Case studies are used in many vocational training programs, mainly in business schools, to present real-life situations to students and evaluate their ability to analyze the important aspects of a given problem. In general, a case study should include, in this order: the context of the business activity, the description of the company under investigation, the identification of a key issue or issue, the steps taken to address the issue, your assessment of these initiatives, and suggestions for a better business strategy. The steps outlined in this article will guide you through the process of analyzing a business case.
Steps
Step 1. Review and describe the business environment in reference to the case study
Describe the nature of the organization under review and its competitors. Provide general market and customer information. It indicates any significant change in the business environment or any new initiative undertaken by the company
Step 2. Describe the structure and size of the main company under consideration
- Analyze its management structure, employees, and financial history. Indicates the annual turnover and profits. Add some employment data. Include details about private and public securities, and capital goods. Add a brief analysis of business executives and the chain of command. Identify the central issue or problem of the case study.
- In all likelihood, there will be several factors at play. Decide what the central issue will be in the case study by examining what the data suggests, the main issues faced by the company, and the final conclusions of the study. Examples include an expansion to new markets, a response to a competitor's marketing campaign, or a change in target audience.
Step 3. Describe how the company reacts to these problems and issues
Based on the information you have gathered and trace a chronological progression of steps already taken (or not completed). Mention the data included in the case study, such as increased marketing spend, new property purchase, change in revenue stream, etc
Step 4. Identify the positive and negative aspects in relation to the measures taken
It indicates whether each aspect of the initiatives has achieved its objective and whether overall the interventions have been carried out correctly. Use numerical reference indices, such as a desired market share, to show whether the objectives have been achieved; analyzes broader issues, such as employee management arrangements, to judge overall results
Step 5. Identify successes, failures, unexpected results, and inadequate measures
Suggest alternatives or improvement measures that can be implemented by the company, using specific examples, and support your suggestions with data and calculations
Step 6. Describe what changes you would make in the company to achieve the results you proposed, including organizational, strategic and management changes
Step 7. Conclude your analysis by reviewing your results and emphasizing what you would do differently in the case
Illustrate both your point of view on the case study and your business strategy.
Advice
- Business school teachers, prospective employees, and other observers expect to see that you understand different aspects of the business, not to judge your abilities. Always remember that what's important is the content of the case study, not the way the information is presented or your style.
- Always read a case study multiple times. In the beginning, you should read focusing only on the basics. In each subsequent reading, look for details on specific topics: competing companies, business strategy, management structure, financial losses. Highlight the phrases and sections related to these topics and make a note of them.
- If you are analyzing a case study for a job interview with a consulting firm, be sure to direct your comments towards the activities that are carried out by this company. For example, if the company deals with marketing strategies, focus your attention on the successes of the company and the failures in marketing; if you are interviewing for a job as a financial advisor, analyze how the company keeps their records and their investment strategy.
- During the preliminary stages of case study analysis, no detail is insignificant. Large numbers can often be deceptive, and the point of analysis is often to dig deep and find variables, otherwise overlooked, that can be conclusive.
