Do you feel that you already know all possible frameworks of business problem solving (Porter's five forces, the BCG-matrix etc.), yet you are still not confident in using them? Or maybe you already took a course on management consulting problem solving approach, but the jargon used didn't make much practical sense to you (The 80/20 rule, MECE etc.)? Whether you're a student studying for case interviews or a businessperson, what you might be lacking is a comprehensive aproach to problem solving that generates consistent results.
If so, this course is for you! I can guarantee you will not find another such comprehensive introductory course on hypothesis-based problem solving - the top consulting firms' technique of choice on all kinds of business consulting engagements.
With the content in this course I would like to introduce you to the topic of business problem solving. Provided you find this introduction helpful, I would be delighted to welcome you to my more advanced courses that I intend to publish soon. They will build on the knowledge from this course in order to develop further the topics covered here.
But for now let's jump into this course. Hit Enroll and let me show you a way to become a rising star of problem solving in business!
Learn what problem structuring is, why top consulting firms do it, and why structuring some kinds of problems (especially business related) will help you solve them in a consistent and effective way.
Understand the difference between expert knowledge in a particular topic, and expert knowledge in business problem solving. The latter is what characterizes top consultants from firms like McKinsey, BCG and Bain (MBB).
The pros of using hypothesis based problem solving. Learn what its advantages are over deductive and solution oriented problem solving techniques.
Understand what steps an HBPS cycle consists of:
1. Problem formulation
2. Problem structuring
3. Workplan design
4. Solution communication
The following questions will test your understanding of this section of the course. Don't hesitate to replay the indicated lessons if you get something wrong (beginnings can be tough so don't worry)!
Study the most important aspects of the business context of a problem including the stakeholders, business environment (market, trends), success criteria and information sources.
Learn the SMART approach to formulation of ideas (here particularly problem statements) used extensively in the consulting business. SMART is and acronym that stands for: Specific, Measurable, Action-oriented, Relevant and Time-bound.
Learn the basics of problem breakdown and structuring which is the basis for all business frameworks (Porter's 5 forces, BCG Matrix, 4Ps etc.). See the big picture of cracking business cases.
Learn a very useful method of exploring issues related to a given concept which you can use both alone and in the form of a group exercise.
Understand what many regard as the core of HBPS: issue trees (that provide a graphical representation of the whole HBPS process) and the MECE approach (being Mutually Exclusive and Cumulatively Exhaustive). See how hypotheses, the most probable solutions to problems, emerge from proper problem structuring.
See how to use mindmaps and issue trees in practice! In this lecture I walk you through the process of creating both.
Get acquainted with what is required to test hypotheses: data and analyses.
Understand the reasons for prioritizing, which is a driver behind the success of consulting firms. It allows them to quickly generate value for their clients in a relatively short time.
Learn to use practical tools of top managers and consultants that they use to prioritize their work. Such tools allow them to invest their time only in the most promising ideas.
Learn to generate meaningful conclusions that are not mere summaries but synthesize information to generate true insights for clients regarding their businesses.
Get acquainted with a very powerful consulting technique borrowed from filmmaking. It is used to generate slide decks with impeccable flow of logically connected ideas: from the main synthesized message/solution to supporting arguments and results of analyses.
Consulting jargon explained - the 20 most used terms (MECE, so what, boiling the ocean, ...)
Hi, my name is Piotr and thank you for your interest in my courses.
Throughout my lectures I want to inspire you to solve your business problems in a thoughtful and structured way. Whether you are a student contemplating starting a career in management or consulting, an entrepreneur or an employee of any kind of business - I will explain to you a framework for business problem solving.
I will share with you my experience and perspectives of a business and technology consultant for leading global consulting firms, an entrepreneur, and a university lecturer.
Before switching to business and consutling I studied engineering at Imperial College in London and ETH in Zurich and philosophy at LSE.