This week ConSIG, the Consulting Club of SJMSoM, conducted a session on “Strategy Formulation for a Business" by Shreyas Ganesh - based on his summers experience in Everstone (previously FCH). Also, there was interactive Q&A session on preparation for case interviews, consulting profiles offered in 2009 and selection processes.
Shreyas from SOM11 began the session on Strategy formulation by giving a hypothetical case about some company wanting to enter Indian market. We gave our opinions on the steps company should take. And through discussion, we decided on some basic framework and strategies. We discussed estimating the market, marketing mix, assessment of strength, competitor analysis and SCA (Sustainable Competitive Advantage) approaches. Shreyas emphasized on the importance of giving logical and feasible strategies, and not so called ‘global gyaan’.
After that, Shreyas shared his experience of his summer internship project. His project was about recommending strategies to generate 2-3X revenues in time span of three years. It involved doing in-depth analysis of the existing market, competitors and market research for the product. He had to take feedback from unorganized market by conducting focussed group interviews of consumers, traders, sellers and other stakeholders. He also interacted with salesmen to gauge the real picture of the market.
In the last part of the session, we had our doubts cleared about consulting firms’ selection process. We also got information on the various profiles offered and the different interview processes adopted by different companies.
All in all, it was a great session. We got to learn a new framework on forming business growth strategies for any firm. These frameworks usually have real applications for any consulting profile. We are looking forward to have more such insightful and learning sessions from ConSIG.