The Business Situation Framework: Should you use it?
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- Опубликовано: 1 окт 2024
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What's the best way to use Victor Cheng's Business Situation Framework?
In which case interview situations should you use it and in which situations you CANNOT use it?
Is this framework MECE?
These are some of the questions that came to me as I was preparing for case interviews.
After getting an offer at McKinsey and Bain and coaching hundreds of candidates to do the same, here are some of the things that I found:
3:34 You should only use this framework in Business Competitive Strategy cases.
Why? Because it is a framework derived from the 3Cs model, which is a model to describe a business competitive strategy situation.
That means the business situation framework won't work if the case is on a public sector case, or in a non-strategy business case or on a non-competitive strategy case.
5:50 You should HEAVILY adapt this framework for your own specific situation.
Using the "vanilla" framework as Victor Cheng teaches it just won't cut it. You'll do a structure similar to every candidate and miss key insights from the case.
7:57 Focus on making your framework MECE enough
A lot of people try to be 100% MECE, but you'll never be if you use a conceptual framework such as this one.
Instead, focus on making it MECE *enough*! That is, touching the KEY areas of importance to your client, not every single factor that might cause trouble to them.
10:01 Think of this framework as TRAINING WHEELS
The Business Situation framework is NOT the end-all-be-all framework to use in case interviews.
It will NOT help you differentiate yourself from other candidates.
Instead, it is a framework that helps you GET STARTED. Just like training wheels for riding bicycles.
Use them at first, to get started. But eventually, make an effort to outgrow them!
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Here's the book I mentioned in the video (The Mind of the Strategist): www.amazon.com... [Not an affiliate link]
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Bruno
I have been meaning to make a transition from equity research to consulting, but before trying to land any interviews I am spending a lot of time in preparation. I discovered your website last week and subsequently this channel. They are so helpful. You guys are doing a wonderful job. I love how elaborate each of these videos & lessons are. Thanks.
I really hope to land a role....cheers!
The dislike must come from V.C.)
Hahaha, love it!
I do hope he's not spending time being a RUclips hater, though. He seems like a pretty nice guy.
@@CraftingCases he certainly is!
The CCCP is always the best. All hail mother russia!
If you want to learn more about how to create frameworks from scratch, you should watch the Frameworks module in our free course and learn the Landscape Technique -- www.craftingcases.com/freecourse
Thank you so much for the quality content you have provided in the free 1 week course. With the tips and tricks you shared in the course helped me get a job offer at Strategy& as an associate. The course helped me develop the business acumen and methodology to think as a consultant which made me stand out from other candidates who were regurgitating frameworks.
I have recommended your course to all my friends and juniors in college.
Keep up the good work. You are truly making a difference!
Thanks Bruno for your videos. They are very helpful.
I wonder if you can make another video with the consequences of not ben MECE, or typical errors in an interview with a customer.
Great content!. Hope there are coming new videos soon. Would be interested in quantitative questions!
Best regards
Hey Economics! Super glad you liked it! We're focusing on written content for now, so make sure you check our our blog!
I feel that problem structuring is the toughest part of the case. Thanks for this, looking forward to similar content. Subscribed
Glad you liked rondovk! I think you'd love our free course if you want to improve your structuring.
@@CraftingCases yes I will check it out and will definitely check out the MECE 5 video playlist. Thanks!
Oh lord, I have my two case interviews tomorrow and I thought I was going to get away with using like 9 pre planned structures. Now im scared haha
Quick action you can take: join our free course (www.craftingcases.com/freecourse) and watch the Brainstorming and Framework modules. You can do this in a day and it will up your game. Also recommend the video on the 5 ways to be MECE (which will help you Brainstorm and dig deeper in your structure while keeping MECE).
Hey Bruno, am I allowed to ask for feedback and things to improve at the end of my interview? Vocês são fodas, abraço!
Hey Rafael, you're allowed, but your interviewer will most likely not give you any (and if they do, it's not gonna be really meaningful). They will give you feedback after each round, though.
Great content! Absolutely meaningful to me
And i love your voice, really clear and easy to follow!
Hey Ngọc, I'm glad it was helpful (and intelligible)!
what happened guys? why there are no more video updates? 🥺🥺
Hey Zishu, we're focusing on text-based content right now. Check out our blog and free course for more stuff!
really helpful video, thank you
Glad to know you liked it, Tommy!
Really appreciate your advice
Glad you liked it, Yan
Superb work man!
Thanks, Yuthpath!
Crafting Cases please post on a case on digital transformation strategy of a company like an asset management company trying to attract new customers with a digital platform
Hey Alam!
We can do it, but it’s pretty specific, it would take a while. Is there anything in particular that makes you ask us tondo that? I may be able to help out before we have the time to make such a video.
@@CraftingCasesThank you for the reply. yes I have a case about a mutual fund in Indonesia actually that is trying to leverage digital platform to attract more younger investors and millennials to it's services. Currently the firm has a subscription model. I am having hard time structuring the case and so I asked to upload a case here about digital transformation of firms
The content is very useful and amazing, but the voice is driving me crazy
Hey Zauber, can you be more specific? I'm afraid this is the only voice I have, but I may be able to change the way I speak or record if you can be more specific on what drove you crazy!