In our last class in Analysis of Business Problems, it became clearer to me that I had been framing my problem statements and objectives incorrectly. I realised that I have been approaching the case study analysis from the position of a student trying to analyse a case which in turn affected how I phrase the problems and the objective, often leading to a faulty decision. In this article, I will share how to better understand the problems and objectives of a case study. And how not to make the same mistakes of approaching cases from perspectives different external to the context of the case study.
Understanding Problems
The first question to answer in any case study analysis is “Who am I in this case study?” or “Whose role am I playing?”. It is important to understand this to frame the problem and the objective correctly. In most case studies, you could be the CEO, a consultant hired to help the executives make a decision, the manager, etc. If you do not fully assume the role of the person the case needs you to be, it is easy to drift away and not fully grasp the what, why, when, how, where and who of the situation and therefore not be able to determine the problem that you are there to figure out.
Understanding the Objective
The objective is at the core of the case study analysis. It is the answer to the question – “What you are trying to achieve with your decision?”. Another way of looking at objectives is by asking the question “What would success look like?”. From the questions you could easily see why it is important to view the problem from the right perspective because objectives could differ depending on who you are looking at the problem as.
For example, if you ask the question: “what would success look like?” from the position of a student just trying to finish another assignment, your answer will most likely differ from the answer you would have gotten if you asked it as a CEO.
Properly framing and understanding the objectives of a case study enables you to select the right alternatives and the right criteria for comparing the alternatives.
When analysing a case study, it is crucial to gather all the relevant information and data to support your analysis. This includes conducting thorough research, reviewing relevant literature, and considering different perspectives. By doing so, you can ensure that your analysis is well-rounded and comprehensive, leading to more accurate problem identification and objective setting.
Conclusion
In conclusion, by correctly understanding the problems and objectives of a case study by approaching the case from the perspective the case expects, you can approach the analysis from the right perspective and make informed decisions. This will help you select appropriate alternatives and criteria for comparison, leading to better outcomes. So, always remember to fully assume the role assigned in the case study and align your objectives with the desired outcome for successful analysis.
Elements of Financial Statements: An Introduction to Assets and Liabilities