issue tree that tests your hypothesis. What's your hypothesis and how would you test it? It is okay if you are slow at the process in the beginning. the key is that you understand the process.

Case Interview 40

Case Interview Interviews McKinsey Policies 40

Tom Spencer

JANUARY 20, 2018

Develop Hypothesis. Once you have created a structure refer to it throughout the analysis and prioritize your thoughts by forming a hypothesis. Forming a hypothesis allows you to verify your assumptions, cross out menial factors, and come to the core of the problem time efficiently.

Case Interview 79

Case Interview Interviews Analysis Data 79

CaseInterview.com

AUGUST 12, 2020

As a matter of preference, you could change the order around and, say, start with a hypothesis. My hypothesis is that the 25% decline in intent to enroll comes from students from low-income families and international students. To disprove my hypothesis, I would need to look at two areas: Changes in Student Demand.

Case Interview 64

Case Interview Interviews Financial Survey 64

CaseInterview.com

MAY 13, 2021

The purpose of the framework is to start off comprehensively, until you stumble upon (a really appropriate word) some piece of data that prompts to formulate a more specific hypothesis. and then to ask for data to test that hypothesis. The Profit = Revenue – Costs framework does not answer this question.

Case Interview 52

Case Interview Resources Interviews How To 52

CaseInterview.com

AUGUST 12, 2019

Instead the framework is only meant as a starting point to lead one to be hypothesis and analytically driven. The next stage of the progression curve is to transition from purely memorizing a framework to using a framework as part of an information discovery process that leads to the creation of an informed hypothesis. (In

Interviews 40

Interviews Case Interview Consulting Video 40

CaseInterview.com

JUNE 24, 2019

1) What was your hypothesis ? 2) What factors did you need to test your hypothesis? What you needed to do instead is state a hypothesis and consider what is needed to test that hypothesis. Often segmentation is involved in testing the hypothesis. Often segmentation is involved in testing the hypothesis.

Interviews 45

Interviews Case Interview McKinsey Bain 45

Tom Spencer

AUGUST 17, 2019

and to be hypothesis and objective driven. What would your hypothesis really be? How would you actually go about proving/disproving this hypothesis and what information could you reasonably get? However, just as important is the following mindset shift: everything you do should be structured like a framework.

Case Interview 60

Case Interview Interviews Consulting Financial 60

Management Consulted

JUNE 7, 2015

4 – The use of an underlying hypothesis distinguishes good from great candidates. But if you really want to set yourself apart, define and utilize a hypothesis. If you state your hypothesis and use it throughout your case, only good can come of it. Answering the question is, of course, really important in the case interview.

Case Interview 100

Case Interview Interviews System Case Study 100

On the Brink Podcast

FEBRUARY 24, 2020

Our guest is Clarissa Silva, the founder of Your Happiness Hypothesis (H20) Method. Learn how you can really, really find your soul mate! This is a podcast that everyone should pay attention to.

Methodologies 62

Methodologies Engineering Strategy Strategy 62

Steve Shu Consulting

JULY 7, 2018

Our hypothesis is that the $5 per day treatment would yield the most success in terms of sign-ups for recurring savings. At the heart of the design is the notion of presenting essentially equivalent information but using temporal reframing to present the choice option differently.

Study 150

Study Construction Data Tools 150

Tom Spencer

MARCH 27, 2016

Projects typically follow a predictable cycle which involves five stages: pitching, hypothesis generation, research and analysis, reporting, and implementation. Hypothesis Generation. The consulting team will perform research and analysis to test its case hypothesis. Research and Analysis.

Consulting 60

Consulting Case Interview Analysis Research 60

CaseInterview.com

MAY 22, 2019

the hypothesis is: it's a good idea; what are the factors that would have supported this hypothesis?). Every decision like this can be structured into a hypothesis and a supporting issue tree. with a hypothesis, issue tree and strong opening statement to your analysis. What should we go out to eat for dinner?

Case Interview 40

Case Interview Interviews McKinsey Case Study 40

CaseInterview.com

JUNE 24, 2019

Answering the business question is probably most equivalent to creating a hypothesis and a custom issue tree to test your hypothesis -- as demonstrated numerous times in the Look Over My Shoulder ® Program. Instead, go through the 60 slides to figure out what is going on in the company.come up with a hypothesis.

Case Interview 45

Case Interview Bain Interviews McKinsey 45

CaseInterview.com

AUGUST 15, 2019

Hypothesis. And, as noted, this approach starts with the hypothesis. To test this hypothesis, I need to know how the components of the profits have changed since last year. Candidate: My conclusion is that my initial hypothesis is incorrect. My next hypothesis is… Note how the entire process repeats itself.

Case Interview 45

Case Interview Interviews Data Sales 45

Wakeman Consulting Group: Dave's Blog

MARCH 26, 2023

As I was listening to the replay of our conversation, it got me thinking about some bullet points for improving the marketing of arts/culture: Research is as simple as going to Google and inserting your hypothesis to see if someone has done any research on the topic.

Sports 49

Sports Research Marketing Culture 49

CaseInterview.com

OCTOBER 9, 2019

The first is around timing your hypothesis. My Reply: In this case, the interviewer/case coach was asking you for your hypothesis upfront. In the example cited above, you basically had a few minutes to provide your hypothesis and structure the problem in terms of what data you would need to test your hypothesis.

Case Interview 40

Case Interview Interviews McKinsey Data 40

Tom Spencer

JUNE 29, 2015

State a hypothesis. then it is helpful to state a hypothesis about the source of the problem. My hypothesis is that declining profits have been caused by falling revenue.” You can then walk the interviewer through your structure and start asking for data or diving into the details.

Case Interview 60

Case Interview Interviews Analysis Examples 60

Tom Spencer

FEBRUARY 29, 2020

The objective of the chart is to help you drive the case forward by approving or disapproving your hypothesis of the business problem. Not taking into account all the other data represented on the chart – often candidates become complacent when they see a hint of evidence that supports their hypothesis when other available data may not.

Case Interview 88

Case Interview Interviews How To Data 88

Harvard Business

NOVEMBER 18, 2020

Formulate a hypothesis and rigorously test your ideas.

Research 54

Research Marketing 54

CaseInterview.com

MAY 13, 2021

The purpose of the framework is to start off comprehensively, until you stumble upon (a really appropriate word) some piece of data that prompts to formulate a more specific hypothesis. and then to ask for data to test that hypothesis. The Profit = Revenue – Costs framework does not answer this question.

Case Interview 40

Case Interview Resources Interviews How To 40

Steve Shu Consulting

JULY 4, 2015

The Happiness Hypothesis (Haidt). The Smarter Screen (Benartzi and Lehrer). Thinking Smarter (Benartzi and Lewin). Risk Savvy (Gigerenzer). Stumbling on Happiness (Gilbert). The Why Axis (Gneezy and List). The Righteous Mind (Haidt). Decisive (Heath and Heath). Made to Stick (Heath and Heath). Thinking, Fast and Slow (Kahneman).

Insurance 150

Insurance Insurance Finance Policies 150

Comatch

AUGUST 29, 2022

This technique follows a “hypothesis-driven approach”: asking the 5 whys will leave you with one hypothesis of why the problem might occur, which needs to be verified (or falsified) later. This is the “hypothesis testing” part of your problem-solving exercise, where you will identify the most important levers to solve the problem.

Exercises 52

Exercises Case Interview Financial Groups 52