CASE-STUDIES: THE ULTIMATE
TOOL TO ASSESS YOUR
STUDENTS AND BENCHMARK
YOUR PROGRAMME?"
Tom Vinaimont — City University of Hong Kong
The Link between Case Studies,
Assessment and Benchmarking
Case Studies
(a tool)
Learning
Assessment
Benchmarking
Benchmarking: the corporate story


Benchmarking, was originally invented by Rank
Xerox
Benchmarking is the process of comparing one's
processes and performance metrics to industry bests
and/or best practices from other industries.
Benchmarking: What is it in common
language?







How well do we do compared to others?
How good do we want to be?
Who is doing it the best?
How do they do it?
How can we adapt what they do?
How can we improve?
How can we become the best?
Benchmarking in Higher Education
Benchmarking at different levels:
 Group
of Universities
 Individual Universities
 Colleges and Departments
 Programs
 Courses
 Teachers
 Students
Top-down or Bottom-up Approach

Top-down Advantages:
 Standardization
of benchmarking across the entire
organization
 Quality control of benchmarking process

Bottom-up Advantages:
 Organic
evolution
 Process-oriented
 Relevance
 Closely tied to assessment

Not necessarily exclusive
The Use of Case Studies
Learning Tool
Interactive Tool
Assessment Tool
Benchmarking Tool
Selecting your case-studies



Ready-made / off-the-shelf
Adaptation to local settings
Starting from scratch
Case Studies: A different style of
learning

Students need to understand that case studies are
different from classic exercises:
 Clear
set high-level learning target
 Real-life information
 Abundance of information
 No clearly identified issues/problems
 No given method to tackle the problem
 Not one solution
Case Studies in CityU Terminology

A well chosen case study
 corresponds
directly with a Course Intended Learning
Outcome (CILO) as students will do something (design,
solve etc…)
 is itself the Teaching and Learning Activity (TLA) for that
CILO
 is also the Assessment Task (AT)

Perfect alignment!
Case Studies: Learning

Development of an alternative skills set:
 Students
need to identify problems/issues themselves
 Students need to choose or develop a tool to tackle the
problem
 Students need to present their problem solving strategy
in a comprehensive manner
Case studies: Interactivity

High level task:
 ideal

Different solutions:
 Ideal

for group work
for comparing with peers
Different identification of problems/issues
 Ideal
for discussions
Case Studies: Assessment


Case Studies are Assessment Task
Various Assessment Options:
 Peer
Assessment
 Presentation by students allows for assessment of
various Learning Outcomes
 Interactivity with ‘lecturer’ allows for assessment of the
process and assessment over time
 Self Assessment
Case Studies: Benchmarking

Benchmarking is possible on various levels
 with
other programs who use the same case studies
 with the profession / professional bodies
 through Case Study Competitions
How I use case studies





Make sure students are up to par (previous courses,
previous TLA should provide them with the skills and
tools to tackle the case)
Put students in groups
Give students the story. The idea is for the students
to assume the role of e.g. a CFO
Give a clear high level target they need to attain
Ask students to write a report
How I use case studies in class (2)

In class, have the students (as a group or
individually) report orally
 with
less experienced students, the lecturer can act as a
moderator
 with more advanced students, a group can be selected
to moderate the discussion



Compare different problems students faced.
Compare different methods students developed.
Summarize the findings.
How I assess the students

Case Studies with clear goals:
 How
well did the student attain the goal?
 Was the process to reach the goal consistent and
according to best practice?
 How well did the students present?
 How well did the students work together?
Other forms of assessment

Peer Assessment
 The
oral reporting gives rise to peer assessment.
 Students can decide who did best/worse.

Self Assessment
 The
reporting in class, provides immediate feedback to
the student’s own work by the lecturer and the peer.
Comparing with other’s work provides a natural
framework for self-reflection and self-assessment.
Practical Example: Derivatives and Risk
Management
Course Intended Learning Outcomes (CILOs) Upon
successful completion of this course, students should
be able to:
1.
price basic financial derivative products
2.
to use basic financial derivative products to hedge
market risk
3.
design strategies that alter the risk exposure of
companies or institutions exposed to financial risk
TLA and ATs for Derivatives and Risk
Management

1 Interactive Case Study including a computer
simulation used over multiple sessions
 Students
price derivatives
 Students hedge risk using financial derivatives

3 Case Studies from Harvard Business School
 Students
 Walt
design strategies that alter risk exposure
Disney’s exposure to exchange rate risk
 Banc One’s exposure to exchange rate risk
 LTCM’s demise because of flaws in Risk Management
Screenshot Interactive Case Study
Practical Example: International
Financial Management (I)
Course Intended Learning Outcomes (CILOs) Upon
successful completion of this course, students should
be able to:
1.
determine the impact of the firm’s international
financing policy decisions on firm value
2.
determine the impact of the firm’s hedging policy
on firm value
3.
determine the impact of the firm’s risk
management policy on firm value
TLAs and ATs for International Financial
Management (I)

1 Interactive Case Study developed in INSEAD and
used in executive training
 Students
make production decisions, decide on the
financing policy, decide on the hedging and risk
management policy of the firm
 Students receive feedback on the value of their firm
compared to the other students’ firms
Screenshot Interactive Case Study
Practical Example: International
Financial Management (II)
Course Intended Learning Outcomes (CILOs) Upon
successful completion of this course, students should
be able to:
1.
determine the impact of cross-border mergers and
acquisitions on firm value
2.
determine the impact of foreign direct investment
on firm value
3.
evaluate international portfolio investment
decisions
TLAs and ATs for International Financial
Management (II)

Case Study on Investment Decisions and
Merger/Acquisition bids of BHP, Rio Tinto and
Chalco
 Students
using financial statements and market
information value the corporations in an international
setting.
 Students calculate the impact of cross-border take-over
bids.
 Students evaluate international portfolio decisions
including political risk.
Case studies the link between CLOs,
TLAs, ATs and Benchmarking

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Case studies are developed and used at Harvard
Business School and other top institutions.
1 Interactive Case Study is developed in cooperation
with a market practitioner (we hope others will start
using it once it is perfected)
1 Interactive Case Study is developed and used at
INSEAD
1 Case Study is developed with the help of our own
MBA students (we plan to publish it through e.g. Ivey
Business School Case Study Center, or HKU Case Study
Center)
Evidence that CILOs, TLAs and ATs are meeting
international (or our own) benchmarks
Final Thoughts


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A mix of existing case studies and home-grown
case-studies seems preferable
Too many imported cases, while providing the
opportunity to directly benchmark, kills the
dynamics of a course/program.
The idea is not just to attain the benchmark but to
improve further. Experimenting with different tools
and developing own ideas is what pushes
educational quality to new heights. Therefore homegrown tools should be strongly encouraged.