consulting business

Problem Structuring and case interviewing

By Linda McKinney 26 July, 2023 2 mins read

A case interview is one way to analyze business problems. This method is also known as problem structuring. This process uses two tools: Business frameworks, and issue trees. These tools are used in many industries, from finance to technology. The goal is to find a common thread among all stakeholders and find an optimal solution.

Case interviews

A case interview is a simulation of what it will be like to interact with a real client. It involves questions about what the client needs and how the consultant can help them. This allows the consultant to develop hypotheses and explore various options. The consultant should ask the client questions to clarify the problem.

Problem structuring

A fundamental skill of problem-solving is problem structuring. This helps you to break down complex problems into smaller, but more important, issues. You can use this principle in your current job or studies or your personal life.

Issue trees

You can use issue trees to help you visualize all the factors that have an effect on a particular situation. They can also be used for logical arguments that are based around a hypothesis. Each tree should have at most three branches. All possible factors should be covered by the issue trees. They should be able to identify the root causes and resolve any problems.

Business frameworks

Business frameworks play an important role in strategic planning and operation. They are the foundation for understanding processes, formulating decisions and communicating results. A solid framework can provide a clear road map to success for any organisation. It should be adaptable and scalable to all types of businesses.

Analytical skills required

Analytical skills are crucial for many roles. Having them will make your candidate stand out. These skills include the ability to use data to identify patterns and draw meaningful conclusions. These skills are used to solve problems, make business decisions, and provide recommendations.

FAQ

Who hires consultants

Many organizations employ consultants to assist in projects. These consultants can be found in small and large businesses as well as government agencies, universities, educational institutions, non-profits, and education institutions.

While some consultants work for these companies, others are freelancers. The hiring process will vary depending on the complexity and size of the project.

When hiring consultants, you will probably go through several rounds of interviews before choosing the person you think would be best suited for the position.

What types of contracts exist for consultants?

Standard employment agreements are signed by most consultants when they are hired. These agreements define the terms of the agreement, including how long the consultant is expected to work for the client as well as what he/she should be paid.

Contracts also specify which areas of expertise the consultant will focus on and how the consultant will be compensated. For example, the agreement may say that the consultant will provide training sessions, workshops, webinars, seminars, etc.

Other times, the consultant simply agrees to complete specific tasks within a specified timeframe.

Consultants often sign independent contractor contracts in addition to their standard employment agreements. These agreements allow the consultant to work independently but still receive payment for his/her efforts.

How do you choose a consultant to help me?

Three main factors should be considered:

Experience - How many years of experience is this consultant? Is she an expert, beginner, intermediate or advanced consultant? Does her resume demonstrate that she has the required skills and knowledge
Education – What did the person learn in school? Did he/she continue to take relevant courses after graduation? Were there any evidences of this learning in his/her writing?
Personality - Are we attracted to this person? Would we want him/her to work for us?
The answers to these questions help determine if the consultant is right for our needs. If there are no clear answers, then it might be worth an initial interview to learn more about the candidate.

Do I really need legal advice?

Yes! Yes! Many consultants create contracts without consulting clients. This can lead into problems down-the-road. If the client terminates an agreement with the consultant before the completion date, what are the consequences? Or, what happens if the consultant doesn't meet the deadlines set forth in the contract?

To avoid any problems, it's best that you consult a lawyer.

What jobs are available as consultants?

Consultant work requires a deep understanding of business strategy, operations, and other aspects. Understanding how businesses work and their place in society is also essential.

You must have excellent communication skills as well as the ability to think critically in order to be a consultant.

Because they might be required to complete different tasks at different times, consultants must be flexible. Consultants should be able to quickly change their direction if necessary.

They must be willing to travel for their clients. They may be required to travel all over the globe for this type of work.

They also need to be capable of handling stress and pressure. Consultants may sometimes be required to meet tight deadlines.

As a consultant you might work long hours. You might not always be paid overtime.

What qualifications do you require to become a Consultant?

You don't just need to have a MBA, you also need to demonstrate your ability as a business consultant. Two years experience should be gained in consulting or training for a major corporation.

Your experience in strategy development projects requires that you work closely with senior managers. This means you'd have to be comfortable presenting ideas to clients and getting buy-in.

You'll also need to pass a professional qualification exam such as the Chartered Management Institute's Certified Management Consultant (CMC) certification.

Statistics

Over 62% of consultants were dissatisfied with their former jobs before starting their consulting business. (consultingsuccess.com)
On average, your program increases the sales team's performance by 33%. (consultingsuccess.com)
According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
Over 50% of consultants get their first consulting client through a referral from their network. (consultingsuccess.com)
So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)