Amazon Question Bank Flashcards
(1 cards)
RIGHT A LOT
Tell me about a decision for which data and analysis weren’t sufficient to provide the right course and you had to rely on your judgment and instincts.
Give me two to three examples. They don’t have to be big strategic decisions – could be big or small.
I partnered the World Art Books & Science GM and reported to the Global Finance Director at Christie’s. My manager sometimes received urgent questions at short notice from the CFO. She asked me about why, although a recent books auction had performed well, the gross profit was still slightly below the forecast. I explained that I hadn’t had the time to analyse and she said that given the time pressure I would just have to give my best guess. I was concerned about giving the wrong answer but my gut instinct suggested that the lots sold were the higher value lots meaning that Christie’s would have earned less commission (so less profit due to sale mix). I also remembered that one of the lots that didn’t sell had a reserve, which meant Christie’s would have to pay the seller even though the lot didn’t sell. That would have eaten into the profit as well. I provided that as the answer and the CFO used the information during his meeting with the CEO. Later when I had time I reviewed the information and found that my hunch was correct.
