Using critical thinking to crack case based interviews

Critical Thinking and Problem Solving

Priti Agarwal

Learning Outcomes

By the end of this presentation, you will:

Better understand what critical thinking is

Know why critical thinking is important

Use critical thinking techniques in cracking interviews

“ (Thinking) . . . which exemplifies the perfections of thinking. . .”

T H I N

K I N G

“Disciplined, self-directed thinking . . . ”

In “everyday” language:

• Thinking “outside” the box

• Thinking about thinking

• “Unlimited” thinking

• Divergent thinking

T H I N K I N

G

TIME PERMITTING, WORK THROUGH ACTIVITIES IN YOUR BOOKLET.

BE SURE TO THINK CRITICALLY!

Why is Critical Thinking Important?

A well cultivated critical thinker:• raises vital questions and problems,• formulating them clearly and precisely; • gathers and assesses relevant information, to

interpret it effectively • comes to well-reasoned conclusions and solutions, testing

them against relevant criteria and standards; • thinks openmindedly within alternative systems of thought,• communicates effectively with others in figuring out solutions

to complex problems.

Cultivated critical thinkers . . .

Goal: to become cultivated critical thinkers

Raises vital questions and problems, formulating them clearly and precisely;

Raise vital questionsFormulate questions and problems clearly, precisely

By : --raising vital questions --formulating questions clearly and precisely

Gathers and assesses relevant information, using abstract ideas to interpret it effectively,

• Gather information

• Analyze and assess it

• Evaluate it

By: --gathering information, then --assessing it and determining what it means and what it is worth

Draw conclusionsFind solutionsUse relevant criteria to test them

By: --drawing conclusions from the information presented --finding possible, plausible solutions and testing them with relevant criteria

Keep an open mind

By --maintaining an open mind

Communicates effectively with others in figuring out solutions to complex problems.

Network w/others;keep lines of communication open

By networking with others and maintaining open lines of communication with them and others.

Dare to think outside the box!

To become a cultivated critical thinker:

• Develop a sense of observation and curiosity• Become interested in finding new solutions• Share ideas• Ask pertinent questions• Assess statements and arguments• Seek understanding and information

Also . . .

• Examine beliefs, assumptions, and opinions; weigh them against truth

• Listen to others, think about what they say,

give feedback

• Become an open-minded listener and reader

ActivityWhat is half of eight?

8

What is the answer ?

Is it

4

Any other answer ?Or is it 2 zeroes

00

And another ?

THAT IS FOR YOU TO DECIDE

33

Activity

Without lifting your pencil from the paper, draw exactly four straight, connected lines that will go through all nine dots, but through each dot only once.

Problem

I have two 10 litre bottles full of wine and 2 other empty bottles of 5 and 4 litres. I want to fill 3 litres in each empty bottles without the help of any additional object and without pouring out or wasting a single drop of wine.

Solution 10 10 00 00

10 05 05 0010 05 01 0410 09 01 0010 09 00 0110 04 05 0110 04 02 0410 08 02 0010 08 00 0205 08 05 0205 08 03 0409 08 03 0009 08 00 0304 08 05 0304 10 03 03 ---- filled

The image shows a huge Bengal Tiger standing in a bamboo forest. Your mission is to look for "The Hidden Tiger" in the image below.

Who SHOULD think critically?

< Video on baby using problem solving techniques>

Problem Solving- Case Study Based Interviews

Credential Verification

Experience verification

Opinion questions

Dumb questions

Maths Questions

Case Questions

Behavioral Questions

Competency Questions

Types of Interview Questions

10% predictive validity

15% predictive validity25% predictive validity

55% predictive validity

Credential verification

questions - Its purpose is to

place objective measurements on features of

your background.

Sample Questions What is your CGPA? How

does it compare with the rest of your batchmates?

How long were you working at…?

What is your total experience in supply chain management?


Experience verification

questions - Its purpose is to subjectively

evaluate features of

your background.

Sample Questions What did you learn in this

course? What were your

responsibilities in that position?

Point out three key learnings from your Summer Internship Project


Opinion questions -

Their purpose is to subjectively analyze how you would

respond in a series of

scenarios.

Sample Questions What would you do in this

situation? What are your strengths

and weaknesses? If you were the prime

minister of India, what are the three key changes you would bring about?


Dumb questions - Their purpose is to

get past your pre-programmed answers to find out if you are capable of an original thought. There is not necessarily a right or wrong answer, since it is used primarily to

test your ability to think on your feet.

Sample Questions What kind of animal would

you like to be? What color best describes

you? If you were a famous

personality, who would you be like?


Math questionsIts purpose is to evaluate not only your mental math calculation skills, but also your creative ability in formulating the mathematical formula for providing an answer (or estimate, as can often be the case).

Sample Questions "What is 1000 divided by

73?“ "How many ping pong

balls could fit in a Volkswagen?“

How many litres of milk are consumed in Delhi everyday?

How many petrol pumps are there in Chandigarh?


Case questionsIts purpose is to evaluate your problem-solving abilities and how you would analyze and work through potential case situations.

Sample Questions "What is your estimate of

the global online retail market for books?“

What is the future of the luxury car market in India?

How do you think the 2 wheeler market will be affected with the launch of the Tata Nano?


Behavioral questionsIts purpose is to anticipate future behaviors based upon past behaviors.

Sample Questions Can you give me a specific

example of how you did that?

What were the steps you followed to accomplish that task?

Can you give me an example where you organised an event? How did you go about it?


Competency questionsIts purpose is to align your past behaviors with specific competencies which are required for the position.

Sample Questions "Can you give me a specific

example of your leadership skills?“

"Explain a way in which you sought a creative solution to a problem.“

Give me an example where you helped resolve a conflict between team members.


Agenda

•What is the format and structure of a case interview?

•Which skills are case interviews trying to test?

•What are some common myths about case interviews?

•How do I crack a case interview?

OBJECTIVES Introduce the consulting case interview

format Objectives Typical structure Evaluation

Mock case simulation and discussion Framing Analysis Conclusions

Case interview preparation tips

Case interviews require interviewees to solve business problems on‐the‐spot “The most accurate predictor of future

performance is the ability to solve on the‐job problems in real‐time”

Focused on problem solving abilities: The interviewee must work with the

interviewer to solve business problems Q&A format: Interviewer moves on to

successive questions with relatively little discussion thereafter

WHAT DO COMPANIES LOOK FOR? Not “The Answer”

Creativity

Apply a unique perspective to business situations

See the big picture

Draw conclusions from partial information• Make assumptions,

see patterns, and generate hypotheses

Poise

Appear excited by the kinds of issues consultants face

Are not intimidated by process or problems

Assimilate information quickly and effectively

Ask insightful questions

Analytics

Provide structure to unstructured problems

Break problems into components

Apply transparent, logical thinking to each component

Synthesize discussion into solution

• Ability to identify key issues which he/she needs to deal with in order to solve the problem

• Ability to assess the issues, prioritize them and form a coherent plan of attack

• Ability to dig deep enough to find the detailed information which leads to a meaningful answer

• Ability to use information given and manipulate it accurately into a logical conclusion

- identify the key displays or data dimensions needed to reach a solution

- derive relationships among different dimensions of data

• Ability to predict relationships and outcomes based on sound reasoning

- clear logic to conclusion- delineation of alternatives

HOW DO I ATTACK A CASE?Creating a Logical Structure is Key to Success

Framing/organizing

Prioritizing issues

Identifying relevant information

Drawing conclusions from facts

Identifying key implications and next steps

Communication skills tested throughout interviewCommunication skills tested throughout interview

Framing

Analysis

Conclusion

INTRODUCTION TO THE CASE

Our client owns and operates an independent “mom and pop” gas station Sells gas for 50 per litre Operates at break-even profitability

Exxon opened a gas station across the street twelve months ago Sells gas for 85 per litre Seem to be “blowing and going” based on traffic

What would you advise our client to do?

WHAT IS A FRAMEWORK?

Models, tools or maps that provide a systematic, logical way of analyzing a problem

Show cause and effect relationships to focus on Distil a complex, ambiguous problem to the relevant issues

Guides intelligent questioning of the interviewer Lays out your analysis in a logical, coherent manner—

paints a picture of how you think Allows you to apply your experience to an unfamiliar

situation SWOT analyses Familiar frameworks—5 forces, 7 Cs, 7 Ss, 4 Ps Matrices—2x2, more sophisticated multi-dimensional Value chain analysis Comparative economics Product/technology life cycle Decision trees

Description

Benefits

Examples

Key is application of, not simplystating, a framework

Key is application of, not simplystating, a framework

FRAMING

Do’s

Use one to structure your answer

Explain insights derived using framework

Creativity is key

Get buy-in from interviewer

Use analogies if possible

Practice, practice, practice

Don’ts

Force fit a framework

Overuse buzzwords (e.g., Porter’s 5 forces)

Try to apply a framework that you do not know well

Ignore direction from interviewer

ANALYSISDo’s

Scratch your analysis on paper—even stream of consciousness thoughts

Use facts provided to develop support for your conclusions

Ask for more data, clarifying information

Keep your framework in mind (tie back)

Do math on paper

Use round numbers

Start over if needed

“Think out loud”

Don’ts

Overly worry about basic math mistakes—yet, don’t make too many of them

Worry about decimal-point precision

Lose sight of the issue (get lost in the details)

Lose contact with your interviewer

Ignore when analytics disprove original hypotheses

Keep your thought processes to yourself

CONCLUDING THE CASE

Do’s

Summarize your analysis

Provide a clear recommendation or hypothesis derived from your analysis

Highlight any additional information you would need to know

Identify any implications of your recommendations (e.g., competitor response, client reaction)

Don’ts

Forget to conclude the case—regardless of progress made or time constraints

Waffle or be indecisive—have a point of view and confidently support it

Ask for feedback

Forget the original question

PRACTICAL TIPS FOR SUCCESS

Bring a pen/pencil and a pad of paper

Feel free to pause, particularly at the beginning

Don’t panic—ask questions to clarify facts, learn more information

Structure your analysis before you begin

Think out loud

Be clear about your assumptions

Silence can be golden

Do what makes you comfortable—approach with your personal style, not what you think is expected

Most importantly, have fun!Most importantly, have fun!

Activity- Problem Solving for following cases How many pencils are sold annually in the India?

How many dogs are there in Delhi?

What are the chances of rolling double sixes three times in a row?

A pharmaceutical company is trying to decide whether to manufacture its drugs in-house or outsource; how would you help?

The company that owns “Fruity” drink has seen a decline in revenues over the past five years; what should it think about?

Thank You!!

Using critical thinking to crack case based interviews

Business

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