Steps to Analysing a Case Study
How to Prepare a Project Assignment Based on a Written Paper
Case studies are an important element of education and work. Learn the easy steps of effectively analysing a case and producing strategic recommendations.
Case studies are important for lecturers, students, managers, analysts and even competitors. In business, learning case studies and practising case methods allows you to develop you insights into a particular business, its industry as well as recommend strategies to improve business performance. Here are steps to effectively analyse a case study.
(1) Read the Case Through
Reading through the case has to take place at least twice. First, read it through, looking at it from a bird's eye view. Find that you have to understand the company from an objective point of view before tearing the case study apart. The second time you read through, mentally note the important aspects of the case that need to be the core focus of the analysis. You will begin to see the case study unravel a revealing a set of questions you need to answer.
(2) Take Notes and Mind Map
The next few reads are done analytically. As you read, jot down salient issues in the case study on a separate sheet of paper. Read through each point carefully, asking yourself the questions what, when, why, how and where. Also remember to look at exhibits, illustrations, charts and numbers. These are relevant to the pertinent issues of your case. Display your findings in a mind-map - by branching out ideas and linking them to new ones.
(3) Analyse the Financial Statements
Financial statements mark the essence of business. Without numbers, a business is nothing. Look through the appended financial statements and calculate appropriate indicators in relation to the case at hand. For example, if you find that the company you are studying has invested in a large amount of illiquid assets (such as buildings), you may want to check its viability through the liquidity tests through projected figures.
(4) List the Strategic Issues
Once you have the salient issues and the statistics together, you would be able to list down the strategic issues at hand. Look at them from every angle - whether they are a strength, a weakness and opportunity or a threat to the company. It is important to capitalise on strengths and opportunities while you look at ways to overcome company weaknesses and reduce threats in the environment. Also remember to support your findings with facts / numbers from the case study itself.
(5) Find Recommendations for Each Issue
Once you have ascertained the management focus, list strategic measures for each issue and the benefits and costs of each measure. Remember to develop a timeline for each strategy as it would take different time periods to effectively allow each strategy to be implemented.
