Summary: Week 3 Strategy Consulting Mcm

Read the summary and the most important questions on Week 3 Strategy Consulting MCM

• 2 Structured Solution Development

• When thinking about possible solutions that could be developed for the client, what 2 points are very important for the consultants to take into consideration?

  Consultants should identify the decision areas that are likely to be relevant for the client in addressing the Result Gap and based on these areas the alternative decision outcomes.

• What does structured solution development mostly tap into in the Structured Solution Development Process?

  1. Develop possible solutions
  2. Structure possible solutions
  3. Select solution hypothesis

• 2.1 Possible Solutions

• What is dangerous when looking for possible solutions?

  The risk of 'boiling the ocean' which means that you make it unnecessarily difficult, this happens when consultants analyse all possible decision outcomes.

• Instead of looking at all the possible solutions and thus risking of 'boiling the ocean' what question can consultants better ask themselves?

  Which of the possible solutions is most likely to fulfil the problem statement (i.e. Close the results gap)?

• 2.1.1 Develop Possible Solutions

• What are the three ways in which consultants can develop possible solutions?

  1. Based on experience
     
  2. Using public domain knowledge 
  3. Exploring new knowledge 

• In terms of MECE, what is its relation to the possible solutions that can be developed?

  The possible solutions should be ME (no overlap in possible solutions), but not CE (most relevant but not all theoretically possible solutions)!

• In terms of the solutions that will be presented to clients, what are the two important factors to take into consideration?

  1. The solutions must be embedded on facts 
     
  2. Also think outside the box, be creative and innovative

• What must a consultant do if they do not get a complete customer during the briefing from their client?

  Use their imagination and base themselves on what is going on in the market.

• 2.1.2 Structure Solutions and Selecting a Hypothesis

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• How do consultants select a possible solution from the solution structure to use as their initial hypothesis?

  The consultants may use the problem statement as a guide.

• Once you have several possible solutions that seem promising, the most promising one will be chosen to be the initial hypothesis, what is the hypothesis in this sense?

  Possible answer to the key question.