[How to solve a CASE STUDY?]
As you know, one of the challenges of the second round is prolem solving. Candidates will be given a case study and they need to review and apply all their business knowledge, experience and critical thinking skills to find out the solutions for the problem.
But do you know how many steps to solve a case study effectively and how to analyst a problem before raising your solutions?
Read the case thoroughly.
To understand fully what is happening in a case, it is necessary to read the case carefully and thoroughly. You may want to read the case rather quickly the first time to get an overview of the industry, the company, the people, and the situation. Read the case again more slowly, making notes as you go.
Define the central issue.
Many cases will involve several issues or problems. Identify the most important problems and separate them from the more trivial issues. After identifying what appears to be a major underlying issue, examine related problems in the functional areas (for example, marketing, finance, personnel, and so on). Functional area problems may help you identify deep-rooted problems that are the responsibility of top management.
Define the firm’s goals.
Inconsistencies between a firm’s goals and its performance may further highlight the problems discovered in step 2. At the very least, identifying the firm’s goals will provide a guide for the remaining analysis.
Identify the constraints to the problem.
The constraints may limit the solutions available to the firm. Typical constraints include limited finances, lack of additional production capacity, personnel limitations, strong competitors, relationships with suppliers and customers, and so on. Constraints have to be considered when suggesting a solution.
Identify all the relevant alternatives.
The list should all the relevant alternatives that could solve the problem(s) that were identified in step 2. Use your creativity in coming up with alternative solutions. Even when solutions are suggested in the case, you may be able to suggest better solutions.
Select the best alternative.
Evaluate each alternative in light of the available information If you have carefully taken the proceeding five steps, a good solution to the case should be apparent. Resist the temptation to jump to this step early in the case analysis. You will probably miss important facts, misunderstand the problem, or skip what may be the best alternative solution. You will also need to explain the logic you used to choose one alternative and reject the others.
Develop an implementation plan.
The final step in the analysis is to develop a plan for effective implementation of your decision. Lack of an implementation plan even for a very good decision can lead to disaster for a firm and for you. Don’t overlook this step. Your teacher will surely ask you or someone in the class to explain how to implement the decision.
Hope above steps will help TOP 30 show their abitilies and get the best result