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Strategy& Case Interview Examples: A Worked Practice Case

Strategy& cases are candidate-led and close to MBB in difficulty, and the fit interview carries unusual weight. Work through a full Strategy&-style portfolio case step by step, check your math as you go, and compare your answers to a model response.

By the Case Prep Team Updated October 1, 2026 16 min read

Candidate-ledYou drive the case

2 roundsTypical for entry-level roles

Fit-heavyBehavioral answers weigh a lot

CapabilitiesThe lens Strategy& is known for

Start the practice case Read the Strategy& interview guide

Format

What makes Strategy& cases different

Strategy&, formerly Booz & Company, is PwC's strategy consulting arm. It recruits separately from PwC Consulting, and its cases are harder and more strategic, closer to what you would see at MBB.

Capabilities-driven thinking

Strategy& is known for its capabilities-driven approach to strategy: companies win by focusing on the few things they do better than anyone else. Bringing that lens into a case, asking what the client is distinctively good at, sets you apart.

Candidate-led and demanding

You set the structure, drive the analysis, and push to a recommendation. Expect market entry, profitability, M&A, and portfolio cases.

Fit carries unusual weight

Prep guides estimate that behavioral fit makes up a large share of the overall evaluation at Strategy&, more than at most firms. A strong case can be undone by weak stories.

Strategy& and PwC Consulting interview differently. PwC Consulting cases are more practical and often more guided. If you are applying there, see the PwC case interview examples instead.

Case types

Case types Strategy& candidates report

These five themes cover most Strategy& cases. Each example prompt below is an original Strategy&-style prompt, not a real interview question. Pick a tab to see how you would structure it and what math to expect.

Example prompt: A food company with four divisions wants to focus. Which should it keep, fix, or sell?
How to structure it: Assess each division's market attractiveness, competitive position, and fit with the company's core capabilities, then decide invest, fix, or exit.
Math to expect: Revenue and profit by division, growth rates, and sale value at a multiple.

Practice case

Worked practice case: Verity Foods

This is an original case written in the style Strategy& candidates describe: a portfolio decision, a division exhibit, valuation math, and a capabilities question. In a live interview you would drive the structure yourself. Here, each step shows the question an interviewer would likely ask next.

Answer each step out loud or on paper before you reveal the model answer. The suggested times match a strong candidate's pace.

Portfolio strategyPackaged foodAbout 25 minutes

Verity Foods: what should the portfolio look like?

Your client is Verity Foods, a US packaged food company with $2 billion in revenue across four divisions. Its growth and margins have lagged its peers for several years, and investors are pushing for change. The new CEO wants to focus the company on fewer, stronger businesses. She has asked Strategy& which divisions to invest in, which to fix, and which to sell.

If you ask clarifying questions, the interviewer shares:

Each division has its own brands, but they share manufacturing, sales, and distribution.
Verity's largest strength is building consumer brands.
Several buyers have expressed interest in parts of the business.

0 of 6 steps revealed

Structure the problem

Take about 2 minutes

Interviewer: How would you approach this?
I would assess each division on three things, then sort it into invest, fix, or sell:
- Market attractiveness: how fast the category grows and how profitable it is.
- Competitive position: Verity's share, brand strength, and margins against rivals.
- Capability fit: whether the division wins through what Verity is distinctively good at, building brands, or through something else, such as low-cost production.
I would also check shared costs, since selling a division can leave overhead behind.

Why it works: adding capability fit to a classic portfolio structure is exactly the Strategy& lens. It turns a numbers exercise into a strategic one.
Read the division exhibit

Take about 3 minutes

Interviewer: Here is Verity's performance by division. What share of total operating profit comes from Snacks, and what does the data tell you?

Exhibit 1: Verity Foods by division

Division Revenue ($M) Annual growth Operating margin

Snacks 800 6% 15%

Frozen meals 600 0% 6%

Baby food 300 8% 12%

Canned vegetables 300 -3% 4%

Total 2,000

Illustrative data for practice.

Snacks share of profit (%)
Value the sale

Take about 2 minutes

Interviewer: Buyers would pay about 8 times operating profit for Canned vegetables. What would Verity raise by selling it?

Sale proceeds ($M)
Model the focused portfolio

Take about 3 minutes

Interviewer: Suppose Verity sells Canned vegetables and lifts the Frozen meals margin from 6% to 10%. What would the company's overall operating margin be?

Operating margin (%)
Think about capabilities

Take about 3 minutes

Interviewer: To win in Snacks and Baby food, what capabilities does Verity need, and how should it build them?
- Product innovation: faster launches of healthier snacks and premium baby food. Build it by creating a dedicated innovation team and buying small, fast-growing brands.
- Consumer insight: deeper understanding of parents and health-conscious snackers. Invest in data and research, especially from online sales.
- Online and direct sales: baby food subscriptions and online snack sales are growing fast. Partner with online retailers and build in-house skills.
- Brand building: Verity's existing strength. Focus marketing spending on the two growth divisions rather than spreading it across all four.
Linking each capability to a specific way of building it shows you can turn strategy into action, which is central to how Strategy& works.
Make the recommendation

Take about 1 minute

Interviewer: The CEO asks for your recommendation. What do you say?

Division	Revenue ($M)	Annual growth	Operating margin
Snacks	800	6%	15%
Frozen meals	600	0%	6%
Baby food	300	8%	12%
Canned vegetables	300	-3%	4%
Total	2,000

Math

Strategy& case math quick check

Strategy& cases move quickly between margins, growth, and valuation. Try these four without a calculator, and aim for under a minute each.

A division earns $30M of operating profit on $250M of revenue. What is its margin?

Margin (%)

A business earns $15M a year and sells for 9 times earnings. What is it worth?

Value ($M)

Revenue of $800M grows 6% a year. Roughly what is it after two years?

Revenue ($M)

A company cuts 5% from a $400M cost base. How much does it save?

Savings ($M)

Behavioral

The fit interview and other formats

Fit carries real weight

Strategy& puts unusual weight on behavioral fit, so a strong case alone may not be enough. Prepare four to six stories with clear results, and be ready for detailed follow-up questions. Have a specific answer to why Strategy& rather than PwC Consulting or an MBB firm, ideally tied to its capabilities-driven approach or a practice that interests you.

Written and group cases

Some offices add a written case or group exercise, usually in the final round. In a written case, decide your answer early and give each slide one clear takeaway. In a group case, contribute early, build on others' ideas, and help the group reach a decision.

Many candidates also take PwC's online assessment before interviews, so check your invitation for the full sequence.

Prep plan

A two-week prep plan for a Strategy& case

Days 1 to 3
Practice structuring portfolio, M&A, and market entry cases, adding a capabilities lens to each. Start with the frameworks guide.
Days 4 to 6
Drill math daily: margins, growth, and valuation multiples.
Days 7 to 8
Work through exhibits with several business units, sorting each into invest, fix, or sell.
Days 9 to 11
Run full candidate-led cases with a partner. Redo Verity Foods from memory and time yourself.
Days 12 to 14
Spend real time on fit: polish your stories, practice follow-up questions, and sharpen your "Why Strategy&?"

Keep preparing

Strategy& interview guideRounds, formats, and fit expectations. Strategy& salariesPay by level, compared with core PwC. PwC case examplesA worked deal case for PwC Consulting. PwC and Strategy& deadlinesDates and timeline for the next cycle.

FAQ

Frequently asked questions

Are Strategy& case interviews candidate-led?

Yes. You set the structure, drive the analysis, and push to a recommendation.

How hard are Strategy& cases?

They are generally considered close to MBB in difficulty and harder than PwC Consulting cases.

How important is fit at Strategy&?

Very. Prep guides estimate that behavioral fit makes up a large share of the evaluation, so prepare your stories as seriously as your cases.

What is capabilities-driven strategy?

It is the idea, closely associated with Strategy&, that companies win by focusing on a few distinctive capabilities they do better than anyone else and aligning the business around them.

How is Strategy& different from PwC Consulting?

Strategy& is PwC's strategy arm. It recruits separately and runs harder, candidate-led strategy cases, while PwC Consulting cases are more practical and often more guided.

Is the Verity Foods case a real Strategy& case?

No. It is an original practice case written to match the style Strategy& candidates describe. All numbers are illustrative.

Sources

Hacking the Case Interview, Strategy& Case Interview: Complete Prep Guide. hackingthecaseinterview.com. Accessed October 2026.
Road to Offer, PwC Case Interview Guide 2026: Strategy& Format and Prep. roadtooffer.com. Accessed October 2026.
Casebasix, PwC (Strategy&) Case Interview. casebasix.com. Accessed October 2026.

Case Prep is an independent practice platform and is not affiliated with, authorized by, or endorsed by PwC or Strategy&. The Verity Foods case, example prompts, and all data on this page are original teaching material.