How to go about a Case Study: A Guide for young MBA Students

How to go about a Case Study: A Guide for young MBA Students
Hi everyone, before we start I just wanted to welcome you again to the course and just wanted to share that this newsletter would be your companion for MM course as well as all my other courses in the future and you can get the most out of it by subscribing to it so you don't miss out on any updates.

On that note let's begin!

The second week of our classes were a quick departure from what we had done in the first week. Let me just spell out a little secret for you. The little bit of a pep talk you had, that was all part of the plan. My disappointment in you, while real, was not something that was not expected. Year after year, students have been behaving exactly the same way as you did. They do not come prepared and are busy getting acclimated to college life. This is something that we understand (and plan for). If you had seen the course outline, there was an obvious hint there. Two classes for one simple case? Did you really think that was a chance event? 

Having said that, year after year (I’m only 3 years old in the system btw), I have been waiting for my fair share of type 1 errors from you people. I want to be stupified by a hyper prepared class who can sweep me off my feet with their uber preparedness! Tell me honestly, is that too much to ask for? (you see what I did there, don’t you? - Now you can remember you guys are the type two errors in my class - and strive to be type 1s! - and in the process, remember something super important for stats class! You’re welcome!) 

 

Well, jokes apart, both our classes were good and I want to take a moment to summarize the key learnings from them. Our intent here is not to critique the case itself but to draw valuable insights from it. My hope here is that you will take some of these learnings and apply it to every case study that comes your way from now on. 

Case Dissection and Purpose:

  • Read the case not once. But twice. Hopefully with a little bit of time in between. This helps you effectively dissect a case to extract meaningful learnings.
  • It pays to understand the purpose behind why a case is written and the lessons it aims to convey. This is where the course outline comes in handy. Typically, all cases sessions have other readings (book chapters, papers etc) that come as pre-reads. Skipping them can severely impact your learning outcomes. 
The intent is to learn vicariously. 

Critical Analysis and Perspective:

  • Our goal is not to determine right or wrong, but to understand the case's various dimensions. Chances are, if we were in the same position, we may have done the exact same errors/right things that the case protagonist does. The intent is to learn vicariously. 
  • Develop the skill to read between the lines and critically analyze the presented facts is key. You will acquire this with practice. But for that, you have to practice. Make a case discussion group and start discussing the cases over dinner/lunch (I know you people don’t eat breakfast). 
  • Examine the case from different perspectives to gain a holistic understanding. Typically, this is where you want a bunch of people who don’t think like you around. If you are a marketing guy, find a finance guy. If you are aggressive with your approach, consult with a defensive person. These fresh perspectives help. And in class, you will see how this plays out. 
  • Recognize that cases and their learnings cannot be generalized due to their unique contexts and purposes.

Data Utilization and Assumptions:

  • Good managers use reliable data, but the desired data may not always be readily available. Sometimes, effort is required to gather or generate the necessary data.
  • Syndicated data or data from marketing agencies may not always provide the right insights, necessitating a search for inconsistencies and deeper analysis. Whenever you see data tables, ask yourselves - how did this data get generated? If you had done it, would you have done it differently?  In other words, understand the underlying assumptions behind the case facts and any technical terms used.
  • Identify inconsistencies within the case to spark debate and understand breakdowns in data. Very often you will see that there are glaring dichotomies that exist in the case. It is these issues that actually make the case an interesting discussion. If not for them, they are often open and shut. Find them and discuss them.  

Additional Insights:

  • Pay attention to footnotes, as they often contain valuable information. Do not simply skip them. 
  • Utilize exhibits, as they hold crucial data that can enrich understanding of the case.
  • Link insights from one class (like marketing) to other subjects to enhance overall understanding.
  • Initially, focus on the facts presented in the case as the primary source of information. As you advance, integrating external facts to validate interpretations and readings. Recognize that the intent is not to answer based on what actually happened, as multiple outcomes are possible. What happened is just one possible scenario.
Stay curious, stay diligent, and always be ready to challenge yourself.

In wrapping up, remember that the essence of learning from case studies lies in the depth of your engagement with the material. Strive to be prepared, think critically, and collaborate with peers who bring different perspectives. Your effort in dissecting cases and utilizing data thoughtfully will not only make our class discussions richer but also hone your skills as future managers.

Stay curious, stay diligent, and always be ready to challenge yourself. Let’s make this journey through the course an enriching and transformative experience. Looking forward to seeing your growth and enthusiasm in the coming weeks.