⟩ In this industry, consultants make it a point to be remain constantly aware of some basic business news and current events. Why?
It's important for you to stay on top of recent insights - but it's also important that you're always ready to engage in a business conversation with a client. This question is a proxy for both - are you genuinely interested in business? Are you client ready?
Be prepared to make business insight review a part of your daily schedule, if it is not already - starting today. Some suggestions are to start reading the Wall Street Journal, The Economist, and Fortune. You don't need to memorize each and every detail, but you do need to form opinions and have a basic understanding on what is happening and why that might be important. Start with focusing on some leading companies and business issues of that day.
"Tell me about a company you admire." Here's an example question - and when you're building the answer, remember: you are trying to convey passion for business and insights as well. You will want to structure your answer and give 2 or 3 well-developed topics. Don't ramble on-and-on - 1 minute max is sufficient - and be succinct and genuine. As a bonus, you might want to share some ideas on what will make the company stronger/more admired. This shows the interviewer that you're growth oriented and you believe you can do great things.