Of Analytics and Finances—Case on Point
The first event of The Consulting Club at Manipal, Case on Point kicked off on a high note with a talk by the club president, Chirag Gaind. The Consultancy Club started with a vision entirely different from any other club in existence at MIT. As expressed by the president, “The club stands out as it helps students who are inclined to the financial side and further want to pursue an MBA or are interested in pursuing something non-technical. We will be conducting case studies from some of the best companies like Bain and Company, BCG, Deloitte and top business schools like Stanford, and Harvard. We will also be enunciating the importance of case solving which deepens the analytical skills”. He also went on to explain how consultancy, business skills, and networking were important and prime motives behind the formation of this club, and how it would help the students achieve these. Further, Chirag praised the enthusiasm of the first-year students, who construed the majority of the crowd during the event.
Case on Point showcased a case study that involved participants analyzing the company ChickFlix—the business provided movie rentals to buyers in different subscription packs. The participants were made to seek out the reasons for the company’s loss and the prime driver for profit besides the source of their competition. They were further required to do mathematical calculations and compute the net profit of subscription three in the year 2010 along with increment in price needed in pack one and two to equal the profit from sub-pack three. After this, the participants were required to present a solution to the issue with possible consequences. In the end, a discussion session was held with the board members presenting a sample solution and encouraging the teams to present and discuss their solution with others.
After the event concluded, the president introduced the board members and thanked the audience for their presence. Two of the participants Anchal Dokania and Rachit Kumar expressed that, “We are curious about finance and are not aware of any other club in MIT that deals in finance. A group of like-minded people pursuing a common goal is best for learning. The event was better than expected. It was an entirely new approach to include math. Generally, people go for useless theories. We would love to join the club if given a chance.”
One of the board members Karanveer Aneja said, “When companies have issues regarding strategic decisions, they consider calling professional consulting firms to solve their problems. So some of the problem statements help in building analytical skills which are helpful in interviews and during the placement process. Today we are covering one of the cases based on Profitability Optimization. The aim of the club is to facilitate a seamless transition between graduate school to a successful career in management consulting through awareness, skill-building and networking.“ The attendees left the event satisfied with their new-found knowledge ensuring an epic start to the newly formed club. Overall, the event was a success and met the targets it set out to achieve.
Image Credits: The Consulting Club at Manipal