A Beginner's Guide to Cracking the Case Study Method: It's Not About the Right Answer | Online MBA

You have finished the first few weeks of your Online MBA. You know how to use the online portal, you've met some of your classmates in the virtual breakout rooms, and you're starting to get used to things. You feel pretty good. And then it happens. Your teacher gives you your first case study.

You open the document. It's a 25-page report on a shoe company in Brazil that is having a hard time. There are a lot of long paragraphs, financial statements, and interviews with managers who are angry. You read the whole thing, and your head is full of information. There is one very simple question at the end of the document that makes you want to scream: "What should Maria, the CEO, do next?"

You read it again. You go back through the 25 pages. The answer isn't in bolded text. There is no clear answer. It looks like everyone involved in the case has a different point of view. Is this a trick question? What do you need to do?

You're not the only one who feels this way. Many students, especially those who are studying technical or engineering fields, find the case study method to be confusing and annoying. Our whole lives, we've been taught to look for the "right answer." The big secret of the case study method, though, is that there isn't just one right answer.

Cracking the case study method is a key skill for any Online MBA student! It's not about the right answer, but the right process.

The case method doesn't check your memory. It's a good exercise for your business mind. The goal is not to guess what the teacher thinks is the right answer. The point is to learn how to think like a leader by looking at a messy, complicated situation with missing information and making a clear, well-thought-out suggestion. It's a skill. You can learn it, just like any other skill. This is a simple way to handle any case that comes your way.

Step 1: The 10-minute recon mission

When you first get the case, don't just jump in and start reading from the beginning. You'll get lost in the details. Instead, go on a quick reconnaissance mission to get a feel for the area. It shouldn't take more than ten minutes.

Read the first and last paragraphs

The first paragraph usually sets the stage, and the last paragraph usually restates the main issue or choice that needs to be made.

Find the Main Character

Who is the main person in the story? Who makes the decisions, like Maria, the CEO in our example?

Look at the Headings

Check out the subheadings in the case. This will give you a quick idea of how the document is set up.

Check out the Exhibits

At the end, just read the titles of all the charts, graphs, and financial statements. Don't try to understand them yet. Do you have any information on sales trends? Share of the market? What is the output of the factory? This tells you what kind of numbers you have to work with.

You'll have a mental map of the case after this quick read. Now you're ready to go deeper.

Step 2: The Deep Dive (Put on Your Detective Hat)

Now you'll read the whole case, but with a purpose. You are not a student reading a book; you are a detective looking for clues.

Your Main Goal

Find the main issue. You are looking for the real problem as you read. Are the company's sales going down because of a bad marketing campaign, or is the marketing just a sign of a bigger problem, like a bad product? Is the high turnover of employees a sign of a toxic company culture, or is it just because the pay is low? It's not always clear what the real problem is.

Separate the facts from the noise

A case study has both objective facts and subjective opinions. There is a financial statement that shows profits fell by 30%. "I think our new ads are brilliant," said the Marketing Manager. This is an opinion. You need to separate the two. The facts are what you use to prove your case. The opinions are only one part of the story.

Highlight for a Reason

If you like to highlight, use a system. Use one colour for important facts and numbers. Use a second colour for sentences that point to the main issue. Use a third colour for possible options or solutions that the characters in the case talk about. This turns a jumbled document into a neat list of clues.

Step 3: The Analysis (This is Where the Fun Begins)

You have read the case and gotten your clues. Now it's time to really look at the situation. This may seem difficult, but you don't need a Business PhD to do it.

Use Simple Structures

Put the complicated business models aside for a second. Begin with the basics. A simple SWOT analysis is often the best tool. Simply draw a box with four quadrants. What are the company's strengths and weaknesses based on the facts of the case? And what are the threats and opportunities that are outside of their control? This easy task makes you sort your evidence into groups. Another great tool? A list of pros and cons that is easy to read. What are the pros and cons of each possible solution?

Follow the Money

This is an MBA. You need to check the numbers. You don't have to be a financial expert, but you do need to look at the financial exhibits. What has been the trend in revenue over the past few years? Are profits going up or down? How much money does the company owe? Use the numbers to back up what you're saying. For example, if you think the business should build a new factory, you should check the balance sheet to see if they can afford it.

Step 4: The Recommendation (Make a Choice!)

This is the last and most important step. You need to give a suggestion. Being wishy-washy is the worst thing students can do.

Be clear

Don't say, "Maria could do this or that." The whole point of the exercise is to make a decision when you don't know what to do, just like a real CEO does. Make one clear choice and stick to it.

Give proof for everything

You need to back up every claim you make with a fact from the case. Don't just say, "I think they should drop their prices." "I suggest lowering the price by 10% because our main competitor's price is 15% lower (see Exhibit C), and a customer survey on page 14 shows that people think our product is 'too expensive.'"

Recognise the bad side

A really good analysis also looks at the risks. After you make your suggestion, briefly talk about the possible drawbacks of your choice and how the company could deal with those risks. This shows that you can think strategically, not just cheerlead.

It's Not a Secret; It's a Skill

No one is born knowing how to do case studies well. You get better at it with practice. The first few cases you work on will be hard and awkward, but they will get easier. Reading, analysing, and defending a decision is the main skill you are building in your MBA program.

And the best part? You do this every day at work, even if you don't call it a "case study." You use these skills every time you have to choose a project, settle a disagreement with a coworker, or pitch an idea to your boss. The case method isn't just something you do in school; it's something you do in real life.

So go ahead and dive in. Talk about the cases with your study group. You'll be surprised at what they see that you didn't. Getting the "Right Answer" isn't the goal. The point is to get better at thinking. And that's a skill that will help you for the rest of your career.