Based off the initial conversations with the client, the firm agrees to take on the case, allocates a 12-week timeline and agrees on deliverable and a loose framework for the type of analysis and research the firm will do over the course of the case. Let's say a large consumer electronics firm hires McKinsey to help them evaluate whether they should enter the online advertising space via their footprint in digital devices. Example: A McKinsey consulting engagement This is the same thing you'll do in a case interview, except that, for example, instead of analyzing the profitability of a high end furniture company, we'll be looking at the unit economics of a consulting firm. Just as in a case interview, you might find yourself analyzing the profitability of a company's product, let's pull apart the revenue and cost structure of a consulting case engagement so we can understand it at a deeper level. To help bring the above description to life, let's look at a specific, hypothetical case example and examine what the unit economics of the consulting business look like. See Also Plumber Fawn Creek KS - Local Plumbing and Emergency Plumbing Services in Fawn Creek Kansas 6 Biggest Problems Facing Businesses Today | The Kickass Entrepreneur 11 Revenue Models, Examples & Tips To Pick The Right One What is terp sauce and how is it made? - CannaConnection Unit economics of a consulting engagement The delivery of this output is primarily a presentation, or in many cases a series of presentations (e.g., kickoff meeting, weekly check-ins, mid-project check in, final presentation, etc). How do clients receive recommendations?Īlmost invariably, the output is a series of data driven recommendations centering around the problem at hand. For now, just keep in mind that this structure drives a lot of what interviewers look for in the recruiting process. We'll return to this in the case interviews and fit sections of this guide. Thus, it follows that for the client to be happy with the result, the advice must be top notch and be delivered convincingly in a polished manner. It's important to note that except in extremely rare cases (e.g., design firms presenting a prototype of a physical product like an IDEO or Frog might do), clients are truly paying for advice and/or guidance. Strategic advice, and in the case of implementation work, hands on guidance and step-by-step help on executing it. What does a $1M McKinsey consulting engagement buy?
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