Strategy Consulting – EXAM SUMMARY
WEEK 1
Lecture 1 – Structured problem diagnosis 1
• Chapter 1 – Bulletproof problem solving
• Chapter 4 – Workplan & Team processes
• Article 1.1 – Ainsworth (2016). Student let project teams
WEEK 2
Lecture 2 – Structured problem diagnosis 2
• Chapter 2 – Define the problem
• Article 2.1 – Collis & Rukstad (2008). Can you sway what your strategy is?
• Article 2.2 – Porter (2008). The five competitive forces that shape strategy
• Article 2.3 – Gunn & Williams (2007).
WEEK 3
Lecture 3 – Problem disaggregation & prioritization
• Chapter 3 – Problem disaggregation & prioritization
• Article 3.1 – Gottfredson, Schaubert & Saenz (2008). Diagnosing the business
• Article 3.2 – Kaplan & Norton (2008). Mastering the management system
• Article 3.3 – Grant (1991). The resource based theory of competitive advantage: implications for
strategy formulation
WEEK 4
Lecture 4 – Structured solution development & communication
• Chapter 5 – Conduct analyses
• Chapter 6 – Big guns of analysis
• Chapter 7 – Synthesize results and tell a great story
• Article 4.1 – Williams (1997). How to write a memo or report
• Article 4.2 – Higgens (2005). The eight S of a successful strategy execution
• Article 4.3 – Collis (2021). Why do so many strategies fail?
WEEK 5
Lecture 5 – Managing the consultancy firm
• Article 5.1 – Suddaby & Greenwood (2001). Colonizing knowledge: commodification as a dynamic
of jurisdictional expansion in professional service firms.
• Article 5.2 – Maister (1982). Balancing the professional service firm
• Article 5.3 – Anand et al. (2007). Knowledge-based innovation: emergence and ambedding of
new practice areas in management consulting firms
WEEK 6
• Speaker’s corner
• Exam preparation slides
, WEEK 1
Chapter 1 – Bulletproof problem solving
A) Introduction
Problem solving = decision making when there is complexity and uncertainty that rules out obvious
answers. There are consequences that make the work to get good answers worth it.
Pitfalls & common mistakes in problem solving
• Weak problem statements
• Asserting the answer = seen this before
• Failure to disaggregate the problem = break problem down
• Neglecting team structure and norms = diversity & divergent views, collaborate & compete
• Incomplete analytical toolset
• Fail to link conclusions with storyline for action
• Treat problem solving process as one-off rather than iterative one = problems not solved once
and for all
B) Bulletproof problem solving cycle
1. Define the problem = arrive at a problem
definition that is agreed by all people making
the decision. Problem must be:
a. Specific not general
b. Clearly measure success
c. Bounded in timeframe
d. Bounded in values of decision maker
e. Involve definitive action being taken
2. Disaggregate the issues = break down into
different parts & components → logic trees.
Cleaving problems = revealing their fault lines.
Try different breakdowns to see which yields
the most insights, and use theoretical frameworks.
3. Prioritize the issues, prune the tree = focus on branches with biggest impact (size) and which can
be most affected (ability to move). Matrix of size impact for each lever.
4. Build a workplan & timetable = assign team members to analytic tasks with specific outputs &
completion dates. Set norms and generate a diversity of views.
5. Conduct critical analyses = start with simple estimates & heuristics, then implement more
complex tools.
6. Synthesize findings from the analysis = test validity and synthesize findings
7. Prepare a powerful communication = prepare a powerful storyline from the conclusions.
C) Disaggregate the issue – Issue trees
Issue trees = clear visual representation of the problem, which are holistic and lead to clear
hypothesis.
• Mathematically complete deductive logic trees for business problems
,• Weighted factor analysis for decision making
• Decision trees for walking through complex choices
D) Case – does Sydney ariport have adequate
capacity?
• Step 1 = define the problem, will aiport
capacity be adequate?
• Step 2 = disaggregate the issue, look at supply
and demand
• Step 3 = what is fixed, what is not? E.g.
runway utilization & Sydney market share.
• Step 4 & 5 = how can we increase utilization
(operation hours, planes per hour, people per
plane) and how to decrease demand, increase
price. ➔ What are effects of this?
Chapter 4 – Workplan & Team processes
A) Best practice approaches to workplanning
Build a workplan & timetable = assign team
members to analytic tasks with specific outputs and
completion dates. Include norms around generating
a diversity of views (avoid bias).
Best practices
1. Don’t do any analyses that aren’t guided by
very clear and testable hypotheses = look into X
or Y
2. Work backward from clearly visualized and
dummied ouputs = analysis is drive by specific contribution to the problem
3. Be careful about analysis order = knock-out analyses first, provide focus on critical path in
problem solving.
4. Be specific about who is doing what by when = no confusion about responsibilities/deadlines
5. Workplans only go 2-3 weeks + long-term study plans = early analysis changes the plan
B) Model workplan
Model work plan = chunky, short and specific. Split by definition/action. Definition = what situation
prevailed before? E.g. performance deterioration. Action = what caused the decline? Should include:
• Issue = e.g. why are fewer students enrolling in nursing school
• Hypothesis = e.g. demand for nursing is high, program capacity is low
• Analysis = e.g. assess #qualified students applying
• Source
• Responsibility + timing
• End product = e.g. charts of nursing places, applications, acceptance rates
, C) One day answers
One day answers = stating what you know about a problem at a certain point in the process. Clarify
where you are and what work is left to do, provide a strawman (brainstormed simple draft proposal
to generate discussion) for pressure-testing your work → sharps hypothesis, sends resources to
biggest gap.
1. Short description of the situation =
State of affairs, the problem.
2. Set of observations/complications =
What creates tension? What was
changed/went wrong?
3. Best idea for resolution of problem =
What should we do?
WEEK 1
Lecture 1 – Structured problem diagnosis 1
• Chapter 1 – Bulletproof problem solving
• Chapter 4 – Workplan & Team processes
• Article 1.1 – Ainsworth (2016). Student let project teams
WEEK 2
Lecture 2 – Structured problem diagnosis 2
• Chapter 2 – Define the problem
• Article 2.1 – Collis & Rukstad (2008). Can you sway what your strategy is?
• Article 2.2 – Porter (2008). The five competitive forces that shape strategy
• Article 2.3 – Gunn & Williams (2007).
WEEK 3
Lecture 3 – Problem disaggregation & prioritization
• Chapter 3 – Problem disaggregation & prioritization
• Article 3.1 – Gottfredson, Schaubert & Saenz (2008). Diagnosing the business
• Article 3.2 – Kaplan & Norton (2008). Mastering the management system
• Article 3.3 – Grant (1991). The resource based theory of competitive advantage: implications for
strategy formulation
WEEK 4
Lecture 4 – Structured solution development & communication
• Chapter 5 – Conduct analyses
• Chapter 6 – Big guns of analysis
• Chapter 7 – Synthesize results and tell a great story
• Article 4.1 – Williams (1997). How to write a memo or report
• Article 4.2 – Higgens (2005). The eight S of a successful strategy execution
• Article 4.3 – Collis (2021). Why do so many strategies fail?
WEEK 5
Lecture 5 – Managing the consultancy firm
• Article 5.1 – Suddaby & Greenwood (2001). Colonizing knowledge: commodification as a dynamic
of jurisdictional expansion in professional service firms.
• Article 5.2 – Maister (1982). Balancing the professional service firm
• Article 5.3 – Anand et al. (2007). Knowledge-based innovation: emergence and ambedding of
new practice areas in management consulting firms
WEEK 6
• Speaker’s corner
• Exam preparation slides
, WEEK 1
Chapter 1 – Bulletproof problem solving
A) Introduction
Problem solving = decision making when there is complexity and uncertainty that rules out obvious
answers. There are consequences that make the work to get good answers worth it.
Pitfalls & common mistakes in problem solving
• Weak problem statements
• Asserting the answer = seen this before
• Failure to disaggregate the problem = break problem down
• Neglecting team structure and norms = diversity & divergent views, collaborate & compete
• Incomplete analytical toolset
• Fail to link conclusions with storyline for action
• Treat problem solving process as one-off rather than iterative one = problems not solved once
and for all
B) Bulletproof problem solving cycle
1. Define the problem = arrive at a problem
definition that is agreed by all people making
the decision. Problem must be:
a. Specific not general
b. Clearly measure success
c. Bounded in timeframe
d. Bounded in values of decision maker
e. Involve definitive action being taken
2. Disaggregate the issues = break down into
different parts & components → logic trees.
Cleaving problems = revealing their fault lines.
Try different breakdowns to see which yields
the most insights, and use theoretical frameworks.
3. Prioritize the issues, prune the tree = focus on branches with biggest impact (size) and which can
be most affected (ability to move). Matrix of size impact for each lever.
4. Build a workplan & timetable = assign team members to analytic tasks with specific outputs &
completion dates. Set norms and generate a diversity of views.
5. Conduct critical analyses = start with simple estimates & heuristics, then implement more
complex tools.
6. Synthesize findings from the analysis = test validity and synthesize findings
7. Prepare a powerful communication = prepare a powerful storyline from the conclusions.
C) Disaggregate the issue – Issue trees
Issue trees = clear visual representation of the problem, which are holistic and lead to clear
hypothesis.
• Mathematically complete deductive logic trees for business problems
,• Weighted factor analysis for decision making
• Decision trees for walking through complex choices
D) Case – does Sydney ariport have adequate
capacity?
• Step 1 = define the problem, will aiport
capacity be adequate?
• Step 2 = disaggregate the issue, look at supply
and demand
• Step 3 = what is fixed, what is not? E.g.
runway utilization & Sydney market share.
• Step 4 & 5 = how can we increase utilization
(operation hours, planes per hour, people per
plane) and how to decrease demand, increase
price. ➔ What are effects of this?
Chapter 4 – Workplan & Team processes
A) Best practice approaches to workplanning
Build a workplan & timetable = assign team
members to analytic tasks with specific outputs and
completion dates. Include norms around generating
a diversity of views (avoid bias).
Best practices
1. Don’t do any analyses that aren’t guided by
very clear and testable hypotheses = look into X
or Y
2. Work backward from clearly visualized and
dummied ouputs = analysis is drive by specific contribution to the problem
3. Be careful about analysis order = knock-out analyses first, provide focus on critical path in
problem solving.
4. Be specific about who is doing what by when = no confusion about responsibilities/deadlines
5. Workplans only go 2-3 weeks + long-term study plans = early analysis changes the plan
B) Model workplan
Model work plan = chunky, short and specific. Split by definition/action. Definition = what situation
prevailed before? E.g. performance deterioration. Action = what caused the decline? Should include:
• Issue = e.g. why are fewer students enrolling in nursing school
• Hypothesis = e.g. demand for nursing is high, program capacity is low
• Analysis = e.g. assess #qualified students applying
• Source
• Responsibility + timing
• End product = e.g. charts of nursing places, applications, acceptance rates
, C) One day answers
One day answers = stating what you know about a problem at a certain point in the process. Clarify
where you are and what work is left to do, provide a strawman (brainstormed simple draft proposal
to generate discussion) for pressure-testing your work → sharps hypothesis, sends resources to
biggest gap.
1. Short description of the situation =
State of affairs, the problem.
2. Set of observations/complications =
What creates tension? What was
changed/went wrong?
3. Best idea for resolution of problem =
What should we do?
