#case interview preparation

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What the heck does a guide DO, specifically? - Management Consulting 101

Before I’ll show you the Minto Principle, I’ll look into the expression MECE (pronunciation: me see) along with you, as it’s a crucial term in the Minto Principle, case interviews and consulting in general. MECE stands for ‘Mutually Exclusive, Collectively Exhaustive’ and is the consulting way of representing complex information in an clear-cut way. Let’scheck out both constituent parts separately.

Mutually Exclusive

If you are categorizing info, the MECE-principle dictates that the groups must be mutually exclusive. This means that it must not be possible for a member of group A to be a member of class B. To make it less abstract, an illustration of categorization that is far from mutually exclusive:

- Grouping of men and women according to his or her colour of clothing worn, as men and women can wear garments with diverse colours, and the rest can put on these kinds of colours as well.

- Grouping of people in accordance to their particular pastimes, since men and women can have multiple pastimes and a pair of individuals can do the same pastime.

- Grouping companies according to their goods, as they can sell numerous products at the same period.

You get the picture, I think. So mutually exclusive categories are, for example: age, sexual category, nationality (often, at least). We all got the ME- part, how about the other 2 letters?

Collectively Exhaustive

In addition to being mutually exclusive, the classes you select should also be collectively exhaustive: all options/all information must be incorporated in the classes you select. This way you can be sure that there’s absolutely nothing you missed in your investigation. For instance, the decision of a company to acquire a rival could be based on both financial and non-financial elements. These factors should then be broken down into new elements that also are also (ME)CE. An additional example is the profitability framework: it’s collectively exhaustive, as profit can be broken down into revenues and costs. No other factors have an impact on profit.

In addition, the profitability framework is also mutually exclusive, as revenues can in no way be costs and vice versa. These factors can also be broken down into new MECE-elements. Revenues can be broken down into numbers of product sales and the price: the revenue per sale.

Training

During your case interviews, you must make an effort to be as MECE as you can while structuring the case. Don’t get bogged down while striving for perfection though, as you’ll only have limited time. But how to make sure you get it right the very first time? As with the majority of things: practice makes perfect. Use the pyramid principle and MECE-thinking in real life: when deciding on a vacation location, while selecting between evening meal possibilities or when picking a new car.

You don't must go through the complete framework every time, as well as calculate every thing. Just create the initial structure and try to polish it once or twice in your mind. You can also sit down and write all of it down: a far better way to exercise as you can see your refinements. Since you train this during case interview training also, you might also utilize ‘standard’ case interview preparation.

Before I’ll clarify the Minto Principle, I’ll look into the expression MECE (pronunciation: me see) together with you, since it’s an essential phrase in the Minto Principle, case interviews and consulting in general. MECE is short for ‘Mutually Exclusive, Collectively Exhaustive’ and is the consulting way of representing complex details in an simple method. Let’s look at both of these parts on their own.

Mutually Exclusive

If you are categorizing information, the MECE-principle dictates that the types need to be mutually exclusive. It means that it must certainly not be possible for a member of group A to be a representative of group B. To make it less abstract, an example of classification that is not mutually exclusive:

- Grouping of individuals in accordance to their particular color of outfits worn, as men and women can wear clothing with diverse colors, and the rest can wear these colors as well.

- Grouping of individuals in accordance to their particular hobbies, since individuals can have multiple pastimes and several individuals can do the same hobby.

- Grouping businesses according to their goods, as they can sell numerous products at the same time.

You get the picture, I suppose. So mutually exclusive categories are, for example: age, sex, nationality (often, at least). We all got the ME- element, how about the additional 2 letters?

Collectively Exhaustive

In addition to being mutually exclusive, the classes you pick need to also be collectively exhaustive: all options/all information ought to be included in the classes you select. This way you can be positive that there’s absolutely nothing you have missed in your analysis. For example, the choice of a company to purchase a competitor may be based on both financial and non-financial factors. These factors should then be broken down into new aspects that also are also (ME)CE. Yet another example is the profitability framework: it’s collectively exhaustive, as profit can be broken down into revenues and costs. No other factors influence profit.

Moreover, the profitability framework is also mutually exclusive, as revenues can in no way be costs and the opposite way round. These factors can also be broken down into new MECE-factors. Revenues can be broken down into numbers of sales and the price: the revenue per sale.

Training

In the course of your case interviews, you should make an effort to be as MECE as possible while structuring the case. Don’t get bogged down while aiming for flawlessness however, as you’ll only have minimal time. But how to make sure you get it spot on the first time? As with nearly all things: practice makes perfect. Implement the pyramid principle and MECE-thinking in every day life: when selecting a vacation location, while picking between dinner possibilities or when choosing a new vehicle.

You do not need to go through the entire structure each and every time, nor calculate everything. Only build the initial framework and try to refine it once or twice in your head. You can also sit down and write all of it down: a much better way to practice as you can see the refinements. Since you train this during case interview practice also, you could also use ‘standard’ case interview training.