How To Maximize Learning Using Case Studies

Jim Kayalar
What are cases and why do business schools use them? Essentially, cases are business stories. They are designed to emulate real life business situations you will encounter as a manager and make you think, analyze, make decisions and create solutions within a limited amount of time. Some cases are decidedly better than others and are based on real business situations and challenges. How do cases work? The reader is given a business situation in a specific setting, a time period involving an individual or organization in a decision making position and department. The reader will be asked to assess the case and answer some questions within a certain time period. Example: Revenues are up but profits have been down at ABC Inc. over the last two years. John Doe and Jane Doe managers at ABC Inc. are tasked with assessing the reasons why profits are down despite revenue increases. Page upon page of qualitative and quantitative exhibits, charts, graphs and a host of relevant as well as irrelevant data are presented to the reader. The reader must eliminate the irrelevant data and find the "right" data to base their analysis on. Just like in real life. Some case writers are kinder and present the relevant data in compact form, others hide the relevant facts. Most of the time though data is easy to discern and act upon. Upon entering the workforce some business school graduates who are used to the practicalities of the condensed case study method are found to be lacking when it comes to analyzing business situations. They find it difficult to process raw data into relevant information which will then form the basis of a business decision. All business decisions are formed based on a combination of historical data, i.e. "What worked before?" & "How did we do this before?" and expectations for the future "Will the solutions we used in the past work this time around?", "Do we need to adapt the solution?" and of course "Do I have enough information to make the right decision?". All relevant questions. Most case studies are incomplete. Some of the data may be missing either because the case writer did so intentionally or the data was not available. Just like in real life. Here's how to maximize your learning using case studies. 1. Resist the temptation to do an initial online search about the case. Do the case first, answer the questions and then do the online search about what happened to ABC Inc.. By initially reliving the same industry, market, organizational and managerial conditions as depicted in the case the reader will face the same constraints and level of information to make the best decision that they can. There might be new data on ABC Inc. online or even worse a complete case analysis written by some "brilliant" person Jim Kayalar 2013 Page 1

who wants to sell it for $6.99. Resist the temptation. Accept the business situation and the data presented in the case as final and try to make the best decision that you can. You will learn more this way. When (and not if) you are confronted with a similar situation in the future you will have firsthand experience on how to deal with that situation. Please remember that most actual business situations and challenges are at least 80% similar. Your diploma may open important doors but it is what you learn that will keep you inside those doors. 2. First speed read the case. Skim through it but at the same time make note of the following: What is this case about? Who is/are the main actors/decision makers in the case? Where does the case take place? When does the case take place? Why is the business situation happening? How would you find a solution?

You may have noticed that I used Rudyard Kipling's six honest men to do the initial analysis. 3. Read the case again but slower this time. Try to look for small nuances hidden in the case that may add or detract from your proposed solution. Try to get an understanding of the time factor (If there is one). 4. Now and only now take a look at the question(s) that you were given. 5. You may work a case individually or as part of a group. Solving cases as part of a group will have the advantage of bringing together individuals with diverse backgrounds, experience and perspectives. Treat the group discussion as you would a business meeting and encourage your peers to do the same. Right and timely decisions based on relevant information are rewarded in the real world. Wrong and late decisions based on irrelevant information or yet worse, decisions based on a gut feeling are usually not rewarded. 6. Use the allocated time wisely. If you are working in a group try and understand the perspective of the group member with the finance background as opposed to the member with marketing experience. Discuss the different options to a solution. Negotiate with the group if you have to. Reach a compromise or disagree in part or in whole to the groups suggested solution and voice your alternative solution. Just like it happens in real life. 7. Try to query what really happened. What decision did the actual decision makers at the company make. Remember though that those decisions may not be completely right. Most decisions are not a 100% right. They may have been right at the time given the prevalent conditions in the economy, industry and organization but with the added benefit of hindsight you may actually be in a position to make better decisions. Jim Kayalar 2013 Page 2

Some cases may have a "What Happened" epilogue which the instructor may share with you. Please make time to discuss "what really happened". It will give you additional insight to make better decisions. Every business situation presents the manager with a set of challenges. Each business situation will have more than one solution. Different departments or even individuals in an organization may prefer one solution over another because it will best fit their needs in that moment in time. Your goal should be to understand these conflicting factors that usually result in sub optimal decisions and focus on what would constitute the optimal decision for the organization as a whole. 8. Take notes and save the case study for future use. You will be confronted with a similar business situation in the future and having the "knowledge" product to solve the problem in your library will help you make faster and better decisions.

Jim Kayalar, DBA(ABD), MBA is a C-Level executive, management consultant, Professor of business and Internationally published author with over a dozen publications distributed by Aspen Institute, Harvard Business Review, Ivey Publishing, CCMP France, ECCH England, National Chengchi University Taiwan and numerous other publishing houses. Web: http://www.provisium.com Email: info@provisium.com Connect on Linkedin: http://www.linkedin.com/in/jimkayalar

Jim Kayalar 2013

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