Case-Based Prep for Consulting Roles #2
Introduction to Framework Number 1: Multiple Stakeholders and concerns. P.S: The case discussed was asked to me in a Round 2 Interview.
18/01/23
In this article, we will explore our first framework, i.e. “Multiple Stakeholders and concerns” framework. I personally love this framework as it helps me whenever I get stuck while making an issue tree for the case. This technique works very well because all the stakeholders are mutually exclusive and their concerns are collectively exhaustive. I hope that you derive value from the framework as well.
The given image is an example of the same:
Example Case: Our client is involved in the extractive business of oil and gas. They have a field on a remote island in Indonesia and are pressurized by CSR commitments because of Environment and Social Standards. We have been asked by our client to build a strategy to convert that island into a tourist attraction. The core philosophy of our client is to employ people in these regions. What things would you focus on to develop this island into a tourist attraction?
Solution:
There are 4 major stakeholders here:
Investors
Government of Indonesia and the island
Tourists
Local community
Investors:
Investors might be Infra-Based Companies, Operation-Based Companies, VC/PE funds, etc.
The concerns of an Investor are as follows:
Possibility of future growth
Geo-political stability
Subsidiaries
Tax Help
Government:
Policy drafting would be the most important task for the government of Indonesia and the local government as well.
The concerns would be:
Community Protection
Employment of locals
Trade
Investment policy
Visa
Tourists:
Tourists would stay for at least 3-4 days and would expect a unique itinerary. We can divide this into 3 more sub-buckets, namely onboarding, stay, and off-boarding.
The concerns of tourists would be:
Onboarding: Flight Schedule, Visa, Mobile Connectivity, Currency
Stay: Infrastructure to stay, travel, eat; Safety; Entertainment
Offboarding: Flight Schedule.
Local Community:
Considering that employment in the local community is the client’s core philosophy, we would have to make sure that locals are capable and skilled for the same.
The concerns of locals would be:
Employment: We would lobby the government to make a rule to employ at least 30% of the workforce from locals.
Skills: We could sponsor local children to upskill themselves with college degrees.
Sustainability: We could make sure that the island is self-sustained and that the food security of locals is not hampered.
Tip of the day:
Taking more time to come up with a great structure is far better than blabbering a poorly thought structure.
Recommendation of the day:
This is Mock Consulting Interview posted by Bain & Company:
Closing Thoughts:
Thanks a lot for giving this article a read. Do reach out to me in case you have any doubts or need any help.
Would love to hear your thoughts on the framework!!