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If a hen and a half lay and egg and a half in a day and a half, how long does it take one hen to lay one egg?
Make 10. Spend 2. Save 8. What is his profit?
Um...download a consulting casebook and choose profitability cases. Done.
Here’s something: walk me through your problem identification process: say you go on one of our pharma clients that have gone through a couple of acquisitions leading to multiple and disunified IT systems. Their problem statement is low profitability. You wanna look for them to say costs include fixed and variable and they will look into each and find the painpoint cost or determine where the problem is OR check the revenue side and see if the problem is sales or marketing related. They would also look to find synergies in their IT landscape to determine cost savings that can occur with a unified system. whoever answers this, ask them to start next Monday.
Op, ask them why you should hire them? Ask them how would they approach a profitability issue? Ask them to give own or two examples where they have assumed leadership. Ask them about a time they failed.
The answer itself is not as important as the structure, are they clearly thinking, are they able to layout a good answer that you can follow or are they firing off the cuff? If the latter, then pass.
Go for a simple "what are some key drivers of margin improvements." Should be able to gauge if potential intern understands their way around a P&L.
Not looking for a case question
Thanks everyone!