Entrepreneurship/Family business

ISB Interview Exp. (Entrepreneurship): Fast Food Restaurant Owner/ 4 years 9 months

This is the real ISB interview experience of a candidate who has 4 years 9 months of total work experience out of which 20 months was as a fast food restaurant owner. The remaining work experience was as a software developer.

ISB Interview Experience - Fast Food restaurant owner - 4 years 9 months

The ISB interview was conducted on February 29, 2016. As per the candidate’s information, there were three alumni in the interview panel. In his/her opinion, the interview was mainly focused on the experience of running a fast food store.

Interview Date20th February, 2016
Work ProfileSCM Software development; I also ran a fast-food store for 20 months
Total Experience: 4 years 9 months
Interviewers’ ProfileP1 – from Flipkart
P2 – from Xiaomi
P3 – from Amazon
Your Opinion on the approach of the interviewers and their key focusThe interviewers cross-questioned me on every answer I gave. They were more focussed on my experience of running a fast-food store. They didn’t question me about my IT role at all.

Qn: Why MBA and why consulting?
A: Explained about my technical background and analytical skills and why I like solving client-specific real-world business problems. Also explained how I would get an understanding of different industries and markets through peers in an MBA class. Explained how ELP and case studies would give me hands-on experience

Qn: What was your role in the fast-food store you ran?
A: Talked about managing finances, managing inventory, CRM, taking care of employees, interacting with franchisee officials and so on.

Qn: Provide a competitive analysis for the fast-food store you ran?
A: Listed out some competitors. We analysed the revenue model of each franchisee based store. Also I did a detailed analysis of the revenue model of the store I ran. We discussed details regarding fixed cost and operating costs of the store.

Follow-up Qn: What are 3 learnings that you could provide a person starting a similar store?
A: Listed out a) Importance of location b) Importance of process c) Importance of customer engagement

Follow-up Qn: If you were to change the location of your store, how would the revenue of your store change?
A: Analyzed the various components of the variable cost that would change on change of location such as electricity cost, gas cost, and salaries of employees and so on.

Follow-up Qn:  How important is ‘point of sales’ machine in your operations?
A: Explained how “POS” helped in operations. I also explained the different reports it would generate and how they helped.

Qn: We have a team of 5 working on setting up a fast-food store. We have 2 engineers, a CA, a soldier and a fashion designer. If you were to lead this team, what role would you give each of them?
A: The roles would be allotted according to their strengths. CA – find the tax structure; Engineers – Market Analysis; Fashion designer – Design interiors; Soldier – Setting up of the store. I also explained my choices.

Qn: What are your hobbies?
A: Answered

Qn: Tell us about your family
A: Answered

Qn: If not ISB this year. What would you do?
A: I talked about a certification related to Supply chain management and also told that I would try to do freelance consulting.

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