Business Plan Appendix Example

CASE STUDY LEARNING IN BUSINESS EDUCATION- NEED OF THE HOUR

INTRODUCTION:

A case study is a meticulous method of qualitative research.  Rather than using large samples and subsequent a rigid protocol to scrutinize a limited number of variables, case study methods involve an in-depth, longitudinal examination of a single instance or event i.e. a case.  They provide a methodical way of looking at events, collecting data, analyzing information, and reporting the results.  As a result the researcher may gain a sharp understanding of why the case in point happened as it did, and what might become imperative to look at more extensively in future research.

  .ORIGIN OF THE CASE STUDY

As a distinct approach to research, use of the case study originated only in the early 20th century.  The Oxford English Dictionary traces the phrase case- study back as far as 1934, after the establishment of the concept of a case history in medicine.The use of case studies for the creation of new theory in social sciences has been further developed by the sociologists Barney Glaser and Anselm Strauss who presented their research method, Grounded theory, in 1967. The popularity of case studies as research tools has developed only in recent decades.  One of the areas in which case studies have been gaining popularity is education and in particular educational evaluation.  Case studies have, of course, also been used as a teaching method and as part of professional development.  They are well-known in business and legal education.  The problem-based learning (PBL) movement is one of the examples.  When used in (non-business) education and professional development, case studies are often referred to as critical incidents.

  HISTORY OF BUSINESS CASES.

When the Harvard Business School was started, the faculty quickly realized that there were no textbooks suitable to a graduate program in business.  Their first solution to this Problem was to interview leading practitioners of business and to write detailed accounts of what these managers were doing.  Of course the professors could not present these cases as practices to be emulated because there were no criteria available for determining what would succeed and what would not succeed.  So the professors instructed their students to read the cases and to come to class prepared to discuss the cases and to offer recommendations for appropriate courses of action.  Basically that is the model still being used.

A case may be defined as “narration of facts and other evidence relating to problem-loaded business situation”.  Without case study method, business education may not be able to occupy a significant position in the academic world.

SIGNIFICANCE OF CASE METHOD.

As against the methods of class-room lecture and textbook reading the case method has proved beyond doubt that both for gaining sound foundation in business principles and practices and for developing the requisite practice and experience in decision-Making in actual business situations it is inevitable.  Still, case method is not to be regarded as a substitute of other methods of teaching.  The Case method provides opportunities to business students to develop their analytical abilities and decision-making skills and to utilize their imagination in devising feasible programs of action.  Certain valuable skills that case analysis enables one to learn are given below:

 Thinking logically and meaningfully in a given business situation.

  Helps to sharpen the understanding and application of theories.

  Identifying the basic problems amidst the complexities of business situation 

   Interpreting and weighing the available evidence bearing upon the business situation

    Recognizing what additional information can possibly be acquired

    Distinguishing relevant material from irrelevant material

   Reaching a decision with the co-operation of others.

 To be precise,   the case learning method has large educational value, as the class-room discussion of case studies helps the management trainees in developing necessary skills for successful decision-making in actual business situations. Case study method has also been found useful in training programs for working executives.  The realism of the case material makes many managers relate what they are learning to their own situations.  They use their own experience in analyzing the cases and drive management principles from the discussion of their analysis.

OUTLINE ON CASE CONSTRUCTION

Construction or preparation of a case is more difficult than solving the issues in it.  As an aid, the following guidelines are given: 

 The purpose of the case study must be determined first.

 The nature of the case study must be identified.

 The information/inputs must be given in the case study according to   relevance.

•   An outline of the case with adequate details must be prepared.
•    The sequence of details in the case study must be decided without ambiguity.
•    A Plan of the relevant exhibits/data/facts to be provided as appendix    to the case study must be made.
•    It should be decided whether the issues should be specified in the case or leave them to be identified.
•   It is necessary to determine the nature and composition of group which will use the case study.
•  The length of the case study must be predetermined.
•  If the case study deals with historical facts, the reliable sources for compiling historical facts must be determined.
  •  The possibilities for multiple solutions should also be examined.

 PROCEDURE FOR ANALYSING THE CASES:

While analyzing the cases, no stereotyped method can be followed.  But the following are some of the useful tips in the work:

 (i)   BASIC ISSUE:

A Central problem of a case is defined as a basic issue.  It is impossible to analyze a case unless there is a clear understanding of its central problem.  Sometimes, the central problem is obvious but often the cases may be quite complex so that discovering the central problem may be quite a difficult task.  Cases may contain a miscellany of issues some of which may be significant and others not so significant or even trivial.  The case analyst should identify key problem or problems, in the process separating the superficial issues which may be mere symptoms of the central problem.  Once the central problem has been determined, it gives a setting to further analysis.

(ii) RELATED ISSUES

The next step would be dividing the central problem into significant related issues and aspects, such as financing, sales business, advertising, production, pricing, and so on.  For a proper analysis, all these aspects of the central problem will have to be examined thoroughly, which will facilitate us in going in-depth into the problem.

(iii) MARSHALLING OF EVIDENCE

In that case, facts may have to be rearranged in a new form, evidence may have to be correlated, and further calculations may be required. And even charts and tables may have to be constructed to clarify the situation.

(iv)  ALTERNATIVES

Thus by weighing the relative strengths and weaknesses of each alternative, it will be possible to arrive at a logical decision.

 (v)  DECISION

In deciding an alternative, it is to be seen whether it is based on the particular facts of the situation and is really workable under the circumstances.  

CONCLUSION: 

From the above discussions, it is found that,   a case may be described as the narration of facts and other evidence relating to problem-loaded business situation.  Without case study method, business education may not be able to occupy a significant position in the academic world. Whenever, a case is discussed in a formal class-room atmosphere or in executive development programs, more care should be taken in initiating discussion rather than intervening in the discussion unnecessarily.  Otherwise, the students may get demodulated with the frequent interference of the moderator and the purpose of discussion may go off.  Based on the relevance of situation, proper planning must be made and executed during discussion, so that any well constructed case may be effectively analyzed and arrived at good, realistic solution.

  BIBLIOGRAPHY:

   Fry, C. Luther (1934) the Technique of Social Investigation, Harper & Brothers, London, United Kingdom.

   Good, Carter V. (1972) Essentials of Educational Research: Methodology and Design, 2nd ed., Meredith Corporation, New York, USA.

   Naumes, William, and Margaret J. Naumes (1999) The Art & Craft of Case Writing, Sage Publications, Ltd., London, United Kingdom.

   Sapsford, Roger, and Victor Jupp, eds. (1996) Data Collection and Analysis, Sage Publications, Ltd., London, United Kingdom.

  Selltiz, Claire, Lawrence S. Wrightsman, and Stuart W. Cook (1976) Research Methods in Social Relations, 3rd ed., Holt, Rinehart and Winston, Inc., New York, USA.

   Warick, Donald P., and Samuel Osherson, eds. (1973) Comparative Research Methods, Prentice-Hall, Inc., Englewood Cliffs, New Jersey, USA.

About the Author

Dr.R.SRINIVASAN is a Post graduate in commerce and Management. He received his doctoral degree from Alagappa University in 1997. He currently teaches financial management and Research Methodology Subjects in Post graduate and Research Department of Corporate Secretaryship at Bharathidasan Government College for Women (Autonomous), Pondicherry University, Puducherry. Before Joining BGCW, he was teaching in SNR College, Coimbatore, Sindhi college, Chennai& T.S.Narayanasamy College, Chennai for eight years. He was with the industry for a short term at Salzar Electronics Pvt. Ltd, Coimbatore. He has about 20 years of teaching experience and having research experience of 15 years. His interests are in Accounting and finance, Capital Market, Quantitative Methods. He underwent the Faculty Development Programme at Indian Institute of Management Ahmedabad during 2000-01. He has presented 20 papers in national and international conferences and has published twenty papers in the areas of Finance and Human resource Management in National Journals. Co-authored a book titled, ‘Investors Protection, published by Raj Publications, New Delhi He has delivered lectures in contemporary finance topics at Pondicherry University. He is involved in consultancy projects for Godrej Saralee, Chennai in the areas of Statistical Applications. He has supervised a number of research projects in the area of corporate finance and Human Resource Management. He is the Board of examiner in corporate Secretaryship and Management for the past two decades.
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J2 – Open Up Part 2 (ft. Faded)

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