Case Study?

------ its origin, aims, advantages & methods

History or Origin of Case Study The origin of case study method is attributed to lawyers at Harvard University. The Harvard University Graduate School of Business Administration thereafter did substantial path-breaking work of introducing case-study method of teaching management education. This technique has been on the curriculum of that institution for almost seven decades. Indian Scenario The Administrative Staff College, Hyderabad and Sri Ram Centre for Industrial Relations& HRD, New Delhi, have done a lot of work on case studies in India. A number of Business Schools, especially the Indian Institutes of Management, have also been involved in the growth of this technique.

Case Study??? A case study is a written description of actual managerial problems, situations and events . It provides factual information about an industry, an organization, its product and markets, its competitive position and whatever financial, structural and economic data may be pertinent.

In essence, a case study provides a simulation of various organizational problems managers face on a daily basis . It is a short description, in words and numbers, of an actual management situation. Aim of Solving a Case Study? The aim of case study method of teaching management is to learn to analyze a near life situation and to develop a solution by applying the theoretical concepts of management, taught at Business school. The technique of learning by solving case studies can be applied to all streams of management studies, HRD, Finance, Materials, Marketing, Personnel, and Production etc. The ultimate aim is to develop students so that they can apply these skills during their daily life as a manager.

Advantages of Solving Case Studies The most important advantages of Solving Case Studies, is that it prepares the student-manager for problem solving in day-to-day life.

Other salient advantages are: Relevant Information:

Case-study solving technique builds up the ability to search information relevant to the objectives from the narrative. The ability to distinguish between relevant and irrelevant is an important and useful skill for a manager.

Managerial Concepts:

The student learns to apply management principles to problem of daily life. He/she may be forced to develop some concepts of his own. It is perhaps the best way to understand management principles. Generates Creativity:

Cases can not be solved by logic alone. Creativity is essential and gets developed by solving case studies. Understanding Managerial Problems:

Case studies illustrate the type of problems likely to be faced by the student during his/her life as a manager, how issues are linked, counter-pressures and develop and so on. More Interesting:

Case studies are more interesting way of understanding than learning abstract theoretical concepts.

Differing Situations:

Students learn that no two situations are alike and that solutions, good under one set of conditions, could be wrong under another set of circumstances. Not Applicable to Management Alone:

The techniques, of solving case studies are not applicable to any one field of management or restricted to management only. Expertise gained from solving case studies is useful in everyday life.

Rigorous Analytical Skills:

Analyzing data and evaluating various alternatives develops rigorous analytical skills. Decision-making Abilities:

Solving case studies requires making decisions. Repetitive decision-making and getting feedback about the correctness of the decision or its drawbacks, improves the ability to make correct and quick decisions. Slow Speed Zero risk Activity:

The student gets acquainted with business life at slow and understandable speed and learns to take actions in a zero risk environment. It is easier to graduate from case studies to real life.

Steps for Solving Case Study

1. Understanding The case/Problem: The most difficult part of solving a case study is to understand the case. This requires: Reading the narrative thoroughly with all the concentration you command. Re-read the narrative and underline key words, phrases in the case, which have a bearing on the solution expected from you. Re-read what is being asked. Understand that clearly. It is desirable to write the requirements in your own words at the beginning of the solution. This may also be used to select a suitable heading for the case study solution, if the same is not given in the narrative.

2. Boundary Limits: Specify the boundary limits under which the case is proposed to be solved. These constitute the constraints under which a case has to be solved. Boundary limits could be geographical boundaries, age brackets, income groups, or educational qualifications, etc. The boundary limits may be given directly or indirectly through adequate hints included in the narrative to enable students to assume boundary limits. Give a brief (maximum one or two lines) explanation for fixing the boundary limits if these are not given clearly in the narrative.

3. Case: This should contain the key words/phrases or key points given in the narrative. This gives a quick review of the given case, helps in finding solutions. Do not re-write the major part of narrative under this heading. 10 to 15 key points should be adequate under normal circumstances.

4. Possible Solutions: Find out possible solutions for the case. List down the merits and demerits of solutions.

5. Relative Evaluation and Selection of Best Solution: Do relative evaluation On the basis of merits and demerits of the possible solutions and arrive at best solution.

6. Management Principles Applied: Briefly explain the theoretical principles used for obtaining the solutions/best solution.

7. Implementation Plan: Convert the best possible solution into a logical action plan.

8. Feedback Plan: Plan to get a feedback at well-defined stages and, if possible, consider contingency plan/alternatives. These would have to be put in action in the event of the monitored results during the feedback showing variation from the results expected in the implementation plan.

9. Conclusion: The final step is to conclude the solution. This should consist of summarizing what the case study required and how this has been optimally achieved through the proposed solution.