GUIDE TO CASE COMPETITION ILLUMINATE VANCOUVER 2016

Transcription

1 GUIDE TO CASE COMPETITION ILLUMINATE VANCOUVER 2016

2 WHAT IS A CASE STUDY? A case study is an account of a real or hypothetical situation which includes business problems you would encounter in the workplace. By employing reason and making appropriate assumptions, your task is to analyze the situation and come up with the best possible solution for it. You will then present your idea to be judged.

3 UNDERSTANDING A CASE In a constantly changing business landscape, decision-makers are faced with complex problems and must recommend solutions despite having incomplete information. A case competition tests your ability to make sound judgements with the information you have at your disposal. Common things you ll see on a case: An overarching problem Industry outlook Competitor information Consumer information Possible alternatives Financial statements

4 STEPS 1.Read the Case 2.Identify the Key Issue 3.Internal Analysis SWOT 4.External Analysis PEST Analysis Consumer Analysis Competitor Analysis & Competitive Advantage 5.Recommendation 6.Action and Implementation 7.Risks & Mitigation 8.Conclusion

5 READ THE CASE Read through the case carefully ensure that you understand the situation Don t miss the exhibits at the end of the case! Tip: Highlight and make notes on important facts

6 IDENTIFY THE KEY ISSUE What were the events that led to the problem? What is the problem? Example situations: how to expand into a new market / increase profitability / rebrand the business? How does this impact the business? What alternatives are available? Tip: Write down the issue and possible alternatives to help you organize your thoughts

7 INTERNAL ANALYSIS KEY TOOL: SWOT Analysis SWOT stands for Strengths, Weaknesses, Opportunities and Threats Strengths and Weaknesses relate to a company s current financial, marketing, management or operational capabilities Examples of things to consider: What is the company s current customer base / management structure / financial history? Opportunities and Threats are possible situations that result from a company s Strengths and Weaknesses Tips: Use information from your PEST analysis to identify Opportunities and Threats Advanced tip support your presentation with a Porter s Five Forces analysis

8 EXTERNAL ANALYSIS KEY TOOL: PEST Analysis PEST stands for Political, Economic, Social and Technological Each category examines a current trends that can influence your business decision Note that sometimes only some categories will be relevant to your decision Examples of things to consider: P: Laws, regulations E: Prices, industry performance S: Buying habits, consumer preferences T: New technologies and advancements

9 CONTINUED Consumer Analysis Determine who your current consumer market is Identify which consumer market your business can cater to most effectively Competitive Analysis Determine who your current competitors are Identify your business s competitive advantage what makes you unique? Advanced Tip: Define your key success factors (KSF s) does your business make the cut?

10 RECOMMENDATION Based on your analysis, present a plan overview that addresses the problem and provides a realistic solution Tips: Have fun this is where you get to be creative! Think of a solution that aligns with your business s capabilities (SWOT) and takes advantage of the current environmental outlook (PEST, consumer, competitor)

11 ACTION AND IMPLEMENTATION Explain the ins and outs of your idea how does it work and what steps will you take to achieve a solution? Include an implementation timeline Tips: Support your solution with evidence from your analysis Explain how your solution impacts the business and its customers Discuss why your solution is better than other alternatives

12 RISK AND MITIGATION Risks Your plan will have some holes these are your risks Examples: angry customers, insufficient capacity Mitigation How will you prevent or reduce these risks? Tip: Make sure your mitigation is realistic and can be implemented

13 PRESENTATION Make a PowerPoint to accompany your presentation Consider organizing your presentation as follows: 10% Intro introduce your names and the problem 80% Content tell us about your analysis and solution 10% Conclusion recap your presentation Use diagrams for interest in place of lengthy text Make effective use of the stage it s great to see good eye contact and body language Prepare to answer questions; allow one team member to answer at a time

14 HELPFUL LINKS SWOT Analysis PEST Analysis Porter s Five Forces Analysis

15 LAST MINUTE TIPS Remember to bring your laptops! Prepare a slide deck template before the competition to save time Work together with your team members to analyze the case Divide up tasks to become more efficient Use anecdotes or stories to hook the audience s attention Include an appendix when appropriate to support your answers during question period Don t worry if you ve never done this before. This is a great learning experience, so be creative and have fun!